Tagged: dubai

ByBit Slapped by Hong Kong Securities and Futures Commission as Conducting Unlicensed Activities

ByBit is a crypto exchange that has been granted the Minimum Viable Product (MVP) Preparatory License by Dubai’s Virtual Assets Regulatory Authority (VARA), following the Provisional License it received in March 2022, has been noted as a “suspicious virtual asset trading platform” by the Hong… Read More

Digital Asset Firm Nexo’s Dubai Entity Receives Initial Approval from VARA

Nexo, a digital assets institution, announced that its Dubai entity, Nexo Services FZE, has been awarded an Initial Approval [IA] by Dubai’s Virtual Assets Regulatory Authority (VARA) for Virtual Asset Lending & Borrowing, Management & Investment, and Broker-Dealer activities. This IA positions Nexo as one… Read More

Republic Expands into Middle East in Partnership with Stake – a Real Estate Investment Platform

Online investment firm Republic has announced a new partnership that will see the Fintech expand into the Middle-East. According to a note from the firm, Republic has formed a partnership with Stake, an online investment platform for real estate in Dubai. Republic claims the deal… Read More

additiv, an Enabler of Embedded Finance, Expands Operations in Dubai

Responding to growing demand for Finance-as-a-Service propositions in the Middle East, additiv, a global enabler of Fintech and embedded finance, has announced that it is expanding its presence in Dubai, UAE by opening a new, fully operational office location in the heart of Dubai International… Read More

DIFC Innovation Hub Teams Up with Wealth Management Firm, Julius Baer, and Financial Market Infrastructure Euroclear

DIFC Innovation Hub, which claims to be the largest start-up and innovation hub in the world operating out of Dubai International Financial Centre (DIFC), the global financial centre in the MEASA) region, is collaborating with global Swiss wealth management firm, Julius Baer, and the Financial… Read More

Fintech Firm Alipay+ Announces Initiative to Streamline Shopping Experience for International Visitors to Dubai

Dubai Duty Free, which claims to be one of the largest travel retail operators, announced its partnership with Alipay+ in order “to power a seamless travel and checkout experience for international visitors.” Consumers from South Korea, Singapore, the Philippines, Thailand, Mongolia, Italy as well as… Read More

Changer.ae Receives License for Crypto Custody Services in Abu Dhabi

Abu Dhabi-based Changer.ae has been granted a license by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate as a cryptocurrency custodian service. As the first regionally built, independent virtual asset custody provider in the UAE, Changer addresses the increasing… Read More

Digital Asset Insurer OneDegree Partners with Dubai Insurance Company

OneDegree, a Hong Kong-based insurer specializing in digital assets, has formed a strategic alliance with Dubai Insurance Company to introduce digital asset insurance in the United Arab Emirates (UAE). This partnership includes Dubai Insurance’s investment in OneDegree’s Series B funding round. The collaboration aims to… Read More

Accenture to Enable Commercial Bank of Dubai’s Tech Transformation in Middle East

Accenture (NYSE: ACN) has signed a strategic agreement with the Commercial Bank of Dubai (CBD) in order to drive its technology transformation program and “further enhance its banking services to personal and business customers.” Accenture will set up “a development center of excellence (COE) to… Read More

Fintech: Dubai 10X Initiative Propels City a Decade Ahead in Innovation

Dubai’s ambitious journey towards becoming a global leader in innovation and sustainability is gaining momentum, as highlighted by the emirate’s forward-thinking initiatives and investments in futuristic technologies. At the heart of this journey is the Dubai 2040 Urban Master Plan, aimed at making Dubai the… Read More

Digital Assets: GC Exchange Secures Virtual Asset Service Provider License in Dubai

GC Exchange FZE (GCEX), a subsidiary of the GCEX Group, has been granted an Operational VASP Licence by Dubai’s Virtual Asset Regulatory Authority (VARA) for VA Broker-Dealer services. This developmens comes after GCEX opened its Dubai office in July 2022 and received a Minimal Viable… Read More

Crypto.com Obtains VASP License from Dubai’s Virtual Assets Regulatory Authority (VARA)

Crypto.com announced that its Dubai entity, CRO DAX Middle East FZE, has been granted a Virtual Assets Service Provider (VASP) License “for specified virtual asset service activities by Dubai’s Virtual Assets Regulatory Authority (VARA).” Crypto.com’s VASP License is “subject to the Company fully satisfying select… Read More

Dubai Approves XRP as Crypto Token Under Virtual Assets Regime

Digital asset XRP has been granted approval by the Dubai Financial Services Authority (DFSA) for utilization within the Dubai International Financial Centre (DIFC), marking a significant endorsement for cryptocurrency usage in financial services in Dubai, according to Ripple. As the first virtual asset sanctioned by… Read More

Fintech: Dubai Launches $136m VC Fund for Financial Technology Startups

The Dubai Integrated Economic Zone (DIEZ) has announced the official launch of Oraseya Capital, a venture capital fund that will invest in financial technology (fintech) startups in the gulf nation. This strategic initiative, announced during the Dubai Business Forum, aligns with the Dubai Economic Agenda… Read More

Dubai International Financial Centre (DIFC) Announces Consultation on Digital Assets Law

Dubai International Financial Centre (DIFC), the global financial center in the MENA and Southeast Asia region, has proposed to enact a Digital Assets Law, a Law of Security and related amendments to select existing legislation “to cater to the requirements of the DIFC’s proposed digital… Read More

Crypto Exchange Bybit Launches Million-Dollar Hackathon in Dubai

Global crypto exchange Bybit and the Dubai Multi Commodity Centre (DMCC) have announced the launch of “Web3 Unleashed: Crypto Innovation Challenge” hackathon in Dubai. The event promises $100,000 prize pool and comes on the heels of a partnership that has already seen Bybit contribute AED500,000… Read More

Blockchain: Deepcoin Labs Secures Trading Registration, Launches $10m Fund for Web3 Projects

Deepcoin Labs, a venture capital firm with a specialization in blockchain, cryptocurrencies, and digital assets, has been granted the “Proprietary Trading in Crypto-commodities” registration by the Dubai Multi Commodities Center (DMCC). This recognition coincides with the unveiling of a $10 million fund, explicitly earmarked to… Read More

UAE Government, Mastercard to Accelerate Adoption of Artificial Intelligence

Mastercard (NYSE:RSKD) has established a Global Centre for Advanced AI and Cyber Technology in Dubai. The UAE’s Artificial intelligence, Digital Economy and Remote Work Applications Office and Mastercard signed a Memorandum of Understanding “to increase Artificial Intelligence (AI) capabilities and readiness in the region.” An… Read More

Digital Assets: Binance Obtains an Operational Minimum Viable Product License in Dubai

Binance, which is being sued by US regulators for a wide range of issues, is pleased to announce that their Dubai subsidiary, Binance FZE, has reportedly become the first exchange “to receive the Operational Minimum Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority… Read More

Nomura Launches Wealth Management Business in Dubai, Opens Premises in DIFC

Nomura announced the expansion of its International Wealth Management business with new premises in Dubai International Financial Centre (DIFC), the global financial hub in the MENA and South Asia region. Nomura announced last year that it would “open a branch of Nomura Singapore Limited in… Read More

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