Tagged: dubai

Dubai International Financial Centre Selects Napier to Offer Client Screening Capabilities

Dubai International Financial Centre (DIFC), the global financial centre in the MENA and South Asia region, has chosen anti-financial crime compliance specialist Napier in order to upgrade the screening services they employ with Napier Client Screening. With the next-generation solution, the DIFC Authority will “benefit… Read More

Global Fintech Remitly Expands into Middle East with UAE Launch, Dubai Office

Remitly Global, Inc. (NASDAQ: RELY), a digital financial services provider for immigrants and their families, announced it has expanded into the Middle East with the launch of its outbound remittance product in the UAE. Remitly has also “opened an office in the Dubai International Financial… Read More

MENA Region Fintech Firm Wafeq Raises $3M via Seed Round Led by Raed Ventures

Wafeq, a modern and easy-to-use accounting platform, has announced the completion of its $3 million seed round. The Dubai-headquartered company’s seed round was “led Raed Ventures by and saw participation from Wamda Capital, both of which are two of the most prominent names in the… Read More

Dubai Chamber of Commerce Launches Fintech, Payments Business Group

Dubai Chamber of Commerce has announced the launch of a new Fintech & Payments Business Group aimed at bringing together companies of all sizes “within the fintech and payments sector to encourage collegial dialogue, advocate policy change and promote the emirate as a highly competitive global… Read More

Digital Asset Platform NYXEX Obtains Liquidity, Announces Launch of Exchange in 2023

NYXEX, a digital asset exchange that claims it is poised to streamline the industry, is pleased  to announce that it has obtained the necessary liquidity and will be launching in Spring 2023. As an emerging player in the crypto-asset space, NYXEX is committed “to providing… Read More

UAE’s Investment Firm National Bonds Selects Azentio’s iMAL to Enhance Operational Efficiency

Azentio Software, a Singapore-headquartered technology firm owned by funds managed by Apax Partners, announced that National Bonds, the UAE’s Shariah-compliant savings and investment company owned by the Investment Corporation of Dubai, has “selected Azentio’s Islamic Banking solution, iMAL, to support its quest to improve process… Read More

IFZA Dubai, Wio Bank to Offer Digital Banking Services

Dubai UAE Beach Camels fredrik-ohlander-unsplash

IFZA Dubai, which claims to be the UAE’s most “dynamic” and “truly” international Free Zone, has entered into a partnership agreement with Wio Bank, the region’s “first” platform bank, “to provide IFZA Free Zone companies with quick and convenient access to digital banking services and… Read More

Financial Services Firm Five FS Finalizes $3.5M Seed Round

Dubai-based financial services platform Five FS has officially launched in the United Arab Emirates (UAE) and Saudi Arabia and also secured $3.5 million in seed funding. Five FS’ investment round was reportedly led by Romanian VC firm Zeyshare Ventures “at a $30 million valuation.” As… Read More

UAE-based Fintech Firm Mamo Obtains Regulatory Approval in DIFC

Mamo, a UAE-based FinTech and financial services platform for SMEs, has been granted regulatory approval “to operate from Dubai International Financial Centre (DIFC), the global financial center  in the MENA and Asia region.” The license has been “granted by the Dubai Financial Services Authority (DFSA),… Read More

Binance Obtains MVP License from Dubai’s Virtual Assets Regulatory Authority

Binance, the global blockchain services provider, has received the Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA), following the issuance of its provisional license in March 2022. The MVP license “means that Binance can offer an approved range of virtual asset-related… Read More

Blockchain.com Obtains Provisional Approval to Operate in Dubai

As Dubai seeks to support crypto and blockchain innovation, Blockchain.com has signed a Memorandum of Understanding (MOU) with the Dubai Virtual Assets Regulatory Authority (VARA). That means that soon both retail and institutional clients will be able “to access the financial system of the future… Read More

Digital Asset Firm Gate.io Group Is Offering OTC Block Trading Service in Dubai

Gate.io Group has announced the launch of its over-the-counter trading platform Gate OTC, which will “provide fully-licensed OTC crypto trading services catered to institutions and high-net-worth individuals.” Services are “offered in various countries around the world, supporting several mainstream cryptocurrencies.” The launch of Gate OTC… Read More

Komainu, a Nomura-backed Crypto Custodian, Granted Provisional Regulatory Approval in Dubai

Komainu, a regulated digital asset custody provider built by institutions for institutions, today announced provisional regulatory approval from the Government of Dubai’s Virtual Assets Regulatory Authority [VARA] to “commence operational readiness even as the application goes through the warranted due diligence in accordance with VARA… Read More

FTX Exchange FZE Obtains Dubai’s First Virtual Asset Service Provider MVP License

FTX Exchange FZE announced that it has received approval “to enter Dubai’s ‘Minimum Viable Product’ (MVP) program for Virtual Assets under the world’s only specialist regime for this sector operated by the Virtual Asset Regulatory Authority (VARA).” As a subsidiary of FTX Europe, FTX Exchange… Read More

Huobi Group Given MVP Provisional Approval from Dubai Virtual Assets Regulatory Authority

Huobi Group, which claims to be one of the world’s leading financial services providers specializing in cryptocurrencies and related products, recently announced that it has been granted MVP provisional approval by the Dubai Virtual Assets Regulatory Authority (VARA) on July 15, 2022, while it “undertakes… Read More

Digital Asset Exchange OKX Obtains Dubai VARA Provisional License

OKX, which claims to be one of the leading crypto trading apps, recently announced that it has been granted a provisional virtual assets (VA) license “to provide services to qualified investors in the UAE.” Granted by the Dubai Virtual Assets Regulatory Authority (VARA), OKX’s provisional… Read More

On the Lam? Report States that Three Arrows Capital Founders Have Disappeared [u]

Three Arrows Capital (3AC), a crypto hedge fund that was recently ordered to liquidate its holdings following the impact of crypto contagion, is in the news once again as a report indicates its founders have disappeared. Meanwhile, one founder has reappeared on Twitter, indicating they… Read More

Three Arrows Capital Defaults on Payments, Voyager Digital Says it Will Pursue Recovery

Three Arrows Capital (3AC) has defaulted on a $670 million loan. Voyager Digital  (TSX: VOYG) (OTCQX: VYGVF) , a digital asset firm that had previously warned it had exposure to 3AC in regards to 15,250 Bitcoin (~$308 million) and $350 million (USDC) for over $650… Read More

Hex Trust Gains Provisional License as Virtual Asset Provider in Dubai

Hex Trust, Hong Kong-based digital asset custody provider providing services across Asia, has gained provisional approval for a Virtual Asset MVP license in Dubai. According to a statement by Hex Trust, the Government of Dubai’s Virtual Assets Regulatory Authority (VARA) has approved it to operate… Read More

CoinMENA Obtains Provisional License from Dubai’s Virtual Asset Regulatory Authority

Dina Sam’an, the Founder and Managing Director of CoinMENA, notes that she’s very excited to share that CoinMENA has obtained a provisional license from Dubai’s Virtual Asset Regulatory Authority (VARA). Sam’an adds that regulatory compliance has been a “top priority” for CoinMENA from day one…. Read More

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