Tagged: dubai

Canadian in Dubai Arrested for Fraud, Including Crypto Fraud via Habibi Coin, the “Bitcoin of the Middle East”

A Canadian living in the Burj Khalifa, Dubai’s most famous luxury building, has been arrested for serial fraud, including cryptocurrency fraud, and is now sitting in a cell at the Al Awir jail, Gulf News reports. Aziz ‘Com’ Mirza and his two brothers allegedly used online… Read More

Investment Crowdfunding Platform Ethis Receives 3rd Regulatory Approval, Gains Indonesia Authorization

Ethis has received regulatory approval to operate in Indonesia marking the third market this year where the platform may now provide online capital formation. Ethis received approval to provide peer to peer crowdfunding as authorized by the Financial Services Authority of Indonesia. Prior to this… Read More

UAE’s Securities and Commodities Authority Prepares Draft of a Resolution on Regulating Digital Assets

The United Arab Emirates’ (UAE) Securities and Commodities Authority (SCA) has prepared a  draft of a resolution on regulating digital assets, which aims to offer more clarity for cryptocurrency-related initiatives in the Middle Eastern country. Comments are being accepted until October 29, 2019. With the… Read More

One-Third of Fintech Firms in the Middle East and North Africa (MENA) Are Based in the UAE

The United Arab Emirates’ (UAE) Fintech industry is set to enter 2020 with promising deals as more investors and companies explore potential investment opportunities. One-third of Fintech firms in the Middle East and North Africa (MENA) are based in the UAE. The number of Fintech… Read More

Ethis Group of Crowdfunding Platforms to Participate in Dubai Property Development

Ethis Dubai, part of the Ethis Group of crowdfunding platforms headquartered in Singapore, has announced its participation in the Dubai “Real Estate Investment Opportunities” (REIOs) launched by Dubai Land Development. Ethis said the initiatives came at a time when the Dubai property market is at… Read More

Future Blockchain Summit – Dubai

The Future Blockchain Summit is the world’s largest blockchain festival. It brings to the forefront government visionaries, blockchain revolutionists, startups, investors and the brightest disruptors to marry business sense with opportunity and set the global blockchain agenda. The event that will be held from 2… Read More

Peer to Peer Lending Platform Beehive Raises $4 Million

Beehive, a peer to peer lending platform servicing SMEs in the MENA region, has closed on $4 million Series B funding round, according to a release from the platform. This most recent funding brings the Fintech’s total raised to $15.5 million since platform launch. The… Read More

UAE Development Firm Behind Burj Khalifa Denies it Accepting Crypto for Real Estate

Emaar Properties, the company that developed the United Arab Emirati’s (UAE’s) iconic Burj Khalifa tower, the tallest in the world, has denied rumours that it plans to accept cryptocurrency payments in real estate deals. According to a company spokesperson speaking to Bloomberg: “Emaar does not… Read More

Dubai Financial Services Authority Announces Seven New Firms Into Sandbox Cohort Process

The Dubai Financial Services Authority (DFSA) announced on Monday it has accepted seven new firms into its cohort process, which permits companies to apply for an Innovation Testing Licence (ITL). According to DFSA, the ITL forms part of the DFSA’s commitment to support innovation and… Read More

Locus Chain Foundation Set to Launch Digital Asset Exchange Platform in Dubai

Singapore-headquartered Locus Chain Foundation, the developers of a next-generation blockchain protocol, announced on Wednesday it will launch an innovative digital asset exchange platform, Locus DAX in Dubai, during the first quarter of 2019. According to Locus Chain Foundation, Locus DAX will allow users to buy, sell… Read More

Dubai Financial Services Authority Launches Consultation on Property Crowdfunding

The Dubai Financial Services Authority (DFSA) has initiated a consultation on property crowdfunding. Released last week, the consultation addresses a proposal to add a new subcategory for property investment crowdfunding platforms. The DFSA notes that like many financial services, crowdfunding has evolved. Originally designed to… Read More

FundedByMe Receives Regulatory Approval to Offer Investment Crowdfunding in Dubai

FundedByMe has been granted regulatory approval from the Dubai Financial Services Authority (DFSA) to offer investment crowdfunding in Dubai. An in-principle license has been granted conditional to completing the setup of the local entity. Operations will commence early in 2019. FundedByMe states that it will become… Read More

Ripple Set to Open New Office in Dubai By the End of 2018

Ripple has reportedly announced it is set to open a new office in Dubai by the end of 2018. According to CCN, the company’s Global Infrastructure Innovation Head, Dilip Rao, indicated at the 2018 Global Islamic Economic Summit that it will be focused on cross-border payments… Read More

deVere Group Launches Actively Managed “Cryptocurrency Solution” for Investors

An actively managed cryptocurrency solution has been launched by deVere Group. The company has founded the deVere Digital Asset Funds, a suite of digital currency solutions for experienced investors, in association with Dalma Capital Management Limited, a hedge fund manager in the Dubai International Financial Centre…. Read More

Startupbootcamp Debuts First Fintech Accelerator in Dubai

Startupbootcamp announced on Tuesday it has launched its FinTech Accelerator program in Dubai in order to support the city in its bid to become what it claims to be a world leader in financial services innovation and technology. The accelerator program organizer revealed that over the… Read More

Stablecoin: Dubai Offers Blockchain Payments in Partnership with Pundi X & Ebooc Fintech

Dubai will enable residents the ability to may digital payments using blockchain tech in a new partnership with Pundi X, Ebooc Fintech & Loyalty Labs LLC. XPOS devices that facilitate transactions are expected be rolled out at shopfronts in region  with provisions for an increase in coming… Read More

Dubai Police Commander Warns Citizens of Potential Crypto Fraud Risks

Dubai UAE Beach Camels fredrik-ohlander-unsplash

Major-General Khalil Ibrahim Al Mansouri, the Assistant-Commander of the Criminal Investigation Department of the Dubai Police, told attendees at a relevant forum in Dubai this weekend that a lack of awareness around possible criminal uses of cryptocurrencies in the UAE is putting citizens at risk,… Read More

Monetary Authority of Singapore and Dubai Financial Services Authority Strengthen Fintech Relationship

The Monetary Authority of Singapore (MAS) and the Dubai Financial Services Authority (DFSA) have strengthened their pre-existing Fintech relationship with a new agreement. According to MAS, this most recent collaboration will see mutual referrals of promising Fintech firms between the two jurisdictions.  The agreement is… Read More

Dublin / Dubai-Based Photography Marketplace Coinaphoto Now Seeking £500,000 Through Crowdcube

Coinaphoto, a Dublin /Dubai-based photography marketplace, has launched an equity crowdfunding campaign on Crowdcube, seeking £500,000 in funding for growth and expansion of its platform. Founded in 2015, Coinaphoto explained it has built a global community of over 200,000 contributors and features 55 million images. The rewards-based… Read More

FinTech Hive Reports More Than 300 Applications Were Submitted For 2018 Accelerator Program Edition

FinTech Hive at DIFC, a fintech accelerator that was established by the Dubai International Financial Centre (DIFC), announced on Wednesday that more than 300 applications were submitted for the program’s 2018 edition. The accelerator began accepting application in May. As previously reported, FinTech Hive was… Read More

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