ADGM, the international financial centre (IFC) of the UAE’s capital, continues its growth trajectory, reporting solid performance in the first half of 2024. As the fastest-growing financial centre and the only jurisdiction with the direct application of the English Common Law in the region, ADGM’s… Read More
Read more in: Asia, Fintech, Politics, Legal & Regulation | Tagged adgm, mena, middle east, uae
Tether Operations Limited, which claims to be one of the largest companies in the digital asset industry, is announcing a $3 million strategic investment in the Kem app, a platform designed for money transfers and financial management. This collaboration will see Kem App “introduce USD₮… Read More
Read more in: Blockchain & Digital Assets, Asia | Tagged digital assets, kem app, mena, middle east, tether
Network International, the enabler of digital commerce, and Biz2X, a global technology and financing fintech in the U.S., India and Australia with over $10 billion USD funded through its digital lending platform, today announced a new SME financing partnership. The primary objective of the partnership… Read More
Read more in: Asia, Fintech | Tagged biz2x, digital commerce, middle east
AXA IM Alts, a global firm focused on alternative investments with $200 billion (€184 billion) of assets under management, has expanded its global network with the opening of its first office in the Middle East. AXA IM Alts has been granted its financial services permission… Read More
Read more in: Asia, Fintech, Global | Tagged adgm, alternative investments, axa, mena, middle east
Central bank digital currencies or CBDCs can boost Middle East’s financial inclusion, payment efficiency, according to a comprehensive update from the IMF. 19 countries in the Middle East and Central Asia are exploring issuing a CBDC, the IMF update noted. Almost two-thirds of countries in… Read More
Read more in: Fintech, Blockchain & Digital Assets, Global | Tagged cbdcs, central bank digital currency, financial inclusion, imf, mena, middle east, research
Blockdaemon officially announces expansion into the United Arab Emirates (UAE), with a new office and corporate entity established in Abu Dhabi under the Registration Authority of Abu Dhabi Global Market (ADGM). With this expansion, Blockdaemon will now “offer institutional-grade node and validator infrastructure solutions, and… Read More
Read more in: Blockchain & Digital Assets, Asia, Politics, Legal & Regulation | Tagged abu dhabi, adgm, blockdaemon, middle east
Global Fintech platform Airwallex is in discussions with several Middle Eastern sovereign wealth funds as it seeks to raise capital for regional expansion, according to CEO Jack Zhang. The Melbourne-based startup has engaged with Abu Dhabi Investment Authority, Mubadala Investment Co, and Saudi Arabia’s Public… Read More
Read more in: Fintech, Asia | Tagged airwallex, mena, middle east
The UAE card payments market is forecast to grow at a compound annual growth rate (CAGR) of 10.6% between 2024 and 2028 to reach AED764.1 billion ($208.2 billion) in 2028, according to GlobalData, a data and analytics company. GlobalData’s Payment Cards Analytics reveals “that card… Read More
Read more in: Fintech, Asia | Tagged card payments, mena, middle east, research, uae
Klumi Ventures announces its achievement as the United Arab Emirates’ Web3 venture capital firm regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). This event heralds a new era of innovation and investment opportunities in the region’s digital asset ecosystem,… Read More
Read more in: Blockchain & Digital Assets, Asia | Tagged adgm, Klumi Ventures, middle east, uae, Web3
Tether, which claims to be among the largest companies in the digital assets industry, and Fuze, a digital assets infrastructure provider with offices in Abu Dhabi, Dubai, and Istanbul, have signed a Memorandum of Understanding (MoU) in order “to establish the terms of a collaboration… Read More
Read more in: Blockchain & Digital Assets, Asia | Tagged digital assets, middle east, tether, turkey
Tuum, a core banking provider, announces its strategic expansion into the Middle East market and the creation of a regional headquarters at ADGM in Abu Dhabi. The move to expand into the Middle East “follows Tuum’s recent Series B funding round led by CommerzVentures, with… Read More
Read more in: Fintech, Asia | Tagged abu dhabi, adgm, middle east, tuum
The Saudi Central Bank (SAMA) announced that the share of retail consumer electronic payments -one of the Financial Sector Development Program’s KPIs- reached 70% of total retail payments in 2023, up from 62% in 2022. This achievement is attributed “to the significant growth of payments… Read More
Read more in: Asia, Fintech | Tagged middle east, payments, SAMA, saudi arabia
Digital asset exchange Fasset’s app is now officially available to users in the UAE. The app offers access to broker-dealer services for “both early investors and experienced real-world asset investors seeking to diversify their investment portfolio with digital assets.” Fasset’s platform allows secure and seamless… Read More
Read more in: Asia, Blockchain & Digital Assets | Tagged fasset, mena, middle east, uae, vara
QNB Group, the leading financial institution in the Middle East and Africa, has announced the launch of “FAWRAN,” a revolutionary payment method designed to enhance the payment experience for its customers in Qatar. This innovative service allows for quick and secure transactions using just the… Read More
Read more in: Fintech, Asia | Tagged FAWRAN, fintech, middle east, payments, qatar, qnb
Ahlan App, the Bahraini loyalty programme, reports that it has successfully raised $3 million at a valuation of $15 million in its first investment round, which has been fully subscribed to and led by Hope Ventures. The investment round was said to be “joined by… Read More
Read more in: Asia, Fintech | Tagged ahlan app, bahrain, fintech apps, middle east
Coupa, the AI-driven platform that helps you operate smarter and grow faster, today announced the launch of its first data center in the Middle East, to be inaugurated in collaboration with the Amazon Web Services (AWS) team in Dubai. The new data center highlights Coupa’s… Read More
Read more in: Artificial Intelligence, Asia | Tagged Coupa, mena, middle east
International insurtech bolttech recently announced its expansion into the Middle East with the launch of its partnership with stc Group, the telecommunications company acting as the engine of digital transformation in the region. bolttech’s collaboration with stc Group will “provide stc’s customers with innovative, embedded… Read More
Read more in: Global, Asia, Insurtech | Tagged bolltech, insurtech, mena, middle east, stc
Jada Fund of Funds has announced its first investment in Venture Debt and second in the private credit space in Partners for Growth VII, managed by global private credit manager Partners for Growth, “with SAR 3.75 billion (USD 1 billion) in assets under management, to… Read More
Read more in: Asia, Global | Tagged investments, jada fund of funds, middle east, saudi arabia
Salla, which claims to be among the leading SaaS e-commerce enablers in Saudi Arabia, has raised $130 million in a Pre-IPO funding round which has been “co-led by Investcorp and Sanabil, and with the participation of STV as the largest investor.” This new investment is… Read More
Read more in: Asia, Fintech | Tagged e-commerce, mena, middle east, saas, salla, saudi arabia
Qatar Investment Authority (QIA) is set to launch Qatar’s “first” venture capital (VC) Fund of Funds, a strategic investment program to foster innovation in Qatar. The Fund of Funds program will “invest more than USD 1 billion in international and regional venture capital funds.” The… Read More
Read more in: Asia, General News, Global | Tagged fund of funds, mena, middle east, qatar, qatar investment authority, update, vc, venture capital
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