Tagged: uae

Dubai International Financial Centre Fintech Hive Launches Investment Accelerator Program in Middle East, Africa, South Asia

Dubai International Financial Centre (DIFC) Fintech Hive has announced the introduction of their investment-focused accelerator program for startups and other small companies in the Middle East, Africa and South Asia (MEASA) regions. The Fintech Hive Scale Up program will provide partnership and investment opportunities for… Read More

OG Bank and OG Pay Team Up with Banking as a Service Provider, Bankable, to Offer Digital Banking in the UK and Germany

A Dubai-headquartered Fintech firm focused on providing payment processing services will be launching OG Bank and OG Pay (On the Go), an online banking platform, chat-based digital payment wallet and an online point-of-sale (PoS) system – which will all be accessible and managed from mobile… Read More

Over 60% of United Arab Emirates’ Adult Working Population Is Still Not Using Modern Financial Services: Report

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The global payments industry is evolving rapidly and will only be developing faster in the coming years according to several reports. From digital transformation efforts to the increasing competition among Fintech firms to innovate, it is becoming more important for companies to upgrade their tech… Read More

Middle East’s Startup Ecosystem Supporter Wamda Co-Leads $3 Million Round in Floranow

Wamda, an established startup ecosystem supporter in the Middle East, recently co-led a $3 million Series A investment round with Global Ventures in Floranow, a business-to-business (B2B) online floral marketplace. Existing investors including Dash Ventures, Jabbar Internet Group, and new investors Sirocco Holdings, Adamtech Ventures,… Read More

Dubai’s Wamda Invests in UAE-based Fintech Firm FlexxPay, a Social Impact Company for Businesses in the MENA Region

Wamda has reportedly made an investment in United Arab Emirates (UAE)-headquartered Fintech firm FlexxPay. The social impact company offers various benefit solutions to workers, which are available for businesses in the Middle East and North Africa (MENA) region. Wamda’s latest investment is part of FlexxPay’s… Read More

Dubai Financial Services Authority and Luxembourg’s Commission de Surveillance du Secteur Financier to Work on Developing Fintech Platforms

The Dubai Financial Services Authority (DFSA) and the Commission de Surveillance du Secteur Financier (CSSF) Luxembourg have made an agreement to work cooperatively to develop Fintech-related platforms. The cooperation framework shows that both regulators have made an effort to encourage the development of innovative technologies… 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

UAE’s National Bank of Fujairah (NBF) Partners With Fintech Galaxy to Conduct MENA Fintech Hackathon

United Arab Emirates’ (UAE) National Bank of Fujairah (NBF) has partnered with Fintech Galaxy, a financial technology crowdsourcing platform. NBF recently participated in the MENA Fintech hackathon, which was hosted by Fintech Galaxy. The event brought together major local banks, regulators, financial industry professionals, and… Read More

South Korean Enterprise Blockchain Developer Blocko Launches Operations in the UAE

Blocko, a South Korean enterprise-grade blockchain development firm, is launching its operations in the United Arab Emirates (UAE) after securing funding in Europe and the Asia Pacific region.  UAE’s financial hub, Dubai, announced the Emirates Blockchain Strategy 2021 in April 2018. The nationwide strategy involves… Read More

Hackers Hijacking Smart Fridges, TVs and Laptops in UAE to Mine Cryptocurrency

“(Cryptomining) Attackers are following the money to the UAE,” says Hussam Sedani, Middle East manager for the cybersecurity firm Symantec. And according to UAE media outlet The National, instances of malware-based cryptojacking, in which personal devices are “zombified” and forced to mine cryptocurrencies, are twice… Read More

New Partnership: INVAO to Advance UAE’s SEED Group Blockchain Strategy

INVAO, the blockchain asset pool for investors, has been selected as the exclusive international partner for blockchain investments by Dubai’s SEED Group, an association of diversified companies owned by The Private Office of Sheikh Saeed bin Ahmed Al Maktoum. “This [landmark partnership]represents a seal of… Read More

Saudi Arabia and UAE To Test Cryptocurrency for Cross Border Payments

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Following a meeting of The Executive Committee of the Saudi-Emirati Coordination Council, the UAE and Saudi Arabia have announced plans to collaborate on a “joint pilot cryptocurrency” for possible use in cross border banking, Emerati state news agency WAM reports. The initiative is one of seven… Read More

Executive Committee of the Saudi-Emirati Coordination Council Holds First Meeting; Announces Launch of Saudi-Emirati Pilot Cryptocurrency

The Executive Committee of the Saudi-Emirati Coordination Council reportedly held its first meeting in Abu Dhabi with the participation of all 16 members from both sides to follow up on the execution of the joint initiatives outlined in the Strategy of Resolve. According to UAE’s… Read More

Dubai Police Commander Warns Citizens of Potential Crypto Fraud Risks

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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

Standard Chartered Joins Forces With Siemens Financial Services & TradeIX to Create End-to-End Blockchain-Based Trade Finance Platform

Standard Chartered announced on Wednesday it has joined forces with Siemens Financial Service and TradeIX to create an end-to-end blockchain-based trade finance guarantee platform. According to the trio, this new platform is to transform the traditionally paper-intensive bank guarantees business. The companies claim to be the first blockchain client… Read More

Securrency Set to File Application For Crypto-Asset License Under ADGM Crypto Regulatory

Securrency, a regtech firm that has created a platform designed to streamline regulatory compliance for token offerings, announced this week its intention to secure a license to operate a crypto-asset business with strategic partners under the  Abu Dhabi Global Market (ADGM) crypto regulatory framework. The… 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

Al Hilal Bank Forms Partnership with Abu Dhabi Global Market to Promote Islamic Finance

Al Hilal Bank announced on Tuesday it has formed a new partnership with the Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, aimed at promoting Islamic Finance in Abu Dhabi and across the UAE. According to Al Hilal Bank, the Memorandum of… Read More

FINTECH Circle Partners With Abu Dhabi Global Market to Launch Fintech Education Courses For the UAE

FINTECH Circle, a global community of fintech entrepreneurs, angel and VC investors, financial services professionals and fintech thought-leaders, announced on Thursday it has teamed up with Abu Dhabi Global Market (ADGM) to launch a range of FINTECH Education Courses for the United Arab Emirates (UAE)…. Read More

Dubai Financial Services Authority & Hong Kong Monetary Authority Sign Fintech Cooperation Agreement

The Hong Kong Monetary Authority (HKMA) and the Dubai Financial Services Authority (DFSA) have signed a Fintech Co-operation Agreement today to boost collaboration between the two regulatory authorities, with a view to facilitating financial innovation in the two jurisdictions. The Co-operation Agreement was signed by… Read More

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