Tagged: uae

October 17, 2022 @ 7:32 am By Omar Faridi  |  

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

October 12, 2022 @ 9:23 pm By Omar Faridi  |  

OneConnect Financial Technology Co., Ltd, a Technology-as-a-Service provider for financial institutions, announced the official launch of its regional operations in Abu Dhabi Global Market (ADGM), the international financial center of the capital of the UAE. OneConnect’s addition to the ADGM family will “further support the… Read More

October 11, 2022 @ 10:57 pm By Omar Faridi  |  

LuLu Financial Group – which claims to be one of UAE’s leading financial services company, has joined hands with Wio Bank – the region’s “first” platform bank to allow Wio Business customers “to make account deposits through its network of LuLu Exchange branches.” The partnership… Read More

October 11, 2022 @ 9:08 pm By Omar Faridi  |  

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

October 11, 2022 @ 5:04 pm By Omar Faridi  |  

Mercury is using Oracle Banking Payments, running on Oracle Cloud Infrastructure (OCI) in order “to help democratize digital payments in the UAE.” With Oracle Banking Payments, Mercury was able “to capitalize on changes in the digital payments landscape in the post-pandemic era to create their… Read More

October 6, 2022 @ 8:42 pm By Omar Faridi  |  

MoneyGram International, Inc. (NASDAQ: MGI), a global player in the evolution of digital P2P payments, and Jingle Pay, a financial super-app based in the United Arab Emirates (UAE), announced a partnership “to enable convenient and fast global money transfers through the Jingle Pay app.” Consumers… Read More

September 22, 2022 @ 12:15 am By Omar Faridi  |  

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

September 15, 2022 @ 9:35 pm By Omar Faridi  |  

Wio Bank PJSC announced its official launch in the UAE, “becoming the first platform bank in the region, aiming to transform banking operating models towards a more digital future.” This is in line with the UAE’s Digital Economy Strategy that aims “to double the contribution… Read More

September 10, 2022 @ 3:22 pm By Omar Faridi  |  

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

September 6, 2022 @ 10:17 pm By Omar Faridi  |  

Emirates Development Bank (EDB), the financial “engine” of the UAE’s economic diversification and industrial transformation agenda, has announced a lending feature that allows SMEs and startups “to apply for loans of up to AED5 million directly through its Digital Banking App and receive approval or… Read More

September 4, 2022 @ 10:58 pm By Omar Faridi  |  

Mastercard (NYSE: MA) and Ajman Bank have strengthened their commitment to inclusion through a new initiative “designed to expand access to the digital economy.” The Touch Card is “an accessible payment card that will allow blind and partially sighted people to easily facilitate payments and… Read More

August 27, 2022 @ 5:27 pm By Omar Faridi  |  

The Abu Dhabi Blockchain and Virtual Assets Committee (ADBVAC) held its first meeting, “under the chairmanship of H.E Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED) and Chairman Securities and Commodities Authority (SCA), to discuss strategy for blockchain and… Read More

August 27, 2022 @ 2:59 pm By Omar Faridi  |  

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

August 20, 2022 @ 7:36 pm By Omar Faridi  |  

Standard Chartered Bank (LON: STAN) recently announced the appointment of Ayesha Abbas as Head of Consumer, Private and Business Banking, UAE. In this role, Ayesha will “report to Rola Abu Manneh, Chief Executive Officer, Standard Chartered, UAE and Bongiwe Gangeni, Regional Head, CPBB, MENA and… Read More

August 18, 2022 @ 9:55 pm By Omar Faridi  |  

Emirates NBD, a banking group in the MENA region an Turkey, has launched a global accelerator program for metaverse start-ups “to enhance customer experience for the new virtual economy, in partnership with the Dubai International Financial Centre (DIFC) Fintech Hive, the largest financial technology hub… Read More

August 17, 2022 @ 9:47 pm By Omar Faridi  |  

SmartCrowd Holdings, a firm focused on fractional real estate investments, has been issued a Fintech experimental license by the Saudi Capital Markets Authority (CMA). SmartCrowd is now focused on following through with business requirements for the launch of its Real Estate Funds Distribution Platform, making… Read More

August 7, 2022 @ 9:27 pm By Omar Faridi  |  

SC Ventures recently revealed that it has introduced Appro, which is a Fintech that digitizes and enhances the retail banking customer experience. Supported by SC Ventures, Standard Chartered’s Fintech investment and ventures unit, the “bank-agnostic” platform intends to signifiantly reduce the time taken to finalize… Read More

August 1, 2022 @ 7:19 pm By Omar Faridi  |  

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

July 31, 2022 @ 8:38 pm By Omar Faridi  |  

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

July 24, 2022 @ 8:40 pm By Omar Faridi  |  

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