Tagged: uae

June 1, 2022 @ 10:03 pm By Omar Faridi  |  

Waves Enterprise, a hybrid blockchain platform combining public and private chains, has announced its intention “to move to a decentralized governance model and open-source its entire codebase.” The Waves Enterprise stack and further development of WE ecosystem “will be managed not by a group of… Read More

May 30, 2022 @ 12:46 pm By JD Alois  |  

Estonia-based lomob Technologies OU, a blockchain-based firm that is developing a “mobility marketplace network and token” has received an investment from Cypher Capital. Cypher Capital is a VC firm based in the UAE, and active in the global crypto, blockchain, and digital asset space. The… Read More

May 29, 2022 @ 4:20 pm By JD Alois  |  

Waves, an issuer of another algorithmic stablecoin Neutrino USD (USDN) has distributed a plan to reanimate its troubled stablecoin. USDN lost its “peg” back in April tanking to around $0.66 and while it has bounced back a bit – now around $0.97 – USDN has… Read More

May 12, 2022 @ 7:51 pm By Omar Faridi  |  

There’s no denying that the Middle East is “growing fast” and its restaurant scene is growing “even faster,” according to an update shared with CI. Dining in the UAE means “exploring one of the most diverse, vibrant, and delicious food destinations on the planet.” Restaurants… Read More

April 24, 2022 @ 9:36 pm By Omar Faridi  |  

The UAE Trade Connect (UTC) is pleased to confirm that the Abu Dhabi Commercial Bank (ADCB) has joined its consortium of UAE banks “utilizing its blockchain platform to help de-risk trade finance.” UTC is the Fintech blockchain platform of e& enterprises, from e& (formerly known… Read More

April 23, 2022 @ 5:53 pm By Omar Faridi  |  

Tarabut Gateway has reportedly been granted a license by Dubai Financial Services Authority (DFSA) to offer money services in and from Dubai International Financial Centre (DIFC). DFSA is the independent regulator of financial services in DIFC, which claims to be “the leading global financial center”… Read More

April 12, 2022 @ 10:08 pm By Omar Faridi  |  

Investcorp, a global alternative investments firm, recently announced the launch of eLydian Lion, which is reportedly the first dedicated institutional blockchain fund based in the GCC, with “a global investment mandate.” The Fund – which will be led from Investcorp’s Abu Dhabi office – will… Read More

April 10, 2022 @ 11:17 pm By Omar Faridi  |  

Seed Group, a subsidiary of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, recently entered a “strategic” alliance with PayCargo, a Florida-headquartered global logistics payment platform, in order “to bring its tried and tested payment technology to the UAE.” As noted in an… Read More

April 2, 2022 @ 7:49 pm By Omar Faridi  |  

ADGM will offer participants access to its Digital Lab, which is a “neutral” and “secure” digital environment where Fintech products and services may be tested The Abu Dhabi Global Market (ADGM), an international financial center, has teamed up with financial software firm Finastra for its… Read More

March 29, 2022 @ 10:37 pm By Omar Faridi  |  

Mashreq Bank, a leading financial institution based in the United Arab Emirates, has completed the transition of its payments division into a wholly owned subsidiary, IDFAA Payment Services LLC, with a brand name NEOPAY, supported by Mashreq. NEOPAY, powered by Mashreq Bank, will reportedly leverage… Read More

March 28, 2022 @ 11:25 am By JD Alois  |  

  Global securities crowdfunding platform OurCrowd will open a global artificial intelligence innovation center in Abu Dhabi later this year, according to a report. The new center is part of the ongoing initiative to connect countries that have normalized relations with Israel because of the… Read More

March 20, 2022 @ 9:03 pm By Omar Faridi  |  

Having served a key role in the regional cryptocurrency and blockchain sector since 2015, BitOasis claims to have established its reputation as one of the most “trusted” virtual currency trading platforms in the UAE (and MENA region). Being part of a fast-evolving crypto industry, there… Read More

March 7, 2022 @ 11:58 pm By Omar Faridi  |  

Jurisdictions under increased monitoring are “actively working” with the Financial Action Task Force (FATF) to address “strategic deficiencies” in their regimes in order to counter money laundering, terrorist financing, and proliferation financing. When the FATF places a jurisdiction under increased monitoring, it “means the country… Read More

March 6, 2022 @ 6:00 pm By Omar Faridi  |  

The Dubai International Financial Centre (DIFC), a global financial center situated in the MENA and South Asia region, has issued a consultation paper “proposing to amend the Real Property Law, DIFC Law No. 10 of 2018.” The Proposed amendments will aim to “facilitate the administration… Read More

March 4, 2022 @ 9:38 pm By Omar Faridi  |  

Dubai-headquartered Fintech firm Alaan has acquired $2.5 million in capital via an investment round. The firm is now coming out of stealth mode. The multi-currency spend management platform developers noted that they would use the proceeds to hire new talent and scale operations across the… Read More

February 14, 2022 @ 11:07 am By JD Alois  |  

KARM Legal Consultant PVT Limited, a UAE legal consultancy firm specialized in blockchain, Fintech and Data Protection/Cyber laws, has announced a partnership with Switzerland-based ScaleCompliance GmbH to provide crypto compliance services. Kokila Alagh, founder and CEO KARM Legal, commented: “We believe in cultivating a divergent… Read More

February 2, 2022 @ 7:17 pm By Tony Zerucha  |  

Kirobo, a decentralized finance application developer, has partnered with Evai, an AI-driven decentralized crypto asset rating platform. Besides a shared client base and investment opportunity agreement, the partnership includes a series of mutual integrations, bringing the users of Kirobo’s Liquid Vault built-in instant analytics on all… Read More

January 29, 2022 @ 4:59 pm By Omar Faridi  |  

The ICICB Group claims that it has an established track record of launching innovative businesses and propositions with consistency. The Group is known for reviewing the scope of possibilities, from initial strategy to technical development. As mentioned in an update shared by the ICICB Group,… Read More

January 24, 2022 @ 9:42 pm By Omar Faridi  |  

Sequoia Capital has reportedly made its first investment in the Gulf / MENA region by leading an investment round for Lean Technologies, a Saudi Arabia-based Fintech company whose founders include the son of the kingdom’s former oil minister, Khalid Al-Falih. Lean Technologies, which allows firms… Read More

December 16, 2021 @ 10:02 am By Omar Faridi  |  

Global Fintech firm MODIFI has announced $145 million in debt financing with existing bank partners Silicon Valley Bank and Solarisbank. The proceeds will be channeled towards addressing rising demand and help more SMEs with trading internationally on MODIFI’s digital platform. The COVID-19 outbreak has “negatively… Read More