Tagged: united arab emirates

Binance Obtains MVP License from Dubai’s Virtual Assets Regulatory Authority

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

Digital Banking: Wio Bank PJSC Launches in the UAE

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

Blockchain.com Obtains Provisional Approval to Operate in Dubai

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

Emirates Development Bank to Approve New Loans to SMEs, Startups

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

Ajman Bank to Introduce Mastercard Touch Card, Driving Inclusion across UAE

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

Abu Dhabi to Introduce Blockchain, Digital Assets Strategy

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

Digital Asset Firm Gate.io Group Is Offering OTC Block Trading Service in Dubai

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

Standard Chartered Appoints Ayesha Abbas as UAE Head Of Consumer, Private And Business Banking

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

Emirates NBD to Support Metaverse Startup Accelerator

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

UAE based Proptech SmartCrowd Obtains Saudi Fintech License

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

Fintech Appro, which Digitizes Retail Banking Services, Launched in Dubai by SC Ventures

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

Komainu, a Nomura-backed Crypto Custodian, Granted Provisional Regulatory Approval in Dubai

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

FTX Exchange FZE Obtains Dubai’s First Virtual Asset Service Provider MVP License

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

Huobi Group Given MVP Provisional Approval from Dubai Virtual Assets Regulatory Authority

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

Digital Asset Exchange OKX Obtains Dubai VARA Provisional License

OKX, which claims to be one of the leading crypto trading apps, recently announced that it has been granted a provisional virtual assets (VA) license “to provide services to qualified investors in the UAE.” Granted by the Dubai Virtual Assets Regulatory Authority (VARA), OKX’s provisional… Read More

MENA’s Tarabut Gateway, an Open Banking Platform, Announces Senior Appointments

Tarabut Gateway, which claims to be the largest Open Banking platform in the MENA region with a market presence in Bahrain, the UAE and KSA, announced (earlier this week) two new appointments to its senior executive team, Nino Ocampo and Adnan Erriade. Nino joins as… Read More

Oman Insurance Co Now Live with Innoveo ZeroCode Platform to Power Fleet Insurance

Innoveo, a global tech firm and “pioneer” in no-code platform-as-a-service, announced that Oman Insurance company, one of the largest publicly listed insurers in the United Arab Emirates, has successfully gone live with its ZeroCode ‘KUDOS’ platform “leveraging Innoveo Skye, driving near-immediate efficiencies and enhancing the… Read More

Visa, First Abu Dhabi Bank, DBWC Introduce “She’s Next” Initiative in UAE

Visa (NYSE: V), which claims to be the leader in virtual payments, recently announced the launch of its global She’s Next initiative in the United Arab Emirates in order to economically empower women entrepreneurs. The initiative has been introduced with assistance from First Abu Dhabi… Read More

CoinMENA Obtains Provisional License from Dubai’s Virtual Asset Regulatory Authority

Dina Sam’an, the Founder and Managing Director of CoinMENA, notes that she’s very excited to share that CoinMENA has obtained a provisional license from Dubai’s Virtual Asset Regulatory Authority (VARA). Sam’an adds that regulatory compliance has been a “top priority” for CoinMENA from day one…. Read More

ADGM-based FinaMaze Partners with Ned Davis Research

Pursuing its “innovative” path in the UAE asset management sector, FinaMaze recently announced a partnership with investment research firm, Ned Davis Research (NDR). This partnership, the “first of its kind” in the GCC region, will see NDR providing research and high-level intelligence to the ADGM-regulated… Read More

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