OKX Secures Active VASP License from Dubai VARA, Expanding Operations in the Middle East
OKX Middle East Fintech FZE, the Dubai-based subsidiary of OKX, a leading cryptocurrency exchange and Web3 technology provider, has taken a significant step towards expanding its operations in the region. As of today, the Dubai Virtual Assets Regulatory Authority (VARA) has officially changed OKX’s Virtual Asset Service Provider (VASP) license status from “pending” to “active.” […]
Cryptocom Secures Crypto Payment License in Bahrain, Expands GCC Presence
Crypto.com, a leading global crypto exchange, has secured a crypto payment service provider license in Bahrain from the Central Bank of Bahrain, following its earlier licensing by Dubai’s VARA in the UAE. This license is part of Crypto.com’s strategy to expand its footprint in the GCC region. The license, granted through its Bahrain subsidiary, “FORIS […]
Cypher Capital Joins a $15M Seed Round for Hemi Labs to Enhance Blockchain Interoperability
Cypher Capital, a multi-strategy crypto investment firm, announced its participation in a $15 million seed funding round for Hemi Labs, a blockchain network aiming to unify Bitcoin and Ethereum. The funds will support the development and launch of the Hemi Network, with a focus on advancing blockchain technology and enhancing interoperability through a unified supernetwork. […]
Binance Appoints Stephanie Emile as General Manager for Dubai
Binance, the world’s largest virtual asset exchange by volume and users, has named Stephanie Emile as its new General Manager for Dubai, effective August 2024. Emile brings extensive experience in digital and electronic trading systems and will be instrumental in driving Binance’s growth and operational capabilities in the region. With a strong background in the […]
New Survey Finds UAE Emerging as a Global Tech Hub For Asian Talent
A recent survey conducted by Capital.com has revealed that the United Arab Emirates (UAE) is rapidly gaining recognition as a competitive tech hub. The survey polled 1,000 respondents across Singapore, Hong Kong, Vietnam and India, and found that 81% of Asian tech professionals view the UAE as a growing tech hub. A further 76% of […]
Animoca Brands Considers Hong Kong for Potential IPO, Says Chairman Yat Siu
Animoca Brands Corp., a venture investor in crypto and developer of blockchain games, is considering Hong Kong as a “strong contender” for a potential listing, according to Chairman Yat Siu. A report in June said the location would be either Hong Kong or the Middle East. In a Bloomberg Television interview at a conference in Singapore, Siu […]
Mesh Partners With CoinMENA FZE to Optimize Crypto Onboarding in MENA
Mesh, the modern connectivity layer for crypto that makes transfers and account aggregation seamless, announce its strategic partnership with CoinMENA FZE, a leading digital assets trading platform in the Middle East. This collaboration aims to enhance digital asset transfer services by allowing CoinMENA’s trusted platform to be embedded into Mesh’s product suite, setting new standards […]
UAE’s G42 and Microsoft to Launch AI Centers in Abu Dhabi, Focusing on Responsible AI and Regional Growth
G42, the UAE-based artificial intelligence company, and Microsoft have announced plans to establish two AI centers in Abu Dhabi, deepening their collaboration following a $1.5 billion partnership deal earlier this year. The initiative aims to advance the responsible use of AI and address societal challenges across the Middle East and Global South. The first center […]
BHM Capital Suggests Going Long on Phoenix: MENA Crypto Mining Growth Strategy
According to a recent report by BHM Capital, Phoenix Group PLC (PHX) is poised for significant growth with an aggressive expansion strategy. The report places a 12-month target price of AED 2.37 per share, suggesting a 48.3% potential upside. With a solid financial foundation, strategic acquisitions, and a focus on efficient, large-scale mining, Phoenix is […]
Adaverse Invests $500,000 in UmrahCash to Transform Pilgrimage Finance
Adaverse, a leading Web3 and blockchain fund in Saudi Arabia, has announced a $500,000 investment in UmrahCash, a fintech startup revolutionizing financial services for pilgrims traveling to the Kingdom. This strategic investment is aimed at addressing the financial challenges millions of pilgrims face, particularly in obtaining Saudi Riyals (SAR) for their religious journeys. Addressing a […]