Category: Uncategorized

Saudi Arabia Plans $100 Billion AI Initiative: Project Transcendence

Saudi Arabia is launching a new artificial intelligence initiative, backed by up to $100 billion, as part of its ambition to establish itself as a global technology hub, competing with the United Arab Emirates, as reported by Bloomberg. According to sources familiar with the plans, this state-backed project, dubbed “Project Transcendence,” will focus on developing […]

Loyyal’s Xpand Point Partners with Easyrewardz to Bring Points Exchange to Loyalty Programs across Regions

Easyrewardz, a leading provider of cloud-based CRM and loyalty platform, has announced a strategic partnership with Loyyal, a UAE-based pioneer in blockchain-powered loyalty solutions. This collaboration is set to redefine the loyalty landscape by introducing enhanced point conversion capabilities and offering unique, experiential redemption options, giving customers more flexible and engaging ways to use their […]

UAE Stablecoin Market Gains Momentum with 55% Growth Under New Regulations

As 2024 unfolds, stablecoins are taking center stage in the UAE’s cryptocurrency landscape. In the first half of the year, the total value of stablecoins received by services, particularly centralized (CEX) and decentralized exchanges (DEX), surpassed $9.8 billion—a remarkable 55% increase from the $6.3 billion recorded in the same period of 2023. This development has […]

M2 Exchange Restores Customer Funds Following $13.7 Million Cybersecurity Incident

On October 31, 2024, at 3:16 AM (GMT+4), UAE-based cryptocurrency exchange M2 faced a cybersecurity breach involving approximately $13.7 million in customer assets. Within minutes, at 3:32 AM, the exchange responded decisively to contain and address the breach. M2 has reported that all affected funds have been restored and that additional security measures are now […]

Zand Bank’s Strategic Journey in UAE’s Digital Asset Landscape

Zand Bank has swiftly emerged as a significant player in the UAE’s digital asset ecosystem, transitioning from its initial role as the country’s first fully licensed digital bank into a potentially comprehensive digital asset service provider. With its upcoming Virtual Assets Regulatory Authority (VARA) custodian license and its potential application for a stablecoin license with […]

Realize Launches Innovative Tokenized T-BILLS Fund in Abu Dhabi

Realize, a technology firm based in Abu Dhabi, has introduced an investment vehicle designed to purchase units of exchange-traded funds (ETFs) focused on U.S. Treasury bills and convert these assets into digital tokens for blockchain trading and transfer. Named the Realize T-BILLS Fund, it aims to acquire units from BlackRock’s iShares and State Street’s SPDR, […]

Changpeng Zhao Speaks Publicly for the First Time After Jail at Binance Blockchain Week

Changpeng Zhao, the founder of Binance, made headlines at Binance Blockchain Week in Dubai today, marking his first public speaking engagement since completing a four-month jail term. His return follows a period of legal scrutiny during which he admitted to violating the Bank Secrecy Act (BSA), prompting Binance to implement a more effective know-your-customer (KYC) […]

Saudi-China ETF Alliance Challenges U.S. Dominance as Bitcoin Climbs on Institutional Demand

Bitcoin’s rally continues, reaching a new peak of $73,500, driven by strong institutional interest and record-breaking Bitcoin ETF holdings in the U.S., which now exceed $66 billion. Open interest in Bitcoin surged by $2 billion within 48 hours, reflecting heightened trading activity. Analysts remain optimistic, with expectations that Bitcoin may need to close above $76,000 […]