With the exponential growth of cryptocurrencies in MENA, both industry heavyweights Binance and Kraken have gained virtual asset trading licenses for the MENA region via Abu Dhabi Global Market (ADGM) allowing both trading firms license to operate as broker-dealer of virtual assets in the region.
Binance has big plans for...
It was announced that MENA’s first listed digital asset-based fund has enlisted bitcoin-based exchange-traded products. 3iQ Corp, the largest Canada-based digital asset investment fund manager has officially listed the Bitcoin Fund on the Nasdaq Dubai. Even amidst the recent turbulence for the cryptocurrency all over the world which pretty...
Although not many blockchain or DeFi projects have arisen from Saudi Arabia, the country has been partnering with many industry players and is working hard to develop homegrown trials in integrating the technology into their economy.
Saudi Arabia CBDC
The central bank of Saudi Arabia has launch the country's first digital...
It was announced that the Dubai-based popular digitized resource exchanging platform BitOasis has been conceded a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM).
The firm said that it is presently pursuing the relocation of its tasks towards their launch...
The DFSA or the Dubai Financial Services Authority is putting on extra efforts to provide more standardized framework solutions for their regulations toward cryptocurrency. Dubai’s financial regulators have already called on members of the public on 5th April to submit their comments on the proposed regulatory changes for cryptocurrency.
The...
The recent high-profile partnership between the Dubai Department of Finance (DOF) and cryptocurrency exchange Crypto.com, touted as a significant leap towards Dubai's "Cashless Strategy," is raising eyebrows among financial experts and consumer advocates. While Dubai champions itself as a global hub for financial innovation, the decision to entrust a...
Unique Finance is the latest scam taking Iran by storm, taking advantage of economic difficulties in Iran and the desire of the youth to make quick gains having seen previous scams like the BRG token by Sina Estavi, Nima Tabari Fard, has come up with UNQT, Unique Finance Token...
The KSA based blockchain startup IR4LAB has managed to raise about $1.5M in an investment fund round. The round was led by Wa’ed which is the entrepreneurship arm of Aramco. IR4LAB was founded back in 2017 and they’ve been offering access to corporations to root out resumes and professional...
Despite having misconceptions in the MENA region on crypto coins over regulatory issues and having concerted efforts to stutter the growth of crypto, the new currency continues to gain more and more acceptance as days go by in the MENA trading.
The leading cryptocurrency Bitcoin traded higher this week rising...
It was announced that the Central Bank of Bahrain (CBB) is working together with J.P. Morgan and Bank ABC to present an ongoing cross-line transaction arrangement in advanced cash repayment pilot methods. Bank ABC alongside J.P. Morgan will guide the moving of assets from and to the Kingdom of...
