Tue, May 21

UAE Central Bank Takes First Steps Towards CBDC Development

First steps toward a central bank digital currency (CBDC) strategy are being developed by the Central Bank of the United Arab Emirates (CBUAE). Both retail and wholesale applications of CBDC are being considered. On March 23, the CBUAE and R3 and G42 Cloud, a division of the UAE-based AI holding

March 26, 2024 1 min read

Paxos Secures Preliminary Approval from ADGM to Offer Services in UAE

As part of its ongoing global expansion, crypto firm Paxos recently obtained two preliminary approvals in Abu Dhabi. On Wednesday, Paxos said that the Financial Services Regulatory Authority in the Abu Dhabi Global Market (ADGM) had given the firm two in-principle permissions to issue stablecoins and provide crypto brokerage and

November 30, 2023 2 mins read

eToro Secures FSP License from ADGM To Operate in UAE

The United Arab Emirates (UAE) has granted eToro a Financial Services Permission (FSP) license, allowing the global trading and investing platform to begin operations. The Abu Dhabi Financial Markets Authority (ADGM), located in the capital of the UAE, is a worldwide financial hub. They granted eToro Financial Services Permission (FSP),

November 27, 2023 1 min read

Ras Al Khaimah Introduces New Free Zone To Attract Web3 Firms

One of the Emirates of UAE, Ras Al Khaimah, is taking deliberate effort to broaden its financial landscape. The RAK Digital Assets Oasis (RAK DAO) is a new free zone in the emirate that aims to support and promote the digital and virtual asset industry. The goal of this project

October 19, 2023 1 min read

Bitgert (BRISE) Takes Giant Leap in Blockchain Development

In a series of developments, BRISE has unveiled an array of initiatives that are primed to initiate newer trends in the blockchain industry. From entering the electric vehicle (EV) market in the United Arab Emirates (UAE) to the launch of Oracle Web3 Testnet, BRISE has established innovative standards. ⚡️ BIG

September 14, 2023 2 mins read

Crypto Mining Firm Phoenix Technology Contemplates IPO in UAE

Cryptocurrency mining gear supplier and mining facility operator Phoenix Technology is contemplating an IPO as per a Bloomberg report. The article claims that preliminary discussions have been in place for an IPO for Phoenix in Abu Dhabi. The UAE-based firm signed a $650 million contract for mining rigs in 2021,

July 28, 2023 1 min read

UAE Grants License to Crypto Exchange Rain for Virtual Asset Services

Rain, a Middle Eastern cryptocurrency exchange, announced that its Abu Dhabi branch has been granted a license to provide brokerage and custody services for virtual assets in the UAE. Coinbase-backed Rain, located in Bahrain, has announced that its subsidiary in the Abu Dhabi Global Market financial freezone would soon provide

July 25, 2023 2 mins read

UAE Central Bank Issues New AML Guidelines for Crypto Sector

The UAE Central Bank has updated its regulations for financial institutions. To follow in order to prevent money laundering and the funding of terrorism in connection with digital currencies and NFTs. New anti-money laundering and counter-terrorism funding criteria for financial institutions are being adopted. This is being done by central

June 1, 2023 1 min read