Places Middle East

Bitcoin’s $132 billion market cap might be a far cry from its 2017 all-time high, but it doesn’t mean it’s not playing in the big leagues. According to data from the CIA, Bitcoin’s current market cap makes it the 34th largest economy in terms of M1 money supply, just below the United Arab Emirates (UAE) […]

Turkey’s most exclusive blockchain event — IstanBlock 2020 — launches its early bird ticket sale today, amid huge excitement across the region for the first speaker announcement, expected in the coming weeks. IstanBlock 2020 takes place April 9-10 and will be the flagship event of Istanbul Blockchain Week, running April 6-10. Excitement for the exclusive […]

Binance, the world’s biggest crypto exchange, is taking steps to expand into Turkey, an up-and-coming cryptocurrency market. Speaking to Cointelegraph, Binance CEO Changpeng Zhao said the company is establishing a team of a dozen full-time employees in the country. Zhao said: “Other than that we really want to invest in Turkey heavily. We also want […]

Istanbul will host its first-ever Turkey blockchain week from April 6-10, with the main event IstanBlock 2020 being held on April 9-10. Throughout the week the focus will be on Turkey’s rapid and growing adoption of the technology, and the opportunities it presents. The event has already attracted big names, including government speakers and Turkish […]

At the end of October 2019, the blockchain-focused media company BLOCKTV announced the Nov. 21, 2019, launch of its native cryptocurrency on Bittrex Global. The BLTV token will reportedly be used by creators, advertisers, and creators to improve engagement on the platform. Since the announcement, some commentators have, however, picked apart the real utility of […]

Huobi has pledged its commitment to the Turkish crypto community in a big way, announcing a slew of initiatives at last week’s Eurasia Blockchain Summit. The introduction of Turkish Lira (TRY) deposits for users of its global exchange was the main talking point, but a number of ancillary announcements further demonstrated Huobi’s support for bolstering […]

GitHub, a San Francisco-based open-source code hosting provider, was prevented from providing sanctioned nations, including Iran and Syria, with access to their supposedly open-source services. These restrictions highlight the need for decentralized web utilities—like Bitcoin and Ethereum. Nat Friedman, CEO of GitHub, revealed that the Microsoft-owned web utility provider was compelled to abide by U.S. […]

Cryptocurrency mining farms have been booming in Iran due to its low electricity costs. According to a research conducted by Elite Fixtures, it only costs $3,217 to mine Bitcoin in the Islamic nation using specialized mining hardware, such as the AntMiner S9, the AntMiner S7, and the Avalon 6. The rising number of mining farms […]

Cryptocurrency exchange BitOasis is on track to receive a license to operate in the Middle East after being granted in-principle approval (IPA) from the U.A.E’s financial regulator. The Dubai-based platform, which launched in 2015, announced today that it had received approval from the Financial Services Regulatory Authority (FSRA) at the Abu Dhabi Global Market (ADGM) […]

The United Arab Emirates and its neighbor Saudi Arabia launched a government-backed cryptocurrency to facilitate cross-border payments. The launch was part of a seven-point co-operation plan that was unveiled on Jan. 20th. Apart from cryptocurrency development, the rest of the plan includes a sort of customs union, which allows Saudi and Emirati small and medium-sized enterprises […]

Iran’s Public Relations and Information Center for the Vice Presidency for Science and Technology suggest interest in blockchain by encouraging improvements to “the infrastructure of blockchain technology with the help of [the] government and private sector.” This latest move indicates Iran is keen on joining other nations in getting a jump on the potential benefits […]

UAE Exchange, one of the leading global money transfer and exchange solutions, plans to implement RippleNet into its service by Q1 of 2019. The move would make UAE Exchange the largest payment solutions provider in the Middle East to use Ripple’s technology. Ripple has secured another banking partner, this time in the UAE. UAE Exchange […]

The downturn of the crypto market has forced Beijing-based Bitcoin mining giant Bitmain to close its blockchain development center in Israel and lay off all of its employees, Israeli business news outlet Globes reported on December 10, 2018. Shutting Down All Operations in Israel While many predicted that the bear market wouldn’t last longer than […]

Leading the way in research and development expenditures of GDP by percent, cultivating a thriving startup culture comparable to Silicon Valley, Israel is one to watch in the world of blockchain tech innovation. An Environment Ripe for Innovative Companies The country’s friendliness toward startup companies appears to be driving much of its recent innovation. In […]

The United Arab Emirates is spearheading cryptocurrency adoption in the Gulf region and intends to introduce initial coin offerings (ICOs) as a legal means-of-fundraising in 2019, reported Reuters on Oct. 8. UAE’s ICO Push The oil-dependent economy faces serious financial implications after its prized oil reserves run out in the next 50 years. However, rulers […]

Dubai’s credit agency announced an official partnership with cryptocurrency-payments provider Pundi X on Oct. 8, according to an official release. Pundi X Brings State-Backed Crypto to the Masses In a step towards the widespread adoption of blockchain technology and cryptocurrency as an accepted means-of-payment, Dubai’s Emcredit bureau and regional distributor Ebooc, a loyalty programs startup, […]

According to a recent news release by the Israel Securities Authority (ISA), the regulator has started utilizing blockchain technology to improve cybersecurity and more effectively address challenges regarding information security. The ISA was established in 1968 and seeks to ensure an efficient capital market based on transparency and fairness. The ISA models its practices on […]

When it was authorized as the first established bank in Saudi Arabia, the National Commercial Bank (NCB) was slated to become the largest financial institution in the Middle East. Sixty-five years and 400 branches later, the Kingdom of Saudi Arabia (KSA) has joined forces with Ripple’s cryptocurrency enterprise. Saudi Arabia to Benefit from Ripple Technology […]