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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 United Arab Emirates and its neighbor Saudi Arabia launched a government-backed cryptocurrency to facilitate cross-border payments.
UAE Exchange, one of the leading global money transfer and exchange solutions, plans to implement RippleNet into its service by Q1 of 2019.
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 October 8.
Dubai’s credit agency announced an official partnership with cryptocurrency-payments provider Pundi X on October 8, according to an official release.
The Dubai International Financial Center announced the launch of a new initiative in partnership with the Smart Dubai project to establish the world’s first “Court of the Blockchain.” Announced July 30, 2018, the new alliance between the DIFC and Smart Dubai intends to explore the applications of blockchain technology in verifying cross-border court judgments.