Places UAE

FTX Europe became the first approved virtual asset exchange to offer complex crypto derivatives dedicated to professional institutional investors within the highly regarded international jurisdiction.

Crypto exchange Binance is in discussions with Dubai World Trade Centre free zone for a virtual asset service provider license to operate in Dubai. A favorable ruling would further bolster its presence in the Middle East.

The Emirate announced the enactment of The Dubai Virtual Asset Regulation Law, under which it will establish a new regulatory authority to oversee the virtual asset industry, which includes crypto and NFTs.

CZ is becoming a fixture in the UAE and wants to bring Binance into the country's booming crypto scene.

The Dubai World Trade Centre Authority sets out to become a “comprehensive zone and regulator for virtual assets and crypto.”

With the new initiative, the United Arab Emirates (UAE) continue ranking high on the list of crypto-friendly jurisdictions. 

The fund will allow the Middle East’s first listed digital asset product to be able to deliver on the growing demand from regional institutional investors.

The Middle East and North Africa (MENA) region is home to the world’s top remittance corridors. 

Decentralized payments network RippleNet will be used to connect the National Bank of Egypt and UAE-based financial services provider LuLu International Exchange.

UAE investors were more upbeat on the future of the broader crypto market than Western expats, a survey found.

3IQ's rapidly-growing Bitcoin Fund turns its sights to the Middle East.

FD7 Ventures, a Dubai-based crypto investment fund with $1 billion under management, has announced plans to sell off $750 million worth of their Bitcoin holdings in the next month. The proceeds from the sell-off will be used to purchase Cardano and Polkadot, as the fund’s managing director says he believes ADA, DOT, and ETH will […]

Two Nigerian scammers were held last week after hatching an elaborate fraud to steal “$435 million around the world” using illicit emails, luxury brand showoffs, and Bitcoin. Identified as Ramon “Hushpuppi” Abbas and Olalekan “Woodberry” Ponle, the duo showed off a lavish lifestyle complete with luxury cars, expensive watches, private jets, and gold watches on […]

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 […]

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 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, […]