Tag: UAE

The Central Bank of the United Arab Emirates (CBUAE) has officially approved the use of Web3 insurance solutions, signalling a major milestone for blockchain adoption in the region. This move positions the UAE as a leader in integrating decentralised technologies within its financial sector. On Tuesday, April 16, the CBUAE ...

Sheikh Tahnoon Bin Zayed Al Nahyan, the United Arab Emirates’ national security adviser, recently met with key figures in President Donald Trump’s administration to discuss artificial intelligence, digital currencies, and investment opportunities between the two nations. In a March 20 post on X, Sheikh Tahnoon revealed that he had spoken ...

Bybit is advancing toward securing a full operational license in the United Arab Emirates (UAE) following recent regulatory approval despite facing one of the largest crypto hacks in history. On February 27, Bybit announced that it had received in-principle approval from the UAE’s Securities and Commodities Authority (SCA) to establish ...

According to data from app analytics platform AppsFlyer,  2024 cryptocurrency app adoption in the United Arab Emirates saw a significant increase, with downloads of the top 49 crypto apps rising from 6.2 million in 2023 to 15 million, a 41% growth. This trend was especially notable in the year's second ...

Klickl, a UAE-based Web3 financial platform, has partnered with IMKAN Properties to enable cryptocurrency transactions for real estate purchases in the country. The collaboration allows buyers to invest in premium properties using digital assets such as Bitcoin, Ethereum, and USDT. This initiative simplifies transactions for both local and international investors, ...

CLS Global has agreed to plead guilty to charges of fraudulent market manipulation and wire fraud following an undercover operation led by the U.S.’s Federal Bureau of Investigation (FBI). According to a plea deal announced on January 21, the United Arab Emirates-based crypto trading firm admitted to aiding in the ...

Mastercard has launched its Crypto Credential solution in the EEMEA region, beginning with the UAE and Kazakhstan. This initiative aims to enhance the accessibility and security of cryptocurrency transfers, marking Mastercard's entry into this market. The Crypto Credential service allows users to send and receive digital assets using simple aliases ...

Dubai will become the new operational hub for Deribit, a leading crypto options trading platform, as it prepares to launch spot and derivatives trading in the United Arab Emirates (UAE) on January 1, 2025. In a recent press release, the platform announced that it will migrate its operations and approximately ...

Ripple has received in-principle approval from the Dubai Financial Services Authority (DFSA) to expand its services within the Dubai International Financial Centre (DIFC).  According its press release, Ripple plans to build on the approval by extending its enterprise-grade digital asset infrastructure and introducing cross-border payment services, including Ripple Payments Direct ...

The biggest stablecoin issuer Tether has announced plans to launch a new stablecoin tied to the United Arab Emirates’s dirham (AED). In a press release, on August 21, Tether announced that this new stablecoin will be launched in partnership with UAE-based Phoenix Group and Green Acorn Investments.  The collaboration is ...