DIFC Courts launches tejouri

Gitex Global 2022: DIFC Courts launches global digital vault ‘tejouri’

The new digital vault will enable the upload and secure storing of insurance contracts, title deeds, wills and financial certificates

Dubai leads MENA region on Global Power City Index 2022

Over 1,450 organisations operate across UAE’s Web3 space – report

More than 7,000 individuals work across the country’s Web3 industry

Dubai Chamber launches metaverse academy_GettyImages

Dubai Chamber of Digital Economy launches training programme to support digital startups

A total of 30 businesses from Dubai and other markets will be selected to join the training academy

Chainalysis

Chainalysis to discuss blockchain risks, opportunities and compliance at Gitex Global

Visitors can experience live demos of Chainalysis Storyline, its Web3-native blockchain analysis tool, designed to visualise smart contract transactions

ADIB UTC partnership

ADIB joins e& enterprise blockchain platform UAE Trade Connect

ADIB will use the UAE Trade Connect platform to detect fraud and dubious transactions in the trade finance area

Binance growth rate in MENA

Binance sees 49% YTD rise in new users in MENA region 

Binance recently obtained a minimal viable product license from Dubai’s Virtual Asset Regulatory Authority to offer approved virtual asset-related services

Bitcoin rally loses momentum as expectations for Fed shift eases

Bitcoin, the largest digital coin by market value, dipped as much as 2.9 per cent on Wednesday

Bikeera

Bikeera teams up with Binance Pay to accept virtual payments in the UAE

Settlements will be facilitated by Binance, and the crypto-to-crypto gateway will support various crypto assets such as BNB, Bitcoin and Ethereum

Future Blockchain Summit

Here’s a glimpse at the Future Blockchain Summit 2022’s top disruptors

The fifth edition of the summit will take place from October 10-13, 2022 at the Dubai World Trade Centre

XA Group

UAE’s XA Group rolls out blockchain-based solution to end impasse over claims recovery

Abu Dhabi National Insurance Company, Emirates Insurance Company, Yas Takaful and Oriental Insurance Company are among the first to adopt the solution in the UAE

HSBC executes first blockchain transaction for Middle East’s automotive sector

The Contour platform deploys decentralised technology to integrate digital networks for transfer of data across trade routes

Crypto

Bitcoin, Ether extend crypto selloff as big Fed rate hike looms

An Ether jump since mid-June that was spurred by hype around an upgrade of the Ethereum blockchain is rapidly unwinding

Digital Assets

Cover Story: Why digital assets are key for the financial sector

Digital assets can unlock opportunities with immense potential for the financial services industry, allowing fintechs to offer their clients a host of benefits

Inery

Inery acquires investment from Metavest at $128m valuation

The company aims to expand its use cases – particularly in GameFi, where it seeks to explore the full potential of gaming industry

Ethereum

Ethereum completes long-awaited energy-saving ‘Merge’ upgrade

Ether surged more than fivefold in 2021, outperforming Bitcoin by a wide margin, in part on optimism over the Merge

Bitcoin mining revenue gauge declines to the lowest in two years

The largest cryptocurrency by market value has dropped almost 60 per cent this year to around $19,000

Crypto Oasis

Crypto Valley Association, Crypto Oasis team up to boost blockchain development in the Middle East

The alliance with Crypto Oasis will help build bridges, share knowledge and enable an exchange between crypto-passionates in Switzerland and Middle East

Crypto market cap sinks below $1tn, Bitcoin near 2022 low

The largest digital token has shed more than 6 per cent so far this week

Nigeria

Nigeria, Binance in talks for digital city to develop blockchain

Nigeria is targetting digital technology as a means to help diversify the economy away from crude oil

Bitcoin

Bitcoin loses momentum on weekend with support around 2017 high

Bitcoin dropped as much as 0.8 per cent to $19,591 on Sunday and was little changed as of 7.50am in New York

Rain Financial

Coinbase-backed crypto firm Rain Financial cuts jobs

The staff cuts were made to reflect the operational needs and market conditions

Virtuzone Binance

UAE’s Virtuzone to accept cryptocurrency payments via Binance Pay

Via this partnership, Virtuzone seeks to advance the use of cryptocurrencies and blockchain technologies in the country

Inery

Inery Blockchain launches its first public testnet

The Inery public testnet will allow developers to test the different functions and features of the blockchain

Bitcoin back down to around $20,000 after Jackson Hole caution

Numerous strategists have flagged $20,000 as a key point for Bitcoin

Abu Dhabi blockchain

Abu Dhabi outlines blockchain and virtual assets strategy

The Abu Dhabi Blockchain and Virtual Assets Committee emphasised the significance of regulating blockchain and virtual asset operations to adhere to anti money laundering

DBS Exchange

DBS Exchange says Bitcoin trading surged amid global selloff

The quantity of the world’s largest token, Bitcoin, bought on the members-only exchange was four times higher than April

Bitcoin

Bitcoin nurses losses as momentum gauge flashes price warning

The largest crypto was little changed at $21,330 as of 7.40am in London on Monday

Bitcoin

Bitcoin continues retreat as 200-week average takes focus again

Cryptocurrencies have been battered this year as the Fed hiked rates amid elevated inflation readings

Wissam Breidy

Lebanese media star Wissam Breidy joins Dubai-based Crypto Oasis

The partnership will help break new ground and drive awareness about blockchain technologies in the Arabic speaking community

Bitcoin miners

Largest Bitcoin miners lost over $1bn during crypto crash

Core Scientific, Marathon Digital Holdings and Riot Blockchain posted net losses of $862m, $192m and $366m, respectively