Alphabit

Paid Network(PAID) has closed a $2 Million funding round led by UAE based Alphabit Fund & Master Ventures. Other investors and partners include A195, AU21, Brilliance Ventures, Phoenix VC, and X21. According to the press release,

UAE ABER digital currency is a few years away UAE crypto legislation end of 2020 early 2021 More investments and blockchain projects in the future

Investors of digital assets are extremely optimistic that 2020 will see the emergence of a strong ecosystem in the UAE. The most recent one was Arabian Bourse (ABX), which received in-principal approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) as a crypto asset exchange and custodian.