MENA News
Discover the latest blockchain and crypto news from the MENA region, including updates from Dubai, Abu Dhabi, Bahrain, Qatar, and Oman, covering trends, regulations, and developments shaping the industry
Dubai’s Virtual Assets Regulatory Authority (VARA) has issued a fresh reminder to Virtual Asset Service Providers (VASPs) and market participants on the mandatory licensing requirements for entities engaged in Virtual Asset (VA) Proprietary Trading. Established under Law No. (4) of 2022, VARA continues to enforce its mandate to maintain a secure, transparent, and compliant virtual asset market in line with global best practices. Mandatory Licensing for VA Proprietary Trading Under…
Read More »Abu Dhabi-based Phoenix Group (ADX: PHX) has taken a historic step by formally launching a $150 million Bitcoin and crypto treasury, becoming the first company on the Abu Dhabi Securities Exchange (ADX) to do so. With 514 BTC now disclosed, alongside more than 630,000 SOL, Phoenix joins the ranks of the world’s top 50 corporate Bitcoin holders — a milestone that positions the company firmly on the global digital asset…
Read More »In a new move for the UAE’s financial sector, RAKBANK has unveiled its new crypto brokerage service, becoming the first traditional bank in the country to offer retail customers the ability to buy, sell, and swap cryptocurrencies directly through its mobile banking app. This new service is powered by a partnership with Bitpanda, a globally recognized digital asset infrastructure provider. By integrating Bitpanda’s trading platform, RAKBANK enables users to conduct…
Read More »OKX has reached a defining moment in its UAE journey, becoming the first global exchange to offer regulated retail derivatives products in the country. Under the VARA pilot framework, retail traders now have access to futures, perpetual contracts, and options — with leverage capped at 5x to ensure responsible participation. “This represents a pivotal moment for both OKX and the UAE’s broader digital asset ecosystem,” said Rifad Mahasneh, CEO of…
Read More »The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has released its 2024 Annual Report, outlining a year of robust regulatory progress, digital asset innovation, and increased international alignment. As the financial regulator of ADGM—Abu Dhabi’s international financial centre—the FSRA emphasized its strengthened regulatory framework, commitment to combating financial crime, and enhanced support for innovation-driven finance. Key Regulatory Milestones in 2024 One of the most notable developments…
Read More »The Middle East’s most influential financial technology gathering, Wiki Finance Expo Dubai 2025, is set to take place on November 11, 2025, at the Millennium Plaza Downtown Hotel, Dubai. With a focus on Fintech, Forex, Crypto, Web3.0, and AI, the expo will bring together over 5,000 attendees, 50+ expert speakers, and 70+ leading exhibitors for a full day of innovation, insights, and global networking. The event will provide a platform…
Read More »Hut 8 Corp., a digital infrastructure company powering Bitcoin mining and high-performance computing, has announced that its subsidiary, Hut 8 Investment Ltd, has obtained a Commercial License in the Dubai International Financial Centre (DIFC). This milestone marks a key step in Hut 8’s broader capital strategy and enables it to deepen its presence in global financial markets. The DIFC license permits Hut 8 to carry out proprietary investments and select…
Read More »The Dubai Financial Services Authority (DFSA) has officially moved into the second phase of its Tokenization Regulatory Sandbox, inviting selected firms to conduct live testing under its Innovation Testing License (ITL) framework. The initiative reinforces the DFSA’s commitment to enabling responsible financial innovation within the Dubai International Financial Centre (DIFC), with a strong emphasis on asset tokenization. In March 2025, DFSA launched the Tokenization Regulatory Sandbox, inviting applications from both…
Read More »Abu Dhabi has become the first government authority in the Middle East to officially accept payments in digital currency for judicial services, a major step forward in the UAE’s digital transformation agenda. The Abu Dhabi Judicial Department (ADJD) has begun accepting AE Coin, a UAE Central Bank-regulated stablecoin, as a payment method for court-related fees. This initiative follows a strategic partnership between ADJD and Al Maryah Bank, a local financial…
Read More »In a new development for digital finance in the UAE, Al Maryah Community Bank (Mbank) has partnered with the Select Market retail chain to launch a new payment service using AE Coin, the country’s first dirham-backed stablecoin approved by the Central Bank of the UAE. The rollout enables customers at Select Market branches to pay for their purchases using the AEC Wallet, a secure mobile app that allows for instant,…
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