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UAE DWF Labs launch $250 million crypto projects Liquid Fund

UAE DWF Labs launch $250 million crypto projects Liquid Fund

UAE based DWF Labs, the new generation crypto market maker and investor announced the launch of their $250 million Liquid Fund to accelerate the adoption and expansion of mid and large cap crypto projects.

As per the announcement, the firm already invested over $11 million into promising blockchain projects and will sign two major investment deals worth $25 million and $10 million as part of this $250 million Liquid Fund, with more announcements coming up in the pipeline.

This initiative aligns with DWF Labs’ commitment to supercharge real growth in the wider crypto landscape, with investment sizes ranging from $10 million to $50 million per project. The fund will provide strategic crypto venture capital and ecosystem support, ensuring sustainable growth for projects that drive real-world adoption and help promote change in the industry.

Unlike traditional investments, each deal will also include a full-scale ecosystem growth strategy tailored to the needs of the project. This includes, stablecoin TVL and Ecosystem Expansion, Supporting liquidity and DeFi activity for L1/L2 networks. It will also include lending markets development, PR and Brand amplification, and comprehensive GTM strategy.

“Through this fund, we are doubling down on our mission to accelerate Web3 innovation and adoption,” said Andrei Grachev, Managing Partner at DWF Labs. “We believe that strategic capital, coupled with hands-on ecosystem development, is the key to unlocking the next wave of growth for the industry.”

UAE based Dohrnii and Blynex crypto exchange bury the hatchet

UAE based Dohrnii and Blynex crypto exchange bury the hatchet

After a few days of heated, he said she said drama with accusations of mis conduct attributed to both parties, UAE based Dohrnii Labs which seeks to empower financial education with blockchain and gamified learning and its utility token, DHN which it notes powers the Dohrnii ecosystem, and Blynex crypto exchange announced in a general post that all is resolved and everything is water under the bridge.

In an X post, they announced that thy were pleased to have successfully resolved all outstanding issues and have reached a mutually beneficial agreement.

The statement read, ” Following constructive dialogue and a shared commitment to long-term collaboration and innovation in the blockchain and fintech sectors, both parties have agreed on terms that close the chapter on recent disagreements. The resolution underscores the professionalism and forward-thinking approach of both teams, reaffirming their mutual respect and focus on delivering value to their respective communities.”

It added, that with this agreement, all prior concerns are considered settled, and both organizations reaffirm their commitment to professionalism, user trust, and the advancement of blockchain-based financial solutions.

In addition, the parties agreed to mutual cooperation and Blynex will provide self loan dashboard and staking for DHN Team as a sign of support for the project.

This comes after Dohrnii Labs took legal and police action again Blynex, an unregulated crypto exchange with a presence in the UAE. According to Dohrnii Labs, the company filed a police report against Blynex while attempting to withdraw 4000 DHN tokens were blocked from doing so, and also noted that Blynex had liquidated 8,600 of their DHN collateral selling it for 148,160.64 USDT. The company claimed that this was done without authorization, and demanded the immediate release of the 4,000 DHN and the return of the full USDT amount generate from their collateral.

With the end to the saga, all Dohrnii’s X posts accusing Blynx have been deleted.

Blockchain payments platform Due launches in UAE

Blockchain payments platform Due launches in UAE

Established in 2022, Due a UK based fintech startup using blockchain and stablecoin technology to reshape international payments has established a presence in the UAE. The company which provides borderless multi-currency accounts, global transfers / remittances and merchant acquiring for individuals and businesses announced on X that they were now live in the UAE. The post stated, ” We’re Live in the UAE! We’re launching Due in the UAE, making it easier than ever to send and receive AED all powered by stablecoins and local payment rails.”

As per the post Due will be offering easy deposits with effortless top-ups through local AED transfers, fast & affordable Payouts AED payments with low fees and instant settlement, and unique Local Virtual Accounts with dedicated AED account details to get paid locally.

The company built its platform on top of public blockchains, leveraging stablecoin liquidity markets across Europe, US, LatAm and Africa to enable accessible, fast, and cheap international money movements for clients around the world. Due’s platform is non-custodial.

It was founded by Robert Sargsian and Alex Popov. Robert previously worked at Revolut (largest neobank in Europe) where he was part of the Chief Revenue Officer team, leading new bets / special projects in Retail/Credit and Crypto and helping shape the company’s global Crypto strategy.

UAE regulated stablecoin environment

The UAE is the first country in MENA region to regulate stablecoins through its Central Bank. It allows AED stablecoins to be used as a legal tender, while other virtual stablecoins once regulated can be used for the purchase of virtual assets.

So far one AED stablecoin has been regulated, the AE Coin.

UAE Emirates NBD and BlackRock to create alternative investment platform

UAE Emirates NBD and BlackRock to create alternative investment platform

Emirates NBD, a banking group in Middle East, North Africa, and Türkiye (MENAT) region, has signed an agreement with BlackRock to create an investment platform that will provide the bank’s wealth clients access to alternatives, specifically within private markets which was traditionally only available to institutional investors in the region.

There are two main types of alternative investments. First are private assets such as private equity, private credit, infrastructure and private real estate. They are more complex and less frequently traded than public stocks and bonds, and give investors access to additional sources of return. Hedge funds, the second type, operate mainly in public markets but use less traditional tools such as short-selling and leverage.

The private markets segment is the fastest growing segment and with alternative assets expected to reach $30 trillion by the end of the decade. Emirates NBD Asset Management and BlackRock will launch an initial range of evergreen offerings targeting income and growth strategies on an exclusive basis for the UAE wealth market. Alongside these strategies, BlackRock will deploy its open architecture approach to support Emirates NBD Asset Management’s plans to expand its private markets offering by providing additional services such as marketing, education, training and technology.

Through the Emirates NBD Asset Management platform, the long-term goal is to democratise the alternative assets space and offer Emirates NBD’s clients across the Middle East access to alternatives across all major asset classes.

Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, commented, “Innovation is a cornerstone at Emirates NBD, and we are pleased to partner with BlackRock to offer access to best-in-class, products in alternative markets through a dedicated platform while supporting the growing needs of investors in the region. We are deeply committed to creating value through our offerings and advancing the investment landscape in the UAE and the wider region, which has been experiencing a strong appetite in the last few years.”

Rachel Lord, Head of International at BlackRock, said, “We are delighted to partner with Emirates NBD as they build out their private markets platform. Spurred by investor sentiment and facilitated by product innovation, technology, and regulatory advancements, wealth allocations to private markets are predicted to increase materially over the next five years. The combination of Emirates NBD’s distribution capabilities and reach across the region, combined with BlackRock’s expertise and global leadership in private markets, will be a compelling proposition for Middle Eastern investors.”

The private markets offerings will be based on BlackRock’s Alternative Investments platform, which now exceeds $450 billion AUM and supported by over 1,000 personnel in more than 50 countries.

BlackRock obtained license in ADGM UAE in 2024

BlackRock obtained a commercial license in Abu Dhabi and has revealed plans to seek regulatory approval to operate in the Abu Dhabi Global Market (ADGM). This came weeks after the US asset manager, with $11.4 trillion in AUM, announced its plans to set up its regional headquarters in Saudi Arabia.

BlackRock said the Abu Dhabi move would allow it to work with sovereign wealth funds, wealth managers and investment vehicles based in the UAE capital, with a focus on AI infrastructure and transition focused solutions. Earlier BlackRock appointed Mohammad AlFahim as Head of the UAE, while Ben Powell relocated to the region to serve clients as BlackRock Investment Institute’s first Chief Middle East & APAC Investment Strategist.

BlackRock lists first Bitcoin ETP product outside USA

The announcement comes as BlackRock, the global asset manager behind the largest U.S. spot bitcoin (BTC) exchange-traded fund (ETF), is set to list a bitcoin exchange-traded product (ETP) in Europe, its first crypto ETP outside North America. The iShares Bitcoin ETP will trade on Xetra and Euronext in Paris under the ticker IB1T and on Euronext Amsterdam as BTCN on Tuesday, according listing details on iShares’ website.

BlackRock’s ishares Bitcoin ETF is worth over $50 billion.

Could UAE be the next?

ACET Blockchain DeFi platform and H.H. Sheikh Al Qassimi of UAE for digital payments offering

ACET Blockchain DeFi platform and H.H. Sheikh Al Qassimi of UAE for digital payments offering

ACET ($ACT), a blockchain-powered decentralized finance (DeFi) platform, has signed an Memorandum of Understanding (MoU) with the Royal Office of His Highness Sheikh Ahmed Bin Faisal Al-Qassimi, UAE Royal family member in Sharjah to offer digital payments in largest casino project.

As per the press release, this strategic alliance is set to drive blockchain adoption, accelerate regulatory advancements, and redefine financial innovation on a global scale, with the UAE leading the digital transformation revolution.

Highness Sheikh Ahmed Bin Faisal Al-Qassimi noted that collaboration seeks to position ACET ($ACT) as part of the UAE’s national reserve and establish it as a key digital payment partner in the world’s largest casino resort project. The initiative will also enhance ACT’s real-world utility, facilitating its acceptance within the gaming, hospitality, and luxury resort sectors.

His Highness Sheikh Ahmed Bin Faisal Al-Qassimi expressed strong support for the initiative, stated, “We are now entering a new era of the digital economy. The collaboration with ACET ($ACT) marks a significant step toward establishing a modern, reliable, and internationally recognized financial system. ACET ($ACT) possesses immense potential to serve as the cornerstone of the digital payment infrastructure and stand as a stable financial asset for the future.”

This MOU grants ACET ($ACT) several strategic advantages, such as integration as an official payment partners for one of the largest casino resort projects globally. The MOU will seek to grant regulatory and licensing support for ACET assisting the company in seeking regulatory compliance within the UAE’s financial ecosystem.

Additionally the Royal Office will support ACET ($ACT) in blockchain-related projects and digital asset expansion.


Acme Worawat, the founder of ACET ($ACT), emphasized the significance of the agreement, “The backing of the Royal Office of H.H. Sheikh Ahmed Bin Faisal Al-Qassimi marks a defining moment for ACET ($ACT). This partnership solidifies our legitimacy, expands our global reach, and paves the way for real-world adoption of blockchain technology. With this strategic alliance, we are aligning ourselves with influential stakeholders who share our vision for decentralized finance and blockchain-powered economic solutions.”

The Royal Office of H.H. Sheikh Ahmed Bin Faisal Al-Qassimi has partnered with the world’s most successful luxury five-star resort and casino group to develop the first-ever casino resort in the Middle East. Located on Al Marjan Island in Ras Al Khaimah, this project, valued at over $3.9 billion, will become the UAE’s first legally sanctioned casino, surpassing investments in Las Vegas and setting new standards for luxury gaming and hospitality.

H.H. Sheikh Ahmed Bin Faisal Al-Qassimi is a key figure in the ruling families of Sharjah and Ras Al Khaimah, playing a pivotal role in shaping the UAE’s economic policies and business expansion. He actively fosters strategic partnerships between the UAE and international markets, with extensive experience in trade, real estate, energy, construction, finance, and technology.

As Chairman and senior executive in multiple global organizations, he co-founded the Al Qassimi Group of Companies and Investment Co., overseeing multi-sector business operations across manufacturing, tourism, hospitality, and financial services. He is a driving force in attracting international investment to the UAE, further solidifying the nation’s position as a leading global investment hub.

The battle in UAE escalates between Dohrnii Labs and Blynex crypto exchange

The battle in UAE escalates between Dohrnii Labs and Blynex crypto exchange

Dohrnii Labs, which seeks to empower financial education with blockchain and gamified learning and its utility token, DHN which it notes powers the Dohrnii ecosystem, primarily operating on the Ethereum blockchain has taken legal and police action again Blynex, an unregulated crypto exchange with a presence in the UAE.

According to Dohrnii Labs, the company filed a police report against Blynex while attempting to withdraw 4000 DHN tokens were blocked from doing so, and also noted that Blynex had liquidated 8,600 of their DHN collateral selling it for 148,160.64 USDT. The company claimed that this was done without authorization, and demanded the immediate release of the 4,000 DHN and the return of the full USDT amount generate from their collateral.

Two days later Dohrnii Labs noted on X that they will be making all future legal actions and police proceedings in the UAE against Blynex publicly available to ensure full transparency. The post noted, ” This is to warn all investors about the fraudulent activities associated with Blynex.”

In a statement on X, Dohrnii team explained that On March 23, 2025, the Dohrnii team deposited a total of 11,850 DHN, valued at approximately $550,000, to Blynex across five transactions. Of this amount, 8,650 DHN (worth around $360,000) were used as collateral for a 30-day loan in exchange for $80,000 USDT, with the goal of strengthening liquidity on Uniswap.

The Dohrnii team then attempted to transfer the $80,000 provided by Blynex. However, the USDT transaction has remained pending for several hours. During this time, Blynex unilaterally sold the 8,650 DHN collateral on Uniswap for 149,151 USDT, causing significant price impact and a sharp drop in the token’s market value.

The company added, “This sale occurred without prior consultation or approval and involved collateral that was intended to remain locked for the agreed loan period. The Dohrnii team is currently working to stabilize the token price and is in active discussions with Blynex to resolve the situation appropriately.”

Blynex’s rebuttal statement

In a lengthy medium post Blynex explained their side of the story stating that after reviewing the ongoing situation thoroughly and in response to Dohrnii Labs’ allegations, Blynex has not only acted within the bounds of the law but has consistently attempted to resolve this matter fairly and amicably. However, each time we’ve made an effort to reach a solution, Dohrnii Labs has responded by threatening to escalate the matter legally, without considering any reasonable settlement options.

As per Blynex, “Dohrnii Labs deposited 12,649.99 DHN tokens, not $595,000 worth of tokens as they’ve misleadingly claimed. At the time of the deposit, the price of DHN was around $47 per token, which means the total value of the deposit was closer to $595,000. However, only 8,650 DHN tokens were used as collateral for the loan. This means that, in reality, the collateral value was approximately $404,000. They then took a loan of 81,000 USDT, which was only 20% of the total collateral value, a standard and reasonable loan-to-value ratio. This loan was fully in line with both our platform’s policies and industry standards.”

The post goes on to note that their risk management system detected serious risks surrounding the loan. They added, “With the 8,650 DHN tokens being the collateral, the system monitored the token’s liquidity and market conditions in real-time. When it became clear that the DHN token was struggling with liquidity and market volatility, our system automatically liquidated the collateral to protect both our platform and our users.”

The liquidation resulted in 148,160 USDT, a figure we obtained through the real-time sale of the 8,650 DHN tokens, clarifying that they did not liquidate anything beyond the collateralized amount. “As a result, we can confirm that the 404k USDT worth tokens were actually only worth 148k USDT at the time of liquidation. To be precise, based on the real value of 148,000 USDT generated from the liquidation, the loan of 81,000 USDT was under-collateralized. At that point, our system rightly suspended any withdrawal requests for the 81,000 USDT until the balance of 54,000 USDT could be added to cover the full loan.”

Finally Blynex notes that they have tried to offer solutions to settle the matter including paying 81,000 USDT and allowing the withdrawal of the remaining 4,000 DHN tokens. However, every time they have attempted to find common ground, Dohrnii Labs has refused and instead responded with threats of legal escalation.

In conclusion this will be an interesting case to follow in the UAE given that both Blynex crypto exchange and Dohrnii Labs are not regulated entities yet preside within the UAE.

Chainlink supports UAE’s tokenization projects registered in ADGM

Chainlink supports UAE’s tokenization projects registered in ADGM

UAE ADGM, the leading International Financial Centre (IFC) of the UAE’s capital, has signed a Memorandum of Understanding (MoU) with Chainlink, the standard for onchain finance, to help advance tokenization frameworks by supporting innovative projects under ADGM’s Registration Authority. Leveraging Chainlink’s technical expertise, industry insights, and a suite of advanced services the entities will maximize the utility of tokenized assets while ensuring regulatory compliance.

Chainlink’s market-leading services, including blockchain interoperability and verifiable data solutions, are facilitating liquidity across global markets, enabling over $19 trillion in transaction value.

Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority said, “This strategic alliance is a significant step in further solidifying ADGM’s leadership in enabling blockchain innovation and enhancing alignment in the regulatory approach globally. By collaborating with Chainlink, we are aiming to set a global benchmark that spearheads transparency, security, and trust across the blockchain space.

Under the MoU, ADGM and Chainlink will foster a dialogue on regulatory matters in blockchain, AI, and other emerging technologies. The agreement also outlines a series of events and workshops aimed at educating the UAE ecosystem on key topics related to blockchain and AI, such as tokenization, cross-chain interoperability, proof of reserves, and emerging blockchain standards.

Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs and Senior Executive Officer at Chainlink Labs Abu Dhabi said, “ADGM has developed a robust environment where tokenisation projects can thrive. Our alliance will elevate the blockchain ecosystem in the UAE, driving greater innovation and adoption. We are excited to see projects under the purview of ADGM Registration Authority adopt the Chainlink standard, enabling seamless compliance, enhanced connectivity across markets, and highly secure on-chain services.

Chainlink has been active in the MENA region. In February 2025 Saudi based Oumla, a Layer 1 blockchain platform that allows applications to be built on any blockchain with ease, as well as offers a secure vault infrastructure for storing digital assets announced its partnership with Chainlink.

Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as top DeFi protocols including Aave, GMX, and Lido, use Chainlink to power next-generation applications for banking, asset management, and other major sectors.

In December 2024, Chainlink Labs, expanded its presence in the Middle East and North Africa (MENA) region, and set up an office and an entity in Abu Dhabi under the Registration Authority of ADGM.

Lebanon wont get USAID if its not on the blockchain

Lebanon wont get USAID if its not on the blockchain

As the United States President Donald Trump overhauls USAID with a new name as well as a proposed integration with Blockchain, Lebanon whose USAID funds were semi frozen might need to integrate Blockchain into its digitization strategy if it wants to be able to get USAID in the future.

President Donald Trump in a recent speech at the Digital Asset Summit in New York, plans to restructure USAID and rebrand it as U.S. International Humanitarian Assistant placing it under the Secretary of State’s authority.

This is in line with Elon Musk’s call to put the U.S. Treasury department on the blockchain as well, considering it would create efficiency and help to decrease costs in government. His view is that the transparency and immutability of the blockchain technology, which ensures all transactions are visible for everyone to see for the rest of time, would eradicate alleged fraud.

Blockchain to be incorporated into USAID


As per a memo circulating among State Department staff, Trump wants to integrate blockchain technology into USAID’s procurement system to enhance security, transparency, and traceability in aid distributions.


It would leverage a blockchain to trace aid distributions and enforce payment models based on outcomes rather than inputs. “All distributions would also be secured and traced via blockchain technology to radically increase security, transparency, and traceability,” the memo reportedly reads, adding that such an approach would encourage innovation and efficiency.


The President also reportedly wants cryptocurrency and blockchain technology to feature heavily in its operations. USAID has been under scrutiny from the Trump administration since the establishment of the Department of Government Efficiency (DOGE), led by Elon Musk.

Lebanese USAID grants semi frozen

The U.S. president froze USAID payments in a January 20th under an executive order. The freezing also effected Lebanon which in 2024 alone received a total of $219 million in assistance from USAID of those $17 million came from the U.S. State Department with military aid accounting for 4% of the total funding and with remaining funds primarily supported humanitarian relief ($91 million) and education ($71 million).


The news of the freeze has had a negative effect on NGOs and their employees in Lebanon even though it was temporarily lifted in February 2025.


There are two major issues that will challenge Lebanon’s ability to received USAID, the first is level of historic corruption in Lebanese government and even claims of corruption within the NGO community, as well as lack of transparency, while the second is the lack of a digital infrastructure that can integrate Blockchain, AI, and other technologies such as digital payments into the web of aid or investment funds to the country.
If USAID will utilize blockchain and crypto, it will need to add the entities that funds are provided with to the blockchain as nodes to be able to track where money has been spent and if it has been spent correctly leading to results.

New Lebanese Cabinet under Salam discusses digital transformation

The new Lebanese Cabinet, under Prime Minister Nawaf Salam is discussing digital transformation in the public sector, after enacting the first Ministry of AI in Lebanese government.
As per news reports, a committee will be formed to oversee coordination between Lebanese Ministries, even though the digitization theme has been in discussion for years. Several previous sessions addressed this issue, dating back to the government’s adoption of the Lebanon Digital Transformation Strategy 2020-2030.


Lebanon’s Prime Minister Nawaf Salam emphasized the government’s commitment to establishing a neutral, transparent, and efficient state administration as a cornerstone of governance. He stressed that “there is no state without an administration,” as it serves as the backbone of governance and a key tool for serving citizens.
He announced that the government formed a ministerial committee to study and modernize the public sector, along with another committee to examine digital transformation in public administration.


Lebanon still has one of the most outdated governmental services sector, where almost everything needs paperwork and in person visits.


Despite this, some ministries have taken independent steps to integrate technology into their services. In 2021, the Ministry of Labor launched an online platform for work permit applications for foreign nationals. The Interior Ministry introduced an electronic criminal record service, allowing citizens to request and receive documents through OMT centers across Lebanon. The Ministry of Justice has also advanced its digital services, enabling lawyers and citizens to create online accounts on the official judicial services platform for easier access to information and remote application submissions. Most recently, the Ministry of Economy introduced an online licensing system for market and exhibition organizers in Lebanon.


Yet all these are remnants of what other governments in the region and globally were doing in the early 2000s. Previous discussions on a CBDC launch and regulation of crypto have never seen the light.

Lebanese Ministry of Health dabbles with Blockchain


The only Ministry that has dabbled with Blockchain has been the Lebanese Ministry of Health which launched MediTrack back in December 2021. The first phase was used to track medicine for Cancer and chronic illness patients whose treatment is costly. Twenty hospitals from across Lebanon attended the training at Rafic Harriri International Hospital.

Minister Abyad in a statement at the time,” The MediTrack Solution will first be utilized for medicine related to high cost treatments such as cancer and other chronic diseases. It is essential in tracing the movement of medicine and will decrease the effects of the financial crisis that Lebanon is going through because it will stop the smuggling of medicine across the border as well as stop the storage and monopolization of these medicines ensuring it gets to the patient and only the patient.”


The Minister noted that this was carried with support of World Health Organization and European Union. In September of 2021, The Lebanese Ministry of Public Health signed a five year agreement with rfxcel, part of Antares Vision Group a solution provider in digital supply chain traceability solutions, to provide a Blockchain enabled GS1-compliant traceability hub to protect the entire pharmaceutical supply chain in the country. The Blockchain enabled solution will be implemented by rfxcel’s partner Medical Value Chain (MVC), the Bahrain subsidiary of US-based AVC Global. MVC

The Future of Lebanon will depend on Blockchain, AI, and datacenters


Future of Lebanon depends on receiving investments from around the globe and the region, and for this to happen, the Lebanese government has to show not only an appetite for reforms, but also a platform that brings transparency and trust. Once again Blockchain, AI, datacenters, become the only relevant solution to bureaucracy corruption and favoritism.


Smart contracts, public access to information on the blockchain, digital asset payments either in CBDCs or stablecoins will eliminate the waste, bureaucracy and corruption that has crippled the Lebanese state for decades, as well as restore trust and confidence in the political and governmental operation of the country.

Anything less than that will not be accepted as the United States and countries in the GCC and Arab world embrace blockchain, AI, digital assets, and the future.

UAE based Hoxton Wealth adds multiple crypto account feature

UAE based Hoxton Wealth adds multiple crypto account feature

UAE based financial advisory firm Hoxton Wealth has introduced new features to its Hoxton Wealth App, including multiple crypto accounts where users can organize their crypto holdings into separate accounts, enhancing visibility and streamlined management.

Additionally the new features will expand account linking supporting linking additional asset types, including crypto accounts, personal loans, vehicle loans, and mortgages, with automated updates for seamless financial tracking.

Users can also auto deduct for loans, set at set automatic monthly deductions, making it easier to track outstanding balances and manage repayments.

Currently, the Hoxton Wealth App tracks over £115 million in assets and liabilities through its open banking integrations.

The Hoxton Wealth App provides easy access to a consolidated view of users’ entire net worth on mobile or desktop—regardless of whether they are Hoxton clients.

Leveraging open banking technology, the app aggregates financial data from over 20,000 global sources, including bank accounts, brokerage accounts, crypto exchanges, pensions, and cash accounts.

Users can also track static assets like real estate and monitor investments in stocks, shares, and cryptocurrencies. Financial liabilities, including credit cards and mortgages, are seamlessly integrated for a holistic wealth overview. The platform is available on both web and mobile.

Oman Ministry of Commerce reports on Blockchain pilot to track movement of goods

Oman Ministry of Commerce reports on Blockchain pilot to track movement of goods

In a report published by the Ministry of Commerce, Industry and Investment Promotion (MoCIIP), and put together by Oxford Business Group (OBG) the government highlights high-growth opportunities in key sectors, including transport and logistics and Blockchain pilot for tracking movement of goods.

As per the report, the logistics sector in Oman aims to contribute $36.4 billion to the national economy by 2040 positioning it as the second highest economic contributor after hydrocarbons. The sector in 2023 contributed

Growth targets:

  • The logistics sector aims to contribute OR14bn ($36.4bn) to the
    national economy by 2040, which would position it as the secondhighest economic contributor after hydrocarbons
  • As of 2023 the sector contributed approximately 7% to GDP
  • Seeking to create up to 300,000 new logistics jobs by 2040
  • Sector currently provides over 79,000 jobs
  • Investment growth projected for green supply chains, lastmile delivery and contactless delivery solutions

Beyond decarbonisation, the wider transportation sector is also being primed for investment, according to the report. These investment opportunities are linked to recently unveiled plans to, for example, transform creeks into marinas and business centres, develop mining jetties for the export of gypsum and limestone, support ship repair and scrapping activities, catalyse the growth of multipurpose ports, re-export and repackaging hubs, and e-commerce fulfilment centres, as well as foster the development of airport free zones and new dry ports.

In the logistics sector, investment growth is projected in green supply chains, last-mile delivery and contactless delivery solutions. Also prospective for investment are opportunities linked to the expansion of regional aviation connections and partnerships in Africa and China, while strengthening ties with European and South-east Asian markets.

Eng Khamis bin Mohammed al Shammakhi, Under-Secretary of the Ministry of Transport, Communications and Information Technology for Transport, was quoted in the report as saying that Oman is piloting blockchain technology to track the movement of goods within economic zones. He noted, “Oman is implementing innovative measures to strengthen its logistics infrastructure. The country is piloting blockchain technology to track the movement of goods within economic zones, significantly improving lead times. The Royal Oman Police’s Customs clearance system mandates that goods must be cleared within two hours, a measure intended to boost efficiency. Additionally, a port community system has been introduced to streamline procedures, reducing the time required for operations from two days to two hours – as well as minimizing fees. These advancements help to enhance the appeal of Oman’s logistics sector to foreign investors.”

Additionally, Oman is improving last-mile logistics by introducing supportive technologies and stronger regulations. “Efforts include new regulations that require operators to register through a central platform in a move to ensure compliance and streamline inspections. The entry of investors like technology firm Yandex – which will provide an application that combines taxi services with last-mile delivery – showcases Oman’s commitment to modernizing this segment. These steps aim to make the logistics chain more efficient and attractive to investors by ensuring delivery solutions that are both reliable and scalable,” Al Shammakhi added.

In 2024 Advanced Horizon Markets s.r.o, which is developing a Blockchain and AI enabled GlobalTrade project, set up its headquarters in Oman after an investment firm acquired 80% of its shares during its seed phase, valuing the project at 1.1 million Euros.

The platform is designed to offer robust business verification, smart contracts, integrated quality control, comprehensive shipping solutions, and real-time tracking, all powered by advanced technologies such as blockchain and AI.