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Abu Dhabi ADI Blockchain to operate AED stablecoin for FAB Bank and ADQ

Abu Dhabi ADI Blockchain to operate AED stablecoin for FAB Bank and ADQ

The stablecoin race has started among the banking sector in the UAE, and the first AED stablecoin to be developed by an Abu Dhabi Blockchain is in the process. ADI Blockchain Foundation will be developing an AED stablecoin to be issued by First Abu Dhabi Bank, with the support of ADQ a sovereign investor and IHC an investor as well.

The trio intend to launch a UAE Central Bank regulated AED stablecoin that will be used for making payments not only in the UAE but also internationally. Moreover the stablecoin will also be used for Machine to machine payments in the IoT domain and AI one.

Abu Dhabi based ADI Blockchain will operate the stablecoin

The ADI Foundation a non-profit organization dedicated to helping governments connect with trusted partners to advance digital transformation and blockchain adoption worldwide, leverages its $120 million fund and a global network of partners to deliver blockchain solutions that enhance trust, transparency, and efficiency in key sectors such as healthcare, financial systems, sustainability, and governance.

The new stablecoin will operate on the ADI blockchain. Guillaume de La Tour, CEO of ADI Foundation, commented: “This stablecoin marks a pivotal milestone in the UAE’s journey toward a more inclusive and digitally empowered economy. By leveraging the ADI blockchain, we are enabling secure, transparent, and efficient transactions at scale — built on technology developed right here in the UAE. The ADI Foundation is proud to support this visionary initiative that aligns with our mission to advance sustainable digital transformation around the world.”‍

‍H.E. Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ, said, “The launch of stablecoin marks a pivotal step in our commitment to strengthening the UAE’s digital infrastructure ecosystem. As we move forward towards an increasingly digital and connected economy, stablecoin will provide a solution that is secure, efficient and scalable, while creating new opportunities for growth and value creation.”‍

Syed Basar Shueb, CEO of IHC, added that IHC will bring their blockchain and fintech expertise. While Hana Al Rostamani, Group Chief Executive Officer of FAB, affirmed that the new stablecoin will make a significant impact across industries and revolutionize blockchain payments for UAE consumers and businesses.

This will not be the first regulated AED stablecoin issued by a banking entity. Mbank through its subsidiary AE Coin has already launched a regulated AED stablecoin.

Additionally in August 2024, Tether, announced in the UAE its plans to add a new Dirham backed stablecoin in collaboration with UAE’s Phoenix Group, a Web3 investor and Bitcoin mining conglomerate.

Microsoft and Du to build $544.5 million data center in UAE

Microsoft and Du to build $544.5 million data center in UAE

The Emirates Integrated Telecommunications Company PJSC (du) will be investing in a $544.54 million hyperscale data center deal with Microsoft who will be its main tenant.

The hyperscale datacenter capacity will be delivered in tranches, du said in a statement. Hyperscale centers are large facilities that are mainly used to provide data storage and cloud computing services to businesses at scale.

The deal, made during Dubai AI Week, “represents a pivotal leap in our strategic goal to revolutionize the digital ecosystem of the UAE”, Fahad Al Hassawi, CEO of du, said.

Currently, du operates five data centers across the United Arab Emirates, which has been heavily investing to become a global hub for AI outside of the US.

Almost 150 MW of additional power capacity is expected to be added by the end of 2025. The existing data center capacity in UAE is over 250 MW, while the upcoming capacity in the region is expected to be around 500 MW. Around $1.5 billion in new investments is expected to flow into upcoming data centers in UAE by 2027.

The datacenters will be used to host AI computing power, digital assets, Blockchain solutions, IOT, and other technology solutions. Beyond the UAE, the The MENA data center market is experiencing rapid growth, with 4.5 GW of additional capacity expected by 2027, driven by a $12 billion investment surge. Saudi Arabia dominates the market, accounting for 50% of upcoming power capacity.

UAE Fuze and Hex Trust partner for crypto custodian offerings to financial sector

UAE Fuze and Hex Trust partner for crypto custodian offerings to financial sector

UAE based Fuze, a digital assets infrastructure provider has partnered with crypto custodian Hex Trust, regulated in the UAE, to deliver institutional-grade digital asset custody across the Middle East.

As per the LinkedIn post both Fuze and Hex Trust want to build secure compliant and scalable infrastructure that empowers financial institutions, banks and enterprises. The partnership will combine Hex Trust’s global leadership in digital asset custody with Fuze’s deep integration across the local banking and fintech ecosystem.

Mo Ali Yusuf, CEO of Fuze noted on LinkedIn, ” I am proud to announce our partnership with Hex Trust! Filippo Buzzi and I have built a strong working relationship over the past year, grounded in a shared vision for a regulated, secure, and scalable digital asset ecosystem. This partnership brings together two fully regulated entities under the VARA framework, combining Hex Trust’s global leadership in digital assets with Fuze’s deep integration across the MEA banking and fintech landscape. Together, we are building the trusted foundations for the next era of regulated digital assets and compliant innovation in the region.”

Recently Fuze, through its subsidiary Niobe Payment Services was licensed to offer digital assets payments by the Central Bank of the UAE. The company now holds a Retail Payment Services and Card Schemes (RPSCS) license. Niobe Payment Services LLC SPC, is now both a fully licensed operator for digital assets infrastructure and, through its payments infrastructure division, a regulated payment services provider for the region.

Digital asset startups in Hub71 raise $100 million in 2024

Digital asset startups in Hub71 raise $100 million in 2024

Hub71, Abu Dhabi’s global tech ecosystem, in its 2024 Impact Report, noted that startups in the Digital Assets program raised more than $100 million. As per the report in 2024 Hub71 startups recorded $2.17 billion (AED 8.02 billion) in funding; a 44.7% year-on-year increase from $1.5 billion (AED 5.4 billion) in 2023, demonstrating strong investor confidence in Abu Dhabi’s innovation economy. Revenue generated by startups also climbed to $1.2 billion (AED 4.5 billion), up from $1 billion (AED 3.5 billion) the previous year, reflecting sustained commercial traction across priority sectors.

Much of this rapid growth was fueled by Hub71, which is driving sector-wide transformation through its specialist ecosystems. Hub71+ Digital Assets, Hub71+ ClimateTech, and the newly launched Hub71+ AI are attracting startups that are developing impactful solutions to some of the world’s most pressing challenges. Startups in the Digital Assets program alone have raised more than $100 million, while partnerships with global tech leaders like Google, NVIDIA, Solana, Hashed and AWS are accelerating innovation across Web3, AI, renewable energy, and deep tech.

During the year, Hub71 received over 3,100 applications from entrepreneurs representing more than 20 countries, highlighting the growing global appetite to build from the UAE capital. Of the 46 startups selected, approximately over 70% came from international markets, with more than half in the Seed or Series A stages. Startups from the US, UK and Germany, made up nearly 63% of Cohort 16, cementing the city’s reputation as a gateway between established tech hubs and high-growth emerging markets.

Ahmad Ali Alwan, Chief Executive Officer of Hub71, said, “Hub71 began as an ambitious idea to enable founders to build from Abu Dhabi. That idea has since grown into a thriving community of entrepreneurs, investors, and partners working together to drive lasting impact. The progress captured in this report reflects the strength of our ecosystem and the trust placed in us by those who believe in Abu Dhabi’s long-term potential. As we look ahead, our focus remains on empowering founders and positioning Abu Dhabi as a global hub for technology and innovation.”

Hub71’s momentum mirrors Abu Dhabi’s growing status on the global startup map. According to the 2024 Global Startup Ecosystem Report, the emirate is the fastest-growing emerging startup ecosystem in MENA, with its ecosystem value rising 28% to $4.2 billion between mid-2021 and end-2023. StartupBlink’s 2024 rankings placed Abu Dhabi 6th regionally and 2nd in the UAE, reinforcing its rising global profile.

Capital access remains a central pillar of Hub71’s strategy. In 2024, capital partners deployed $65 million (AED 238 million) into its startup community. The global tech ecosystem welcomed new investors, including Princeville Capital, The Catalyst, and Golden Gate Ventures.

Meanwhile, Tech Barza, Hub71’s exclusive capital club for family offices, recorded its first startup deal and a 10% increase in membership. To unlock early-stage capital, Hub71 launched the Angel Investor Support Package empowering five new angel networks, including Falcon Valley and Qora71, to facilitate more early-stage ticket investments, thereby accelerating the growth and scalability of startups within the Abu Dhabi ecosystem.

Unlocking market access through strategic partnerships

Beyond funding, strategic partnerships remain a key pillar of Hub71’s value proposition, playing a critical role in helping startups gain traction. In 2024, startups signed 91 corporate deals with government and private sector partners worth $28 million (AED 103 million), accelerating their ability to scale and commercialize their solutions.

Programs like the Regulatory Sandbox, co-developed with the Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi Mobility, and the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), enabled startups to pilot cutting-edge technologies in sectors such as smart mobility, digital health, food innovation, and alternative proteins.

Startup successes: Scaling impact from Abu Dhabi

In a year marked by an evolving funding environment, Hub71 startups captured investor attention with landmark raises that signal both global relevance and real-world impact. FinTech startup FlapKap, raised $34 million (AED 124.7 million) in pre-Series A funding to expand its AI-driven lending solutions across the GCC. ClimateTech pioneer 44.01 secured $37 million (AED 135.7 million) in Series A funding to scale its CO₂ mineralization technology that transforms captured emissions into rock, contributing to global decarbonization. Meanwhile, HealthTech innovator BioSapien closed a $5.5 million (AED 20 million) pre-Series A round to accelerate clinical trials of its MediChip™, a 3D-printed implant that delivers localized cancer treatment with minimal side effects.

Today, Hub71 is home to a vibrant community of founders building high-impact startups that address global challenges and unlock new markets; driven by access to capital, expert support and sector-specific expertise to attract top talent and fuel Abu Dhabi’s innovation agenda.

About Hub71:

Hub71 is Abu Dhabi’s global tech ecosystem that enables founders to build globally enduring homegrown tech companies in any sector by providing access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent, governed by forward-thinking regulation.

Binance launches Blockchain Week in Dubai in December 2025

Binance launches Blockchain Week in Dubai in December 2025

Binance global crypto exchange announced the return of its premier global event, Binance Blockchain Week, taking place for the second consecutive year in Dubai on December 3-4 2025 at the Coca Cola Arena.

Binance which holds 1,500 global events per year has made the Dubai Binance Blockchain Week a gathering that connects industry leaders, builders, regulator, investors and Web3 pioneers with conversations that drive the future of the crypto and blockchain industry.

Following last year’s successful edition, which attracted 5,000+ attendees from 126 countries, this year’s event is set to raise the bar even further. The 2024 event was spotlighted in a two-part Amazon Prime documentary, “Building The Future: Inside Binance Blockchain Week”, which offered an inside look at the scale and impact of Binance’s flagship Web3 conference.

In 2025, Binance Blockchain Week will continue to bring together key voices and stakeholders from across the digital economy, including founders, innovators, policymakers, venture capitalists, and global enterprises shaping the decentralized future.

Binance is a regulated crypto exchange in the UAE and Bahrain and it recently received $2 billion investments from MGX in UAE.

Global Crypto Custodian Bitgo now licensed in UAE

Global Crypto Custodian Bitgo now licensed in UAE

BitGo, a global crypto custodian and crypto staking provider has received a license in the UAE through its Dubai subsidiary, BitGo Custody MENA FZE. BitGo obtained the license from Dubai’s Virtual Assets Regulatory Authority. The Virtual Assets Service Provider (VASP) operating license will allow BitGo to offer Virtual Asset Custody Services and Staking. This approval follows BitGo’s receipt of the in-principle approval (IPA) in January 2025.

BitGo Custody MENA FZE will now be offering secure and efficient cold storage custody services to Institutional and Qualified Investors in the UAE.

Ben Choy, General Manager of BitGo Custody MENA FZE, said, “At BitGo, we provide the most secure and scalable solutions for the digital asset economy. A large part of this effort is ensuring we adhere to the highest regulatory standards. Receiving authorization from VARA reinforces our role as a trusted partner for institutional investors and allows us to provide our award winning services from Dubai.”

Bitgo recently secured its position as the world’s largest staking platform by total locked value with $48 billion in assets staked.

UAE OKX crypto exchange launches $1.3 million reward campaign

UAE OKX crypto exchange launches $1.3 million reward campaign

OKX, the global crypto platform regulated in the UAE, has launched one of the biggest crypto trading campaigns that the UAE has ever seen. The total reward pool is 5 million AED equivalent to $1.36 million dollars.

As per the campaign all users have to do is sign up, link their UAE Bank account and trade. Individual prize awards will reach up to 50,000 AED equivalent to $13,600, while new users will also receive AED 250 on their first deposit of AED 250, and AED 500 on completing their first trade of AED 500.

There are also daily rewards of up to 100 USDT for every 1,000 USDT traded.

This is not the first campaign to be launched this year in UAE by either crypto exchanges or even crypto savvy digital banks such as Liv Bank which recently also launched its crypto campaign, however this is one of the biggest pool rewards.

As the scene in the UAE becomes more competitive with many licensed crypto exchanges competing for clients, and with the entrance of banks into the crypto scene, more campaigns, services and offerings will be on the table.

stc Bahrain collaborates with a new blockchain network, Conflux

stc Bahrain collaborates with a new blockchain network, Conflux

Conflux Network, a Layer 1 Blockchain network and stc Bahrain, a telecom operator anddigital enabler in the Middle East have collaborated in stc Bahrain’s Web3 Launchpad Program, specifically within the Pearling Path initiative, which aims to support emerging Web3 protocols as they expand in the Middle East.

Through this collaboration, stc Bahrain joins Conflux as a validator on the Conflux Network which will reinforce the security and efficiency of its consensus mechanism.

“This partnership with Conflux Network represents another step forward in our mission to position Bahrain as a hub for emerging technologies,” said Saad Odeh, Chief Wholesale Officer at stc Bahrain. “By operating a validator and supporting Conflux’s advanced blockchain infrastructure, we are empowering developers and enterprises to build transformative solutions, aligning with Bahrain’s Vision 2030.”

“We are thrilled to partner with stc Bahrain as a Pearling Path Partner under the Web3 Launchpad Program,” said Christian Oertel, Global Expansion Lead at Conflux Network. “Bahrain’s strategic location as a gateway between the Middle East and Asia creates a unique opportunity to drive blockchain innovation and connect decentralized economies across these regions. Together with stc Bahrain, we aim to build a secure and scalable foundation for decentralized applications.”

stc Bahrain has partnered with several blockchain networks over the past few years. Earlier this year decentralized privacy-focused network Nillion partnered with stc Bahrain as well as with Nirvana Labs.

W Chain partners with NeurochainAI for payments

W Chain partners with NeurochainAI for payments

W Chain, a hybrid blockchain platform for global payments, has partnered with NeurochainAI, for decentralized AI development. The partnership will leverage the combined strength of both companies to transform the global payment system by deploying amalgamation of AI and blockchain technologies. NeurochainAI is backed by Google’s startup program.

By adding AI to W Chain’s system, they plan to provide smart analysis to prevent frauds, create custom payment experiences for users, and adjust fees in real-time for businesses. W Chain’s hybrid blockchain setup is built to handle high-volume apps and can process up to 10,000 transactions per second (TPS). W Chain works with various digital assets and payment solutions making it beneficial for multiple industries. Simultaneously, NeurochainAI brings its know-how to decentralized AI systems offering tools to create, deploy, and roll out AI models.

Commenting on the development Sathya Prakash, Head of Commercials of W Chain, said “This partnership with NeurochainAI is a big step in our goal to transform global payments through tech. By joining our hybrid blockchain setup with NeurochainAI’s cutting-edge AI tools, we’re set to offer smarter and safer payment systems that keep up with what businesses and customers need today.”

Commenting on the partnership Gabriele Jas, Marketing Manager at NeurochainAI “Our work with W Chain fits right in with our aim to push forward open and fair AI growth. Working together, we’ll give businesses tools to make payments easier while setting new standards for how well and global payments can work.”

The partnership shows W Chain and NeurochainAI share a goal to weave AI deep into W Chain’s system. Both organizations aspire to build smart payment tools that use data predictions to spot fraud before it happens. They also plan to offer custom experiences based on what each user likes.

Ruya, UAE’s first digital Islamic Bank offers crypto trading services

Ruya, UAE’s first digital Islamic Bank offers crypto trading services

UAE based ruya (رويا), the country’s first digital-first Islamic bank has partnered with UAE Fuze a digital asset infrastructure provider to offer its customers crypto services including crypto buying and selling. Users will be able to purchase cryptos such as Bitcoin on Ruya’s mobile application.

As per the announcement this service is part of ruya’s broader investment offering, designed to promote ethical Islamic wealth building and long-term financial growth. Both Fuze and Ruya note that the service is secure, user friendly and aligned with ethical Islamic financial principles.

“At ruya, we are committed to transforming the financial landscape in the UAE by offering forward-thinking services while staying true to our mission of ethical Islamic banking. By integrating virtual assets into our investment platform, we aim to empower our customers to participate in the digital economy in a sustainable and responsible way. We can also assure our customers that the virtual assets we are offering on our ruya investment platform are Shari’ah-compliant, providing much-needed certainty,” said Christoph Koster, CEO of ruya.

Mohammed Ali Yusuf (Mo Ali Yusuf), Co-Founder and CEO of Fuze, shared: “Partnering with ruya is a big step towards making virtual assets a seamless part of everyday banking. Together, we’re combining Fuze’s cutting-edge infrastructure with ruya’s commitment to ethical Islamic banking. We are excited to be at the forefront of providing simple, secure, and ethical digital asset solutions for the future.”

Unlike platforms that encourage speculative trading, ruya’s virtual assets service is part of a carefully curated investment framework, fostering long-term wealth building.

Christoph Koster added, “By partnering with Fuze, we’ve ensured that our customers will benefit from a robust and trusted platform to access the opportunities in the virtual asset space. This service reflects our promise to innovate while maintaining the highest standards of ethical Islamic banking.”

Ruya is not the first bank to offer crypto buy and sell services. A month ago Liv Digital Bank part of Emirates NBD also opened up crypto trading, buying and custody service for clients.