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OneDegree launches digital asset insurance in UAE

OneDegree launches digital asset insurance in UAE

OneDegree, Asia’s licensed insurer for digital assets and Dubai Insurance Company have announced the issuance of digital assets custodial risk insurance to their customers in UAE. The Central Bank of UAE approved issuance of the digital asset insurance offering.

OneDegree and Dubai Insurance partnered in 2023. Custodial risk insurance completes the product portfolio and allows the partners to offer a one-stop-shop for digital asset companies in the UAE, under the brand “OneInfinity”.

VARA, Dubai’s dedicated regulator for digital assets, requires such coverage along with professional indemnity and directors & officers insurance. With this latest approval, specialized custodial risk insurance can be offered directly in UAE for the first time. Custodial risk insurance protects companies against the risk of losing access to digital assets including through third party hacks and theft, internal fraud and physical damage to the storage media.

Robin Scott, General Manager of Middle East for OneDegree, said, “UAE has only strengthened its position as a digital asset hub since our market entry last year. There are hundreds of companies setting up across the Emirates and looking to obtain key licenses. For this they need strong, tailored insurance policies. It’s fantastic that we are now able to offer the full suite of OneInfinity digital asset products to these inspiring companies.”

Abdellatif Abuqurah, CEO of Dubai Insurance, added, “We are thrilled to work with OneDegree on this important development in the UAE. Dubai Insurance is committed to bringing the most innovative insurance products to the UAE. Custodial risk insurance is something brand new to the market but that satisfies an urgent demand as UAE cements its position as a global leader in digital assets.”

OneInfinity by OneDegree offers tech-enabled digital asset insurance and risk management solutions globally. By offering tailor-made insurance to end-to-end digital asset players (including trading platforms, custodians, asset managers, banks, family offices and technology providers).

In addition, OneDegree, recently partnered with Saudi Arabia’s Walaa Cooperative Insurance Company, an insurance and reinsurance company where Walaa will support OneDegree as a reinsurer for its market-leading digital asset products globally. The partnership was announced during 24 Fintech event in Riyadh KSA.

Holon a decentralized green storage provider signs agreement with Arclive

Holon a decentralized green storage provider signs agreement with Arclive

Holon Global Investments Limited (Holon), a technology company aimed at creating a greener Web3 ecosystem, has signed partnership agreement with ArcLive Limited to deliver a solution to enhance energy performance and sustainable data management for both domestic and commercial premises.

Launching this strategic and promising collaboration, Holon and ArcLive signed a Memorandum of Understanding (MoU) on the first day of the Dubai AI & Web3 Festival. Holon’s Managing Director Heath Behcncke and ArcLive’s Co-founder Nicholas Edwards were present to sign the agreement.

Holon, is a green, verifiable distributed data storage and computing company that operates energy-efficient, immersion-cooled edge data centers powered by renewable energy sources utilizing blockchain technology, Holon provides robust governance over the data stored in its systems, ensuring security and sustainability.

ArcLive specializes in the collection, storage, collation, analysis, and presentation of real-time data from various premises and buildings. By leveraging sensors and other hardware, ArcLive collects performance data to help customers analyze and improve the energy efficiency of their buildings.

This joint solution enables regulatory compliance with sustainable finance objectives and helps property owners and their lending banks achieve their decarbonization targets, all while being powered by green energy.

In addition Holon also entered into a partnership with Magma ,a platform that integrates 3D modeling with blockchain technology to enhance collaboration in real estate by exploring opportunities in decentralized data storage, tokenization of real estate assets, and the integration of blockchain technologies.

Holon and Magma aim to develop new solutions that enhance data privacy, ownership, and energy efficiency in building management. By combining their expertise, both companies will focus on creating secure, sustainable, and efficient data management options for residential and commercial properties.

Holon Global Investments Limited (Holon) officially appointed Michael Clark as its Global Holon Evangelist at the highly anticipated Dubai AI & Web3 Festival.

Michael, a renowned data scholar and industry advisor, will work closely with Heath Behncke, Holon’s Managing Director, to advance Holon’s pioneering roadmap for data custodianship, decentralized sustainable storage, and tokenization.

These partnership agreements comes weeks after Holon announced its presence with an office in the UAE.

ByBit crypto exchange receives VASP license in UAE

ByBit crypto exchange receives VASP license in UAE

The UAE Virtual Regulatory Authority website has just listed ByBit crypto exchange, the second largest crypto exchange globally, as a licensed VASP ( Virtual Asset Service Provider), pending final authorizations and requirements. Once the license is fully received Bybit will offer crypto exchange services institutional Investors, Qualified Investors and Retail Investors.

“Dubai’s strategic location, progressive policies, and innovation-driven environment offer unparalleled opportunities for businesses and investors in the cryptocurrency sector,” said Helen Liu, Chief Operating Officer of Bybit. “With its robust regulatory framework and commitment to becoming a blockchain capital, Dubai is the ideal place to advance digital currencies and foster growth in this exciting industry.”

In June 2023, Bybit received its minimum viable product license from VARA.

During this time, the crypto exchange partnered with UAE’s DMCC freezone to offer financial support totaling $136,000 for new crypto businesses looking to set up in the DMCC crypto center. Bybit’s pledge of financial support in the amount of $136,000 will be used to kickstart the growth journeys of 15 new Web3 companies at the DMCC Crypto Centre. It also held its Hackathon at DMCC.

Bybit also supported crypto and blockchain ecosystem in the UAE with the University of Sharjah. Bybit contributed $272.000 equivalent to 1 million AED to establish a scholarship fund to support 20 students to accelerate their academic and research career into fintech and blockchain at the American University of Sharjah.

In March 2023 Bybit was one of the global crypto exchanges to have received preliminary approval from VARA.

So far Dubai’s VARA has licensed Binance and Deribit as crypto exchanges with derivative services, while offering crypto exchange service licenses to OKx, Crypto.com, BackPack and Toko.

Updated September 16th with quote from ByBit.

Brevan Howard is first crypto custodian client of Standard Chartered out of DIFC

Brevan Howard is first crypto custodian client of Standard Chartered out of DIFC

Brevan Howard is the first client for Standard Chartered regulated crypto custody service out of DIFC. DIFC ( Dubai International Financial center) regulator DFSA ( Dubai Financial has granted a license to Standard Chartered for its digital asset custody service in the UAE. In May 2024, Standard Chartered has announced that it had signed a memorandum of understanding (MoU) with Dubai International Financial Centre (DIFC) to collaborate on digital assets, including digital asset custody through its Zodia Custody entity.

The now licensed service will allow clients to safekeep their Ethereum and Bitcoin cryptocurrencies as a start. Brevan Howard Digital, the dedicated crypto and digital asset division of Brevan Howard, is confirmed as the inaugural client for the product.

Bill Winters, Group Chief Executive of Standard Chartered Bank said, “The launch of our digital asset custody offering represents a pivotal moment not just for Standard Chartered, but for the financial services industry. We firmly believe that digital assets are not merely a passing trend, but a fundamental shift in the fabric of finance.”

Margaret Harwood-Jones, Global Head of Financing & Securities Services added, “After a period of intensive work and close collaboration with regulators both regionally and globally, we are thrilled to welcome Brevan Howard Digital as the first client of our digital asset custody offering. This announcement demonstrates the growing institutional interest in digital assets and the critical need for secure, regulated custody solutions. Our offering goes beyond simple wallet services – it is a comprehensive solution that addresses the unique challenges of digital asset custody from a regulatory, risk and prudential point of view. It is a game changer for institutional clients, as we can support them with our traditional expertise to navigate the complexities of the digital asset space, without compromising on the highest standards of security.”

Gautam Sharma, Chief Executive Officer of Brevan Howard Digital commented, “This is a significant win for the UAE and the wider digital asset industry. Standard Chartered’s global reputation and demonstrated commitment to this space adds a layer of credibility that is meaningful for institutional adoption. The development of the institutional infrastructure within the asset class and region supports our established business within the ADGM in its continued expansion and our ongoing efforts toward improving and reinforcing standards in the digital asset ecosystem.” 

The Bank plans to broaden its scope in the coming months to encompass a wider range of digital assets, and is actively exploring opportunities to extend its custody services to other key financial hubs in its footprint markets.

After selection by Abu Dhabi Hub71, XBTO receives in principle approval from ADGM

After selection by Abu Dhabi Hub71, XBTO receives in principle approval from ADGM

XBTO, a global institutional digital assets company, have received In-Principle Approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate in the UAE, after being selected by Hub71 Digital assets lab.

Philippe Bekhazi, Founder & CEO, XBTO said, “Receiving an In Principle Approval is a significant step forward for XBTO in establishing a strong presence in the rapidly growing Gulf region. We believe the UAE has the potential to become the global hub for digital asset businesses worldwide, so it is important that XBTO as one of the world’s leading digital assets companies has a foothold here. I’m excited to see this area of the business develop in the coming months and years.”

The IPA marks a significant milestone in XBTO’s journey and commitment towards becoming a regulated digital assets business in the different jurisdiction they are presently in, having been regulated by the Bermuda Monetary Authority (BMA) since 2019 and currently applying for licenses in the UK and France.

A major reason XBTO has chosen ADGM as a base for its expansion is that the FSRA is one of the first regulators globally to introduce and implement a comprehensive and bespoke regulatory framework for the regulation of exchanges, custodians, brokers, and other intermediaries engaged in virtual asset activities and ADGM being the fastest growing financial centre in the region, with a 211% increase in assets under management (AUM) in Q1 2024 compared to Q1 2023.

In addition, with notable financial institutions launching in Abu Dhabi last year, Abu Dhabi is rapidly attracting its target segment of clients including family offices, traditional and crypto native macro hedge funds, high net worth individuals, blockchain protocols, VC funds, brokerages and more.

Karl Naïm, Global Head of Business Development & General Manager XBTO Middle East added, “This is an exciting time for digital assets, the UAE and surrounding countries. There is strong interest in the growth of the sector here. XBTO is working with organizations across the region and we look forward to working hand in hand with the regulator, decision makers and institutions to help build a thriving and leading digital assets ecosystem from Abu Dhabi.”

XBTO will continue to have its main company headquarters in Bermuda, and European offices in Paris and London, while leveraging Abu Dhabi as a base to better locally serve the Middle East. In line with XBTO’s long term commitment to the UAE and regulatory frameworks, and subject to the regulatory approval for the grant of the FSP, the company plans on making further investments to invest in their presence in the UAE.

UK Blockchain Sports Ecosystem and Saudi investment company

UK Blockchain Sports Ecosystem and Saudi investment company

UK tech company, Blockchain Sports Ecosystem, signed a Memorandum of Understanding (MoU) with Saudi Arabian Alpha Jossor Investments to explore the development of one of the MENA’s biggest innovative sports complex using advanced hi-tech solutions and attraction of direct investments into the sports and entertainment industries, with a cumulative value of $3.3 billion. The top football stars Kevin Kuranyi, Jay-Jay Okocha, Mikael Silvestre, and Jens Lehmann were present at the signing ceremony in Riyadh, KSA, to endorse the strategic partnership.

The complex in Saudi Arabia will include an advanced football academy featuring the latest integrated training solutions, along with real estate development aligned with the concept of a smart sports city. The creation of new real estate facilities will contribute to the development of tourism and the attractiveness of foreign investment in the region in preparation for global sports events. The representatives of Blockchain Sports Ecosystem across three continents, along with the private sector representatives, will participate in implementing this massive project.

“I believe the partnership marks a significant milestone and is beneficial for the whole MENA region. The Middle East has proved its ability to bring innovative projects of enormous scale to life. With the advanced technologies Blockchain Sports Ecosystem has developed, the upcoming project will set a new standard for the global sports community. We hope our mutual efforts will make the region prominent in the world’s sports arena”, – Dmitry Saksonov, Founder of Blockchain Sports Ecosystem.

Alpha Jossor Investments has expressed its readiness to invest in the private sector and actively contribute to implementing the plan at all the subsequent stages.

The MoU also involves the real estate aspect. It includes the launch of a digital real estate platform facilitating buying, selling, and management of properties within the digital domain. It will include additional private developments around the football academy, with investments estimated at $1.6 billion, including 1,500 villas and approximately 3,330 apartments, which will be built under the smart city concept to promote sustainable and eco-friendly urban living.

“Alpha Jossor Investments is dedicated to bridging global expertise and local private investor landscape through high-impact investments. Our partnership with Blockchain Sports Ecosystem is a strong step towards creating an innovative sports hub in Saudi Arabia, aligning with our vision for sustainable growth,” – Faisal Janahi, CEO of Alpha Jossor Investments.

With a team of 1200+ tech and sports experts and offices in 8 countries across 3 continents, Blockchain Sports Ecosystem is the first international ecosystem building the future of sports by combining the advanced performance tracking, AI, XR, and blockchain technologies. The Blockchain Sports Football project is part of the ecosystem.

Over 50 football top players have endorsed Blockchain Sports Ecosystem activities. The renowned players Romario, Zico, Edmilson, Marco Materazzi, Ze Roberto, and Kevin Kuranyi are among the company’s ambassadors. Additionally, Wesley Sneijder, David Trezeguet, Essam El Hadary, William Gallas, Diego Lugano, Maicon, and many others are partners of the Blockchain Sports Ecosystem. The project will leverage their vast football experience and status to create the sports cluster of the highest international level. On the top of that, the Photochain project was developed to capture video memories of the football stars telling about their professional journeys. The interviews will help to gain insights and serve as the foundation for the design of the upcoming cutting-edge sports facility in Saudi Arabia.

An important part of the MoU is the digital ID Platform that will be created for athlete identities, allowing secure and transparent transactions within the sports industry. The partner academies from over 16 countries around the world will be connected to the platform to collect analytics and identify the best football players who will be given a chance to study at a high-quality academy in Saudi Arabia. The platform will be the first solution for storing data on athletes and will launch the global process of scouting players across the world. The integration solutions using blockchain technology will optimize the processes and data storage security.

UAE’s virtual asset regulators VARA and SCA cooperate on VASP licensing

UAE’s virtual asset regulators VARA and SCA cooperate on VASP licensing

The Securities and Commodities Authority (SCA) signed a cooperation agreement with Dubai’s Virtual Assets Regulatory Authority (VARA) where it was agreed that VASPs operating in/from Dubai, or wishing to service the emirate of Dubai require to obtain a license from VARA, and can be registered by default with the SCA to service the wider UAE. VASPs wishing to operate out of any other Emirates, must be licensed by the SCA to do so.

In addition under the agreement, the SCA and VARA will set forth rules and procedures for licensing and supervision virtual asset service providers (VASPs) and any related activities, services or associated transactions. This is subject to licensing in accordance with the provisions of Cabinet Decision No. 111 of 2022, and No. 112 of 2022 (Regulating Virtual Assets and Their Service Providers) and within the respective jurisdiction of both parties.

The agreement covers the mechanism for mutual supervision of VASPs, penalty and fine imposition, the exchange of information and statistics, as well as cooperation in employee training and qualification.

The agreement was signed by Her Excellency Dr. Maryam Buti Al Suwaidi, the SCA’s CEO, and Mr. Matthew White, VARA’s CEO, in the presence of senior officials from both organisations.

His Excellency Mohamed Ali Al Shorafa, the SCA’s Chairman stressed on the importance of cooperation between different regulatory authorities across the nation to attract global businesses and organizations to operate within its dynamic financial sectors, including that of virtual assets. He indicated that investing in virtual assets continues to see substantial interest and exponential growth, which required joint efforts to build unified and effective frameworks that promote sustainable development and bring stability to this vital sector.

HE Al Shorafa remarked that the cooperation agreement signed with Dubai’s VARA is aligned with the government’s directives to regulate the local virtual assets sector, control its activities, and enhance overall monitoring to protect investors. It also ensures compliance with local anti-money laundering regulations as well as those related to the financing of terrorism and illegal organizations, which boosts investor confidence in the UAE and its resilience in the face of global challenges.

For his part, His Excellency Helal Saeed Al Marri, Chairman of VARA’s Executive Board commented that this agreement underscores a joint national commitment to leveraging regulations as an enabler to secure business enablement within the Virtual Assets ecosystem, so that the global industry can sustainably evolve to becoming a cornerstone for the New Economy. Dubai’s 2033 Economic Agenda has outlined a defined roadmap to becoming the global hub for tomorrow’s Innovation economy – and such regulatory collaboration and clarity is foundational to assuring consumers, investors, and the international business community, of the UAE’s position as a world-leading hub for the Future of Finance.

Finstreet launches Blockchain enabled digital venue for trading financial assets in ADGM

Finstreet launches Blockchain enabled digital venue for trading financial assets in ADGM

Finstreet, a subsidiary of Rorix Holding, announced on LinkedIn, that it would be the first to launch a Blockchain enabled regulated digital venue for trading financial assets both global private and public securities from Abu Dhabi ADGM ( Abu Dhabi Global Market).

As per the post, “ Finstreet will be using a blend of traditional and blockchain technology, Finstreet enables investors and issuers worldwide to access greater liquidity, global connectivity, and comprehensive 360-degree trading — all from one centralized global infrastructure.”

They add, “This is just the beginning of what we believe will reshape the future of securities and commodities markets.”

This category defining financial market infrastructure and its combination of activities makes it the first of its kind to operate across the global markets from Abu Dhabi’s ADGM. Following direct application of English common law under the regulation and supervision of the FSRA, Finstreet provides a platform for transitioning towards the future of capital markets as they respond to the opportunities presented by new technologies.

Finstreet’s three subsidiaries will be the first regulated, global market infrastructure to offer an end-to-end hybrid traditional and blockchain-powered ecosystem to investors and issuers, covering the full lifecycle of financial assets, including origination, issuance, trading, settlement and custody.

Dr. Thani bin Ahmed Al Zeyoudi, the Executive Chairman of Rorix Holdings, stated, “Today’s launch of Finstreet and the granting of its FSP licence by ADGM’s Financial Services Regulatory Authority is a testament to the UAE’s commitment to embracing technological advancement and enabling inclusive global trade. I am certain that Finstreet’s digitised trade exchange platform will provide markets with a holistic approach towards international trade and bring a new standard to capital markets on a global scale.”

Ahmed Jasim Al Zaabi, the Chairman of Abu Dhabi Global Market (ADGM), said, “Finstreet’s pioneering initiative embodies ADGM’s unwavering commitment to driving innovation and redefining the future of global finance. By establishing the first regulated digital market for the trading of both public and private securities within our jurisdiction, we are further solidifying Abu Dhabi’s status as a premier global financial hub. This launch not only reinforces our strategic vision of positioning Abu Dhabi at the heart of global finance but also propels economic growth and enhances connectivity across the global marketplace.”

Ajay Hans Raj Bhatia, the Chief Executive Officer of Sirius International Holding and Managing Director of Finstreet, commented, “With this initiative, we further our mission to diversify UAE’s economic growth agenda. Finstreet provides a foundation for a new, innovative infrastructure to allow global financial market participants to both realise their own capital raising ambitions and participate in the substantial growth story of UAE-based firms.”

Sunidhi Pasan, the Chief Executive Officer of Finstreet Limited, added, “By harnessing Finstreet’s innovative infrastructure and deep market knowledge, we are opening up new avenues for investment and trading for issuers and investors both in the region and abroad.”

RAKBANK executes international remittance using CBDC

RAKBANK executes international remittance using CBDC

The National Bank of Ras Al Khaimah (“RAKBANK”) has become one of the first banks in the United Arab Emirates to execute an international remittance using mbridge CBDC. The Bank utilized China’s digital Yuan (eCNY) in exchange for the Digital Dirham, the UAE’s CBDC.

Project mBridge is an ambitious initiative aimed at addressing inefficiencies in cross-border payments, such as high costs, slow processing times, and operational complexities. Launched in 2021, it is a collaborative effort between the Central Bank of the United Arab Emirates (CBUAE), the BIS Innovation Hub, the Bank of Thailand, the Digital Currency Institute of the People’s Bank of China, and the Hong Kong Monetary Authority.

The core of mBridge is a multi-central bank digital currency platform, built on distributed ledger technology (DLT). This platform allows participating central and commercial banks to conduct real-time, peer-to-peer cross-border payments and foreign exchange transactions. The mBridge Ledger, a new blockchain, underpins the platform, supporting secure and instantaneous transactions.

Raheel Ahmed, Group CEO of RAKBANK, commented: “The participation of RAKBANK in the mBridge platform and the execution of our first-ever central bank digital currency international payment highlight RAKBANK’s cutting-edge digital capabilities. This milestone reflects our commitment to breaking boundaries and solidifying our position as a leading retail and commercial bank in the UAE, with a rapidly expanding international payments arm”.

Vikas Suri, Co-Head of Wholesale Banking Group at RAKBANK, added, “The successful transfer of eCNY to our correspondent in China is a game-changer in several respects. It’s one of the first UAE-led foreign currency transfers executed in local currencies without involving a third currency to China and without using conventional payment rails. This is a gamechanger that paves the way for instant blockchain based CBDC exchanges with payment versus payment, fundamentally altering how we approach international payments. Our next steps will focus on supporting the China and UAE business corridor for our clients, by leveraging mBridge to reduce costs and improve the speed of remittances.”

In August RAKBANK partnered with Bitpanda Technology Solutions, a leading digital assets infrastructure provider, to provide a robust platform that will enable UAE residents to effortlessly manage digital assets, subject to UAE Central Bank approval.

Ripple renews blockchain research partnership with NYU Abu Dhabi University

Ripple renews blockchain research partnership with NYU Abu Dhabi University

Ripple, provider of digital asset infrastructure, proudly has renewed its partnership with NYU Abu Dhabi through its University Blockchain Research Initiative (UBRI). As per the announcement, this extension solidifies Ripple’s commitment to advancing blockchain research by supporting innovative student initiatives in the region, bringing the total funding grant to over $1 million in support of NYU Abu Dhabi research projects and student initiatives.

“Ripple and NYU Abu Dhabi share a vision of unlocking the full potential of blockchain research and innovation in the region,” said Reece Merrick, Ripple Managing Director, Middle East, and Africa. “The UBRI program plays a crucial role in supporting cutting-edge research and academic exploration, and this ongoing collaboration exemplifies Ripple’s dedication to driving transformative advancements in digital finance. Coupled with our recent partnership with the DIFC Innovation Hub to support blockchain innovation in the region, these initiatives highlight our broader strategy to integrate blockchain technology into startups and established institutions in the UAE.”

Ripple’s UBRI program is dedicated to fostering blockchain research and development at over 58 universities worldwide. The initiative aims to drive global adoption and interoperability of digital assets through strategic support, technical resources, and funding grants. UBRI’s global impact encompasses over $60 million in funding since its launch in 2018.

Lauren Weymouth, Director, University Partnerships at Ripple, added, “Ripple’s University Blockchain Research Initiative is dedicated to advancing blockchain research and education globally. In the past year alone, we’ve seen remarkable progress, funding over 313 scholarships and blockchain-related research projects and publishing over 150 research papers and technical projects. As we build on this momentum, we’re eager to further collaborate with NYU Abu Dhabi to cultivate innovation, foster fintech advancements, and contribute to the UAE’s growing leadership in the digital economy. By supporting UBRI-led research, we are investing in a region that leads in innovation and technological advancement, reinforcing our mission to foster transformative projects and support the UAE’s vision of becoming a global financial hub.”

Raša Karapandža, Visiting Professor of Economics at NYU Abu Dhabi, added, “NYU Abu Dhabi is thrilled to extend its partnership with Ripple, which has been instrumental in placing the university at the forefront of blockchain research and education in the region. The continued support from Ripple’s UBRI program strengthens our commitment to driving innovation and fostering a forward-thinking mindset within our academic community. As we extend this partnership, we aim to further empower our students and faculty by deepening their engagement with blockchain technology, advancing research in this transformative field, and equipping the next generation with the skills and knowledge needed to lead in the rapidly evolving digital economy.”

NYU Abu Dhabi was the first UAE university to join Ripple’s University Blockchain Research Initiative (UBRI). Since its inception in 2021, the Ripple Blockchain Collaboratory at NYU Abu Dhabi has successfully driven research and project-based courses in blockchain, cryptocurrency, cybersecurity, and fintech. Additionally, it has integrated with the Corporate Sprint Accelerator Program powered by startAD, helping fintech and blockchain startups launch and scale in the UAE through innovative pilot projects.

In its fourth year, this renewed partnership with NYU Abu Dhabi is part of Ripple’s broader strategy to deepen its engagement in the UAE and the wider Middle East region, underscoring its dedication to nurturing talent, fostering innovation, and advancing the adoption of digital assets.

As part of its commitment to its university partners, UBRI has played a pivotal role in this collaboration. NYU Abu Dhabi professors, including Raša Karapandža and Yaw Nyarko, are conducting world-class, UBRI-led research using blockchain and AI to create efficient markets in Africa, with a live crypto project in Ghana. The goal of their research is to leverage technology and markets to transform rural agricultural markets in developing countries, apply innovative blockchain technologies, digital currencies, and AI to benefit these markets, and improve the livelihoods and economic development of the poorest farmers in sub-Saharan Africa through technological innovations, enabling sustainable prosperity and growth.

Additionally, the university has been running an XRP Ledger (XEPL) validator and a new EVM side chain validator to enhance XRPL interoperability and support the broader adoption of innovative technologies in the region. Furthermore, the university has been offering fintech courses as well as courses on Technology and Economic Development that cover blockchain and AI technologies in great depth to prepare the next generation of leaders.