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Saudi Arabian NTDP invests in UAE tokenization platform Byzanlink

Saudi Arabian NTDP invests in UAE tokenization platform Byzanlink

Saudi Arabian NTDP ( National Technology Development Program), an entity aimed to transform Saudi Arabia into a tech leader by fostering sustainable development and innovation has invested along with Outlier Ventures, Smart IT Frame, Sensei Capital as well as angel investors Murali Kulala (CEO, Smart IT Frame), Salman Butt (Co-founder, Salla), and Christopher, a seasoned fintech investor, along with several other prominent angel backers, a sum of $1 million in UAE based Byzanlink, a Blockchain enabled real-world asset (RWA) tokenization platform bridging traditional finance and decentralized finance (DeFi), in a private funding round.

Byzanlink, operating our of Dubai DMCC is building an infrastructure to modernize access to institutional grade investment opportunities using blockchain tokenization.

The platform is designed to bring greater transparency, operational efficiency, and broader accessibility to financial assets that have traditionally remained out of reach for many investors.

“Support from such a diverse and forward-thinking group of partners is a strong signal for what we’re building,” said Anbu Kannappan, Founder and CEO of Byzanlink. “We believe the next generation of financial infrastructure will be powered by transparency, automation, and access. We’re committed to building that foundation.”

As per the press release, the recent funding will be used to accelerate product development, deepen ecosystem integration and strengthen the operational frameworks to support regulatory alignment and institutional adoption.

The platform aims to align traditional investment structures with modern financial rails, creating a foundation where capital moves faster, more openly, and with greater programmability. The company is positioning itself as a core infrastructure layer supporting compliant, yield-bearing financial products for institutions, fintech, and digital-native treasuries.

This comes as both Saudi Arabia and UAE develop tokenization solutions in both countries. Recently DroppRWA, a sister company of Web3 technology provider DroppGroup, partnered with Saudi Arabia’s real estate developer RAFAL Real Estate Co, to execute a Saudi Arabian pilot that would (RWA) tokenization real estate transaction. The pilot will serve as a national feasibility benchmark for the future of tokenized property markets in KSA.

Additionally in the UAE EmCoin, recently regulated by UAE’s Securities and Commodities Authority, will launch an investment platform that brings together digital assets and traditional finance all within a single, seamless mobile experience. Users will be able to trade Virtual Assets, invest in UAE and global equities, buy commodities, and access expert-managed portfolios with full transparency and trust.

Chainalysis expects that illicit crypto volume in 2024 will reach $51 billion

Chainalysis expects that illicit crypto volume in 2024 will reach $51 billion

In a recent Chainalysis 2025 Crypto Crime Report, the firm notes that while it may look like illicit cryptocurrency volumes are lower than 2024, their data has shown that year over year illicit crypto activity has grown at an average 25%. As such assuming a similar growth rate between now and next year’s Crypto Crime Report, their annual totals for 2024 could surpass the $51 billion threshold.

They noted, “At the time of this publication, we see a reduction in absolute value of illicit activity year-over-year (YoY); however, based on historical growth rates, we suspect that this number will eventually exceed last year’s total as our data attributions improve. In addition, our estimate for the share of all attributed crypto transaction volume associated with illicit activity, depicted below, also fell to 0.14% from 0.61% in 2023.1 Similarly, we expect this share to rise over time, although historically these rates consistently remain below 1%.”

The report also noted that usage of BTC for cyber criminals has decreased, replaced by stablecoins which now occupy the majority of all illicit transaction volume (63% of all illicit transactions). This is expected given that stablecoins occupy a sizable percentage of crypto activity which is around 77%.

In their 2024 Geography of Cryptocurrency report, Chainalysis covered the wide array of practical use cases for stablecoins in a range of markets, such as storing value, sending remittances, facilitating cross-border payments, and international trade.

Additionally, stablecoin issuers often freeze funds if they are made aware of their use by illicit actors. For example, Tether has frozen addresses of concern linked to scams, terrorist financing, and sanctions evasion, which can make stablecoins a poor tool for the transfer of value by illicit actors. Nonetheless, despite these ecosystem-wide trends, some forms of crypto crime, such as ransomware and darknet market (DNM) sales, remain BTC-dominated.

Stolen funds increased by approximately 21% YoY to $2.2 billion. Although the largest share of stolen funds was robbed from decentralized finance (DeFi) services, centralized services were the most targeted in Q2 and Q3.

Private key compromises accounted for the largest share (43.8%) of stolen crypto in 2024, with North Korean hackers stealing more from crypto platforms than ever before: $1.34 billion, representing 61% of the total amount stolen for the year. Some of these events appear to be linked to North Korean IT workers, who have been increasingly infiltrating crypto and web3 companies, compromising their networks, and using sophisticated tactics, techniques, and procedures (TTPs).

UAE Web3 Fund Aqua 1 invests in World Liberty Financial tokens

UAE Web3 Fund Aqua 1 invests in World Liberty Financial tokens

Aqua 1, Web3-native fund which seems to have been created recently, and on its website does not state who its team is announced it invested $100 million into Trump’s World Liberty Financial (WLFI) token, as a means to participate in the governance of the DeFi platform. The partnership will seek to synergize USD1 infrastructure to ignite adoption across commercial payment gateways and treasury management systems.

As per the announcement, the commitment will help accelerate the creation of a blockchain powered financial ecosystem centered on blockchain, Real World Asset (RWA) tokenization, and stablecoin integration.

The authors go on to noted, together, WLFI and Aqua 1 are building the definitive bridge between legacy systems and blockchain innovation, an institutional-grade marketplace delivering unparalleled access to traditional assets.

“We’re excited to work hand-in-hand with the team at Aqua 1,” said Zak Folkman, Co-Founder of World Liberty Financial. “Aligning with Aqua 1 validates our blueprint for global financial innovation, as we have a joint mission to bring digital assets to the masses and strengthen our nation’s standing as a champion and leader of cryptocurrency and blockchain technology.”

“WLFI and Aqua 1 will jointly identify and nurture high-potential blockchain projects together,” stated Dave Lee, Founding Partner of Aqua 1. ( no LinkedIn profile available)“WLFI’s USD1 ecosystem and RWA pipeline embody the trillion-dollar structural pivot opportunity we seek to catalyze, where architects merge traditional capital markets with decentralized primitives to redefine global financial infrastructure.”

Beyond the U.S. market, Aqua 1’s global investment and compliance teams will assist WLFI in expanding across South America, Europe, Asia, and emerging markets to accelerate digital asset ecosystem development.

Strategically, WLFI also plans to support the launch of Aqua 1’s Aqua Fund, a UAE-domiciled investment fund developed in partnership with leading regional stakeholders. The fund will be dedicated to accelerating the Middle East’s digital economy transformation through advanced blockchain infrastructure, artificial intelligence integration, and global Web3 adoption.

Aqua Fund aims to serve as a gateway for capital, talent, and technology to converge, positioning the region at the forefront of the next digital wave. Aqua Fund intends to partner with a secondary trading venue within ADGM to list the fund and facilitate secondary market liquidity for investors.

Furthermore, both parties plan to jointly develop and incubate BlockRock (https://x.com/BlockRock_rwa), an institutional RWA tokenization platform, focused on digitizing and integrating premium traditional assets into the Web3 ecosystem.

This is not the first time a UAE entity engaged with World Liberty Financial when it was announced that MGX, an Abu Dhabi tech company invested $2 billion in Binance crypto exchange, using the USD1 stablecoin. Binance listed World Liberty Financial USD (USD1) and opened trading for the following spot trading pair USD1/USDT.

UAE Omining crypto mining entity expands operations to Kenya

UAE Omining crypto mining entity expands operations to Kenya

UAE based Omining, the crypto mining infrastructure company operating under the DMCC ecosystem, has expanded operations into Kenya with new established facility in the Kenyan Special Economic Zone (SEZ) makes it one of the first large-scale Web3 deployments in East Africa by a UAE-based entity.

The company’s entry comes as global technology players, including Microsoft, expand into Kenya’s SEZ framework, with Google and Amazon reportedly completing due diligence for future presence in the region. Omining’s new facility will serve as its operational hub, with a 90-megawatt capacity currently being expanded to 200 megawatts.

It leverages Kenya’s stable electricity costs, investor-friendly regulation, and growing global relevance. Naivasha, where the plant will run, offers other key advantages: a year-round temperate climate ranging from 6 to 30 degrees Celsius, a 100% tax-free regime within the SEZ, and a currency whose value is closely aligned with the US dollar – much like Dubai.

“We’re witnessing the beginning of a revolutionary era – the democratization of cryptocurrency mining. By enabling anyone to mine a currency without government control, we’re participating in a groundbreaking movement that’s reshaping the world’s financial landscape,” said Francesco Colucci, Managing Partner at Omining.

In under-electrified markets, crypto mining operations can play a broader role. Kenya has made significant strides in renewable energy generation, yet in rural areas, grid expansion often remains economically infeasible due to low demand. Omining’s consistent, large-scale energy consumption and investments in the region can help stabilize long-term revenue for utility providers. This, in turn, adds to the long-term health of both infrastructure and access.

“The infrastructure we’re building is about more than just scale,” said Lorenzo Calligaris, CTO at Omining. “You need to be in environments that understand what you’re doing and let you move fast, but responsibly. That’s what we’ve had in Dubai, and now we’re applying that playbook in Kenya.”

Kenya’s positioning as an SEZ destination is rapidly gaining traction across multiple industries because of a skilled labor pool, and growing integration with global digital trade systems. Recent public commentary from Kenneth Chelule, CEO of the SEZ Authority, referenced the potential of crypto mining firms like Omining to contribute to SEZ employment and energy monetization.

Recently Phoenix Group also entered the African continent with operations in Ethiopia. expanded its operations into the burgeoning African market with the acquisition of an 80-megawatt (MW) power purchase agreement (PPA) in Ethiopia. This landmark deal, forged in partnership with Abu Dhabi-based cybersecurity firm Data7, marks a significant step in Phoenix Group’s global diversification strategy.

A new crypto fiat digital Bank to be launched out of Abu Dhabi

A new crypto fiat digital Bank to be launched out of Abu Dhabi

BipTap a global banking offering crypto and fiat banking services, has partnered UAE Al Fardan Ventures to launch an Abu Dhabi based Digital Bank BipTop.

BiTop offers complete solution integrating traditional banking with blockchain and cryptocurrency for using, managing and transferring crypto and fiat internationally using cards, offshore bank accounts, and wallets. The digital bank as per the press release will be both a wholesale and retail bank with B2B digital banking solutions.

The two parties are in the process of securing the required licenses to set up the operations in UAE.

As part of this development, the board has appointed Mr. Mohammed Ebrahim Al Fardan as Regional Managing Director, responsible for all Middle East operations and Global Technology Operations (GTO). Mr. Al Fardan brings decades of leadership in high-tech investments and innovation strategy, ensuring the digital bank will be positioned at the forefront of financial evolution.

Al Fardan noted that this is a significant partnership as it helps to reimaging global banking. He stated, “It aligns with our broader vision and upcoming investments in a global crypto liquidity platform and an AI-powered crypto trading ecosystem, which we plan to announce separately at the appropriate time.”

“This isn’t just a digital bank,” Jonathan Low shared. “It’s a financial revolution. By combining Abu Dhabi’s strategic location and Al Fardan Venture’s legacy in high-tech innovation and banking relationships all across the UAE and Middle East, with Biptap’s plug-and-play scalable infrastructure, we are democratizing banking access for the 21st century and beyond.”

Jonathan Low, CEO and Founder of Biptap, spearheaded the creation of the world’s first true Omni Banka modular, borderless system designed to be the ‘Airbnb of Banking,’ connecting users and businesses with the banks worldwide.

Already the UAE has several digital banks that are working in the crypto domain, including Zand Bank, Liv Bank, MBank, and Wio Bank. This announcement comes as the United States opens up its banking sector to crypto directly. The USA Federal Reserve Bank recently killed “Reputational Risk” rule that banks used to block crypto companies.

FED Chair Jerome Powell said, “Banks are perfectly able to serve crypto customers, as long as they manage the risks.”

MEVP and G42 invest in UAE AppliedAI series A $55 million round

MEVP and G42 invest in UAE AppliedAI series A $55 million round

Middle East Venture Partners (MEVP), a large MENA venture capital firm has invested in AppliedAI as part of the company’s Series A funding round alongside G42, Bessemer Venture Partners, and strategic partner e&. The investment completes AppliedAI’s oversubscribed $55M Series A.

AppliedAI, a UAE based company has developed an AI-powered automation platform, dubbed Opus, that transforms back-office operations in highly regulated industries, including financial services, healthcare, and government sectors. The company’s enterprise-grade solutions address critical digitization needs across the region.

“AppliedAI exemplifies the exceptional founders we back – talented entrepreneurs building innovative technology solutions that drive meaningful transformation in the Middle East,” said Walid Mansour, Co-CEO at MEVP. “Their deep understanding of regulated environments and proven enterprise traction make them a natural fit for our portfolio as we continue building global AI leaders from the MENA region, bringing forth innovation in tech and societies alike.”

The funding will accelerate AppliedAI’s international expansion while strengthening product capabilities and regional market presence. The company relocated from London to Abu Dhabi in 2022, establishing strong partnerships within the UAE’s growing AI ecosystem.

Equivator invests $8 million in GCC Related a loyalty rewards company

Equivator invests $8 million in GCC Related a loyalty rewards company

United Kingdom and Saudi Arabian Equivator, a premier alternative investment firm, has made a strategic investment of $8 million in UAE headquartered Related, where the funds will be used to launch AI and Blockchain solutions and expand into the United Kingdom.

As per the press release, the investment underscores Equivator’s commitment to nurturing groundbreaking ventures within high-growth sectors. It is aimed at accelerating Related’s expansion in the Kingdom, boosting innovation, and fast-tracking the launch of transformative solutions in AI, blockchain, and customer experience.

It also strengthens Related’s position as the company of choice for loyalty and rewards in Saudi Arabia and the broader Middle East and North Africa (MENA) region. The alliance aligns with Saudi Arabia’s wider economic diversification goals and its rapid digital transformation under Vision 2030.

Related currently services more than 30 million users across the GCC and Levant, powering loyalty programs for leading institutions in telecommunications, banking, retail, utilities, and entertainment.

“We are thrilled to welcome Equivator as a strategic partner on our journey to redefine loyalty and engagement in the region,” said Rabih Farhat, CEO of Related. “This partnership is more than a transaction; it’s a transformation, a joint mission to reshape the future of fintech-powered loyalty solutions in line with the Kingdom’s innovation agenda.”

The investment builds upon Equivator’s earlier involvement in the loyalty-focused B2C space through its prior investment in Uplines. In a decisive move, Related has acquired Uplines in full, integrating it into its broader strategic framework and setting the stage for a bold relaunch. As part of the development strategy, Related will introduce a range of new products and offerings, from Advanced AI tools to blockchain-enabled rewards platforms, gamification features and payments. These will enhance B2B and B2C experiences while unlocking value for brands and consumers alike.

“This is more than an investment. it’s a strategic deal to build a regional champion in loyalty and digital payments,” stated Enes Şehzade, CEO at Equivator. “Together, we aim to power a new era of data-driven customer engagement and reward invention.”

Equivator will support Related’s market entry into Europe and beyond while helping establish initiatives such as the “Related Loyalty & Fintech Authority”, a new regional knowledge and policy forum further solidifying Related’s leadership.

GAP 3 Partners receives VASP license from VARA Dubai

GAP 3 Partners receives VASP license from VARA Dubai

GAP 3 Partners (“G3”), a Dubai-based institutional virtual asset advisory firm, has been granted an Operational License by the Dubai Virtual Assets Regulatory Authority (VARA). With this advisory license, G3 becomes becomes a regulated Virtual Asset Investment Advisor authorized to provide its full range of services to institutional clients across the Emirate.

Founded by industry veterans Robin Janaway (Outlier Ventures), Chris Donovan (NEAR Foundation), and Adib Tohme, G3 offers advisory services covering token strategy, investment, structuring, licensing, treasury management, and token-market execution. The firm provides end-to-end virtual asset advisory services under a unified mandate, covering strategy, structuring, licensing, treasury management, and token-market execution.

G3 will support family offices, corporations, and investment institutions seeking secure and compliant access to the digital asset space, including emerging opportunities in real-world asset (RWA) tokenization and blockchain-based financial infrastructure.

“Dubai’s regulatory leadership together with accelerating institutional interest in digital assets create a unique environment for growth,” said the founding team in a joint statement. “We are building G3 to be the region’s premier Virtual Asset Investment Advisor, trusted by institutions to navigate complexity, unlock value, and lead in the next era of finance.”

G3 is leveraging Dubai’s progressive regulatory framework to help clients future-proof their operations and investments. As real-world asset tokenization and institutional digital asset strategies accelerate, G3 offers the structure, insight, and regulatory clarity needed to support high-trust adoption at scale.

Abu Dhabi transport department to accept AE Coin stablecoin for taxi payments in UAE

Abu Dhabi transport department to accept AE Coin stablecoin for taxi payments in UAE

Abu Dhabi transport Department and Municipalities under the Integrated Transport Center (ITC) of the Department of Municipalities and Transport, Tawasul Transport, will allow passengers to use the AE Coin stablecoin by Al Maryah Community Bank (Mbank) AEC Wallet application.

As per the press release, this is part of joint efforts to enhance digital payment solutions and develop smart, secure and seamless transportation. The initiative is the first of its kind globally to adopt a stablecoin pegged to the UAE dirham for public transport payments.


The launch event featured the first official payment using AE Coin following a completed ride in one of Tawasul’s taxis. The event showcased how the AEC Wallet offers a simple and secure payment experience, allowing users to complete transactions by scanning a QR code inside the vehicle.

AE Coin is pegged at a fixed rate of 1 AED = 1 AEC, ensuring strong financial stability and building trust in digital currency usage.


The AEC Wallet app is available for free on the Apple Store, Google Play, and Huawei AppGallery.

Mr. Ghena Jbour, General Manager of Tawasul Transport, stated, “This initiative serves as a model of effective collaboration between all entities striving for continuous development within the integrated transport ecosystem. It reinforces the UAE’s leading position in innovation and digital transformation in the transportation sector. At Tawasul Transport, we believe that digital transformation is not merely an option—it is a necessity to meet the evolving expectations and daily needs of users.”

He also noted that is contributed to enhancing customer experience in line with Abu Dhabi’s vision of a smart sustainable transport system.

Mr. Mohammed Wassim Khayata, CEO of Mbank, said: “We are proud to be part of this innovative collaboration with Tawasul Transport and the Integrated Transport Center, as it aligns perfectly with our vision of driving the future of digital payments in the UAE. AE Coin is not just a digital currency, it’s a key pillar of the UAE’s emerging financial infrastructure, bringing stability and compliance into real-time consumer payments through blockchain. Today, we are introducing a transformative payment experience, offering customers a future-forward, cashless, secure, and cost-effective way to use public transport. It’s a step forward in bringing the UAE’s Digital Government Strategy 2025 to life.”

Khayata added that MBank intends to partner with other businesses and governmental entities across the UAE to expand the adoption of the AEC Wallet and digital payments with AED stablecoin.

Ramez Rafeek, General Manager of AED Stablecoin, added, “By offering passengers a secure and seamless payment option in all Tawasul taxis, we are demonstrating how digital currencies can integrate effortlessly into everyday life. This partnership exemplifies the power of innovation and cooperation in driving the future of digital payments, and we’re thrilled to be at the forefront of this transformation.”

Recently, UAE based Air Arabia airline also started accepting the AED stablecoin, AE Coin, for payments such as flight booking. The airline is the first in MENA to offer a stablecoin based payment option. Users can book their flights using the AEC Wallet application developed by MBank.

AE Coin was the first AED stablecoin to be licensed in the UAE. As per the press release, the AEC Wallet app will be accepted across more transportation services, merchants, and retail outlets across the UAE.

VARA Dubai launches Decentralized exchange pilot

VARA Dubai launches Decentralized exchange pilot

Dubai’s Virtual Asset Regulatory Authority is piloting a decentralized exchange project, (DEX), the first of its kind in the MENA region. DEX is a peer to peer marketplace where users can trade cryptocurrencies directly with each other without the need for a central intermediary, differing from centralized crypto exchanges.

According to Mathew White CEO of VARA in a LinkedIn post, ” The conversation around decentralised finance (DeFi) has evolved. Not long ago, the question was “Will it survive?”. Now it’s “How fast can we integrate it? At the Virtual Assets Regulatory Authority [VARA], we don’t see DeFi as a threat to traditional finance (TradFi), but a high-efficiency tool for accelerating its evolution.”

He notes that their DEX pilot, the first in MENA reflects Dubai’s ambition to be the first jurisdiction in the region with DEX regulations. He also notes that it will offer regulatory certainty.

He states, “We’re not afraid to move first, as long as we move responsibly. Dubai’s innovation appetite, combined with VARA’s balanced oversight, is creating one of the world’s most supportive environments for DeFi to thrive.”

The building blocks which are smart contract, DAOs, oracles, dApps, and wallet are not fringe technologies but offer a compelling solution to one of finance’s oldest problems, siloed capital and slow moving liquidity.

He notes that DeFi shrinks clearing cycles, and counterparty risk is replaced with transparent auditable code.

Over $110 billion are currently locked in DeFi protocols, access becomes open and participation global, by default.

He refers to ARK Invest’s Cathie Wood rwho ecently called it a “financial services revolution.” She highlights DeFi’s growing share of futures and spot trading volumes, and an even more striking metric – lending. With DeFi’s share jumping from 15% to over 60%, the implications are profound.

But DeFi has also had its risk with $787 million in losses in 2023, and $474 million in 2024.

This is why according to White, ” At VARA, we’ve built a risk-based licensing regime tailored for this next phase of finance. This includes outcome-based rules and principles, mandatory on-chain audit reports before full protocol licensing, and real-time monitoring of APIs to detect market stress long before retail users feel it. This isn’t regulation for regulation’s sake. It’s about building the guardrails that make innovation sustainable. And in Dubai, we’re not just writing policy – we’re piloting the future.”

Recently Lorenzo Valiente. Director of Research at Ark Invest, highlighted “strong, secular trends” in DeFi. Valente pointed out that despite market volatility and macro uncertainty, DeFi’s share in futures trading has grown from 1.6% to 7% since the fourth quarter of 2022, while its share in spot trading has surged from 7% to 20%.

DeFi’s share in lending also jumped, widening from 15% to over 60%. “DeFi isn’t just surviving — it’s scaling,” Valented said.

According to DeFiLlama, the decentralized cryptocurrency exchanges recorded a volume of $6.82 billion in the last 24 hours, with Uniswap UNI/USD and Raydium RAY/USD being the main drivers. The DEX-to-CEX dominance was over 25%, indicating that decentralized exchanges logged a quarter of the volume compared to centralized exchanges.

Earlier White noted on LinkedIn that the tokenization of real-world assets (RWAs) is no longer an experiment. He stated, “It’s happening right now.” He explained how VARA views tokenization as more than a blockchain use case but rather as a structural shift and the foundation for a new kind of financial system. He explains, ” Everything from real estate and art to commodities and IP can be digitally represented, owned and exchanged in real time.”

So VARA is working on two innovative implementations within the blockchain and crypto ecosystem in 2025, and maybe more to come.