Galaxy, a leader in digital assets and data center infrastructure, and e& capital, the venture capital and investment arm of globaly technology group e& lead $12.2 million Series A funding round in Fuze, the Middle East and Turkey’s fastest growing digital assets infrastructure firm.

As per the press release, the Series A investment will fuel Fuze’s regional and international expansion, accelerate product innovation and compliance, and support top-tier hiring. Fuze provides Digital Assets-as-a-Service infrastructure enabling financial institutions and businesses across MENA and Turkey to offer regulated digital assets to their clients, as well as an Over-The-Counter (OTC) trading desk. In addition, Fuze has now launched a full suite of stablecoin infrastructure products and recently announced its expansion, through FuzePay, into payments.

Mo Ali Yusuf, CEO and Co-Founder at Fuze, stated, “Strategically, Galaxy’s comprehensive digital asset capabilities and e&’s unparalleled network will fast-track our mission to enable any bank, fintech or traditional business to seamlessly integrate digital assets and accelerate regional digital asset adoption. We are seeing a huge surge in demand and we believe that in the next 12 months, every financial institution and business will leverage some type of crypto or stablecoin capability.”

Leon Marshall, CEO of Galaxy Europe, added, “We are thrilled to partner with Fuze and lead this Series A round. The Middle East is poised to become a major hub for innovation, with the UAE demonstrating a willingness to develop comprehensive regulatory frameworks for digital assets and Fuze rapidly advancing its digital assets infrastructure.”

Fuze has been championed from the beginning by Further Ventures, an ADQ-backed venture builder and investment firm. In 2023 the company raised a seed round of $14mn, the largest Seed investment in a digital assets startup in the history of the Middle East and North Africa region (MENA). The investment was led by Abu Dhabi-based Further Ventures, along with participation by US-based Liberty City Ventures. 

Mohamed Hamdy, Managing Partner at Further Ventures said, “This fundraising round marks an important milestone for Fuze, a company that Further Ventures backed since inception. We’re proud to welcome leading global investors – including Galaxy, e& Capital, and others – to join us on this journey. We believe Fuze is poised to become a dominant force in enabling digital asset businesses around the world.”

Harrison Lung, Group Chief Strategy Officer e&, said “With our investment in Fuze, we’re excited to align with a team that’s setting the benchmark for what a future-ready, regulated digital asset ecosystem can look like. There’s a natural synergy between Fuze and our fintech portfolio, from e& money to Wio and Careem Pay. And this investment is about backing bold companies who understand the long game, building digital assets infrastructure to supercharge the next wave of financial services innovation.”

In the last year, Fuze has processed over $2 billion in total digital assets volume through their Digital-Assets-as-a-Service platform, stablecoin infrastructure, and OTC.

Solv Protocol, creators of SolvBTC.CORE in partnership with CoreDAO and Nawa Finance have launched a Shariah compliant Bitcoin yield product.

SolvBTC.CORE enables institutions to access halal Bitcoin yields while meeting Shariah standards, unlocking a new era of Bitcoin finance (BTCFi) adoption.

The Middle East alone holds over $5 trillion in sovereign wealth fund assets. A significant portion of these funds require strict Shariah compliance before allocating capital into new asset classes, including digital assets like Bitcoin.

SolvBTC.CORE breaks down this barrier, offering a compliant pathway for these funds to earn sustainable yields on Bitcoin. Certified by Amanie Advisors, a globally recognized leader in Shariah advisory, and facilitated by Nawa Finance, a Shariah-compliant DeFi partner, SolvBTC.CORE adheres to the highest standards of Islamic finance, ensuring sovereign funds and institutional allocators can confidently participate in BTCFi.


SolvBTC.CORE combines Bitcoin’s security with Shariah-compliant yield generation by pegging Bitcoin, Every SolvBTC.CORE token is fully backed by Bitcoin, preserving the underlying value of users’ assets. It also offers secure staking yields where Bitcoin holders stake BTC through SolvBTC.CORE to help secure the Core Network, earning consistent on-chain yields without compromising liquidity or self-custody.
Yield generation mechanisms are fully aligned with Islamic finance principles — free from interest-based income and excessive risk.
Investors maintain full liquidity to deploy assets across DeFi opportunities, blending yield generation with active market participation.
With SolvBTC.CORE, institutions can now:

Ryan Chow, Founder of Solv Protocol, states, “SolvBTC.CORE paves the way for sovereign wealth funds and traditional financial institutions to securely and confidently stake Bitcoin and earn real, on-chain yields.”

Animoca Brands today announced its official expansion into the Middle East, with a presence in Dubai, United Arab Emirates, to meet the growing demands of Web3 organizations moving into the region. The company has also appointed Omar Elassar as managing director for the Middle East and head of global strategic partnerships.

As per the press release, the Dubai office will serve as a hub to engage with both local and international partners to foster innovation, guide strategic direction and operations and develop partnerships.

Oman Elassar will oversee the Middle East growth and operations. As a Web3 veteran Oman has eight years of Web3 native technology experience having held various executive roles with Polkadot, Ripple and others. He has also worked across corporate and technology strategy, as well as financial advisory at firms including Oliver Wyman, Deloitte, and Morgan Stanley. He holds an MBA from INSEAD, and an Honours degree in Computer Engineering from the University of Waterloo in Canada.

Commenting on the appointment, Evan Auyang, group president of Animoca Brands, said, “Omar’s deep expertise in Web3 makes him an exceptional addition to Animoca Brands. His leadership will be a key driver in driving Animoca Brands’ strategic growth in the Middle East and beyond.”

Omar Elassar, managing director for Middle East and head of global strategic partnerships, added, “We are excited to establish our first office in the Middle East, one of the world’s most connected innovation hubs, to leverage the region’s vibrant landscape and support the evolving needs of the Web3 industry locally and globally. Joining Animoca Brands at this phase in its journey presents a unique opportunity to work with visionary builders and contribute to the wider integration of blockchain technology in a market that is poised for significant growth.”

​Animoca Brands has been active in the MENA region

Already Animoca brands has been active in the region whether in Saudi Arabia or the UAE. Earlier this year is signed an agreement with Saudi Neom, and also led an investment in UAE based Param Labs, an independent Web3 Blockchain gaming and technology studio totaling $7 million.

UAE RAK Digital Assets Oasis (RAK DAO), the Free Zone dedicated to digital assets and blockchain enterprises, and SuiHub MENA, the regional innovation hub supporting the growth and scaling of startups within the Sui blockchain ecosystem have partnered to scale MENA startups through an accelerator program.

The program as per the announcement will provide entities with the resources and support to tap into the region’s regulatory and licensing infrastructure.

Sui selected Dubai in 2024 as its inaugural location for the first SuiHub, while RAK DAO is already home to over 500 Web3 companies spanning GameFi, NFTs, non-custodial wallets, proprietary trading firms, and Decentralized Autonomous Organizations (DAOs).

Kristof Lukovich, CEO of SuiHub MENA, stated, “SuiHub MENA’s partnership with RAK DAO presents a unique opportunity for startups to work in a supportive environment where they can focus on their growth. We believe that by building strong, long-term strategic collaborations with Govt. entities, regulatory bodies, and licensing authorities, we are positively contributing to helping the ecosystem further develop here in the UAE. We are proud of our partners and are delighted to formalize our collaboration with RAK DAO.”

Paul Dawalibi, CEO of RAK DAO, commented: “The partnership with SuiHub MENA reinforces our commitment to enabling high-growth blockchain ventures with the tools and infrastructure they need to thrive. At RAK DAO, we’re focused on building an ecosystem that combines regulatory clarity with global connectivity, and collaborations like this are central to that vision.”

In February 2025, SuiHub Dubai, received over 630 applications for its Global Accelerator Program, the largest intakes ever recorded for an ecosystem-specific accelerator program. SuiHub’s accelerator program attracted interest from over 13,000 individuals from 152 countries and 2,452 cities.

—–

Zodia Custody, the institution-first digital assets platform backed by Standard Chartered, Northern Trust, SBI Holdings, National Australia Bank, and Emirates NBD, is exploring the potential acquisition of UAE regulated Tungsten Custody Solutions.

According to the press release, the acquisition would significantly expand Zodia Custody’s operational footprint in the Middle East and would benefit from Tungsten’s licensing within the Abu Dhabi Global Market (ADGM).

Additionally the integration with Tungsten Custody Solutions, Zodia Custody would enhance its ability to deliver secure, digital asset custody services in the region. Tungsten also holds an Initial Approval and No-Objection Certificate from Dubai’s Virtual Asset Regulatory Authority (VARA). Zodia Custody will continue the process of obtaining its full Virtual Asset Service Provider (VASP) license from the Dubai regulator.

As part of the transaction, Further Ventures, Abu Dhabi’s leading digital asset-focused venture capital firm, would also join Zodia Custody’s cap table. Further Ventures incubated Tungsten Custody Solutions from inception and brings deep institutional ties across the UAE’s investment, innovation, and regulatory ecosystems.

“The UAE is setting the global standard for digital asset infrastructure – and we’re here to build with it,” said Julian Sawyer, CEO of Zodia Custody.

“It’s a natural move for us to explore joining forces with Mohamed Hamdy and the team at Further Ventures, who are recognised leaders in fostering growth and innovation within the global digital asset landscape. We are looking forward to learning from their expertise and in-market insights as we work to expand our presence in the UAE.

“This acquisition would give us licensed, operational scale within ADGM and unlock deep connectivity with the region’s sovereign ecosystem. It’s a pivotal moment in our global strategy.”

Mohamed Hamdy, Managing Partner at Further Ventures, comments, “We are excited to explore joining Zodia Custody on its journey to becoming the global leader in institutional digital asset custody solutions. Zodia’s robust infrastructure, world-class team, and exceptional track record provide a powerful foundation to accelerate the adoption of digital assets across the Middle East and beyond. This partnership would not only be strategic but would align perfectly with our vision of nurturing transformative companies within the UAE’s digital economy.”

Completion of the acquisition is subject to the completion of due diligence and regulatory approval, shareholders’ approvals and satisfaction of other customary closing conditions. This news comes alongside key leadership appointments, including Dominic Longman, previously Senior Executive Officer at Binance Abu Dhabi Limited, now serving as Managing Director, Middle East and Africa (MEA). He is joined by Zane Suren, Managing Director of Commercial, MEA, who relocated to the UAE earlier this year, and will lead Zodia Custody’s regional growth from its ADGM-regulated hub.

UAE regulated, Tokinvest, a marketplace for real-world asset (RWA) investing, and Zand Bank, the UAE’s first fully licensed, AI-powered bank and a regulated digital asset custodian have partnered to transform the way investors access high-value assets through tokenization.

As per the press release, the partnership will offer fully integrated solutions for tokenized real world assets including design, issuance, custody and trading. Tokinvest and Zand Bank are paving the way for a more accessible, liquid, and transparent investment ecosystem. By combining Zand Bank’s regulated custodial services with Tokinvest’s expertise in tokenised investments, this partnership offers a secure, compliant, and scalable model for the next generation of real-world asset investing.

Tokinvest and Zand Bank will enable investors, both institutional and individual, to gain fractional exposure to premium assets without the high barriers to entry. All the transactions will be fully compliant with UAE’s regulations, while asset owners and issuers will be able to raise funds efficiently from a broader global investor base.

Scott Thiel, CEO & Co-Founder of Tokinvest, commented, “This isn’t just a partnership—it’s a game-changer. Together with Zand Bank, we’re building the future of tokenised investing, making it easier, safer, and more accessible for everyone. The old barriers—high capital requirements, complex legal structures, limited liquidity—are being broken down. Dubai is at the forefront of this transformation, and this collaboration reinforces our commitment to giving investors access to exclusive opportunities in a way that’s fully regulated, transparent, and seamless.”

The collaboration will support issuers in creating, listing, and trading tokenized assets across multiple asset classes, including real estate, funds, and commodities.

Michael Chan, CEO of Zand Bank, added, “Zand Bank is proud to lead the way in the digital economy by offering innovative banking products alongside our institutional-grade custodial solutions. Our collaboration with Tokinvest showcases our commitment to providing secure and transformative financial services that bridge traditional finance with the digital asset world. We are committed to delivering seamless, transparent, and accessible investment opportunities, setting new benchmarks for innovation and security in the tokenized asset market.”

Previously Zand Bank had signed a partnership with Mantra Chain for tokenizing real world assets. Since then Mantra Chain’s OM Token has faced its own downward decline.

Zand Bank continues to forge ahead with new partnerships

UAE fully licensed digital bank Zand, has collaborated with UAE Web3 financing platform Klickl. This came after Zand Bank announced that it was launching its licensed digital asset custody services. In addition Zand announced it would be launching Zand’s AED-backed stablecoin which will further enhance the bank’s ability to integrate TradFi and DeFi, reinforcing its leadership in the digital assets landscape.

In 2023, UAE based Abu Abu Dhabi Global Market (ADGM) and Zand Bank, partnered to offer preferential banking services and efficient bank account opening for ADGM-licensed entities, including SMEs, virtual assets companies, funds, and corporations. Since then it has become the go to bank for crypto exchanges, and other Web3 entities when it comes to crypto banking related services.

Circle Internet Group, Inc., a stablecoin market leader and issuer of USDC stablecoin has received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM in the UAE to operate as a money services provider.

The initial approval will allow Circle once fully licensed to offer compliant digital finance solutions across UAE. Circle seeks to secure a Financial Services Permission (FSP) under ADGM’s progressive regulatory framework.

In 2024 Circle’s incorporated its entity in ADGM.

Jeremy Allaire, Co Founder, Chairman and CEO of Circle noted, that the UAE was paving the way for responsible innovators to built the internet financial system. He noted, “This IPA from ADGM advances our strategy to establish deep roots in markets embracing the onchain economy, creating new pathways for investment and innovation in the region. It also underscores Circle’s enduring commitment to global stablecoin oversight—strengthening trust, compliance, and adoption worldwide, while laying a resilient foundation for the internet financial system.”

“We are excited about Circle’s contribution to ADGM’s dynamic ecosystem leveraging their regulatory-first approach, commitment to innovation, and global credibility in the stablecoin space,” said Arvind Ramamurthy, Chief of Market Development at ADGM. “Their presence aligns with ADGM’s position as a hub for innovation, offering a robust regulatory environment for the growth of next-generation financial services. We look forward to working with Circle as they expand their operations and contribute to the advancement of digital finance in the UAE.”

Dante Disparte, Chief Strategy Officer & Head of Global Policy and Operations at Circle. stated, “Circle continues to demonstrate how trusted infrastructure, built on rigorous compliance and transparency, can advance the safe adoption of stablecoins worldwide. This moment reinforces our belief that regulation is not a constraint on innovation, but its most powerful catalyst.”

The announcement comes a day after FAB Bank in UAE announced it would be issuing an AED stablecoin.

Tether was also the first global stablecoin issuer to announce it was seeking a license in UAE from the Central Bank to launch its AED stablecoin.

TOKEN2049, a premier crypto conference, has officially sold out ahead of the event in Dubai UAE, with 15,000 participants and 200 speakers. From 30 April – 1 May 2025, TOKEN2049 Dubai will host a landmark roster featuring Binance Founder Changpeng “CZ” Zhao, Executive Vice President of The Trump Organization Eric Trump.

They will be joined by more than 200 other founders, investors, builders and policymakers – including Balaji Srinivasan (The Network State), Raoul Pal (Co-Founder and CEO, Real Vision), Star Xu (Founder, OKX), Richard Teng (CEO, Binance), Paolo Ardoino (CEO, Tether), Arthur Hayes (CIO, Maelstrom), Jeremy Allaire (Co-Founder and CEO, Circle).

Alex Fiskum, Co-Founder of TOKEN2049, commented that they were excited to be welcoming this record number of attendees with 80% of them from outside of the UAE. He noted, ” The global crypto industry has truly gathered in Dubai for TOKEN2049 Week, with over 500 side events happening across the city. We’ve curated an incredible program featuring the industry’s most influential voices, alongside immersive activations and a citywide experience.”

TOKEN2049 Dubai Title Sponsors include OKX – a leading technology company building a decentralized future; Binance – the largest crypto exchange by trading volume and users; BloFin – a global, secure, and user-first platform for premium futures trading; Spacecoin – a decentralized internet satellite network using blockchain technology for global connectivity; MEXC – a global exchange known as “Your Easiest Way to Crypto;” KuCoin: Shaping the Future of Crypto, and Mesh – the first global crypto payments network.

The Stacks Asia Foundation, under the name Stacks Asia DLT Foundation has announced its operations in UAE ADGM to expand Bitcoin in Asia and the Middle East. The established presence in ADGM will be the first Bitcoin based foundation recognized in ADGM.

As per the press release, the Foundation leverages ADGM’s world-leading Distributed Ledger Technology (DLT) Foundations framework, which sets a new standard for blockchain foundations, DAOs, and Web3 projects which will allow Stacks to drive Bitcoin utility, innovation, and adoption at a global scale.

Kyle Ellicott, Executive Director at the Stacks Asia Foundation, shared, “We chose to establish our presence in ADGM because of its unparalleled commitment to fostering innovation in the blockchain space. Their forward-thinking approach to policy-making aligns perfectly with the Stacks ecosystem’s history of creating pathways for Bitcoin builders.”

With Hong Kong as a strategic hub, the Foundation plans to work closely with local partners to, launch educational programs for Bitcoin developers and users, support policy initiatives that advance Bitcoin DeFi, yields, and digital asset regulations, and foster collaboration between institutions, builders, and innovators.

The momentum around Bitcoin programmability continues to accelerate. With the launch of sBTC earlier this year, users can now access a 1:1 Bitcoin-backed, programmable asset for lending, trading, and more, without compromising Bitcoin’s security.


The Stacks Asia Foundation will build on this by empowering builders, educating institutions, and creating pathways for Bitcoin-powered DeFi in both Asia and the Middle East.

As Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority, put it, “The Stacks Asia DLT Foundation’s registration in ADGM highlights our commitment to fostering transformative technologies. As more leading blockchain foundations choose ADGM as their regulatory home, the region continues to serve as a key location for innovators looking for a secure and forward-thinking environment. With this addition, ADGM reinforces the UAE’s growing role in the digital asset space, paving the way for significant advancements in Bitcoin Layer-2 solutions and wider blockchain adoption across the Middle East.”

In November 2023, the Abu Dhabi Global Market (ADGM) introduced the Distributed Ledger Technology (DLT) Foundations Regulations 2023, marking the world’s first legal framework for blockchain within its jurisdiction. They have been actively broadening its regulatory framework relating to digital assets and DLT, with the objective of establishing a comprehensive legal and regulatory structure for such businesses.

In 2024, the TON Blockchain registered its DLT Foundation at ADGM in the UAE under ADGM’s DLT Foundations framework, as well as Japanese Bitgrit, and the Kaia DLT Foundation, which was formed through the merger of the Klaytn and Finschia blockchains initially developed by Kakao and LINE, respectively.

IOTA was also one of the first DLT Foundations to be registered in ADGM.


Daleel, a Middle East leading personalized financial marketplace will integrate and showcase cryptocurrency products from Binance Bharain. Through the Binance Link Program, Daleel will be able to access the top 10 crypto trading pairs from the largest and most liquid crypto exchange.

As per the press release, Daleel will become the first financial marketplace in the Middle East to present and compare information on cryptocurrency products alongside traditional financial services such as credit cards, loans and mortgages.

Users of Daleel’s platform will benefit from greater choice, the ability to seamlessly explore and access a wider range of financial products, while bridging the gap between traditional banking and digital assets.

Tameem Al Moosawi, Binance Bahrain GM, commented, “Cryptocurrency is being embraced around the world and providing access and visibility to crypto within a marketplace alongside traditional financial services will further legitimize crypto as an asset class. By adding cryptocurrency into everyday financial decision-making, we’re not just offering more choice, we’re defining what the future of finance looks like for millions of customers across the Middle East.”

PK Shrivastava, CEO at Daleel said, “We’re proud to be the first Middle East marketplace to offer crypto pricing from Binance, the largest crypto exchange. Through Daleel, customers in the Middle East will be able to access transparent information about cryptocurrency right alongside more traditional financial products.”

Daleel is a marketplace registered and licensed in the UAE and Bahrain and provides services in accordance with local regulations.