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Qatar’s design district introduces Blockchain NFT ticketing with zbyte

Qatar’s design district introduces Blockchain NFT ticketing with zbyte

zbyte, a blockchain technology provider has partnered with Doha Design District to introduce an NFT ticketing system for the upcoming TEFFA AI R evolution (Technology Education Finance Fashion & Art) event returning to Msheireb Downtown Doha for its second edition from 6-8 May, 2024. This innovative deployment sets a new standard in the event industry by leveraging cutting-edge technology to enhance attendee experiences.

Doha Design District, renowned for its commitment to merging the domains of fashion, art, and technology, has adopted zbyte’s blockchain platform to mint NFT tickets. It simplifies the ticketing process and adds a layer of security and exclusivity, transforming each ticket into a unique digital collectible. The ease of minting NFTs through zbyte’s platform demonstrates a significant leap towards digital innovation in Qatar.

Qatar has shown growing interest in adopting blockchain technology, seeing it as a key driver for future innovations and digital transformation.

Shaikha al Sulaiti, Senior Design Manager Doha Design District, expressed her excitement about this partnership: “We are thrilled to sponsor an event that not only showcases the rich culture of Qatar but also embraces such transformative technology. This collaboration with zbyte and TEFFA is just the beginning of our journey towards integrating more digital solutions in creative domains.”


The collaboration between zbyte, TEFFA AI R evolution, and Doha Design District is expected to set the stage for future technological integrations that could redefine the event management and attendee engagement industries.

Nitin Kumar, Co-founder of zbyte, shared his vision for the technology’s impact: “Our partnership with Doha Design District and TEFFA AI R evolution is a testament to the potential of blockchain technology in making a tangible impact. By simplifying the minting of NFT tickets, we are setting a new paradigm for events that enhances security, attendee engagement, and the overall event experience. We are excited to see how Qatar embraces this technology and look forward to expanding our innovative solutions further.”

After its crypto broker license in UAE, WadzPay now seeks license for stablecoin issuance

After its crypto broker license in UAE, WadzPay now seeks license for stablecoin issuance

WadzPay, a fintech blockchain based technology for virtual asset payment solutions, has announced its entrance into the Stablecoin business. According to the press release, this will shift Wadzpay’s strategy from one of being a virtual asset payments company to a blockchain financial services solutions provider. The new solutions will be organized as a new business and new brand. To ensure regulatory compliance, WadzPay will set up a new entity and will pursue approvals in UAE, Hong Kong, and Singapore.

WadzPay recently was granted a license for crypto brokerage by Dubai’s virtual asset regulatory authority, pending finalizing some requirements.

The decision to venture into the Stablecoin market comes as a response to the increasing demand for secure, transparent, and efficient digital payment solutions worldwide. WadzPay will introduce two main products: Stable Coin as a Service and its own regulated USD$ Stablecoin, designed for local and international payments, cross border remittances, and settlements of on-chain transactions related to RWA.

According to recent market research by Bernstein, the global market for stablecoins is projected to grow from $125 billion to almost $3 trillion in next 5 years. This growth is fueled by factors such as the rise of decentralized finance (DeFi) applications, cross-border remittances, and the need for stable digital assets to mitigate volatility risks in cryptocurrency markets.

By leveraging blockchain technology, WadzPay aims to provide users with a reliable alternative to traditional fiat currencies, offering stability, convenience, and speed at lower cost in transactions for merchants, businesses and individuals worldwide. With a focus on compliance and regulations, WadzPay is poised to address the growing demand for stablecoins while ensuring security and regulatory compliance in its operations. Apart from the traditional use cases, WadzPay will add some new and innovative uses of stablecoins to the mix.

With this strategic move, WadzPay aims to innovate in solving foreign exchange problems and will introduce an innovative first-in-market business model, setting itself apart from competitors. WadzPay will build a world class team under the new leadership to drive this business.

Founder & Group CEO of WadzPay, Mr. Anish Jain, emphasized the strategic significance of this expansion, stating, “Our entry into the stablecoin business reflects our dedication to meeting the evolving needs of our customers and staying at the forefront of technological innovation. With the growing adoption of virtual assets, particularly stablecoins, we see tremendous potential for growth and are excited to offer our expertise in this space, while remaining committed to compliance and regulations.”

Leading the initiative is Mr. Jason Sarria-Solis as the President – Emerging & New Business in charge of the stablecoin business. With over 20 years of experience in the technology and fintech industry, Mr. Jason brings a wealth of knowledge and a proven track record of driving business growth and innovation. He has led multiple projects spanning from founding and scaling a successful telecom startup in the UK to leading digital banking, embedded finance, and blockchain projects in Asia.

Commenting on his appointment, Mr. Jason Sarria-Solis expressed his enthusiasm, stating, “I am thrilled to join WadzPay at such a pivotal moment in the company’s journey. The stablecoin market presents immense opportunities for disruption and advancement in the payments, remittance, and on-chain settlement space, and I look forward to leading our team in delivering innovative solutions that meet the needs of our users and drive the company’s growth.”

WadzPay remains committed to its mission of revolutionizing the virtual asset financial services landscape with blockchain technology, and the expansion into the stablecoin business marks a significant milestone in this journey. With a focus on technological excellence, customer satisfaction, and strategic partnerships, the company is poised to emerge as a key player in the financial services ecosystem.

Cardano is in the UAE with Dubai Blockchain center

Cardano is in the UAE with Dubai Blockchain center

The Cardano Foundation has today announced a strategic partnership with Dubai Blockchain Center (DBCC), a leader in technological innovation. This exciting collaboration is set to empower and expand the Cardano community, welcoming both current enthusiasts and newcomers to explore the unique aspects of the Cardano technology. The partnership will establish a certification program tailored for Cardano enthusiasts. This initiative will offer specialized training seminars designed to educate, certify individuals and organizations on the advanced features and enterprise applications of the Cardano blockchain.

Both the Cardano Foundation and the Dubai Blockchain Center are deeply committed to advancing education and understanding of blockchain technology. This partnership will leverage educational materials developed by the Cardano Foundation’s subject matter experts, incorporating content from the Cardano Academy to create customized, in-person training seminars. This long-term collaboration aims to significantly enhance the knowledge and adoption of blockchain technology across the MENA region, working towards an offering of certified courses.

Speaking about the partnership today, Frederik Gregaard, CEO of the Cardano Foundation, stated, “We’re excited to sign and to announce this partnership with Dubai Blockchain Center today. Blockchain is a vital technology that has the potential to change the course of how society operates for the betterment of all. Education is essential to achieving that change. By partnering with noted and established leaders in the space, particularly one as successful, prestigious, and visionary as Dubai Blockchain Center, we are able to expand the reach and the efficacy of that educational focus.”

Dr Marwan Alzarouni, CEO of Dubai Blockchain Center and Senior Advisor to Dubai Department of Economy and Tourism, added, “We are thrilled to announce our partnership with the Cardano Foundation—especially as this aligns with DBCC’s mission to promote education, training, and research in blockchain technology. This collaboration aims to provide a new generation of blockchain enthusiasts with customized educational programs and revolutionary technology solutions designed specifically for supporting the application and understanding of Cardano’s advanced blockchain technology. Together, we are committed to helping improve the level of blockchain integration in a variety of sectors to catalyze their innovation, plus enhance their level of impact and adoption at an international level.”

The partnership also deepens the growing connections between the Cardano Foundation and some of the most influential institutions and stakeholders in both Dubai and the Middle East. In 2023, the Cardano Foundation brought its renowned blockchain conference, the Cardano Summit, to Dubai for the first time. This year, it will once again return to Dubai to host the Cardano Summit from the 23rd to the 24th of October. 

Frederik Gregaard concluded: “Dubai is increasingly being recognized as one of the leading locations for blockchain technology, with a continued investment in and dedication to the advancement of blockchain utility. By deepening our connections in Dubai and this region, the Cardano Foundation will continue to drive forward the adoption and operational resilience of this key technology.”

Dubai Blockchain center also recently partnered with BitLayer a Layer 2 bitcoin platform.

UAE and Bahrain regulated CoinMENA allows crypto users to send USDT on TON Blockchain

UAE and Bahrain regulated CoinMENA allows crypto users to send USDT on TON Blockchain

UAE and Bahrain regulated CoinMENA crypto broker has added Telegram’s The Open Network (TON) to its platform, allowing users to send USDT via the TON blockchain. According to the announcement CoinMENA becomes the first regional platform to enable USDT withdrawals via the TON network.

TON joins Ethereum’s ERC-20 and TRON’s TRC-20 as the third blockchain available to CoinMENA users for sending USDT.

CoinMENA Co-Founder and Managing Director Dina Sam’an expressed her excitement in a LinkedIn post saying “Users can seamlessly swap their local currencies to USDT at the most competitive market rates and send them to over 900 million Telegram users. I am extremely excited and proud of the team for mobilizing quickly and becoming the first regional platform to enable USDT withdrawals via TON just 10 days after Tether announced launching USDT on TON.”

CoinMENA Co-Founder and CEO Talal Tabbaa added “Stablecoins, particularly USDT, stand out as crypto’s “killer app,” constituting approximately 70% of on-chain transactions and providing access to U.S. dollars for millions worldwide. The rapid adoption of USDT regionally is unsurprising, given its superior and more convenient experience compared to traditional USD wire transfers. Additionally, with many regional currencies pegged to the dollar, using USDT as a medium of exchange mitigates exposure to FX risk. I’m thrilled about this addition and proud that CoinMENA is leading the charge as the first crypto company to offer this in the region”

The announcement adds that this aligns with CoinMENA’s mission to become the simplest and safest way to onboard people onto crypto by providing a reliable onramp to stablecoins, the most popular use case thus far.

CoinMENA has had a string of partnership announcements with formidable players over the past months. The crypto broker recently partnered with Zodia Markets, enhancing liquidity for its platform. It also partnered with Network international to offer secure onramp from Fiat to crypto, and even partnered with Onramp Bitcoin.

PWC MENA report features Fils carbon credit tokenization use cases

PWC MENA report features Fils carbon credit tokenization use cases

 UAE based Fils, an enterprise-grade digital infrastructure provider enabling companies to embed sustainability and climate action into their business models, has featured in a new PWC Middle East report on Carbon credit tokenization: Pioneering a sustainable future. 

It has been estimated that the carbon credits market will expand to US$100 billion by 2030, by Morgan Stanley, a global leader in financial services. The PwC Middle East report examines the tokenization of carbon credits and how financial institutions can become game-changing players in leveraging this process to combat climate change.  

The report emphasizes the practical deployment of carbon credit tokenization- as demonstrated by Fils – showcasing how the fintech’s technology is being used by several of its banking clientele.

Since its launch ahead of COP28 last year, Fils has embedded digital tools to businesses across various sectors, enabling them to integrate climate initiatives into their workflows.

A case study featuring in the report reveals that their innovative software has enabled major fintechs, such as Magnati in the UAE and Geidea in the KSA, and banks such as Mashreq, to process payments that automatically offset carbon emissions, simplifying eco-friendly transactions and ensuring business transparency. Fils also uses advanced analytics for carbon emission calculations in corporate spending, offering a clear view of environmental impact. This approach exemplifies Fils’ efficient method to incorporate climate action into business models, contributing to a sustainable future in finance and positioning Fils as a foundational force in building a global community of sustainability-minded businesses.

“We are incredibly proud that Fils’ efforts and achievements in integrating climate action into business models have been recognized and used as a case study in this report.” said Nameer Khan, CEO of Fils. “Since our inception, we have been instrumental in assisting financial institutions to effectively incorporate climate action into their operations. This report not only showcases our technology through our real world case studies but also amplifies our reach, giving us a larger platform to inform others about what we do and expand into new regions. It’s a testament to our continued commitment to sustainability and the growing impact of our solutions on a global scale,” he added.

PwC Middle East’s report talks about the emergence of tokenization, its role in enhancing financial services, how tokenized carbon credits are creating game changing opportunities by building a more transparent, efficient and accessible market for carbon credits, in turn driving growth and therefore supporting the goals of the Paris Agreement to drop emissions by 45% by 2030.

Commenting on the report, Serena Sebastiani, Virtual Assets Consulting Leader at PwC Middle East said, “This report underscores the critical role of informed partnerships in advancing climate action.”

She added, “By merging insights from Fils’ application of technology with our strategic overview, the report aims to educate financial institutions about the benefits of tokenisation applied to carbon credits, driving a shift towards how the world of finance can play a big role in saving our planet, one token at a time. “

Fils has established strategic partnerships with significant financial institutions in the region, including Magnati in the UAE, Geidea in KSA, and Mashreq Bank, enabling millions of merchants worldwide to reduce their environmental impact. 

Is Qatar warming up to crypto and its compliance?

Is Qatar warming up to crypto and its compliance?

In a recent development, Crystal Intelligence, a company which works and develops tools for blockchain and crypto investigation and AML (Anti Money Laundering) compliance, held a two-day workshop in Qatar with the Qatar Financial Authority (QFC).

The workshop centered on discovering effective strategies for law enforcement in seizing cryptocurrencies, featuring insights from Federico Paesano, Investigation Lead at Crystal Intelligence.

The Blockchain Crypto Compliance and Investigation Training Program by QFC and Crystal Intelligence provided attendees with a solid foundation in blockchain technology and cryptocurrencies, emphasizing practical knowledge and compliance.

It also shed light on key stakeholders while sharing cryptocurrency’s use cases and functions relative to the traditional financial system.

This would look like an interesting development given that previously Qatar Central Bank had considered the trading of crypto as illegal.

While Qatar has warmed up towards blockchain and the utilization of digital assets in the tokenization realm, it seems that today it has started to seek to learn how to navigate the cryptocurrency realm. QFC is also preparing for its digital assets Hackathon.

 Crystal Intelligence states on its website that it works with Government agencies, supervisory bodies, law enforcement and investigators use our powerful technology, visualization tools and trusted intelligence to boost blockchain investigations and trace criminals.

It also works with traditional banks, asset management firms, insurance companies, crypto exchanges and other types of financial services to ensure that their systems and technology meets AML/CTF obligations.

UAE regulated Hextrust crypto custodian granted new license for crypto brokerage from VARA

UAE regulated Hextrust crypto custodian granted new license for crypto brokerage from VARA

HexTrust, a digital asset custodian, under the UAE entity name of HT Market MENA, has been granted a VASP license from Dubai’s Virtual Asset Regulatory Authority (VARA) that will allow it to offer crypto brokerage services allowing it to serve both institutional and retail clients, pending that all requirements are fulfilled.

This is the second VASP license that HexTrust receives from VARA. It was previously awarded a crypto custodial license back in November 2023.

Hex Trust’s Dubai office was established in June 2022, and is led by Regional MENA Director, Filippo Buzzi.

On receiving the first license for digital asset custody services Buzzi stated, “It is exciting for us to become one of the first virtual asset companies to receive this operating license in Dubai,” said Filippo Buzzi, Hex Trust’s Regional Director MENA. “Hex Trust is fully committed to expanding into the Middle East and sees enormous potential for digital asset growth given the progressive regulations, welcoming governments, and thriving crypto ecosystem in the region.”

With this license Hex Trust will not only be able to hold crypto for its clients but also allow trading.

To date Dubai’s VARA has awarded 18 VASP licenses with the latest being Binance and WadzPay.

Moreover, there are more licenses on the way with Liminal Custody Solutions Dubai entity, “First Answer Custody FZE”, both providers of digital asset custody and wallet solutions, securing an initial approval from Dubai’s virtual asset regulatory authority (VARA).

Prior to that NorthStake a firm which offers safe, compliant and secure investment in Digital Assets for institutional investors as well as crypto staking and trading services applied and received a preliminary approval for a license from Dubai’s virtual asset regulatory authority (VARA) for a license.

crypto companies to have streamlined regulatory process in UAE

crypto companies to have streamlined regulatory process in UAE

Nucleus AI (https://besocial.ai), offering advanced artificial intelligence solutions, has partnered with the Dubai Blockchain Center (https://blockchaincenter.ae) to revolutionize how blockchain and crypto companies establish operations in Dubai by streamlining the regulatory processes.

“We are at the cusp of a transformative era where blockchain and artificial intelligence converge to create unprecedented opportunities,” said Dr. Marwan Alzarouni, CEO of Dubai Blockchain Center. “This collaboration marks a significant milestone in harnessing the synergies of these revolutionary technologies to foster an ecosystem that empowers businesses and drives innovation within Area 2071, Dubai, the UAE and beyond.”

At the core of this initiative lies Nucleus AI’s advanced AI platform, which enables enterprises, SMEs, and government entities to transform their existing knowledge bases into intelligent systems capable of understanding and acting upon complex data relationships.

“Our platform allows enterprises to deploy sophisticated AI-driven processes that operate across multiple tiers, drastically improving efficiency and effectiveness,” stated Raakin Iqbal, CEO and Co-founder of Nucleus AI. “We’re fundamentally enhancing how organizations manage and utilize their knowledge assets.”

“Our Pre-AGI technology doesn’t just automate – it innovates, making each regulatory interaction smarter and more effective,” Iqbal explained. “We’re pushing the boundaries of what AI can achieve in streamlining operational landscapes.”

The partnership will enable an AI-driven proof-of-concept that guides blockchain and crypto companies through the entire regulatory journey – from initial inquiry to final licensing – with unprecedented efficiency. Key capabilities include:

– Intelligent Reasoning: Applying complex logic to understand nuanced regulations and processes.

– Dynamic Knowledge Bases: Continuously updated to ensure adherence to the latest policies.

– Autonomous Action Models: Leveraging datasets and reasoning to autonomously navigate processes while ensuring compliance.

– Multilingual Support: Facilitating global adoption with AI-powered support across 25+ languages.

At the core of this initiative is an AI-powered interface that combines conversational AI with action-driven modeling to shepherd companies through every step, from initial inquiry to final licensing. “Nucleus AI’s platform ingests complex knowledge bases and autonomously executes actions based on logical inferencing – making it ideal for streamlining this intricate regulatory journey,” stated Kiran Ali, Co-founder.

“Our partnership with the Dubai Blockchain Center showcases how advanced AI can revolutionize regulatory frameworks through reasoning and autonomous execution,” Iqbal said. “We’re developing systems that deeply understand operational nuances to radically simplify business establishment.”

The Dubai Blockchain Center’s visionary leadership echoes this innovative spirit: “In our pursuit to position Dubai as a beacon for the blockchain sector, we aim to create an environment conducive to growth,” Dr. Alzarouni stated. “Our initiatives make it seamless for blockchain and crypto companies to operate here, fostering an ecosystem where innovation thrives.”

Saudi Web3 gaming platform built on Hedera Blockchain raises $1 million

Saudi Web3 gaming platform built on Hedera Blockchain raises $1 million

Saudi Arabian Web3 Role-playing Gaming platform AstraNova incubated by The Hashgraph Association has raised $1 million in investment from lead investors that include , Oxbull, MoonEdge, Vision, Kanga, Spicy Capital, Equinox, BTS Labs, Sensei Capital and various MENA Investors from KSA, Dubai & Oman. The Hashgraph Association has provided a $100,000 grant to AstraNova through its innovation program designed to promote the development on the Hedera platform.

Co-Founder and CEO of Astra Nova, Fiazy Ahmed noted, “We are dedicated to forging an extraordinary IP and championing the gaming community of our region, in harmony with Saudi’s Vision 2030. Astra Nova is committed to emboldening Saudi gamers, catalyzing innovation, and propelling the Kingdom’s entertainment industry onto the world stage.”

AstraNova is built on the Hedera DLT platform as well as Unreal Engine 5. Incubated by both The Hashgraph Association and Gotbit, it is eyeing to position itself as the flagship game in the GCC region.

AstraNova has partnered with leading entities including the HBAR Foundation, Crpyto.com, FunToken, BTS Global, Nvidia, Microsoft Founder’s Hub, Wemix, Immutable, Aethir, Portal Coin, Blade Wallet, Kairon Labs, Tillo, and Polygon DAO.

The Astra Nova team consists of several gaming and crypto veterans with notable experience in game development, award-winning creatives, and leaders in brand marketing from companies like Ubisoft, Technicolor, Rockstar, Netflix, Hedera, and more.

Advisors from Binance, Hedera, Venture Capitals, and other prominent web3 firms support the project.

The prototype demo will be available for desktop, already accessible on the Steam Store for wishlisting, and primed for further distribution across platforms like the Epic Games Store. Their roadmap includes expansions onto consoles such as PlayStation and Xbox, while a mobile iteration is on the horizon through our strategic cloud gaming partnership with Aethir.

As per the press release AstraNova is also working on a Loyalty SocialFi Platform called ‘The Black Pass.’ a points farming platform with a competitive edge.

The birth of a $1 billion blockchain from the merger of Klaytn and UAE Finschia

The birth of a $1 billion blockchain from the merger of Klaytn and UAE Finschia

Two blockchain platforms, Klaytn backed by Kakao, and UAE based Finschia backed by Naver an affiliate UAE based LINE Tech Plus have merged to create a new unified blockchain platform Kaia, which means “and” in Greek, with a market capitalization of $1 billion.

Both entities seek to have the biggest Web3 ecosystem in Asia through this merge.

Kaia, the unified blockchain ecosystem, will be launched by the end of June, according to the press release.

In January of 2024, the two blockchain’s announced their intent to merge and sought necessary approvals which were accepted.

“Several parallel tasks for the integration are proceeding smoothly,” Seo Sang-min, chairman of Klaytn Foundation, said at the press conference. “The mainnet will be launched at the end of June, introducing the integrated token and governance system.”

“We are committed to positioning ourselves as a leading blockchain mainnet in the Asian market by collaborating with partners, including LINE Next,” Seo said.

UAE based Finschia Foundation is an independent non-profit organization, based in Abu Dhabi. As per the press release, following the integration of their blockchain ecosystems, a unified foundation will be established in Abu Dhabi, UAE, in June 2024.

Next on the agenda is to communicate with crypto exchanges, where coins from both foundations are listed, to update their listings to Kaia. Integration of both platform’s communities and social channels will also take place.

If successfully integrated, this merger will lead to the creation of a domestic virtual asset project with a market capitalization valued at 1.4 trillion won or $1 billion.

“Our goal to establish a no.1 blockchain in Asia following this merger remains unchanged,” Kim Woo-seok, director of Finschia Foundation, said. “We aim to create technological synergy rather than merely integrating two networks into one.”

“Integrations between large-scale chains are rare, so our project attracts considerable international attention. Our teams are diligently working to make this a successful example,” Seo said.

In December 2023, UAE based Finschia Foundation, NEOPIN, DeFi multichain platform partnered to provide decentralized exchange services. Under the agreement Finschia and NEOPIN would collaborate to develop the Finschia Network Swap (hereinafter referred to as FNSwap). NEOPIN is currently developing FNSwap, which will be the first Automated Market Maker (AMM) Decentralized Exchange in the Finschia ecosystem.