Circle Internet Group, Inc., a global digital financial technology firm, and the issuer of the USDC stablecoin has incorporates its entity in the ADGM, as part of its strategic expansion into the Middle East and Africa.

As per the announcement, Circle has also entered into a partnership with LuLu Financial Holdings (‘LuLuFin’), and its affiliates, one of the largest financial services conglomerates in the region, to facilitate remittances and cross-border payments with USDC, Circle’s fully-reserved digital dollar.

Circle’s mission centers on enhancing financial inclusion and accessibility by deploying a stablecoin infrastructure that addresses gaps in financial services while complementing existing payment systems, particularly in high-traffic remittance corridors such as those traversing the Middle East. The partnership with LuluFin exemplifies this vision, deploying USDC as a robust platform to enable near-instant payments that enhance operational efficiency and reduce transaction costs.

LuLuFin operates across the Gulf Cooperation Council (GCC), Indian sub-continent and APAC region, managing over $10 billion in annual transactions. Through this partnership, LuluFin will optimize remittances and cross-border payment flows using USDC, initially targeting corridors between the Middle East and Asia, as well as Europe. By leveraging USDC, LuLuFin will benefit from increased liquidity and reduced volatility, while harnessing the speed, immutability, and traceability of blockchain technology.

“This partnership with LuLuFin marks a significant step forward in the evolution of cross-border payments within one of the world’s most dynamic remittance corridors,” said Jeremy Allaire, Co-founder and CEO of Circle, from the sidelines of Abu Dhabi Finance Week. “By incorporating in the ADGM and collaborating with industry leaders like LuLuFin, we strengthen our commitment to advancing the digital asset economy in the region. Together, we are driving innovative solutions and enhancing access to efficient digital financial offerings.”

“Our partnership with Circle reflects our unwavering commitment to innovation. At LuLu Financial Holdings, we have harnessed the transformative power of blockchain technology, enabling better, faster, and more seamless cross-border payment experiences for our customers. This collaboration with Circle marks another significant step forward in that journey, reinforcing our resolve to redefine remittance experiences with cutting-edge solutions,” said Adeeb Ahamed, Managing Director of LuLu Financial Holdings.

“We are proud to welcome Circle, the preeminent global stablecoin issuer, to one of the largest financial districts in the world — ADGM,” added Arvind Ramamurthy, Chief of Market Development at ADGM. “Circle’s products represent a powerful platform for intelligent financial services, and, alongside ADGM’s robust ecosystem, are positioned to unlock a myriad of opportunities for technological innovation and next-generation financial applications in the region. Their contribution will further strengthen ADGM’s position as a global financial powerhouse.”

“The Middle East is a crucial frontier for Circle’s mission of raising global economic prosperity through the frictionless exchange of value,” said Miriam Kiwan, VP, MEA at Circle. “By collaborating with impactful partners like LuluFin, we aim to transform how cross-border payments are conducted, ultimately delivering substantial benefits to individuals and businesses throughout the region.”

This comes just after the announcement that AE Coin has been issued the first stablecoin license in the UAE by the Central Bank of the UAE.

Tether also intends to issue its AED stablecoin in the UAE at the onset of 2025.

Crypto.com has acquired Orion Principals Limited, a brokerage company licensed by the Abu Dhabi Global Market (ADGM) in the UAE. As per the press release, the move is part of the company’s strategic plan to integrate traditional financial services into its platform, a step that will soon allow users to access securities (e.g. stocks), options, futures, contracts for difference (CFDs), and more.

Orion’s ADGM license enables Crypto.com to expand its offerings while maintaining compliance with one of the most respected regulatory frameworks for digital assets. With this acquisition, Crypto.com continues to grow its presence in the UAE, solidifying its reputation as a global innovator in digital finance.

“We have a clear path set out in our product roadmap for 2025—to offer our users the most comprehensive platform for a broad range of financial investment services. We are continually growing our presence in the UAE, which has one of the strongest regulatory frameworks for the digital assets industry globally and we appreciate ADGM’s commitment to supporting innovation in our sector.”
stated, Kris Marszalek, CEO of Crypto.com


For Crypto.com’s users, this move signals access to a more diverse range of investment opportunities. The integration of traditional financial instruments will allow traders to diversify their portfolios, managing both digital and conventional assets from a single platform. This blending of markets aligns with the growing demand for seamless cross-asset trading experiences and positions Crypto.com as a leader in unified financial services.

Crypto.com also recently gained a crypto payment services license in Bahrain and partnered with MasterCard to issue crypto cards in Bahrain.

BitOasis, the first local UAE crypto broker has finally received its full Virtual Asset Service provider license from VARA ( Dubai Virtual Asset Regulatory Authority). As per the VARA website BitOasis can now offer crypto broker services servicing both retail and institutional clients.

In June 2024 crypto broker received its first license in the GCC and MENA region from Bahrain. The Category 2 license allows BitOasis to offer crypto asset services from the Central Bank of Bahrain. Prior to the crypto broker receiving its license in Bahrain, CoinMENA, RAIN, ARP Digital and Binance had already received licenses.

ARP Digital, CoinMENA and Rain all hold a category 3 license, while only Binance holds a category 4 license. As such BitOasis will be the only category 2 license in Bahrain so far.

The company said in a blog post it will seamlessly transition to operating under its new license with immediate effect. It noted, “Securing the full VASP License marks the final step in VARA’s licensing process for the platform’s current activities, and represents a major milestone in BitOasis’ journey, opening a new chapter in the company’s work with VARA, the world’s first dedicated virtual assets regulator.”

As a homegrown industry pioneer, BitOasis was among the first platforms to secure a provisional operating permit from VARA shortly after the regulator’s launch in 2022.

Ola Doudin, Co-Founder and CEO of BitOasis, said, “This is a very significant moment for BitOasis and the broader virtual assets community in the region. Securing the full VASP License is not only a testament to our team’s dedication to regulatory compliance but also reinforces our resolve to lead the industry with integrity and accountability. We are grateful to VARA for their guidance and support throughout this process. We are excited to continue our growth and further enhance our products to meet the rapidly evolving needs of our clients.”

The Financial Services Regulatory Authority (FSRA) of ADGM has published Consultation Paper No. 11 of 2024 setting out proposed amendments to its regulatory framework for Authorized Persons conducting Regulated Activities involving Virtual Assets in ADGM and to seek feedback on potential changes to that framework.

The proposed amendments include revisions to the process by which Virtual Assets are accepted for use within ADGM and refinements to capital requirements and fees. The paper also seeks feedback on several questions, including questions relating to staking and other emerging business models involving Virtual Assets.

One of the proposed amendments is that now the scope of the Regulated Activity of Providing Custody under FSMR currently
encompasses Financial Instruments, VAs and Spot Commodities. As outlined above, all VAs held in custody must be AVAs. The FSRA is asking for feedback on whether authorized persons can engage in providing custody to other than AVAs and hold a broader range of digital assets. They are also asking what other digital assets could be held.

    Feedback is also sought on the criteria to be applied in determining whether non-ADGM issued Fiat-Referenced Tokens should be accepted within ADGM. The paper also proposes to expand the scope of investments in which Venture Capital Funds may invest.

    As per the consultation the FSRA does not intend to restrict acceptance to FRTs issued only by issuers located in ADGM (“Domestic FRTs”). However, the FSRA notes that FRTs issued by issuers outside ADGM (“Foreign FRTs”) may not be subject to standards as
    stringent as those applied to Domestic FRTs. Given this, Foreign FRTs approved as Accepted FRTs for use within ADGM will be
    categorised as such to distinguish them from Domestic FRTs, which are subject to FSRA standards.

    The consultation adds, all Authorized Persons that use Foreign FRTs in conducting Regulated Activities will have to disclose to their Clients that such Accepted FRTs are not subject to the FSRA’s requirements for issuers of Domestic FRTs.

      The consultation period will close on 31 January 2025.

      The new consultation paper came out on the same day that ADGM issued its fiat-referenced-tokens framework, better known as its stablecoin regulations.

      The new framework expands the suite of digital assets already offered by ADGM regulatory authority.
      As per the press release, the framework introduces several key components that establish robust standards for FRT issuers to ensure financial stability and investor protection such as reserve assets, governance and integrity, transparent disclosure, prudential safeguards and redemption rights.


      The framework makes FRT issuance a distinct Regulated Activity within ADGM’s comprehensive financial services regulatory regime. It has been designed to be risk-proportionate while ensuring FRT issuers operate in a safe and prudent manner.


      Emmanuel Givanakis, CEO of the ADGM FSRA stated, “Our FRT framework is a significant milestone in ADGM’s evolution as a progressive international financial centre. Through extensive consultation with industry stakeholders, we have created a regime that balances innovation with strong regulatory oversight. This framework provides the regulatory certainty that industry participants need while maintaining high standards of financial stability and investor protection. We believe this positions ADGM as a premier jurisdiction for responsible FRT issuance and shows our commitment to fostering responsible innovation in financial services.”

      As per the framework, an Accepted Fiat Referenced Token means a Fiat-Referenced Token that, in the opinion of the Regulator, meets the requirements that permit a regulated activity to be carried on in relation to it.
      The FSRA defined a Fiat-Referenced Token as a digital asset, the transfer and storage of which is achieved through the use of distributed ledger or similar technology, which can be used as a medium of exchange with a stable store of value, by referencing a fixed amount of a single fiat currency; and enabling the holder to redeem the token in exchange for the amount of the fiat currency referred to from its issuer upon demand.
      The fiat referenced token can be used for remittance payments, and payment transactions, including transfers, payments for services, direct debits, credit transfers between bank accounts, including standing order, and others.

      The Egyptian Food Bank, and Mahaseel Technologies, a leader in agri-tech innovation, have partnered to launched a blockchain enabled digital traceability platform, to revolutionize food security and supply chain transparency in Egypt.

      The new traceability solution enables the Egyptian Food Bank (EFB) to monitor its food sources comprehensively, whether fresh produce from farms or goods from manufacturers and suppliers. Each food carton distributed by EFB will now be identified with a unique QR code that traces every product in the box back to its original source. This system ensures unprecedented transparency, accountability, and quality control in EFB’s operations, safeguarding the organization’s mission of feeding those in need with integrity and efficiency.

      The blockchain-enabled platform provides a secure, immutable digital record of the journey each product takes from its source to the hands of beneficiaries. By scanning the QR code, EFB and its stakeholders can access real-time information on the origin, production, and distribution of food items. This enhanced visibility supports operational excellence while reinforcing donor confidence in the organization’s processes.

      “Partnering with the Egyptian Food Bank for this traceability platform strategically aligns with our mission to leverage technology to create meaningful, scalable impact in the agricultural and food sectors,” said Eng. Mohamed Abdel Rahman, CEO of Mahaseel. “By integrating blockchain technology, we aim to set new benchmarks in transparency and traceability for the food sector worldwide. Our product line – Trace by Mahaseel – is designed to empower governmental and non-governmental entities to harness the benefits of digital transformation in food security, providing them with the tools to make informed decisions backed by real-time data and unparalleled transparency throughout the supply chain.”

      The new platform ensures that food donations are optimally managed, with end-to-end traceability helping to prevent waste, ensure quality, and improve resource allocation.

      Mr. Mohsen Sarhan, CEO of the Egyptian Food Bank, stated “We are pleased to collaborate with Mahaseel, a leader in the field of digital transformation in the agricultural sector, to improve the efficiency of our food supply chain by implementing advanced digital technologies in a tracking platform powered by Block-Chain technology. These innovative solution will assist in correctly tracking every food product from the next stage of agriculture and delivering items to beneficiaries across the country, guaranteeing effective and tight control over operations inside the Egyptian Food Bank Foundation.”

      The traceability system’s efficiency and scalability, with plans for full implementation across all Egyptian Food Bank operations upon completion.

      Prosper, a decentralized protocol offering institutional-grade Bitcoin mining power on-chain, has announced that it is the official Hashrate Sponsor for Bitcoin MENA 2024. The highly anticipated conference will take place on December 9-10, 2024, at the iconic Abu Dhabi National Exhibition Centre (ADNEC), bringing together industry experts and key players from the global Bitcoin ecosystem and the wider crypto industry.

      As the official Hashrate Sponsor, Prosper will feature prominently at the event and host an interactive booth where attendees can engage directly with its team and explore how Prosper is setting the standard for institutional-grade Bitcoin mining power on-chain, further unlocking Bitcoin’s full potential as the most decentralized cryptocurrency.

      “As one of the most innovative community-focused projects under Animoca Brands, we are excited to showcase our unique offering at this year’s Bitcoin MENA event which aligns perfectly with our mission to democratize access to Bitcoin and its mining power,” said Milton Lam, Advisory Council Member & Launch Partner, Prosper. “Our participation underscores our leadership in institutional-grade Bitcoin mining innovation, advancing the possibilities of the world’s original and most decentralized cryptocurrency.”

      Bitcoin MENA 2024 will bring together global leaders and influential voices, including Eric Trump, Prince Filip of Serbia and Saifedean Ammous, to shape the conversation on Bitcoin’s future.

      Eric Trump, Executive Vice President of the Trump Organization, will deliver a keynote address at Bitcoin MENA 2024, marking a significant milestone for the event. His participation brings a wealth of business acumen and leadership experience to discussions on Bitcoin’s growing adoption in the Middle East. Following Donald J. Trump’s appearance at Bitcoin 2024 in Nashville this July, the Trump family’s growing support for Bitcoin as a solution to combat inflation in the U.S. underscores the event’s importance.

      Other notable attendees include Prince Filip of Serbia, Saifedean Ammous, author of The Bitcoin Standard and Abdulla Al Dhaheri of the Blockchain Centre Abu Dhabi. Their involvement highlights Bitcoin MENA’s influence and Abu Dhabi’s emerging role as a central hub in the global Bitcoin economy.

      Iran’s Minister of Economic Affairs and Finance Abdolnaser Hemmati has announced at an event on digital currencies in Tehran that the government intends to regulate digital currencies and cryptocurrencies instead of putting limitations on them, as the Central Bank of Iran announced the regulation of crypto exchanges and crypto custodians under its new crypto framework.

      Hemmati said that Iran is moving towards regulating and eliminating the adverse effects of digital currency on the economy and instead using its positive effects. He cited the advantages and progress of digital currency as the reasons behind the decision.

      While Hemmati noted that digital money, including digital currencies is within the scope of the Central Bank of Iran, he believes that developing and growth this asset sector will bring on youth employment, as well as to help nullify the effect of sanctions.

      At the same event, The Central Bank of Iran (CBI) recently approved a “Policy and Regulatory Framework for Cryptocurrencies”, reaffirming its role as the primary regulator. The framework emphasizes licensing crypto brokers and custodians under CBI supervision while ensuring compliance with anti-money laundering (AML) laws, counter-terrorism financing (CTF) regulations, and tax obligations.

      The Central Bank of Iran Governor Mohammadreza Farzin highlighted collaboration with other agencies, such as the Ministry of Economic Affairs and Finance, to develop robust regulatory mechanisms for the digital asset ecosystem.

      According to the official, the mentioned framework focuses on active regulation and leveraging digital currencies’ economic potential.

      In 2018, Iran banned trading and possession of cryptocurrency due to money laundering and terrorism financing concerns. [1] All Iranian financial institutions, such as banks, credit institutions, and currency exchanges, were banned from handling cryptocurrencies or promoting them in any way. [2] In 2019, however, the government began to roll back this ban as sanctions were crippling their local currency. Cryptocurrency was seen as a possible relief from reliance on the United States dollar. [3] The Central Bank of Iran’s new regulations allow for the possession and mining of cryptocurrency but still included a ban on using digital currency as a payment system. [4] Further, “it bars Iranians from holding large amounts of global cryptocurrencies in the same way they are officially prohibited from holding more than 10,000 euros.” [5] Towards the end of 2020, the Iranian government once again began exploring the possibility of reimplementing more controls on cryptocurrency as the price of Bitcoin was soaring, and the Iranian stock market and currency were severely falling. [6] The only change that has happened to the regulations so far is more restrictions on cryptocurrency miners due to heavy energy usage. [7]

      The future is powered by AI, and the Global AI Show is your gateway to exploring its limitless potential! Taking place in Dubai on December 12-13, 2024, this AI conference invites you to meet the top 1% in AI and engage with the brightest minds shaping the future.

      Join 3,000+ C-Suite, as well as 200+ startups and 75+ speakers from across the globe, at UAE’s #1 AI event for CXOs. Together, we’ll dive into the most transformative AI applications across various industries:

      • Healthcare: Learn how AI is revolutionizing medical diagnosis, treatment, and personalized care.
      • Customer Experience: Discover AI-powered solutions to enhance interactions and customer satisfaction.
      • Fintech: Explore cutting-edge AI technologies driving the future of banking, payments, and risk management.
      • Cybersecurity: Strengthen defenses against evolving cyber threats with AI-driven innovations.
      • Supply Chain & Logistics: Understand how AI optimizes processes, reduces costs, and improves supply chain efficiency.
      • Intelligent Data & Analytics: Unlock actionable insights with AI-driven data analysis and decision-making tools.
      • AI in 2057 – Future Frontiers: Explore the new frontiers of AI, pushing the boundaries of innovation and shaping the world of tomorrow.

      Event Highlights:

      • Meet the Top 1% in AI: Gain valuable insights from 90+ hours of 100% CXO keynotes and 75 headline hacks delivered by AI experts.
      • Roadmap Your Intelligent Future: Connect with sovereign wealth funds, family offices, and investors shaping the AI landscape.
      • UAE’s Vision for AI Excellence: Get an exclusive look at Dubai’s AI blueprint and explore the investment opportunities revealed at AI 2057.
      • Networking Opportunities: Engage with 3000+ stakeholders and be part of a global community of 110k+ AI professionals.

      Featured Speakers:

      • H.E. Dr. Mohammed Al Kuwaiti, Head of Cybersecurity Council, UAE Government
      • Lt. Col. Dr. Essa Almutawa, Chief Artificial Intelligence Officer, Dubai Civil Defense
      • Hoda Al Khazaimi, Co-Chair, Global Future Council, World Economic Forum
      • Saqr Alhemeiri, Chief Innovation Officer, Ministry of Health and Prevention – UAE
      • Mohamed El Sabbagh, CTO, Abu Dhabi Chamber of Commerce & Industry
      • Veneeth Purushothaman, Group CIO, Aster DM Healthcare
      • Anshu Raja Sharma, Chief Transformation Technology Operations Officer, Standard Chartered
      • Dinesh Dua, Chief Customer Experience Officer, Sobha Realty
      • Dongjun Choi, Chief Customer Officer, RAKBANK
      • Dr. Dirk Jungnickel, SVP Enterprise & Analytics & Intelligence, Emirates Group

      To view the full list of speakers, Click Here.

      Who Should Attend?
      Whether you’re a CXO, researcher, entrepreneur, or AI enthusiast, the Global AI Show is designed to equip you with the knowledge and connections needed to meet the future head-on. This is where tomorrow happens today.

      Don’t miss this groundbreaking event! Book your tickets now at Global AI Show Tickets and secure your spot at the forefront of AI innovation.

      For any further information, feel free to contact us at contact@globalaishow.com.

      Join the Global Blockchain Show: The Ultimate Blockchain Season Finale!

      Welcome to the Global Blockchain Show, the Web3 Founders’ Festival set to unite industry leaders, developers, and blockchain enthusiasts from around the world. Taking place in the vibrant city of Dubai on 12-13 December 2024, this event will immerse you in the future of blockchain with 16 hours of unplugged networking, discussions, and collaboration with Web3’s top 1%.

      This year’s show is more than just a conference – it’s a festival including the best minds in Web3. With 3000+ Web3 Founders, 75+ industry icons, 200+ startups, and 100+ of the most sought-after investors, you’ll be part of something truly exceptional.

      Our agenda covers a wide range of trending topics across various verticals, including:

      • Web3 Gaming: Explore the future of gaming in the decentralized web.
      • Digital Currency: Understand the evolving landscape of digital financial systems.
      • Blockchain Regulations: Gain insights into the regulatory frameworks shaping the blockchain industry.
      • Crypto Mining & Trading: Learn from experts about the latest strategies and technologies in cryptocurrency mining and trading.
      • Web3 Security: Discover cutting-edge security measures to protect decentralized applications and platforms.
      • Integration of AI & Blockchain: Examine how artificial intelligence and blockchain are converging to create innovative solutions.
      • Crypto Collectibles: Dive into the world of NFTs and other digital collectibles.

      The Global Blockchain Show provides an unparalleled opportunity to network in an unhinged, informal setting with top professionals from sectors such as startups, corporations, solution providers, and investors.

      Event Highlights:

      • Meet the top 1% in Web3 during a 16-hour mixer
      • 200+ of the top 1% Web3 Startups showcasing their innovations
      • 100+ of the most influential Web3 investors ready to connect, and with buying intent

      Top Speakers Include:

      • Yat Siu: Co-Founder and Chairman, Animoca Brands
      • Rachel Conlan: Global Chief Marketing Officer, Binance
      • H.E. Justin Sun: Founder of TRON, Member of the HTX Global Advisory Board
      • Marcello Mari: CEO & Founder of SingularityDAO
      • Alicia Kao: Managing Director, Kucoin
      • David Palmer: Chief Product Officer, Co-founder, Vodafone
      • Vivien Lin: Head of BingX Labs, BingX
      • Jason Allegrante: Chief Legal & Compliance Officer, Fireblocks
      • Dr. Sameer Al Ansari: CEO, RAK DAO
      • Pierre Samaties: Chief Business Officer, DFINITY
      • Alex Fazel: Chief Partnership Officer, Swissborg

      To View the Full List of Speakers – Click Here

      Who Should Attend? 

      Whether you’re an entrepreneur, investor, developer, researcher, or simply passionate about Web3, this event is for you. If you’re looking to explore opportunities, gain cutting-edge insights, or connect with like-minded individuals shaping the future of blockchain, the Global Blockchain Show in Dubai is the place to be.

      Don’t miss the chance to be part of this revolutionary event.

      For more information and to secure your ticket, visit: https://www.globalblockchainshow.com/tickets/

      The House of Emirates, a UK based collector entity, specializing in ethereal jewellery, eternal treasures, splendid art, rare coins, and royal gifts has announced that it has tokenized for the first UAE Dirham tender coin minted in 1973.

      As per the X post, ” House of Emirates is so thrilled to offer its elite clientele the FIRST EVER tokenized first UAE legal tender coin ( Dirham ) minted in 1973. This exceptional coin of a great historical significance was the first ever currency for the newly formed country. This historical decision to issue a united currency was ordained by the visionary founder of the UAE, HH Sheikh Zayed Ben Sultan Alnahyan. Now you can own this magnificent coin physically and on the blockchain at the same time.”

      The coin was tokenized on the Galileo Protocol. Galileo is developing the world’s first platform and ecosystem for the tokenization and redemption of physical assets. Tokenization involves representing real-world assets as digital tokens on a blockchain, enabling secure and transparent exchange and transfer.

      Using blockchain, Galileo’s platform offers solutions for tokenizing physical assets such as real estate, artwork, collectible cars, precious metals, and more. It allows asset owners to convert these assets into tokens, making it easier to divide them into fractions, trade them, and increase their liquidity.

      Galileo’s ecosystem also includes asset custody infrastructure, ensuring the secure storage of the underlying physical assets. Owners can store their assets in certified and audited vaults, benefiting from a secure and regulated storage solution.