Lara

Total Post: 1427

Web3 game, MetaSpace secures license in RAK Digital Assets Oasis

Web3 game, MetaSpace secures license in RAK Digital Assets Oasis

MetaSpace, an immersive Web3 Play-to-Earn (P2E) game built on Polygon Blockchain, has secured a business license from RAK Digital Assets Oasis (RAK DAO) as a Gaming Studio and Metaverse Service Provider.

As per the press release, the achievement marks a significant milestone in the project’s journey and underscores its dedication to creating a secure, compliant, and globally scalable gaming ecosystem.

MetaSpace offers a dynamic, open-world gaming experience driven by a decentralized, token-based economy. Players can earn, trade, and own in-game assets, including customizable avatars, rare digital collectibles, and NFTs that enhance gameplay and progression. The game blends action, strategy, and exploration to create a deeply engaging universe, empowering players to compete, collaborate, and craft their own unique experiences.

At the heart of the platform is its decentralized NFT marketplace, where players can freely buy, sell, and trade digital assets. Whether flipping NFTs for profit or staking them for high-yield returns, users actively contribute to the in-game economy. The game’s Play-to-Earn model transforms time spent in the game into real rewards, allowing players to shape and benefit from the game’s evolving economy, turning participation into tangible value.

“Securing the RAK DAO license is a key milestone for MetaSpace,” said Mo Akram, the founder. “It gives us the confidence and framework to grow responsibly and scale our P2E ecosystem across borders.”

Egyptian Founder of stablecoin banking startup, Limited raises $7 million as it sets to expand in MENA

Egyptian Founder of stablecoin banking startup, Limited raises $7 million as it sets to expand in MENA

Egyptian Founder, Hussein Ahmed has raised $7 million in a seed funding round, for his U.S. based fintech startup Limited to expand in areas such as the Middle East. Limited offers stablecoin-based global banking services with self-custody,

The round was led by North Island Ventures, with additional participation from existing backers Third Prime and Arche Capital, as well as new investors Collab+Currency and SevenX Ventures.

This brings the company’s total funding to US$10 million since its founding in 2024.

Founded by Hussein Ahmed, an Egyptian entrepreneur, Limited has developed a banking and payments platform that integrates the security of self-custody stablecoins with the functionality of traditional banking services. Available on iOS, Android, and web, the platform is accessible in 176 countries and enables users, both individuals and businesses, to access global payment systems while retaining full control of their funds via self-custody wallets.

The platform also includes tiered Visa and Mastercard offerings and cross-border payment tools that support over 300 local payment methods in more than 80 currencies.

“With stablecoin transaction volumes exceeding $30 trillion annually and global remittance fees averaging 6.3%, we’ve created a solution that finally resolves the traditional tradeoff between self-custody security and ease of use,” said Ahmed.

“This funding will accelerate our growth in high-opportunity markets across Latin America, Southeast Asia, and the Middle East, where demand for borderless financial services is strongest.”

The company aims to meet the growing demand for more secure, globally accessible financial tools, especially in emerging markets where traditional banking services may fall short. It currently utilizes Circle’s USDC stablecoin and EURC stablecoin.

Travis Scher, Co-Founder and Managing Partner at North Island Ventures, highlighted the potential of Limited’s approach: “We’ve long believed that stablecoins represent one of the most compelling use cases for blockchain technology—providing access to stable currencies and efficient payment rails globally. Limited has built an elegant solution that makes stablecoins practical and accessible for everyday banking and commerce, not just trading. By solving the critical challenge of balancing security with usability, they’ve created a truly differentiated product.”

Circle goes IPO in USA

The announcement comes on the back drop of Circle’s listing on the New York Stock exchange where its shares soared 168% after the stablecoin company and its selling shareholders raised almost $1.1 billion in an initial public offering. “To realize our vision, we needed to forge relationships with governments, we needed to work with policymakers … because if you want this to work for mainstream, it’s got to work in mainstream society and you need to have those rules of the road,” CEO Jeremy Allaire told CNBC’s “Money Movers”. “We’ve been one of the most licensed, regulated, compliant, transparent companies in the entire history of this industry, and that’s served us well.”

Allaire also speaking with Bloomberg noted that stablecoin adoption is moving from pre adoption to mainstream and Circle will offer the internet financial infrastructure for every day payments. He said, ” The Internet is colliding with the financial system and we will partner with leading platforms to offer an ultra safe form of digital cash money that can be transacted at the fraction of cost within seconds.”

While the U.S. awaits the passing of the Genius Act for stablecoin regulation in the country, the UAE already passed its regulation last year, while Qatar has put stablecoins as one of the digital assets in its tokenization strategy.

UAE Fintech group Equiti and Dubai Digital Asset Association partner

UAE Fintech group Equiti and Dubai Digital Asset Association partner

MENA based Equiti Group, a global online trading and fintech innovation with licenses in UAE, UK and Cyprus, has partnered with UAE based D2A2 (Dubai Digital Asset Association), the MENA platform for regulatory discourse on tokenized real-world assets, to create a secure, transparent, and future ready digital asset ecosystem.

The alliance seeks to work to evolve the digital asset regulatory frameworks in the MENA region working with industry leaders, regulators policy makers and other key stakeholders such as the private sector.

“Finance should work for everyone, not just those with legacy access. Partnering with D2A2 gives us the opportunity to engage in meaningful dialogue with fellow industry leaders, share insights, and help shape a more inclusive financial future,” stated Iskandar Najjar, Equiti Group CEO & co-founder. “It’s about building a community where innovation is driven collectively, and access to opportunity is expanded through collaboration.”

Equiti brings deep experience in regulated finance, global market infrastructure and fintech solutions across EMEA. D2A2, meanwhile, is uniquely positioned as a regulatory thought leader, providing a trusted forum for exploring secure digitisation of real-world assets, including property, commodities, and income-generating instruments.

Together, the two organizations will champion collaboration for sustainable tokenized finance in the region. “Our collaboration with Equiti represents a significant step in furthering our commitment to stakeholder engagement and ecosystem development,” added Gaurang Desai, Chairman of D2A2. By fostering constructive dialogue and supporting responsible innovation, we aim to strengthen Dubai’s position as a global hub for digital assets.”

The Equiti-D2A2 partnership will focus on four core pillars, driving industry-regulator dialogue to foster balanced growth of the digital asset sector, contributing to policy clarity on tokenization, custody, and cross-border innovation, elevating financial literacy on blockchain and real-world asset tokenization and bridging TradFi and DeFi through infrastructure that unites security with agility.

Ctrl Alt tokenization platform gets licensed in UAE

Ctrl Alt tokenization platform gets licensed in UAE

Ctrl Alt, a tokenization infrastructure platform, has secured a Virtual asset broker dealer license as well as issuer license from Dubai’s Virtual Assets Regulatory Authority (VARA). As of May 1, 2025, Ctrl Alt has tokenized over $295 million in assets, spanning real estate, private credit, funds, litigation finance and more.

As per the press release Ctrl Alt is the first VASP authorized to conduct issuer-related services. This milestone marks a significant step in Ctrl Alt’s global expansion and highlights its commitment to operating within robust regulatory frameworks. The virtual asset issuer license allows Ctrl Alt to operate a full-stack, regulatory-compliant platform for the creation, management and distribution of tokenized real-world assets and ARVA tokens.

ARVA tokens are defined under Dubai law as representing direct or indirect ownership of real-world assets, granting entitlement to receive or share income and purporting to maintain a stable value by reference to real-world assets or income. ARVA tokens are also backed or collateralized by such real-world assets or constitute a derivative, wrapped, duplicated, or fractionalized version of another ARVA.

Ctrl Alt recently demonstrated its solution with its partnership with Dubai Land Department for their real estate tokenization project. Ctrl Alt created the framework to mint and place real estate tokens on-chain. PRYPCO Mint, the first licensed real estate tokenization platform, in partnership with Dubai Land Department, Dubai’s Regulatory Authority, and powered by Ctrl Alt blockchain, issued the region’s first property token ownership certificate. The fully funded property attracted 224 investors from over 40 nationalities, with an average investment amount of AED 10,714, underscoring the platform’s wide appeal and the growing appetite for accessible, tech-enabled real estate opportunities in the region.

“We are proud to receive our VARA license and establish fully regulated operations in the UAE,” said Matt Ong, Founder and CEO at Ctrl Alt. “This achievement reflects our commitment to long-term regulatory alignment as we power the infrastructure for the next generation of financial products.”

“Securing our VARA license marks a pivotal moment not just for Ctrl Alt, but for the broader digital asset ecosystem in the region,” said Robert Farquhar, Head of MENA at Ctrl Alt. “Dubai’s progressive regulatory environment provides a strong foundation for innovation in tokenization and we’re proud to contribute to that vision by delivering secure, compliant tokenization infrastructure for real-world asset issuance.”

Saudi Arabia Pilots tokenization with DroppRWA and RAFAL Real estate

Saudi Arabia Pilots tokenization with DroppRWA and RAFAL Real estate

DroppRWA, a sister company of Web3 technology provider DroppGroup, has 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.

The pilot built on blockchain and AI systems will allow Saudi citizens to have fractional ownership of high value real estate assets with amounts starting for as low as single-digit Riyals.

droppRWA will conduct a full feasibility study for property tokenization across RAFAL’s portfolio. A fully regulated proof-of-concept will be developed and executed, with RAFAL supplying live real estate assets for controlled transaction testing.

Faisal Al Monai, droppRWA co-founder and founder of DroppGroup stated, “This transaction marks a paradigm shift. Around the world, we are witnessing the greatest digital transformation of the 21st century, the transformation of capital itself. The mission of this partnership positions Saudi Arabia at the forefront of programmable economies, with real-world impact for every citizen ,starting at just 1 Riyal,you can “own a piece of Vision 2030.”

Al Monai, added, ” For institutional and global capital, this will be a fully regulated pilot that provides a secure on-ramp for institutional-grade Foreign Direct Investments (FDI) into Saudi Arabia. It merges stablecoin liquidity with sovereign-grade infrastructure, bringing real-world assets onto the blockchain with trust, speed and scale.”

Elias Abousamra, CEO, RAFAL Real Estate, “At RAFAL, we have always believed that real estate should be both aspirational and accessible. This partnership with droppRWA is not just about technology – it’s about democratizing real estate investment and creating a global platform for foreign direct investment into the promising Saudi market. For the first time, a young Saudi can own a piece of a premium development with just a few Riyals. That’s a powerful idea. Together with our partners, we are proud to pioneer a new model of ownership that speaks to the inclusive and innovative spirit of Vision 2030.

DroppGroup offers an AI quantum resilient platform

In 2017, Faisal co-founded droppGroup, an enterprise Web3 and AI infrastructure company based in Miami, which was embedded in the Middle East’s digital transformation. droppGroup’s flagship product, droppOne, is an AI-native, quantum-resilient infrastructure platform designed for governments and enterprises to operate in a world where AI agents transact, identities are decentralized and economies no longer need intermediaries.

It has deployments spanning the governments of Saudi Arabia andQatar, Saudi Aramco, Cisco and Oracle, utilized for digital ID, AI agents negotiating real-time contracts, real world assets like energy being tokenized and national data rails stitched into smart city backbones.

At its core, droppOne enables a new kind of economy. Its architecture supports >500,000 TPS, seamlessly bridges on-premise enterprise environments with public blockchains. Every AI agent has a wallet. Every transaction is programmable. Every interaction – sovereign.

In 2023 Saudi oil giant Aramco entered a collaboration agreement with droppGroup, a US-based company with operational hubs in Canada and Saudi Arabia. The partnership entailed that Aramco and droppGroup work together on deploying the latter’s proprietary Web3 technology to support the Saudi Vision 2030 quality of life program. The companies worked to develop a range of innovative Web3 solutions to benefit Aramco employees, including an on-boarding and training ecosystem, a tokenized network, and a rewards program.

The partnership also intended to explore creating a global tokenised network connecting all Aramco stakeholders.

Recently Faisal Al Monai was at Aramco with Tether, the issuers of USDT. On LinkedIn he noted, “A great feeling representing droppGroup and Tether.io meeting with aramco – The digital economy is the future and the future is here. Real World Asset tokenization transforms today’s capital into tomorrow’s value and profit.”

UAE regulated Emirates Coin Investment first to offer crypto and traditional investments

UAE regulated Emirates Coin Investment first to offer crypto and traditional investments

Emirates Coin Investment LLC (EmCoin) based out of Abu Dhabi UAE, has become the first regulated integrated investment platform to offer both crypto investments as well as traditional assets such as equities, commodities, and even ICOs.

Regulated by the UAE Securities and Commodities Authority, Emirates Coin Investment will be able to serve the entire UAE. As per the press release, this marks a bold new chapter in the UAE’s financial journey ushering in a smarter, safer, and more inclusive era for investors of all levels.

EmCoin will launch a cutting-edge 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.


“This is a landmark moment,” said Yasin Arafat, Chief Operating Officer of EmCoin. “We’re building a secure bridge between old and new finance. Thanks to the SCA’s vision, EmCoin gives everyday investors the tools to take control of their financial future with clarity, compliance, and confidence. The future of finance is tokenized, decentralized, and inclusive and EmCoin is leading that charge.”

EmCoin will bring under one roof both crypto assets, global stocks, managed funds, and even ICOs (Initial Coin offerings) onto a regulated, secure and expert supported platform.

EmCoin is working closely with the SCA to introduce regulated Initial Coin Offerings (ICOs) unlocking innovative new ways for businesses to raise capital and for investors to participate in previously inaccessible opportunities. These developments reinforce the UAE’s position as a forward-looking global hub for digital finance.

Prior to this the first AED (UAE Dirham) stablecoin approved by the Central Bank of the UAE, named AECOIN is also starting to be used as in Air Arabia.


Solana Foundation and Dubai’s VARA to collaborate on virtual asset innovation hub

Solana Foundation and Dubai’s VARA to collaborate on virtual asset innovation hub

The Solana Foundation and Dubai’s Virtual Asset Regulatory Authority have signed an MOU to collaborate on not only helping founders navigate licensing through workshops, advisory sessions and practical guides but also supporting the creation of a virtual asset innovation hub in Dubai that will offer policy feedback and data sharing.

Additionally the two entities will work to develop talent, provide economic impact reports, as Dubai positions itself as a forward thinking crypto jurisdiction.

Solana Foundation on LinkedIn noted, “Dubai continues to position itself as one of the most forward-thinking crypto jurisdictions in the world. We’re proud to support that vision and help founders, teams and investors plug into this growing ecosystem.”

Dubai VARA also on LinkedIn added, “We’re proud to formalise our partnership with the Solana Foundation through a newly signed MoU by our CEO, Matthew White, and Lily Liu, President of the Solana Foundation. From regulatory education and talent development, to data-sharing and co-creating the Solana Economic Zone in Dubai – this partnership reinforces our commitment to building a transparent, innovation-first environment for the virtual assets sector.”

Earlier this week Dubai VARA also signed an agreement with Sui Hub for similar initiatives.

Ripple stablecoin approved by Dubai DIFC regulator

Ripple stablecoin approved by Dubai DIFC regulator

Ripple, an enterprise blockchain and crypto solutions, RLUSD stablecoin has been approved as a recognized crypto token by the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Centre (DIFC).


As per the press release, this approval reinforces RLUSD’s position as a trusted, enterprise-grade stablecoin, built with regulatory compliance, utility, and transparency at its core. Alongside today’s approval under the DFSA’s crypto token regime, RLUSD is one of the few stablecoins globally to be issued under a New York Department of Financial Services (NYDFS) Trust Company Charter.

“The DFSA’s approval of RLUSD is proof of our commitment to building a stablecoin that meets the highest standards of trust, transparency and utility,” said Jack McDonald, Senior Vice President of Stablecoins at Ripple. “With regulation-first design and enterprise-grade features, RLUSD is uniquely positioned to drive enterprise utility of blockchain technology across global markets, starting with cross-border payments.”

RLUSD has been purpose-built for global enterprise utility, particularly in improving the speed, cost and efficiency of cross-border payments. This recognition allows Ripple to integrate RLUSD into its DFSA-licensed flagship payments solution, combining the stability of a trusted digital dollar with a scalable, blockchain-based infrastructure and Ripple’s extensive global payout network.

This approval also enables other DFSA-licensed firms in the fast-growing DIFC to incorporate RLUSD into their virtual assets services. With almost 7,000 firms active at the end of 2024, this further supports the integration of high-quality stablecoins into Dubai’s burgeoning digital assets and fintech ecosystem.

Stablecoin adoption in the UAE is accelerating. According to market data, 2024 saw a 55% year-on-year increase in stablecoin transactions in the region, signalling strong demand for blockchain solutions that address the inefficiencies of traditional payment rails. With a $400BN+ market for international trade and one of the world’s most progressive regulatory frameworks for digital assets, the UAE is well-positioned to become a global hub for stablecoin innovation and utility.

“The UAE continues to set a global benchmark for forward-thinking digital asset regulation and innovation,” said Reece Merrick, Managing Director Middle East and Africa (MEA) at Ripple. “The DFSA’s approval of RLUSD is yet another step forward for Ripple’s operations in the region, and we’re seeing huge interest from businesses of all sizes for cross-border payments and digital asset custody solutions. The UAE’s digital economy is vibrant and incredibly dynamic, and we’re looking forward to working with our regional partners, customers and regulators to supercharge that growth.”

Earlier this month Ripple onboarded UAE Zand Digital bank and Mamo, while it also was used in Dubai Land Department tokenization of property platform.

SuiHub and VARA Dubai collaborate to support startups

SuiHub and VARA Dubai collaborate to support startups

SuiHub MENA and the Dubai Virtual Assets Regulatory Authority (VARA) have signed an agreement to support startups, develop local talent, and share insights that can help grow the virtual asset space in the Middle East.

As per the announcement, the collaboration represents a shared vision to make Dubai a global hotspot for virtual asset innovation. VARA, established in 2022, oversees the regulation and supervision of virtual assets in the Emirate. SuiHub MENA, backed by the Sui Foundation, is committed to supporting builders and developers in the web3 ecosystem. Together, they will engage in activities that simplify compliance processes for startups, provide advisory support, and generate insights to guide future virtual asset policies in the region.

The partnership includes several initiatives, such as regulatory and licensing educational support by jointly hosted workshops and guidance for startups navigating Dubai’s licensing regime, including advisory sessions and educational materials to guide founders and participants. It also includes ecosystem development, where VARA will support SuiHub MENA’s flagship innovation center based in Dubai through roundtables and strategic engagements with government stakeholders, as well as a joint exploration of research opportunities.

Additionally both entities will co create programs that are aimed at expanding local technical expertise aligned with the regulatory needs of the market. Both will also share anonymized data to assess the sector’s growth and its impact on employment, investment, and economic contributions.

SuiHub MENA will facilitate introductions between VARA and ecosystem projects while contributing insights for economic policy development. Both organizations will explore co-authored research and publications focused on the industry’s evolution.

“At SuiHub MENA, we believe in building strategic and supportive collaborations between regulators and founders.” shared Kristof Lukovich, CEO of SuiHub MENA. “Our collaboration with VARA is a significant forward and aligns with SuiHub MENA’s positive commitment to helping to shape a global benchmark for virtual asset innovation, regulatory clarity, and sustainable growth here in the region.”

UAE Fuze and Oman based Mamun to bring Sharia compliant financing through stablecoins

UAE Fuze and Oman based Mamun to bring Sharia compliant financing through stablecoins

UAE Regulated digital assets infrastructure provider, Fuze, has signed a strategic memorandum of understanding (MoU) with Oman based Mamun is a Sharia-compliant alternative finance and investment platform headquartered to enable regional and global retail and institutional investors to participate in short-term, sharia compliant financing of trade-driven businesses in USDT (Tether’s US dollar-pegged stablecoin).

As per the announcement, trade-driven businesses will then be able to receive fiat financing in local currency for supplier payments, local and cross-border trade. This will support businesses in accessing new forms of financing from a wider pool of investors.

The trade-credit gap in MENA stands at a staggering $250 billion, with that gap being over $1 trillion globally. SME businesses particularly feel the grunt of this problem, being underserved and underbanked by traditional financial institutions. Meanwhile, there are over 40 million crypto investors in MENA alone, with an estimated holding value of $300 billion, with very little access, if any, to small minimum, high-yielding, Sharia-compliant trade finance assets.

The partnership is one of the region’s first to bridge regulated digital asset infrastructure with traditional private credit markets. Under this collaboration, Fuze will provide the digital asset rails (on/off ramp, custody and conversion) while Mamun will originate Sharia-compliant trade finance opportunities. The agreement will enable quick and compliant settlement for SME trade financing and solve pain points around cross-border capital movement.

Mo Ali Yusuf, Fuze CEO said, “The alignment between Fuze and Mamun underscores a growing trend – the use of stablecoins like USDT not only for trading or remittance, but as a working capital and liquidity tool for real-world finance.”

Mohammed Al-Tamami, Mamun CCO said, “Bringing stablecoins into Sharia-compliant private credit allows us to open new pathways for cross-border trade finance. At Mamun, we’re not just innovating, we’re aligning digital asset infrastructure with real-economy capital needs. This collaboration with Fuze enables us to better serve investors and businesses alike.”

Galaxy recently led an investment round of $12 million into Fuze.