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Medical Value Chain training carries out sessions for new track and trace mandate in Bahrain

Medical Value Chain training carries out sessions for new track and trace mandate in Bahrain

Bahrain based Medical Value Chain (MVC) conducted a series of comprehensive training sessions for Bahrain government officials, manufacturers, importers, distributors and dispensers aimed at enhancing the understanding and utilization of the upgraded NHRA-MVC Traceability Hub, ensuring compliance with Bahrain’s Legislative Decree No. 41 of 2017, which mandates a Track and Trace System for pharmaceuticals.

MVC also announced the pre-release and upcoming beta testing phase of SmartPass Mobile, a groundbreaking new mobile application designed to verify the authenticity of medicines. This app is set to revolutionize patient safety by providing an accessible tool for consumers, pharmacists, and healthcare providers to check the legitimacy of pharmaceutical products at the point of sale or use.

Shaikha Dheya Bint Ebrahim Al Khalifa, MVC Executive Chairperson, stated, “Our commitment to enhancing the safety and efficiency of Bahrain’s pharmaceutical supply chain is reflected in these training sessions. The introduction of our new authentication app is a testament to our ongoing innovation in healthcare technology.”

The new application offers real-time Authentication where users can scan medicine packaging to verify its authenticity against the NHRA-MVC Traceability Hub database, a user-friendly Interface for ease of use, ensuring that verification can be conducted swiftly and accurately and security enhancements.


UAE Crypto custodian Tungsten to custody Mantra Blockchain tokens

UAE Crypto custodian Tungsten to custody Mantra Blockchain tokens

UAE regulated, digital asset custodian, Tungsten Custody Solutions Ltd, will support UAE MANTRA (OM) Blockchain with its custodial services.

As per the press release, the collaboration will enable institutional clients to securely custody OM tokens while leveraging Tungsten’s regulated framework, ensuring the highest levels of security, transparency, and compliance. Tungsten Custody’s collaboration with MANTRA reinforces its commitment to supporting the broader MANTRA blockchain ecosystem that empowers developers and institutions to seamlessly participate in the evolving real world asset (RWA) tokenization space.

MANTRA is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real world regulatory requirements. The OM token is the core utility and governance token of the MANTRA Chain ecosystem and powers various features of the blockchain. By integrating with Tungsten Custody, institutional investors and funds can now access regulated custody, enhanced accessibility, and robust infrastructure.
Jose J. Perez Aguinaga, SEO of Tungsten, commented, “The integration of MANTRA (OM) into our custody services, along with our collaboration with the MANTRA , represents a key milestone in our mission to provide institutional investors with secure, compliant, and scalable digital asset solutions. As blockchain adoption expands, regulated custody is essential for bridging institutional finance with decentralised ecosystems. Tungsten Custody is proud to support MANTRA’s vision and provide the infrastructure needed for institutional participation in tokenised economies.”

John Patrick Mullin, Co-Founder & CEO of MANTRA, added, “At MANTRA we firmly believe that institutional adoption is best driven through a commitment to security, regulation and compliance. The integration of OM into Tungsten Custody’s growing portfolio of supported assets, underscores a shared commitment to bridging traditional finance with blockchain-powered institutional services – particularly in the United Arab Emirates – a key region for MANTRA.”

Mantra Blockchain tokenization platform has been making strong strides in the UAE tokenization ecosystem especially with its recent agreement with DAMAC to tokenize $1 billion worth of assets.

Tether and UAE Reelly real estate to leverage USDT stablecoin

Tether and UAE Reelly real estate to leverage USDT stablecoin

Tether Operations Limited, has partnered with UAE Reelly Tech, a real estate B2B platform allowing over 30,000 local and international agents on Reelly Tech’s platform to leverage the power of USDT, streamlining processes and driving efficiency in one of the region’s most dynamic markets.

One of the other aspects of the collaboration as per the press release is that Tether and Reelly Tech will develop a comprehensive interactive educational series to be promoted on Reelly Tech’s platform. This initiative aims to assist agents in exploring the transformative potential of stablecoins in property transactions and understanding the various practical applications, such as USDT transfers for real estate purchases, with confidence and security.

Reelly offers in-depth analysis of more than 1,450 projects and AI solutions for generating branded presentations, enabling agents to save countless hours. For developers, the one-stop solution simplifies communication with agents, reduces marketing costs, and offers real-time analytics on agent performance. The company plays a pivotal role in the real estate developer market, where agents facilitate approximately 95% of all property transactions in the UAE. Uniquely positioned to integrate with this key channel, it ensures developers can capitalize on every lead.

The collaboration between Tether and Reelly Tech aligns with Tether’s broader mission to foster blockchain innovation and education globally. In recent months, Tether has made significant strides in the Middle East, including the acceptance of USD₮ by the Financial Services Regulatory Authority (“FSRA”) as an Accepted Virtual Asset (“AVA”) in the Abu Dhabi Global Market (“ADGM”) as well as collaborations such as its work with RAK DAO in Ras Al Khaimah to promote education on Bitcoin and stablecoins.

Paolo Ardoino, CEO of Tether, stated, “We are excited to collaborate with Reelly Tech to drive blockchain innovation in the UAE’s rapidly evolving real estate sector. This initiative reflects our commitment to advancing resilient digital economies by empowering individuals and businesses with the tools and knowledge to thrive in a digital world. Together, we aim to streamline real estate transactions, promote sustainable growth, and set new benchmarks for innovation in the region.”

Vitaliy Ryzhak, CEO of Reelly, said, “The joint launch of the training program is only the first step. The UAE real estate market is experiencing dynamic growth, attracting large amounts of capital from around the world. We aim to make international real estate investment safe, efficient, and easy. To do this, we plan to create tools to open up new opportunities for using USDT in real estate transactions.”

UAE Ministry of Interior and Dubai Virtual Asset Regulator to combat virtual asset crimes

UAE Ministry of Interior and Dubai Virtual Asset Regulator to combat virtual asset crimes

The Ministry of Interior have teamed up with Dubai’s Virtual Asset Regulatory Authority to collaborate for combating virtual asset financial crimes.

As per the press release, this agreement highlights the UAE’s commitment to safeguarding its financial system while fostering leadership in the digital economy.

The MoU aims to unify efforts in information sharing on virtual asset service providers, illicit transactions, and unlawful practices. By facilitating a rapid and secure exchange of data between VARA and the Ministry of Interior, the agreement ensures that the virtual assets sector in the UAE remains secure, innovative, and aligned with international standards.

As part of the collaboration, both entities will develop joint training programs, specialized task forces, and electronic platforms to monitor and detect suspicious activities. These initiatives aim to strengthen the regulatory framework, ensuring that only compliant virtual asset service providers operate in Dubai, thereby enhancing financial system integrity and consumer confidence.

Consumer protection is high up the list for both the UAE Ministry of Interior and VARA as is the combatting of money laundering efforts, and maintaining financial stability in the UAE.

Major General Khalifa Hareb Al Khaili, Undersecretary of the Ministry of Interior, emphasized the Ministry’s dedication to integrated collaboration with national institutions to enhance security and deliver services that reflect the UAE government’s vision and global standing. He highlighted the importance of institutional cooperation to achieve shared strategic goals and develop a robust regulatory framework.

This MoU marks a significant milestone in our collective mission to build a secure and well-regulated virtual assets ecosystem, said Matthew White, CEO of the Virtual Assets Regulatory Authority. By deepening our collaboration with the Ministry of Interior, we are reinforcing measures to detect and prevent financial crimes in the virtual assets space. This partnership ensures that Dubai continues to lead by example fostering innovation while safeguarding the integrity of the emirate’s financial ecosystem. Through this collaboration, we are not only enhancing the security of virtual assets but also cementing Dubai’s position as a global hub for responsible digital finance.

During the years between 2022 and 2024 Dubai Police revealed that they had conducted money laundering financial investigation cases including $16.3 million ( 60 million AED) in virtual assets, or crypto asset cases. This did not include a case where The Dubai Economic Security Center disrupted a $49 million crypto money laundering operation. Both investigations led to a total of $65.3 million crypto money laundering investigation cases.

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Incorporated in Dubai Algorethics Validator tackles AI Ethics including DeepSeek’s Bias & OpenAI’s Pitfalls

Incorporated in Dubai Algorethics Validator tackles AI Ethics including DeepSeek’s Bias & OpenAI’s Pitfalls

As artificial intelligence (AI) cements itself as a cornerstone of technological innovation, ethical concerns surrounding AI governance have gained global attention. Leading the charge for responsible AI, Algorethics has officially started operations in the UAE, aligning its vision with the Dubai AI Commitment and the Dubai AI Seal.

This move places Dubai at the forefront of ethical AI regulation, offering businesses and developers in the UAE a powerful tool to validate AI models against international standards. With Dubai emerging as a hub for AI-driven enterprises, this expansion highlights the increasing need for accountability and transparency in AI solutions. The Algorethics Ethical AI Validator, a cutting-edge compliance platform, is designed to detect hidden biases, flag ethical risks, and promote fairness in AI applications, ensuring they align with Dubai’s robust regulatory frameworks.

DeepSeek’s Propaganda Problem and OpenAI’s Ethical Pitfalls

As AI models like DeepSeek R1 and OpenAI’s ChatGPT revolutionize industries from education to healthcare, they also expose significant ethical vulnerabilities. The Algorethics Ethical AI Validator has uncovered troubling biases in these models, providing crucial insights for businesses and developers aiming to ensure their AI systems comply with ethical standards.

DeepSeek R1 has been praised for its cost-effectiveness, saving startups and enterprises up to 40% in GPU costs. However, Algorethics identified that DeepSeek R1’s outputs consistently align with Chinese government narratives, raising concerns about AI neutrality and ideological influence. The risks associated with biased AI models include manipulation of public opinion, global adoption challenges, and erosion of user trust.

Similarly, OpenAI’s ChatGPT has demonstrated remarkable versatility but has faced scrutiny for bias in training data, privacy violations, and factual inaccuracies. Such challenges emphasize the urgent need for robust ethical frameworks, ensuring AI technologies do not reinforce harmful stereotypes, generate misinformation, or violate user privacy.

The Real-World Consequences of Unethical AI

The risks posed by biased AI models are not merely theoretical—they can lead to financial losses, legal liabilities, and reputational damage. Historical cases illustrate the impact of unethical AI:

  • Amazon’s AI Recruiting Tool was scrapped after it was found to systematically discriminate against women.
  • Apple Card’s AI Credit Decisioning faced backlash for alleged gender bias in 2020, leading to regulatory investigations.
  • Uber’s Self-Driving AI caused a fatal accident in 2018 due to recognition failures, leading to legal repercussions.

Such failures highlight the critical need for AI governance frameworks like Dubai’s AI Commitment, ensuring AI models are fair, unbiased, and transparent.

Algorethics Validator: The Ethical AI Game-Changer

The Algorethics Ethical AI Validator addresses these challenges by offering:

  • Bias Detection: Identifies and flags ideological, political, or cultural biases in AI models.
  • Transparency Reports: Provides detailed insights to developers for correcting ethical shortcomings.
  • Accessibility: Free to use for validating popular LLMs and AI models, making it a vital resource for startups.
  • Versatility: The Validator supports a wide range of AI models, offering in-depth ethical evaluations beyond surface-level assessments.

With this Validator, businesses and organizations can preemptively address ethical concerns, safeguard their reputations, and ensure compliance with global AI governance standards.

Dubai’s AI Commitment and Future Ethical AI Governance

Dubai’s AI policy is built on three key pillars: governance, transparency, and accountability—principles that align seamlessly with Algorethics’ mission. The Dubai AI Seal ensures AI models deployed in the UAE meet stringent ethical requirements, fostering trust and responsible innovation.

By establishing operations in the UAE, Algorethics reinforces Dubai’s role as a global leader in ethical AI governance. Companies that adopt ethical AI compliance will not only benefit from regulatory adherence but will also gain a competitive advantage, attracting investors and customers who prioritize transparency.

Robert McNamara, Co-Founder and Chief Ethical Innovation Officer of Algorethics, emphasizes the importance of ethical AI, “Unchecked AI can perpetuate biases, influence opinions, and erode public trust. The Algorethics Validator empowers organizations to uncover hidden biases and create systems that prioritize fairness, transparency, and inclusivity. The future of AI must align with humanity’s core values, and we’re proud to lead this transformation.”

Ensuring AI Accountability with Algorethics

With AI rapidly integrating into critical industries, responsible AI governance is no longer optional—it is imperative. Businesses, regulators, and developers must work together to ensure AI models align with ethical guidelines, preventing bias, misinformation, and regulatory risks.

The Algorethics Ethical AI Validator is now available in the UAE, providing real-time compliance monitoring, bias detection, and transparency reporting to help organizations build responsible AI solutions.

Test your AI models today using the Algorethics Ethical AI Validator. It’s free, accessible, and designed to help developers create unbiased, responsible AI systems.

RAK DAO and XDC Blockchain fund accelerator with $2 million

RAK DAO and XDC Blockchain fund accelerator with $2 million

RAK DAO, the free zone for digital assets companies located in the emirate of Ras Al Khaimah UAE, has launched in partnership with XDC Blockchain the accelerator program – Builder’s Oasis with a funding pool of $2 million.

As per the press release, the accelerator program is designed to support Web3 startups in the gaming, AI, and blockchain infrastructure sectors. The program aims to attract over 150 global applicants, with high-potential startups to be shortlisted. Select participants are eligible for USD$100,000 in funding from the blockchain platform XDC, alongside guidance from RAK DAO’s network of ecosystem partners.

Applications for Builder’s Oasis will be open until the end of February 2025, after which shortlisted teams will be invited to participate in exclusive demo days in Dubai and Ras Al Khaimah.

These demo days will culminate in a final showcase during the weeks leading up to the upcoming TOKEN2049 in April 2025.

Luc Froehlich, Chief Commercial Officer of RAK DAO, stated, “Having worked closely with startups across the globe, I’ve witnessed how resources and mentorship can transform raw ideas into industry-shaping solutions. By providing funding, fast-track licensing, and a supportive community, we’re paving the way for blockchain, AI, and gaming ventures to flourish in Ras Al Khaimah and beyond. Our vision is to create a global nexus of forward-thinking founders who aren’t just building projects, but defining the future of decentralized technology”.

Ritesh Kakkad, co-founder of XDC Network, added, “At XDC Network, we’ve always believed in the power of pragmatic, real-world adoption for blockchain. ‘Builder’s Oasis’ aligns perfectly with our focus on delivering tangible solutions that bridge traditional finance and decentralized systems. Through this accelerator, we aim to empower startups to push boundaries—whether it’s in trade finance, tokenization, or next-generation gaming.”

In November 2024, XDC Network, an enterprise-grade Layer 1 blockchain designed for secure, scalable, and efficient operations that supports trade finance, real-world asset (RWA) tokenization, and decentralized applications for both enterprises and retail users, partnered with RAK Digital Assets Oasis to launch a Web3 accelerator in the UAE.

UAE government focuses on impact of data centers on energy sector

UAE government focuses on impact of data centers on energy sector

The UAE National Team for Reviewing the Impact of Data Centers on the Energy Sector recently held its first meeting at the Dubai headquarters of the Ministry of Energy and Infrastructure (MoEI) to explore the development of data centers in the UAE and their influence on the local energy sector.

According to a recent Research and Markets report, the United Arab Emirates Data Center Market was valued at USD 1.26 billion in 2024, and is expected to reach USD 3.33 billion by 2030, rising at a CAGR of 17.58%.

Global cloud providers such as Microsoft, Amazon Web Services (AWS), Oracle, and Alibaba are establishing and expanding their operations in the UAE data center market. AWS continues to grow its cloud footprint, capitalizing on the expanding digital economy of the country, while Microsoft has expanded its cloud operations in both Abu Dhabi and Dubai. The UAE data center market is primarily dominated by regional operators, including Khazna Data Centers, Gulf Data Hub, Moro Hub, and du. The global operator Equinix also has a significant presence in the market. The UAE data center market is also witnessing several new entrants which include Quantum Switch Tamasuk and Pure Data Centres, with Khazna Data Centers holds the highest market share of over 59% in the UAE as of H1 2024.

Given the oncoming growth in datacenter market in the UAE, the UAE National team meeting, highlighted the challenges facing data centers and ways to make them more sustainable, in addition to the importance of adopting global best practices to ensure the efficient operation of these centers.

Attending the meeting was His Excellency Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, His Excellency Eng Saif Ghubash, Assistant Undersecretary for Petroleum, Gas, and Mineral Resources at MoEI, in addition to members of the team which comprises representatives of MoEI, the Ministry of Industry and Advanced Technology, the Ministry of Climate Change and Environment, the Telecommunications and Digital Government Regulatory Authority, the Artificial Intelligence, Digital Economy, and Remote Work Applications Office, Abu Dhabi Digital Authority, Digital Dubai Authority, Digital Sharjah Authority, Sharjah Digital Department, Department of Digital Ajman, the Electronic Government Authority of Ras Al Khaimah, Smart Umm Al Quwain Department, and Fujairah Digital Government.

The team will be responsible for analyzing and reviewing the impact of data centers on energy demand, evaluating the local market and projected economic return for this key sector as well as, identifying all data centers in the country and classifying them according to specific standards. The team will also be conducting a geographical study of the distribution of current and future data centers in the country to ensure optimal infrastructure distribution, performing benchmark comparisons to review global best practices in data centers, and working on developing a federal policy aimed at regulating the operation of local data centers.

During the meeting, His Excellency Eng Sherif Al Olama said, “The formation of the UAE National Team for Reviewing the Impact of Data Centers on the Energy Sector comes as part of the country’s strategic directions towards digital transformation and enhancing sustainability in the energy sector. It is expected to contribute to the development of policies and regulations that support the sustainability of the sector and maintain the competitiveness of the UAE in the field of digital infrastructure.

He noted the need to develop innovative solutions to ensure a balance between the demands of technological development and the sustainability of energy resources, in alignment with the national goals in the field of energy and sustainability.

He also highlighted the importance of establishing a comprehensive framework that includes analytical studies and clear recommendations based on accurate data, which will contribute to making strategic decisions capable of achieving the country’s energy goals, particularly in clean and renewable energy.

This comes as Roland Berger’s recent report ” Who Pays For Tech” discusses the fact that addressing the energy challenge requires regulatory measures, technological innovation, and appropriate cloud processing pricing. Enforcing energy efficiency regulations, deploying new cooling and computing technologies, and leveraging AI to optimize data center operations will be crucial in balancing technological progress with environmental sustainability, ensuring that digital services do not impose unsustainable costs on the planet.

UAE set to launch XRG energy investment company

The UAE government is also working on its energy needs with the launch of XRG, an international energy investment company that will focus on projects across the spectrum, from gas to chemicals to low carbon fuels to energy infrastructure. The energy investment company was launched by ADNOC in November 2025 with the aim to have $80 billion in assets under management by 2035.

XRG was launched by Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and ADNOC. He noted at the time that global energy demand is set to rise dramatically, increasing from 9,000 GW to 15,000 GW by 2035 and potentially reaching 35,000 GW by 2050—a staggering 250% increase. The rise of AI applications like ChatGPT, which consumes ten times the energy of a single Google search, is accelerating this trajectory.

Without diversified energy solutions, meeting this demand sustainably will be nearly impossible. XRG hopes to address this by optimizing energy production and usage across the spectrum—from traditional fuels to low-carbon alternatives and advanced infrastructure.

It is estimated that global spending on construction of new data centers is expected to surpass US$49 billion by 2030 (source: MicKinsey & Company). With over US$1.0 trillion funding gap in renewable energy, it is believed to be an opportune time to lay the groundwork to power the advancement of compute infrastructure for a vibrant digital economy.

HODLER Investments and EHC Investment create NEXGEN to supply critical energy infrastructure

HODLER INVESTMENTS, a UAE based investment company, headquartered in the Dubai, which includes in its portfolio energy, AI, and digital asset mining startups such as PermianChain, Brox Equity and others; and Abu Dhabi’s EHC Investment which leads multiple businesses with operations and investments across the energy, infrastructure, firefighting technology and system integration services signed a strategic partnership to launch NEXGEN.

NEXGEN aims to support the creation of a compliant digital energy market to supply critical energy infrastructure that will monetize wasted energy such as flared gas in the UAE, KSA, and Egypt for hosting global data center operators, reducing carbon emissions and contributing the Digital Energy Infrastructure (DEI) Fund, a local decarbonization innovation fund.

The strategic partnership with EHC Investment comes after HODLER announced its ongoing plans for a $500 million Digital Energy Infrastructure (DEI) Fund with the participation of UAE based GEWAN holding. The DEI will be established as a closed-ended Fund, subject to compliance and regulatory approvals. The DEI Fund has already secured soft commitments from lead investors and in-kind contributions in addition to offtake partners seeking energy and connectivity for A.I. and digital asset mining operations.

UAE Everdome and Immerso join forces for metaverse entertainment experience

UAE Everdome and Immerso join forces for metaverse entertainment experience

UAE Everdome, interactive metaverse experience creators, and Immerso, an Eros Innovation company- home to Eros Media and Eros Now, and a global leader in AI innovation and intellectual property (IP), have joined forces to enrich metaverse entertainment experience.

As per the press release, the partnership combines Immerso’s exceptional IP portfolio, featuring an extensive library of over 12,000 film titles, with Everdome’s immersive technology. Together, they aim to transform how audiences engage with entertainment in the digital era. The initial focus will be on integrating Indian cinema’s vast library of films, stars, directors, and influencers into immersive virtual worlds, together, Immerso and Everdome will offer audiences entirely new ways to connect with entertainment.

Backed by Eros Innovation, Eros Media World boasts a 30% market share in the Indian film industry, selling 2.7 billion tickets annually and reaching a global audience in the billions. This partnership unlocks the potential to become the world’s largest film market for metaverse engagement.

Jeremy Lopez, CEO of Everdome, commented, “This partnership propels Everdome’s vision to merge the metaverse with AI tools and intellectual property, setting the stage for the creation of interactive, metaverse-native IP experiences for brands on a global scale. With nearly 50 years of Bollywood history under their belt and a strong commitment to the metaverse and immersive computing, Immerso is the perfect partner as Everdome steps into its next chapter.”

Swaneet Singh, CEO of Immerso added, “We firmly believe in the transformative potential of virtual experiences and Web3 in reshaping the way users connect. By combining immersive experiences with AI-powered hybrid content and user-generated creation, we’re opening up new possibilities – and we are thrilled to be at the forefront of this innovation alongside Everdome.’’

Immerso is positioned to lead large-scale innovation in AI, entertainment, and the metaverse. As one of the first AI Intellectual Property (AIIP) companies, Immerso owns over a trillion AI tokens and has trained models across all LLM platforms. This foundation, coupled with initiatives such as establishing India’s first AI Park and a billion-dollar investment in a Malaysian AI park and film studio, showcases Immerso’s commitment to pushing the boundaries of digital experiences.

Everdome, recognized for its expertise in creating immersive and accessible digital experiences, is bringing real use cases and larger audiences to the metaverse. With a proven track record of collaborations with global brands like the Alpine Web3, and Binance Fan Token Everdome is well-versed in bringing established IPs to life in new and engaging ways.

UAE Ministry of Energy to use Shiba Inu decentralized operating system

UAE Ministry of Energy to use Shiba Inu decentralized operating system

The UAE Ministry of Energy and Infrastructure (MoEI) has partnered with Shiba Inu, whose official mascot is DogeCoin, to advance Web3 solutions in energy infrastructure using Shibu Inu’s decentralized operating system.

As per a press release on UAE Ministry of Energy website, the partnership will leverage Shiba Inu’s broad range of Web3 technologies to support public service efficiency, green infrastructure enhancements, and citizen-focused governance models. Shiba Inu’s Operational System (ShibOS) will unify development across MoEI operations.

As per Shiba Inu website, the next gen operating system delivers turnkey solutions for Web2 to Web3 transitions. The Shib Alpha Layer
is a modular rollup abstraction layer for ultra-fast transactions, achieving sub-100ms finality and high TPS to power a global network state. While the FHE-Powered Identity Stack offers a privacy-first on-chain solution providing verifiable credentials and one-time KYC, secured by fully homomorphic encryption.

H.E. Engineer Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, noted that the partnership is a pivotal moment in their journey to redefining governmental services. He added that the Ministry aims to deliver transformative solutions that benefit both citizens and the wider community with sustainability, connectivity and digital excellence.

Shytoshi Kusama, Lead Visionary for the Shiba Inu team, added “We’re thrilled the Ministry sees Shiba Inu as a cornerstone for next-generation infrastructure.” He believes this showcases the power of Shiba Inu in delivering groundbreaking solutions.

The UAE government launched its Blockchain Strategy 2021 back in 2018 to capitalize on Blockchain technology and transform 50% of government transactions. The UAE government had expected that this strategy would save more than $3 billion in transactions and document processing, $108 million in printed documents annually, and 77 million work hours.

In January 2025, MarkNtel Advisors noted that the blockchain industry in the UAE is experiencing remarkable growth, with an annual rate of 42%.

Over the past week, blockchain initiatives have seen renewed momentum, with significant developments such as the UAE KYC Blockchain platform, led by the Dubai Department of Economy and Tourism (DET) and powered by Norbloc Blockchain, welcoming its first insurance member, Etihad Credit Insurance (ECI).

Recently, the Dubai Integrated Economic Zones Authority (DIEZ) and the Dubai Land Department (DLD) have joined forces to promote the use of modern technologies, including artificial intelligence (AI) and blockchain, within the real estate and property technology (Proptech) sectors.

This all comes as Elon Musk was reported to be considering using blockchain technology at the Department of Government Efficiency (DOGE) to track Federal government spending. Blockchain might be used to monitor federal spending, make payments, secure data and manage government buildings.

DOGE’s goal is to update federal software and technology to boost efficiency and productivity within the federal government.

BitGo receives crypto custodial in-principle approval from Dubai regulator

BitGo receives crypto custodial in-principle approval from Dubai regulator

BitGo, a digital asset solutions provider offering crypto custody, and trading services has received its crypto custodial license from Dubai’s Virtual Assets Regulatory Authority (VARA). BitGo Custody MENA FZE, has received an in-principle approval (IPA) for a Virtual Assets Service Provider (VASP) license to provide custody services. This IPA marks a significant expansion of BitGo’s world-class suite of regulatory compliant custody services to leading financial markets around the world.

As per the press release, once fully approved and licensed, BitGo Custody MENA FZE will be able to offer its secure and efficient cold storage custody services to qualified and institutional investors in Dubai. 

Ben Choy, General Manager of BitGo MENA, said, “Dubai has cemented itself as a central hub within the digital asset ecosystem and we are excited to play an important role in its growth.This IPA marks a significant milestone in our journey and we are confident that BitGo’s innovative custody services will address the sophisticated needs of the market and will help deliver meaningful value to our clients.”

BitGo’s commitment to security and compliance aligns with VARA’s comprehensive regulatory framework, which is designed to protect investors and ensure market integrity. VARA’s forward thinking and innovative frameworks have positioned Dubai as the ideal choice for BitGo’s expansion into the region. 

Bitgo is one of eight virtual asset service providers currently holding in-principle approvals from Dubai’s regulator. Currently Zand Bank, Komainu, and HexTrust hold regulated licenses.