Crypto in UAE towers to new heights with DMCC and REIT Development

Crypto in UAE towers to new heights with DMCC and REIT Development

As the UAE solidifies itself as a crypt hub globally, crypto is towering to new heights as DMCC and REIT Development, announced the launch of the landmark ‘Crypto Tower’ in Jumeirah Lakes Towers (JLT) which will be completed in October 2027.

This 17-storey project will support DMCC’s rapidly expanding community of blockchain, DeFi and Web3 companies. Complementing the DMCC Crypto Centre’s existing headquarters in Uptown Tower, the new tower will add to DMCC’s ecosystem with an advanced space fostering innovation, collaboration and business growth.

The Crypto Tower will feature cutting-edge infrastructure and state-of-the-art facilities, seamlessly integrated with advanced AI solutions powered by Chatoshi.ai. With over 150,000 square feet of leasable space, the tower will feature nine floors of advanced offices tailored for crypto startups and established businesses. Three additional floors will support blockchain incubators, venture capital firms and investment companies, while a dedicated floor will cater to artificial intelligence (AI) innovation, powered by Chatoshi.ai.

Blockchain technology will be used to streamline tenant interactions and transactions through the use of on-chain voting mechanisms, shared resources, smart contracts and other automated services. In doing so, the tower will build greater trust and transparency and reduce administrative load, setting a new standard in community decision-making and management.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said, “The Crypto Tower is a pioneering development that sits at the interface of blockchain, Web3 and real estate. With over 150,000 square feet of leasable space, including nine office floors, three dedicated floors for blockchain incubators, an AI innovation floor, a crypto club, gold bullion shop and vault storage area, the tower will provide a range of cutting-edge facilities and services for the benefit of our members. The launch of Crypto Tower is both a real-world demonstration of the future of Web3, where transparency and ownership are ensured by blockchain technology, as well as a statement of our intent as we continue to consolidate Dubai’s position as the world’s leading innovation hub.”

The development will feature a 10,000-square-foot indoor event space, complemented by a 3,500-square-foot outdoor area for crypto and blockchain events. The top three floors will house an exclusive 30,000-square-foot crypto club, providing premium networking and leisure amenities, designed to foster high-level collaboration and networking within the blockchain community.

In addition to the core facilities on offer, the Crypto Tower will include high-end features such as an NFT art gallery, a gold bullion shop, an exotic car dealership and a dedicated vault storage area offering 5,000 square feet of secure space for valuables including gold, cash and cold wallets. This multifunctional development will set a new standard for integrating technology, finance and lifestyle into one space, creating a seamless and secure environment for the world’s leading crypto players.

Brenda Stratton, Communications Director, REIT Development, added: “By combining blockchain technology with real-world construction in Dubai’s DMCC, we’re creating a physical tower that serves as a central hub for the crypto community. Every expense is on-chain, setting a new standard for transparency in the industry.”

Leaders at DavosWeb3 Roundtable Shape the Future of DLT

Leaders at DavosWeb3 Roundtable Shape the Future of DLT

The much-anticipated DavosWeb3 Roundtable brings together the 100 brightest minds in Web3 on January 22, 2025 in the heart of Davos, Switzerland. This premier gathering is a crucible for visionary discussions, groundbreaking insights, and strategic networking opportunities within the decentralized technology space.

The DavosWeb3 Roundtable unites thought leaders, innovators, investors, and industry insiders. Attendees delve into the transformative potential of decentralized technologies, addressing pressing topics such as blockchain scalability, interoperability, tokenomics, decentralized finance (DeFi), and the evolving role of Web3 in reshaping economies worldwide.

“The Web3 revolution is here, and the DavosWeb3 Roundtable is where influential voices collaborate to chart its course. This is not an event; it’s a movement.” said Ajeet Khurana, founding member of DavosWeb3.

A Stellar Lineup of Sponsors

The DavosWeb3 Roundtable is powered by leading organizations shaping the future of Web3. Sponsors include: Antier, Aptos, DroomDroom, Ecotrader, Flex Ecosystem, Internet Computer (ICP), Kandola Network, OmniFlix, Paycio, Pertin-ant, Quranium, Reflexical, RhinoSpider, Social888, Surge, Syscoin, Unstoppable Domains, Xade, Xai Games.

These organizations exemplify innovation, and are at the forefront of driving advancements in blockchain and decentralized ecosystems.

Ajeet Khurana drives the Flex Ecosystem, an integrated blockchain-powered network connecting enterprises and users. Flex Ecosystem works with Web3 projects that create pathbreaking technology that creates value and scales adoption.

Ankur Vaid leads Reflexical, a powerhouse driving innovation by empowering founders to scale, grow, and thrive in the rapidly evolving Web3 ecosystem.

Avery Ching drives the Aptos, a next-generation Layer-1 blockchain engineered for unmatched speed and robust security. Leveraging the Move programming language, Aptos empowers scalable, user-centric decentralized applications.

Bibin Babu redefinings crypto payments with Paycio, a gateway that facilitates frictionless, secure transactions. Connecting merchants and users, Paycio delivers a streamlined, future-ready financial experience.

Dayakar Reddy bridges creators, fans, and communities with OmniFlix, a multi-chain media platform. Unlocking innovative opportunities for monetization and fan engagement in a unified ecosystem.

Javier Arroyo Ferrer, leads ICP HUB Canada & US, and Quantum Leap Labs, are at the forefront of transformative initiatives for the Internet Computer Protocol (ICP). DFINITY Foundation, founded by Dominic Williams, is the major contributor to ICP, a revolutionary decentralized computing platform that extends the public internet with native cloud functionality, enabling the creation of tamperproof, autonomous, and scalable software applications.

Harshal Madnani is one of the youngest Web3 founders and spearheads Xade, an innovative DeFi and trading platform designed to unify trading, staking, and wealth management. Xade’s advanced features make it a comprehensive, user-focused financial solution.

Itay Azaraty leads Ecotrader, a platform dedicated to sustainable and ethical investment solutions. With a focus on green portfolios, Ecotrader empowers investors to achieve financial growth while contributing to a responsible future.

Jagdeep Sidhu drives Syscoin, a groundbreaking dual-layer blockchain that seamlessly integrates Bitcoin’s security with Ethereum’s versatility. The platform delivers secure, scalable solutions for DeFi, NFTs, and smart contracts within a single network. Joining him at the DavosWeb3 Roundtable are Patrick Breaux, Marketing and PR Manager for Sys Labs, known for his expertise in blockchain storytelling and strategic collaborations, and Jaskanwar Singh, co-founder of UnoRe and a recognized innovator in decentralized systems.

John Shipman is at the helm of Xai Games, where blockchain technology and immersive gaming converge. The platform offers true asset ownership, player-driven worlds, and decentralized economies for next-level gaming experiences.

Kapil Dhiman leads Quranium, a quantum-proof Layer 1 DLT that’s uncrackable, lightning-fast, and solves the Blockchain Trilemma with advanced Post Quantum Cryptography. Its hybrid infrastructure sets a new standard against quantum threats, offering a future-ready, decentralized system for builders and users alike.

Ronak Shah revolutionizes the media landscape with DroomDroom, a platform dedicated to the Web3 and crypto ecosystem. DroomDroom offers insightful content, market trends, and community-driven resources to empower enthusiasts and businesses alike.

Sandy Carter champions Unstoppable Domains, an NFT-powered domain platform that liberates digital identities from traditional constraints. Simplifying crypto transactions, it enables seamless integration across the metaverse.

Siddharth Banerjee transforms decentralized applications with Kandola Network, a real-time data protocol. Kandola accelerates dApp performance through seamless connectivity backed by analytics.

Vikram R Singh shapes the future of blockchain technology through Antier, a global consultancy delivering tailored solutions for industries worldwide. From tokenization to DeFi, Antier redefines ecosystems with innovation at its core.

Yash Belavadi and Punith B M lead Surge, a composable Metalayer on Bitcoin built to provide a secure network for launching Rollups, dApps and metaprotocols to scale Bitcoin innovation. Surge emphasizes zk-aggregation, decentralized verification, and an integrated signing and indexing architecture to unlock Bitcoin liquidity while expanding its scalability.

DavosWeb3 Roundtable: Where Web3 Takes Center Stage

As the pulse of the Web3 movement beats stronger, the roundtable will serve as the launchpad for initiatives that redefine the digital and economic landscapes. The DavosWeb3 Roundtable will create a dynamic environment where Web3 will thrive.

Unparalleled Think Tank

When participants were asked about their primary motivation to attend the roundtable, the overwhelming majority focused on the value of being in the same room as global investors, innovators, and decision-makers. From informal meet-and-greets to structured networking sessions, participants will forge meaningful connections and take the Web3 industry forward.

Whitepaper Development

Founding members of the DavosWeb3 roundtable are coauthoring a visionary whitepaper titled “Ushering a New Billion into the Global System: The Next Frontier.” This whitepaper outlines actionable strategies to drive global inclusion using Web3 technologies. This whitepaper will be distributed to media outlets, universities, trade bodies, and industry associations worldwide. If you would like to request a copy of the whitepaper, please send an email to contact@davosweb3.com

Davos Declaration

At the Roundtable Web3 world leaders will sign the Davos Declaration, a pledge and a charter that sets the vision and direction for the Web3 industry. This historic moment will underscore the shared vision of the global Web3 community to foster innovation, inclusion, and sustainability. And all of this done with integrity and purpose.

Why Davos?

Davos has long been synonymous with leadership and global collaboration. As the epicenter of transformative discussions, it provides the perfect backdrop for a gathering of this magnitude. The DavosWeb3 Roundtable will harness this spirit to inspire actionable change in Web3.

Join the Movement

As the Web3 revolution accelerates, the DavosWeb3 Roundtable is poised to become a transformative cornerstone gathering in the decentralized technology calendar. Want to be part of it? Email: contact@davosweb3.com

BNB Chain and KernelDAO commit to DeFi and restaking tech

BNB Chain and KernelDAO commit to DeFi and restaking tech

BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain by daily transactions, launched its BNB Executive TVL Incentive Program #5, offering up to 5% of incremental staked BNB as delegation support to the top five protocols, with a total of up to 50,000 BNB.

Combined with the $40M Ecosystem Fund from KernelDAO, a top restaking protocol with $2 billion in assets, this represents a commitment to advancing decentralized finance and restaking technology on BNB Chain.


BNB Chain’s TVL Incentive Program #5 opens for registration on January 15, 2025, and will run from January 21, 2025, to February 21, 2025. The campaign is designed to incentivize projects integrating BNB staking, liquid staking, and restaking. The campaign commits delegation staking support equivalent to up to 5% of incremental Total Value Locked (TVL) growth in staked BNB achieved during the campaign. Each protocol can receive up to 20,000 BNB with a total pool of 50,000 BNB allocated. Rewards will be distributed to the top five performing protocols that drive innovation and adoption within the ecosystem.


“Through the TVL Incentive campaign, we aim to empower projects to achieve their full potential, while rewarding those who stake and help secure the expanding ecosystem. By locking in TVL and supporting their growth, we are not only advancing our mission of onboarding the next billion Web3 users but also positioning BNB Chain as a network of networks,” said Marwan Kawadri, Head of EMEA at BNB Chain.


Simultaneously, KernelDAO has unveiled its $40 million Ecosystem Fund to accelerate development across restaking and shared security to support projects building on its network within the BNB Chain ecosystem.

Supported by leading investors like Laser Digital, SCB Limited, Hypersphere Ventures, Cypher Capital, ArkStream, and Levitate Labs, this fund aims to empower developers to build middleware and applications on BNB Chain. Additionally, KernelDAO will allocate 5% of its token supply as ecosystem development grants for developers and partners building and working with the KernelDAO ecosystem. With the support of over 20 prominent middleware and applications including top AI players like Mira, and Zero-Knowledge proof networks like Electron, Kernel is set to expand its ecosystem by adding over 45 strategic partners through the Ecosystem Fund.


“The launch of the Ecosystem Fund is a significant step towards increasing our efforts to build the restaking and DeFi landscape on the BNB Chain. By empowering developers to build projects on Kernel, we aim to boost innovation across middleware, applications leveraging restaking,” said Amitej Gajjala, Chief Executive Officer and Co-Founder of KernelDAO.

UAE Further Ventures leads $16 million investment in digital asset wallet

UAE Further Ventures leads $16 million investment in digital asset wallet

Further Ventures, a private equity fund in Abu Dhabi UAE, has led a $16 million investment Series A round in French digital asset wallet and custodian developer, DFNS, DFNS, which was launched in 2020, and has operations both in Paris and New York aims to compete against FireBlocks and Ledger.

Using the funds raised both in 2022, $12 million and that raises now $16 million, the startup plans to accelerate its development to meet requirements of financial institutions.

This deal was led by Further Ventures, which is a private equity fund based in Abu Dhabi. Other historical investors, such as White Star Capital, Hashed, Semantic, Techstars and Bpifrance also participated in the round.

“This deal validates both our product and our focus on fintechs and financial players,” explains Clarisse Hagège, co-founder and CEO of DFNS, which claims more than 130 customers including Fidelity, Zodia Custody (Standard Chartered’s crypto subsidiary) and Stripe, which has just acquired Bridge.

DFNS developed a wallet creation solution based on MPC (Multi-Party Computation) technology. This MPC technology breaks down the access keys to the digital wallet into fragments; these are then distributed across different secure universes. Using an API system, the startup allows developers to take bricks and create their own wallet system.

“We allow our customers to deploy their own instances on public clouds like AWS, private clouds, and connect their Thales or IBM HSMs to our blockchain transaction management system,” explains Clarisse Hagège

Als in terms of pricing , while not all offers are the same, the startup offers a billing system based on usage and not on volumes under management.

UAE Future Ventures has already invested in several digital asset service providers including Soter Insure, a provider of insurance products tailored to the digital asset economy licensed by VARA in the UAE, as well as QCP, a global digital asset trading firm, Fuze, a digital assets infrastructure provider, TwinStake, Tungsten, Kemet trading, and others.

UAE Scintilla partners with Verseprop to tokenize real estate projects

UAE Scintilla partners with Verseprop to tokenize real estate projects

UAE regulated Scintilla an institutional-grade tokenization platform, and Verseprop, a digital platform specializing in tokenized real estate equity and debt, have partnered to offer financial engineering solutions to the Real Estate sector and introduce advanced tokenization solutions that bring greater efficiency, transparency, and inclusivity to the market, alongside cost savings and distribution. 

Verseprop, founded in 2021 by a former senior executive from CBRE and Savills, is a  Financial Conduct Authority (FCA) Appointed Representative, headquartered in London, specializing in real estate debt and equity. Its current focus is short-duration, first and  second-charge UK real estate debt, which grants strong investor protections at viable  yields and is asset backed.

Scintilla, licensed by Dubai’s Virtual Asset Regulatory Authority (VARA), brings a powerful tokenization engine and its broker/dealer license and services to the table, solidifying its reputation as a leader in digital asset innovation. 

“Verseprop is not just tokenizing real estate equity and debt; we are fundamentally  reshaping how people access real estate and how asset owners think about distribution,”  said Joel Coren, CEO of Verseprop. “Our platform offers a seamless, transparent, and digital way for investors to access high-quality real estate opportunities that were  previously out of reach, and asset owners to reach them.”

Verseprop provides real estate owners access to state-of-the-art financial and tokenization services that also streamline the process for raising capital for equity, debt or a hybrid mix, while Scintilla will deliver the core  tokenization technology and broker/dealer services necessary to facilitate the distribution  of these digital tokens in the UAE.

For investors, this collaboration unlocks access to  diversified real estate opportunities while enjoying the efficiency and lower costs provided  by blockchain technology. 

“Scintilla is delighted to join forces with Verseprop to redefine how real estate assets are  tokenized and traded,” said Tim Popplewell, founder and CEO of Scintilla. “This  collaboration marks a significant step in our journey to bring institutional-grade solutions  to the digital asset space, opening up new avenues for investors and developers alike.” 

This announcement comes at the heels of the DAMAC Mantra tokenization deal.

Scintilla Acquires TOKO

Scintilla, bought out TOKO FZE registered and licensed out of Dubai UAE by VARA ( Virtual Assets Regulatory Authority) as a crypto exchange and broker. Originally developed within DLA Piper’s Law& innovation portfolio, the former TOKO brand has evolved into Scintilla with a fresh identity, new leadership, and groundbreaking product offerings.

Abu Dhabi regulated digital asset bank, Sygnum now valued at $1 billion

Abu Dhabi regulated digital asset bank, Sygnum now valued at $1 billion

Abu Dhabi licensed, global digital asset banking group Sygnum has raised a total of $58 million in its oversubscribed Strategic Growth Round, giving it a post-money valuation of more than 1 billion.

Fulgur Ventures, cornerstone investor in the final close of Sygnum’s Strategic Growth Round, is a venture capital firm focusing on Bitcoin technologies, infrastructure and applications that drive Bitcoin adoption. Fulgur is joined by new and existing strategic and financial investors, as well as Sygnum team members again participating on equal terms. The Co-Founders, board and team members continue to hold Sygnum majority ownership.

Funds will support expansion

Proceeds from the completed Strategic Growth Round will be put to work to drive Sygnum’s 2025 expanded EU/EEA market entry and to launch its regulated presence in Hong Kong. Sygnum also intends to use the funds to broaden its institutional infrastructure, expand its product portfolio with a focus on Bitcoin-technology, and enable opportunities for strategic acquisitions as the market develops.

A key driver of the oversubscribed Strategic Growth Round was the bank’s multi-year core business growth. 2024 revenues for all trading products, including crypto spot, derivatives, FX and traditional securities, surpassed the previous year’s total in Q3 for the second year running. Total annual trades in 2024 increased by more than 1,000% YoY, propelled by PostFinance and the 20+ banks on its B2B platform providing regulated crypto services to more than a third of the Swiss population.

Mathias Imbach, Sygnum Co-Founder and Group CEO, noted, “Sygnum reaching Unicorn status is a strong validation by the market of our business model, strategy and team. While it is an achievement we are very proud of, it won’t alter the values of integrity and humility, and the importance of displaying confidence without attitude at all times, which have acted as our true-north since day one. As Switzerland is currently losing ground to other jurisdictions as a preferred digital asset hub, it is also our obligation to highlight the need for Switzerland to not ignore the importance of continuous innovation in the financial sector and to continue to attract talent and capital to remain relevant in the long-term. In that way, our mission is only at the very beginning.”

Gerald Goh, Co-Founder and CEO APAC, said, “The successful completion of our Strategic Growth Round is proof of Sygnum’s strong and unique position as a leading regulated financial institution in the global digital asset industry. Offering trusted institutional infrastructure and regulated services for digital assets will continue to be the foundation for Sygnum’s future growth strategy.”

Oleg Mikhalsky, Partner of Fulgur Ventures, added, “Fulgur is a venture capital firm that continues to drive investment into the accelerating convergence of Bitcoin and institutional financial markets. Sygnum’s market-tested infrastructure, digital asset-native team and global ecosystem makes them the ideal partner to co-develop innovative Bitcoin-related financial products and technologies – as well as for future collaborations with other Fulgur portfolio companies. We are proud to be the cornerstone investor for the final close of Sygnum’s Strategic Growth Round, which coincides with a potential inflection point for Bitcoin’s institutional adoption and regulatory clarity.”

In FY 2024, Sygnum achieved operational profitability and continued to grow its 2,000-strong institutional client base domiciled in over 70 countries, serviced through its regulated operations in Switzerland, Singapore and Abu Dhabi. The group is also regulated in the established global financial hubs of Luxembourg and was recently registered Liechtenstein.

UAE Sigma Capital venture firm launches $100 million Web3 fund

UAE Sigma Capital venture firm launches $100 million Web3 fund

UAE based Sigma Capital, a Web3 early-stage venture firm, has launched a $100 million fund dedicated to accelerating the next wave of Web3 innovation in the Middle East and globally. As per the press release, the fund launch spotlights the UAE’s growing role as a global hub for the Web3 & Blockchain sector.


The fund will focus on early-stage venture investments in transformative areas such as DeFi, blockchain infrastructure, real-world asset tokenization, gaming and the metaverse.

Sigma Capital will actively manage a portfolio of liquid tokens, seizing market opportunities to generate consistent returns. The fund will also leverage high-yield DeFi strategies to optimize portfolio performance and invest in high growth crypto venture funds that broaden exposure to emerging innovations.


Vineet Budki,an expert in the Web3 space, and the former CEO and Managing Partner of Cypher Capital, also a Web3 VC based out of UAE, will lead the fund.

Vineet spearheaded over 300+ investments in high-profile projects, including Mysten Labs, Sei Network, Casper Labs, Web3Auth, Casper labs, Manta network, Mocaverse, Peak network and MyPetHooligan.


The Sigma Capital Team has years of experience in the Blockchain investing space and have been invested or partnered with multiple reputed players in the Blockchain space which include Polygon Technology, Morningstar Ventures, Blockchain Founders Fund, Woodstock Fund and many others.


Vineet Budki, CEO and Managing Partner of Sigma Capital, said, “We envision a digital economy that is more open, inclusive, and innovative. The UAE’s dynamic economy and forward-thinking regulatory environment provide the perfect backdrop for Web3 innovation. This fund empowers startups with capital, equips them with access to our extensive network and expertise, and enables them to thrive in a rapidly evolving landscape.”


Sandeep Naliwal, Founder Polygon Technology one of the leading players in the Blockchain space noted, “ Vineet’s track record as a visionary leader in Web3 speaks for itself. His deep understanding of market dynamics and foresight in nurturing high-impact projects have been pivotal in advancing the ecosystem. The launch of Sigma Capital’s $100 million fund is a testament to his expertise and the UAE’s emergence as a global hub for blockchain innovation. I have no doubt this fund will catalyze the next wave of groundbreaking startups and solidify the region’s role in the decentralized economy.”


Sigma Capital plans to deploy investments across 100 early-stage projects, 25 liquid tokens, and 10 fund-of-fund allocations over the next three years. The firm’s strategic edge lies in its proven expertise and global reach, leveraging its network to provide access to key exchanges, market makers, exchanges, launchpads and opinion leaders.

Danilo S. Carlucci, Founder & CEO at Morningstar Ventures, and a key partner in the fund sdded, “Since our establishment in Dubai in 2020, Morningstar Ventures has been committed to supporting transformative projects and bold founders that push the boundaries of blockchain innovation. Sigma Capital’s $100 million fund is a testament to the region’s growing influence in blockchain and financial technology. It will support the growth of Web3 startups and further solidify the region’s position as a leader in financial innovation.”


Sigma Capital collaborates with Web3 hubs across 10 global cities, providing portfolio companies with deep market insights and comprehensive support to enable success in a competitive market. By combining a diversified approach with deep market access, Sigma Capital aims to drive sustainable growth in both the Global and GCC Web3 ecosystem.


The firm’s dual presence in Dubai and Singapore, coupled with regulatory oversight from the Cayman Islands, ensures access to global opportunities while maintaining a strong compliance framework.

In December 2024, The Hashgraph Group (THG), the Swiss-based international business, technology, and investment firm that operates exclusively within the Hedera ecosystem, secured a fund management license through its subsidiary Hashgraph Ventures Manager Ltd in ADGM planned to launch a $100 million global venture fund (Hashgraph Venture Fund-I). The strategic Web3 venture fund would focus on generating attractive long-term returns by investing in proven early-stage and well-established companies utilizing deep technologies to build and commercialize enterprise-grade solutions and products for the Web3 economy.

Hashkey Group crypto exchange to be licensed UAE

Hashkey Group crypto exchange to be licensed UAE

HashKey Group (“HashKey”), a leading end-to-end digital asset financial services group in Asia, has announced that HashKey MENA FZE , a member of the HashKey Group, has received an In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for its Virtual Asset Service Provider (VASP) license application to offer crypto exchange services.

As per the press release, this regulatory approval reinforces HashKey Group’s position as a trusted leader in the virtual asset industry, enabling HashKey to deliver secure and transparent services globally.

HashKey Group is adigital asset financial services group in Asia with global operations in regions such as Hong Kong, Singapore, Japan, Ireland and Bermuda. Since 2018, HashKey Group has built al Web3 ecosystem within a high-compliance regulatory framework, including HashKey Exchange, a licensed virtual asset exchange regulated by the Hong Kong SFC; HashKey Global, the global flagship digital asset exchange; HashKey Capital, a global asset manager investing exclusively in blockchain technology and digital assets; HashKey OTC, the compliant over-the-counter (OTC) trading arm of HashKey Group, HashKey Cloud, a leading provider of global Web3 infrastructure; and HashKey Tokenization, a tokenization services provider.

Upon final approval, the VASP license will authorize HashKey MENA FZE to offer Virtual Asset Exchange Services and Virtual Asset Broker-Dealer Services to retail investors, qualified investors, and institutional investors.

HashKey Group holds licenses in Hong Kong, Singapore, Japan, and Bermuda, has a VASP registration in Ireland, and is actively pursuing a MiCA license in Europe to further strengthen its global regulatory footprint. The Group recently secured VASP registration approval from the Central Bank of Ireland.

So far UAE has been able to attract global crypto exchanges to the country including Crypto.com, Binance, OKX, and others. Hashkey will be one of the first from Asia to be seeking a license in the UAE.

The Hashgraph Association supports KSA’s Deep tech report

The Hashgraph Association supports KSA’s Deep tech report

The Hashgraph Association, a Swiss non-profit, driving the global adoption of Hedera-powered solutions by funding innovation, training, and venture programs, was one of the first blockchain technology groups to participate in Saudi Arabia’s deep tech strategy, a strategy which seems to be paying off based on a recent report by the Saudi Ministry of Communications and Information technology, King Abdullah University of Science and Technology and Hello Tomorrow Consultancy.

The Deep Tech report published on January 7th 2025, notes that in 2025, nearly 50% of homegrown deep tech startups in KSA are specializing in AI (Artificial Intelligence) and the Internet of Things (IoT). While the number of scale-ups has reached 43 companies contributing to driving innovation.

The Deep Technology Report presents a roadmap for making Saudi Arabia a global deep tech hub and highlights the different initiatives that support the Kingdom in realizing the objectives of Vision 2030.

As per the report, the deep tech startup ecosystem is still in its infancy and is relatively modest in size when compared to the overall startup landscape with room for expansion. Currently there are 43 deep tech startups in the overall 1,000 startups in the country.

Deep tech startups raised over US$100 million between 2020 and 2022. The Kingdom has also seen a rise in the number of incubators and accelerators that offer deep tech verticals.

$250 million investment in Deep Tech studio with Saudi Ministry of Investment

One of those deep tech incubators and accelerators is The Hashgraph Association’s which was launched in February 2024. The Switzerland based Hashgraph Association signed a strategic partnership with the Ministry of Investment of Saudi Arabia (MISA) to launch a Deep Tech Venture Studio in Riyadh, worth $250 million over the next five years.

The studio would focus on the convergence of Web3, AI and technologies such as distributed ledger technology (DLT), virtual reality, robotics, and quantum computing, helping to launch 500 new companies over the 2024-2028 period.

The Hashgraph Association and its DeepTech Venture Studio will enable local Saudi companies, as well as international portfolio companies seeking to establish operations in the Kingdom, to develop innovative solutions, leveraging deep tech such as AI, DLT, Robotics, IoT, VR, and Quantum Computing, all of which are key as per the Deep Tech report from MCIT.

KSA seeks to attract $7.9 billion in foreign investment and $12.5 billion in local for AI

KSA’s goal is to attract $7.9 billion in cumulative foreign direct investment (FDI) and $12.15 billion from local markets in data and AI by 2030. The Kingdom of Saudi Arabia also saw the addition of 104 active investors in 2024 with a 75% increase in the number of researchers since 2015. The report highlights that Saudi Arabia is expanding its research infrastructure to accommodate 140,000 researchers by 2030, a sevenfold increase from the current 20,000 researchers in the country.

Mohammed Robayan, Deputy Minister of Technology at MCIT, stressed that this report represents an important step in strengthening the Kingdom’s position as a global hub for advanced technologies, and that the Kingdom seeks by focusing on innovation and investing in competencies and infrastructure, to build an integrated system that supports digital transformation and sustainable development.

Robayan called on those interested in the public and private sectors, especially academia and investors, to avail of this information to draw a roadmap that promotes innovation and contributes to realizing the goals of Saudi Vision 2030.

Data Centers are Key to Deep Tech Strategy

In 2021 Saudi Arabia’s Ministry of Communications and Information Technology announced new plans to ramp up national data center investment to $18 billion, with a goal to surpass capacity of 1,300-megawatts by 2030. Since the launch, numerous investment groups, infrastructure developers and global hyperscalers have announced plans for new data center and cloud regions in the Kingdom committing billions of dollars in investment.

These datacenters will need energy and not any energy, sustainable efficient energy sources. This is why HODLER INVESTMENTS, a UAE based investment company, headquartered in 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 will 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 with the aim of hosting global data center operators, reducing carbon emissions and contributing to the Digital Energy Infrastructure (DEI) Fund, a local decarbonization innovation fund.

Saudi Princess Nourah Al Faisal leads Web3 Blockchain hackathon for youth innovation

Saudi Princess Nourah Al Faisal leads Web3 Blockchain hackathon for youth innovation

Saudi Arabia recently hosted the NEXTG3N Hackathon, led by Her Royal Highness Princess Nourah Al Faisal. The event was held from January 9th until the 11th 2025 at Princess Nourah University in Riyadh. It gathered international innovators alongside Saudi talent to develop groundbreaking solutions at the crossroads of Web3 and gaming using decentralized solutions for learning environments. Selected innovations from the hackathon will be showcased at a side event during the World Economic Forum in Davos.

Her Royal Highness Princess Nourah Al Faisal, Chief Creative Director of Adhlal sponsored the event in collaboration with W3 ff Venture Builder. Adhlal brings deep expertise in empowering Saudi youth through creative ecosystems aligned with Vision 2030, while W3-ff leverages cutting-edge Web3 technologies and venture-building strategies.

The Hackathon included a track under the theme of Web3 and Identity, where participants were asked to create secure, decentralized, and personalized learning environments using Web3 technologies. The track question was “How can decentralized identities empower young learners and creatives in Saudi Arabia to securely access, develop, and share learning content?”

In an article published in Arab News, Princess Nourah was quoted as highlighting how blockchain could provide a secure space for young users fostering their engagement with digital platforms. Princess Nourah remarked on the significance of soft skills in preparing the youth for future challenges, and added: “When we think about the evolving landscape over the next few years, we must consider how to foster innovation and creativity among youth.”

The second track covered Future Skill Development. It centered on building future skills through immersive hackathon experiences.
How can we empower Saudi Arabia’s youth to develop future literacy, creative collaboration, and entrepreneurial thinking while solving real-world challenges?

While the third track covered Games to grow, where participants were asked to design engaging and innovative gaming experiences that enhance creative skillsets, promote problem-solving, and encourage design thinking. How can gaming be leveraged to accelerate the development of young designers in a fun and impactful way?

Speakers at the event included Princess Nourah; Hamad Al-Owaishiq, founder and CEO of the Saudi Youth Society; Tanja Ludwig from W3 ff Venture Builder in Germany; Dalia Samra-Rohte from the Algemeine Handels Kamer; and Xavier Prost from Veridos UAE, one of the event’s sponsors.

42.000,- SAR in prizes were distributed to winning the teams.