Powered by Qatar Central Bank, QFC launches its metaverse

Powered by Qatar Central Bank, QFC launches its metaverse

The Qatar Financial Centre (QFC) during the Web Summit event launched the QFC metaverse powered by Qatar Central Bank. The QFC metaverse builds on the success of the Digital Assets Lab and is designed to serve as an immersive digital platform for business engagement, collaboration and innovation.

QFC firms will be able to showcase their achievements, interact with global partners, and explore business opportunities. It will also act as a hub for virtual workshops, training sessions, and expert led discussion. Financial institutions, corporates, fintech firms, and startups will have the opportunity to connect, share insights, and drive innovation in an increasingly digitized world.

Addressing a press conference to announce the launch of QFC Metaverse, QFC CEO Yousuf Mohamed Al Jaida emphasized the significance of the initiative. He explained, “We see the QFC Metaverse as a gateway to the future of finance, a space where borders fade, partnerships flourish, and ideas can grow beyond what we thought possible. Through this platform, we will build a financial district and fintech hub that can easily be accessed by anyone from anywhere in the world.”

Al Jaida further highlighted that the QFC Metaverse is a core element of Qatar’s broader vision to drive digital transformation in the financial sector. “By harnessing emerging technologies, we are driving economic growth, fostering innovation, and laying strong foundations for thriving financial and digital sectors, positioning Qatar as a leader in these domains,” he added.

In a LinkedIn post, Aditya Kumar SinhaAditya Kumar Sinha, Head of Fintech and Digital Innovation at QFC noted, “We are proud to share that at Web Summit Qatar 2025, the Qatar Financial Centre (QFC) Authority officially launched the QFC Metaverse—a game-changing virtual platform designed to transform business engagement, collaboration, and innovation. He added that whether you’re an entrepreneur, investor, or innovator, the QFC Metaverse offers endless opportunities to collaborate and thrive.

DavosWeb3 Roundtable succeeded in bringing together blockchain Pioneers

DavosWeb3 Roundtable succeeded in bringing together blockchain Pioneers

The DavosWeb3 Roundtable successfully concluded its inaugural gathering in the heart of Davos, where 100 of the brightest minds in Web3 converged to shape the future of decentralized technologies. The event acted as a launchpad for visionary collaborations, groundbreaking insights, and tangible commitments toward building a more inclusive and innovative global ecosystem.

From seasoned blockchain pioneers to emerging Web3 entrepreneurs, delegates engaged in deep discussions on scalability, tokenomics, interoperability, decentralized finance (DeFi), and the evolving role of Web3 in driving economic transformation worldwide. By combining structured networking sessions and interactive roundtables, the roundtable created unprecedented opportunities for participants to forge meaningful connections and partnerships.

Four dynamic roundtables addressed core themes pivotal to the future of decentralization:
Roundtable 1: “Forget Slogans, Can Crypto Coexist with Fiat?”
Thought Leaders: Vikram R Singh, Bibin Babu, Himanshu Gulathi, Olav Chen
This roundtable explored how crypto and fiat could feasibly integrate to bolster financial inclusion, stability, and consumer trust.
Roundtable 2: “Web3 Stops Discussing ‘Use Cases’ During Bull Markets?”
Thought Leaders: Jan Camenisch, John Shipman, Yat Siu, Sandy Carter
Thought Leaders examined the cyclical tendency of the Web3 community to overlook real-world use cases when the market surges, emphasizing the importance of consistent innovation and user adoption beyond speculative hype.
Roundtable 3: “Is Bitcoin Living Up to Satoshi Nakamoto’s Vision?”
Thought Leaders: Aly Madhavji, Kapil Dhiman, Patrick B, Punith B
Experts assessed Bitcoin’s evolution—its core principle of decentralization, security, and trustlessness—while debating how the original vision continues to influence new protocols and financial models.
Roundtable 4: “What Trumponomics Could Mean to Cryptonomics?”
Thought Leaders: Harshal Madnani, Dayakar Reddy, Itay Azaraty, William Bao Bean
A forward-looking discussion on how macroeconomic policies and political shifts might interact with the rapidly evolving crypto landscape, including possible regulatory considerations.
Signing of the Davos Declaration

A highlight of the roundtable was the signing of the Davos Declaration, a pledge and charter affirming the Web3 community’s commitment to innovation, inclusion, sustainability, and integrity. Global Web3 leaders united under this historic document, underscoring a shared vision to nurture responsible growth across decentralized ecosystems.

Founding members of DavosWeb3 unveiled a visionary whitepaper titled “Ushering a New Billion into the Global System: The Next Frontier.” It proposes actionable strategies to accelerate global adoption of decentralized technologies and drive economic inclusion. Copies of the whitepaper will be distributed to media outlets, universities, trade bodies, and industry associations worldwide. To request a copy, please email: contact@davosweb3.com

The event organizers extended their heartfelt thanks to all sponsors, patrons, and delegates who made this landmark event possible. Leading Web3 organizations powering this Roundtable included: Antier, Aptos, DroomDroom, Ecotrader, Flex Ecosystem, Internet Computer (ICP), Kandola Network, OmniFlix, Paycio, Pertin-ant, Quranium, Reflexical, RhinoSpider, Social888, Surge, Syscoin, Unstoppable Domains, Xade Finance, Xai Games.


“The Web3 revolution is here, and DavosWeb3 Roundtable is more than just an event—it’s a movement,” said Ajeet Khurana, founding member of DavosWeb3. “By gathering the most influential minds in Web3, we have collectively charted a course for a future shaped by inclusion, innovation, and integrity.”

The community formed at the Roundtable will continue to collaborate on projects, partnerships, and educational efforts aimed at ushering in the next wave of decentralized solutions. Future events are already being planned to sustain the momentum generated in Davos.


For more information, or to be part of the continuing DavosWeb3 initiatives, please contact: contact@davosweb3.com

UAE Tokinvest partners with DSG Group in New Zealand to tokenize racehorses

UAE Tokinvest partners with DSG Group in New Zealand to tokenize racehorses

UAE regulated Tokinvest, a marketplace for real-world asset tokenization, and DSG Group, a New Zealand-based blockchain powered tokenization platform, have partnered to advance tokenized investment opportunities unlocking new asset classes and provide investors with access to exclusive, high-value investments.

Under the agreement, Tokinvest and DSG will work together to develop tokenized investment opportunities across multiple sectors, with an initial focus on tokenized racehorses, stables, and siring rights. Traditionally, racehorse ownership has been limited to wealthy investors or syndicates, but this partnership aims to change that by providing a regulated, secure and transparent framework for fractional ownership.

Racehorse investment has historically been an exclusive market, accessible only to high-net-worth individuals or small syndicates. By leveraging blockchain technology, Tokinvest and DSG are introducing a new level of accessibility, allowing investors to participate in this otherwise illiquid asset class. Tokenisation offers security in ownership rights, simplifies asset management, and enhances liquidity by making fractional shares of racehorses transferable.

Ryan Johnson-Hunt, Co-Founder & CEO of DSG Group, commented, “At DSG, we are committed to transforming capital markets through blockchain. Our partnership with Tokinvest is a natural step forward in building a global network for tokenized assets. Racehorse ownership is just the beginning – together, we’re unlocking new asset classes and expanding access to investment opportunities that were previously out of reach for most investors.”

The agreement will bring together DSG’s expertise in tokenization-as-a-service, combined with Tokinvest’s marketplace for fractional asset ownership, will accelerate the adoption of digital securities across multiple jurisdictions. Both companies will work closely with local regulators and strive for high standards of regulatory compliance.

Scott Thiel, CEO & Co-Founder of Tokinvest, added, “We believe blockchain technology has the power to break down barriers in investment markets. Partnering with DSG allows us to expand our offering and bring new, exciting investment opportunities to our community. Tokenizing racehorses is just the beginning – together, we are laying the groundwork for a broader tokenized asset ecosystem.”

DSG Group recently partnered with Evolution Stables to tokenize racehorse ownership via digital syndication. This initiative, conducted under the supervision of New Zealand Thoroughbred Racing (NZTR), showcases how blockchain technology can introduce transparency, liquidity, and accessibility to traditionally exclusive asset classes. By enabling fractional ownership of high-value assets like racehorses, DSG is paving the way for similar tokenization models across other alternative investments, reinforcing the potential of blockchain-powered capital markets.

Tokinvest Continues to partner with global players

This is not the first partnership, Tokinvest, partnered recently with HKVAX, a crypto asset trading platform to transform the global digital asset markets by linking Hong Kong’s established financial infrastructure with Dubai’s rapidly expanding virtual asset ecosystem.

In addition Tokinvest, and InvestaX, a tokenization platform based in Singapore, also partnered to enhance global accessibility to asset-backed and rights-linked virtual assets.

Cryptoverse Warsaw will step into the future of Blockchain and crypto

Cryptoverse Warsaw will step into the future of Blockchain and crypto

Cryotoverse Warsaw has announced its upcoming conference on May 21-22, in WarSaw Poland. The organizers will step into the Future of Blockchain & Crypto.
The Cryptoverse Warsaw Conference is a meeting place of innovation, technology and vision with more than 80+ world class speakers that include the COO of BlackRock Rob Goldstein, Paolo Ardoino, CTO of Tether and Bitfinex, Cathie Wood, CEO of Ark Invest, Tim Draper, Founder of Draper Associates, Gavin Wood, Founder of Polkadot, Jeremy Allaire, CEO of Circle, John Wi President of Avalanche, and Raul Pal CEO of Real Vision among many others.

More than 2,000 professional will converge to discuss Blockchain’s Future and global trends, tokenization of real world assets, AI’s role in cryptocurrency and various other topics.

Cryptoverse is one of the biggest blockchain and crypto conferences in Europe which commenced in 2021.

Dubai’s regulator VARA warns against MKAN Coin

Dubai’s regulator VARA warns against MKAN Coin

Dubai’s Virtual Assets Regulatory Authority (VARA) has issued an alert regarding MKAN Coin, which operates as a crypto trading exchange, based out of DMCC. The coin which uses the domain www.mkancoin.com has been advertising virtual asset activities accessible within the UAE but with no regulatory approval.

VARA has instructed MKAN Coin to cease all marketing activities and has issued a fine.

According to the crypto regulator, engaging with unlicensed platforms exposes users to significant financial risk and potential legal consequences for violating regulatory requirements. The regulator notes that in accordance with Dubai Law No. (4) of 2022 and Cabinet Resolution No. 111/2022, all virtual asset service providers must be licensed to operate legally in this jurisdiction. MKAN Coin does not meet these legal requirements and is not authorized to provide any virtual asset services in/from the Emirate of Dubai.

Furthermore VARA advised consumers and investors in the UAE to avoid using MKAN Coin, and to exercise caution when considering interactions with unregulated platforms. Users should be aware that access to the MKAN Coin website has been suspended voluntarily, and it is recommended to take immediate necessary measures to ensure protection of user assets.

This is not the first time that Dubai’s regulator has warned against unregulated VASP activities. In April 2023, VARA issued an alert and warning with regards to virtual asset exchange OPNX (opnx.com) which launched on April 4th 2023.

Then in October 2023, it warned investors and market participants of the unauthorized issuance, marketing, and retail distribution of Islamic Coin (ISLM) from Bored Gen (BG) DMCC based out of Dubai UAE.

Most recently in December 2024, the regulator issued alerts for seven crypto entities claiming to be registered and licensed in Dubai. The entities include, Koto Crypto, Finchain, Crypto Force, Coin Cashy, BTC Bay, XT, and Stabit.

Circle’s USDC and EURC available to 600 entities in Dubai’s DIFC

Circle’s USDC and EURC available to 600 entities in Dubai’s DIFC

Dubai’s DIFC ( Dubai International Financial Centre) has officially approved Circle’s stablecoins USDC and EURC into its crypto token regime which will allow these stablecoins to be used by more than 600 entities in DIFC.

The USDC and EURC will be the first approved stablecoins in DIFC, after DIFC approved crypto tokens that included TON, XRP, Bitcoin, Ethereum, and others.

Entities in DIFC will be able to use the stablecoins USDC and EURC to make payments, treasury management and other financial applications.

Circle in December 2024 incorporated its entity in ADGM in Abu Dhabi , as part of its strategic expansion into the Middle East and Africa. It also entered into a partnership with LuLu Financial Holdings (‘LuLuFin’), and its affiliates, one of the largest financial services conglomerates in the region, to facilitate remittances and cross-border payments with USDC, Circle’s fully-reserved digital dollar.

“The DFSA’s approval of USDC and EURC as recognized crypto tokens within the DIFC is yet another validation of our constructive approach to regulatory and policy engagement,” said Dante Disparte, Chief Strategy Officer and Head of Global Policy and Operations at Circle. “As the first stablecoins to receive this designation, USDC and EURC continue to set the global standard for transparency, compliance, and utility. This milestone aligns with our mission to make digital dollars and euros more accessible, interoperable, and useful for businesses, developers, and financial institutions worldwide.”

Central Bank of UAE released its stablecoin payments regulation in 2024

The importance of USDC being accepted into DIFC cannot be viewed without looking at the bigger picture of stablecoin regulation in the UAE. The Central Bank while noting that only AED backed stablecoins could be used for purchasing products and services within the UAE, it did note that UAE regulated stablecoins could be used for purchasing of virtual assets and that these stablecoins could be regulated by DIFC, ADGM or VARA.

Already AE Coin has been regulated in the UAE as an AED backed stablecoin and Tether is seeking to receive a license for its AED stablecoin.

AFS to offer stablecoin payment platform for merchants in UAE

AFS to offer stablecoin payment platform for merchants in UAE

Arab Financial Services (AFS), regulated by the Central Bank of Bahrain and Egypt, also holding a retail payment license in the UAE has partnered with Ternoa Blockchain to launch stablecoin and crypto payments across POS ( Point of Service) counters for UAE merchants. The partnership will expand across the GCC.

Ternoa, is a fast, secure & cost-efficient PayFi network that is designed to onboard billions of retail customers into crypto. Ternoa as per the announcement will use decentralized consumer finance protocol, Athar, a secure and cost-efficient PayFi network to onboard UAE merchants into the crypto and stablecoin era. Athar will enable stablecoin payments at Point-of-Sales (PoS) terminals.

AFS is owned by a total of 37 banks and financial institutions and services over 60 banks in more than 20 countries across the Middle East and African region.

The Athar protocol will make crypto payments easier and more accessible for every day transactions with AFS deploying the Athar solution for merchants in UAE.

Samer Soliman, AFS CEO noted that AFS is committed to driving innovation in the payments industry and expanding access to seamless, secure, and future-ready solutions.

He stated, “By integrating stablecoins and decentralized finance, we are unlocking new possibilities for merchants and consumers across the UAE, paving the way for the broader adoption of digital payments in the region.”

Ternoa CEO, Mr. Mickael Canu added, “The next big step for blockchain and digital finance is making it useful in everyday life. The payments and financial services industries are massive and bringing them onto Ethereum will open up exciting new possibilities. Our partnership using Athar with AFS will make digital payments faster, more secure, and accessible.”

AFS received UAE Retail Payment Service License in 2024

AFS recently made a strategic expansion into the United Arab Emirates (UAE). The move followed the successful acquisition of a Retail Payment Services License – Category II from the Central Bank of the UAE by Arab Financial Services L.L.C, allowing AFS to introduce a comprehensive suite of innovative and secure payment solutions tailored to the country’s dynamic financial landscape.

At the time Soliman noted that the license was a pivotal juncture in their regional expansion strategy. He noted that they were excited to launch innovative payment solutions in the country.

“Expanding into the UAE is a tremendous opportunity for us to bring our market-leading payment and fintech capabilities to a country that values innovation and security in digital financial services,” said Rizwan Khan, Managing Director for AFS UAE and Oman. “We are delighted to partner with local businesses and regulatory bodies to help nurture an inclusive digital ecosystem that meets the fast-evolving needs of the UAE and contribute to strengthening the country’s standing as a global fintech hub.”

UAE Central Bank passed stablecoin payments regulations

The UAE Central Bank in 2024 passed its stablecoin payment regulations that allowed regulated AED-backed stablecoins to be used inside the country for the purchase of products and services.

UAE based XDC network launch money fund tokens with Archax

UAE based XDC network launch money fund tokens with Archax

UAE based XDC Network, an enterprise-grade Layer-1 blockchain, have launched the first money fund tokens on its platform in collaboration with Archax, the FCA regulated digital asset exchange, broker and custodian.

As per the announcement this builds on the previous partnership announcement between XDC and Archax for real-world asset (RWA) tokenization. The first fund tokens that are live represent four of the world’s largest MMFs from providers including abrdn, Fidelity International and State Street, and will be followed by others from the 100+ available through Archax from a variety of asset managers.

Tokenized access to money market funds addresses a growing demand from institutional investors for regulated, digital-first financial products. There are currently $11.5 billion tokenized RWAs on-chain with some projections estimating the value could reach $16 trillion by 2030. By bringing these established investment vehicles onto the blockchain, XDC Network and Archax are creating new opportunities for improved liquidity, faster settlement, and reduced operational costs.

“Providing digital representations of major MMFs opens up a potential new audience for these types of yield-bearing products that historically have been challenging for some to access,” said Keith O’Callaghan, Head of Asset Management and Structuring at Archax. “We’re excited to hit this milestone with XDC Network, a firm that is poised to become one of the railways of the future of the finance industry.”

The implementation leverages XDC Network’s delegated proof-of-stake consensus mechanism, enabling transactions with sub-second finality and near-zero gas fees. The platform’s enterprise-grade infrastructure aims to meet compliance with institutional requirements for security, scalability, and regulatory reporting.

“With our platform’s robust performance and functionality, we have the ideal protocol for real world asset tokenization for institutions who want to work with regulated entities like Archax,” said Angus O’Callaghan, Head of Trading and Markets at XDC Network. “We’re excited to be taking this next step in our partnership with Archax and unlock access to some of the world’s largest MMFs with transparency and efficiency.”

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

B Capital establishes office in Qatar to support Fintech businesses

B Capital establishes office in Qatar to support Fintech businesses

B Capital today announced that it has established a new office in Doha as part of its expansion into the Middle East. A global multi-stage technology investment firm focused on enterprise, fintech, healthcare and climate sectors, B Capital plans to bring its global expertise to help advance innovation in the region. In addition, the firm will partner with Qatar Investment Authority (“QIA”), the sovereign wealth fund of the State of Qatar, to help drive these efforts.


“B Capital has been dedicated to identifying and supporting visionary entrepreneurs across North America and Asia, and we are attracted to the Middle East as a rapidly emerging hub for innovation,” said Raj Ganguly, Co-Founder and Co-CEO of B Capital. “With our deep global expertise, particularly in AI, and our commitment to backing transformative companies, we look forward to helping the region’s most innovative businesses shape the future of technology.”

B Capital invests globally in exceptional founders and businesses driving innovation through technology. With over $8 billion in assets under management, the firm targets seed to late-stage growth technology investments. B Capital’s value-add platform, as well as its strategic partnership with The Boston Consulting Group, equips entrepreneurs with the tools and resources to scale quickly, expand into new markets and build market-leading businesses.

Dubai crypto regulator monitoring and tracking Bybit hack situation

Dubai crypto regulator monitoring and tracking Bybit hack situation

Dubai Virtual Assets Regulatory Authority has confirmed to Lara on the Block that they are actively monitoring the ByBit hack situation as the matter evolves and are closely tracking it until it stabilizes. The statement was made after Bybit, the second largest crypto exchange globally was hacked on February 21st 2025, losing $1.4 billion in Eth.

As per Bybit, whose headquarters are based in Dubai UAE, the exchange detected unauthorized activity within one of their Ethereum (ETH) Cold Wallets during a routine transfer process. The transfer was part of a scheduled move of ETH from their ETH Multisig Cold Wallet to their Hot Wallet. Unfortunately, the transaction was manipulated by a sophisticated attack that altered the smart contract logic and masked the signing interface, enabling the attacker to gain control of the ETH Cold Wallet. As a result, over 400,000 ETH and stETH worth more than $1.5 billion were transferred to an unidentified address.

It was later found that the Lazarus Group out of North Korea were responsible, and since then have been transferring ETH to new addresses through ChainFlip.

VARA spokesperson told Lara on the Block, ” Bybit has not been granted a regulatory licence under VARA, and is currently working towards fulfilling the stringent licensing requirements to secure a VASP operating permit in Dubai. As part of VARA’s rigorous due diligence, we have been actively monitoring the situation since the hack on ByBit was confirmed last night – this remains a highly evolving matter that we will continue to closely track until it stabilizes.”

Bybit headquartered in Dubai UAE

Bybit had set up its headquarters in Dubai UAE back in 2023, citing it as one of the most progressive crypto jurisdictions. The crypto exchange then received its in-principle license in September 2024 and is still in the process of receiving its full license. Bybit has been very active in the UAE partnering and working with entities to increase crypto awareness and investments in the ecosystem.

Bybit in turmoil after $1.4 billion hack

The Bybit hack is the biggest loss in the entire history of crypto exchanges. The exchange lost 400,000 ETH and stETH worth more than $1.5 billion. What is more interesting is since the hack the exchange has seen withdrawals of more than $5 billion. According to Bybit CEO Zhou speaking in an X space, ” Fortunately the company’s assets are far greater than $1.5 billion, there is a cold wallet in safe with nearly $3 billion in USDT, and fortunately this has not been stolen.” He adds though that, “if more than $10 billion was stolen, it might be necessary to consider selling the company.”

Cryptocurrency exchange Bybit has maintained reserves exceeding its liabilities despite suffering a $1.4 billion hack and an overall $5.3 billion decline in total assets, according to DefiLlama data. Bybit processed more than 350,000 withdrawal requests within 10 hours, completing 99.9% of them by 1:45 am UTC, Bybit co-founder and CEO Ben Zhou noted.

“Although we have been hit by the worst hack possibly in the history of any medians (banks, crypto, finance), But all Bybit functions and product remain functional, the Whole team had been awake all night to process and answer client questions and concerns,” Zhou wrote.

One of the exchange updates stated that they had reported the case to the appropriate authorities, and have worked quickly with on chain analytics such as Chainanalysis, and Hacken to identify and demix the implicated addresses.

Global crypto community shows solidarity with Bybit

In a show of solidarity, other crypto exchanges such as Bitget, Binance, OKX, and even some Chinese cryptocurrency leaders are actively transferring ETH to Bybit to support its liquidity. Even Huobi co-founder Du Jun deposited 10,000 ETH to Bybit as well as founders of Conflux and Mask Network.

In a recent Xpost Zhou also thanked MEXC, Solana, TON, Blockchain UAE, Ghaf Capital in UAE as well as Tether and Galaxy Digital among others.

Additionally according to Ethescan, the Mantle powered mETH Protocol has salvaged 15,000 cmETH from Bybit Exploiters worth about $2.76 million.

Updated at 8:00 pm Dubai UAE time