UAE Fuze digital assets solutions in Turkey with Aktif ventures

UAE Fuze digital assets solutions in Turkey with Aktif ventures

UAE Fuze, a digital assets infrastructure provider has partnered with Turkish based Aktif Ventures, that invests, advices and offers Fintech technologies. Aktif Ventures will utilize the digital asset solutions offered by Fuze to its product portfolio.

With this partnership, Aktif Ventures will be able to provide OTC solutions to CMB intermediaries and banks in the field of large-scale corporate acquisitions and asset management, while also offering KYC and custody processes that comply with the legislation in cooperation with the institutions it is integrated with.

Yasemin Evsahibioğlu, General Manager of Aktif Ventures, said, “As Aktif Ventures, we continue to develop our fintech ecosystem with our leading API marketplace Apilion. I can say that we have developed our new term strategy by focusing on the financial technologies of the future and have achieved an important milestone in our sector with our partnership with Fuze Finance. I believe that with this partnership, we will take on a pioneering role in the crypto field, which is one of the new actors in the fintech world, and make a difference with our products.”

Fuze Finance CEO Mo Ali Yusuf added, “Fuze, has become one of the strongest financial institutions in the region, and it will continue its success in the Turkish market. With our unique DaaS (Digital Asset as a Service) infrastructure, high-volume crypto trading services, OTC services and advanced custody solutions that we offer to financial institutions, we aim to meet the most critical needs of the market with the most reliable and innovative infrastructures.”

The collaboration will leverage Fuze’s suite of offerings, making crypto trading, liquidity management, OTC solutions, wallet/custody services, and real-time portfolio management more accessible than ever.

Banks and intermediaries can now access a secure, fully compliant infrastructure for large-scale institutional transactions, all while seamlessly integrating KYC and custody processes. No hassle, no complexity – just fast, secure, and scalable solutions for the digital age.

Earlier in the year UAE regulated CoinMENA and Fuze were the first crypto exchanges in MENA to be onboarded onto Mastercard Crypto Credential platform that allows crypto exchange users to send and receive cryptocurrencies using simple aliases instead of complex blockchain addresses.

Qatar Investment Authority funds Rasmal Ventures

Qatar Investment Authority funds Rasmal Ventures

Qatar Investment Authority has funded Rasmal Ventures LLC as part of its Fund of Funds Program. The funding is received into Rasmal Venture’s inaugural, home-grown venture capital fund, Rasmal Innovation Fund I LLC, which targets high-performance startups and scales up across a variety of innovative technology sectors, including fintech, B2B SaaS, HealthTech and AI.

Rasmal Innovation Fund I LLC is the first fund announcement as part of QIA’s $1 billion Fund of Funds program announced as open to applicants in February 2024.

To date, the Rasmal Innovation Fund I LLC has closed funding from QIA’s Fund of Funds, corporates, family offices and individual high-net-worth investors with an aim to reach $100 million in investment commitments. The fund is only open to professional investors as defined in QFCRA regulation.

Alexander Wiedmer, Co-Managing Partner of Rasmal Ventures, said, “As the first private VC fund based in Doha, we have forged strong partnerships with leading Qatari institutions to work closely with exceptional founders, stimulate innovation, and meet the region’s unique needs. While still in the early stages of capital deployment, we take pride in our first investments in proprietary tech startups. The trust QIA and our other investors placed in us is a testament to our team’s capabilities and dedication. We will continue to grow our presence across the region and execute our highly selective investment strategy to establish ourselves as a key player in the MENA VC landscape.”

Tokinvest and HKVAX crypto exchange partner for tokenized investments

Tokinvest and HKVAX crypto exchange partner for tokenized investments

UAE regulated, Tokinvest, real-world asset tokenization marketplace, and HKVAX, a crypto asset trading platform, have partnered to transform the global digital asset markets by linking Hong Kong’s established financial infrastructure with Dubai’s rapidly expanding virtual asset ecosystem. The alliance seeks to pave the way for a new era of tokenized investments.

By bringing together HKVAX’s SFC-regulated platform in Hong Kong and Tokinvest’s VARA-licensed broker-dealer operations in Dubai, this collaboration establishes a cross-regional tokenization corridor. The alliance will enable seamless token offerings, asset structuring, and secondary market trading, providing institutional investors with greater market accessibility while ensuring regulatory compliance across jurisdictions.

The partnership is set to drive cross-border liquidity, enhance market efficiency, and unlock new investment opportunities in tokenized real-world assets (RWAs), such as real estate, private equity, and alternative assets. In an industry that is still in its early stages, this strategic collaboration marks a significant step towards mainstream adoption of regulated digital asset markets.

“This strategic bridge between Hong Kong and Dubai represents more than just a partnership – it’s a gateway to seamless digital asset flows between two of Asia’s most dynamic financial centers.” said Sam Fok, Co-founder and COO of HKVAX. “Through our collaboration with Tokinvest, we’re creating new pathways for institutional investors while upholding the highest regulatory standards in both markets.”

Scott Thiel, CEO of Tokinvest, added, “Tokenisation is the future of finance, but to reach its full potential, we need strong regulatory frameworks and seamless market connectivity. This partnership with HKVAX creates a vital link between two global financial powerhouses, enabling investors to access previously untapped opportunities with greater security, liquidity, and efficiency. The future of real-world asset tokenisation is borderless, and this is just the beginning.”

UAE Savor Connect introduces AI and Blockchain ecosystem

UAE Savor Connect introduces AI and Blockchain ecosystem

Savor Connect, a food delivery and dining platform, has introduced an AI and blockchain-powered ecosystem to enhance customer engagement, streamline business operations, and promote sustainability in the food industry.

As per the announcement, the platform integrates artificial intelligence, blockchain technology, and a rewards-based system to create a seamless and secure experience for restaurants, influencers, riders, and consumers.

Developed in partnership with Savour Kitchen & Cocktails and Octaloop Technologies, Savor Connect offers a technology-driven approach to food delivery and dining, prioritizing transparency, efficiency, and community engagement.

Savor Connect utilizes AI-driven insights to provide businesses with data-backed recommendations on customer preferences, allowing them to tailor promotions and enhance engagement. Consumers benefit from personalized dining suggestions, while influencers and content creators gain new monetization opportunities by sharing their experiences within the platform.

The integration of blockchain technology ensures security and transparency in transactions. The platform utilizes $SAV tokens, enabling secure, seamless, and traceable payments. Riders also benefit from AI-optimized route planning to improve delivery efficiency.

As part of its broader mission, Savor Connect introduces a food waste reduction initiative, allowing restaurants to offer surplus food at discounted rates or donate meals to individuals in need. This initiative aims to minimize food waste while making meals more accessible to underserved communities.

“Savor Connect is designed to bring efficiency, security, and inclusivity to the food industry,” said Jesse Akor, CEO & Founder of Savor Connect. “Our goal is to foster a more connected and transparent ecosystem where businesses, consumers, and influencers can thrive while also contributing to meaningful social impact.”

Restaurants and food businesses gain access to AI-driven insights, customer engagement tools, and targeted promotions.
Influencers and content creators can earn rewards for sharing dining experiences and engaging with food enthusiasts. Riders benefit from optimized delivery routes and performance-based incentives. Consumers receive exclusive deals, loyalty rewards, and personalized recommendations.

Savor Connect also introduces NFT-powered premium memberships, providing users with additional benefits such as early access to exclusive dining deals, premium influencer content, and platform-based financial services. Members can stake NFTs and $SAV tokens to access platform-based loans and flexible payment options.

UAE based Brevan Howard Digital deploys $20 million of assets on Kinto DeFi L2 platform

UAE based Brevan Howard Digital deploys $20 million of assets on Kinto DeFi L2 platform

The UAE branch of Brevan Howard Digital has deployed $20M in assets on Kinto, a Blockchain DeFi financial portal which rewards active participants such as traditional financial entities who deposit assets on-chain with token emissions.

As per the press release, Kinto enables financial institutions to deploy capital on-chain while meeting their strict legal and compliance requirements. Kinto is the only L2 that has native KYC and AML at the blockchain level, default wallet insurance and extensive security features.

Kinto’s mining program rewards active participants who deposit assets on-chain with token emissions. The mining program will be active for 10 years, with rewards decreasing over time. Brevan Howard Digital, through its Abu Dhabi branch, became one of the first major traditional financial firms to leverage its digital assets to participate in Kinto’s mining program.

Kinto’s CEO and co-founder, Ramon Recuero, believes that digital asset management platforms like Brevan Howard Digital are ahead of the curve and that participation in on-chain in programs like Kinto’s mining program will steadily increase. He expects similar institutions to become more prominent within the ecosystem over the coming months: “Institutions have been waiting for two things: regulatory clarity and compliance features. Now, through Kinto, financial institutions don’t need to wait any longer.”

Regulated crypto exchanges and wallets can advertise on google targeting UAE

Regulated crypto exchanges and wallets can advertise on google targeting UAE

Google announced that it has updated the cryptocurrencies and related products policy to clarify the scope and requirements for the advertisement of complex speculative financial products specifically in UAE. The company is allowing regulated crypto exchange and wallets to target UAE customers.

As per Google, starting February 26, 2025, advertisers offering cryptocurrency exchanges and software wallets targeting the United Arab Emirates may advertise those products and services when they meet the following requirements and are certified by Google.

The requirements are that cryptocurrency exchanges and crypto wallets targeting UAE users will need to be licensed by either the Financial Services Regulatory Authority (FSRA) out of ADGM in Abu Dhabi, Dubai’s Virtual Asset Regulatory Authority (VARA), or the Dubai Financial Services Authority (DFSA) out of DIFC. It adds that any other local legal requirements must also be complied with.

Interestingly crypto exchanges or crypto wallets license out of RAK DAO were not mentioned.

In the announcement Google notes, “As a reminder, we expect all advertisers to comply with the local laws for any area that their ads target. This policy will apply globally to all accounts that advertise these financial products.”

If advertisers violate the policy their accounts will be suspended without prior warning. A warning will be issued, at least 7 days, before any suspension of account.

This means that crypto exchanges such as Binance, OKX, CoinMENA, BitOasis, Crypto.com, M2 and others will be able to start advertising campaigns on Google targeting the UAE users. It also means that crypto wallets such as HexTrust, BackPack, Liminal, Komainu and others will also be able to.

Saudi Ministry of IT partners with Blockchain accelerator Adaverse

Saudi Ministry of IT partners with Blockchain accelerator Adaverse

Adaverse, Venture Fund and Cardano Blockchain accelerator has partnered The Saudi Arabian Ministry of Communications and Information Technology.

As per the press release, the partnership aims to accelerate the development of Web 3 technologies and promote innovation in blockchains in the Kingdom of Saudi Arabia. This collaboration will leverage the Ministry’s leadership in national digital transformation and Adaverse’s expertise in blockchain investments and technology infrastructure. It aims to equip local talent with access to the latest global advancements in this field.

Vincent Li, CEO of Adaverse Saudi Arabia, stated, “We take pride in contributing to Saudi Arabia’s digital transformation by sharing our global expertise and resources. This partnership will help build a strong Web3 community in the Kingdom and drive innovation in blockchain technology.”

The partnership will include training and awareness programs to help local talent gain expertise in Web3 and Blockchain. It will also foster innovation with community meetups and hackathons and provide access to cutting edge technologies to support KSA’s tech ecosystem.

Additionally Adaverse will work with the Minsitry to establish startup accelerators in Web3 sector.

This announcement coincides with the new Web3 alliance that has been formed in KSA . Animoca Brands, SandBox, and Outlier Ventures announced that they have united key Blockchain and digital innovation players towards to goal of driving adoption and Web3 technologies aligning with Saudi Arabia’s Vision 2030.

UAE Blum decentralized trading platform raises $5 million

UAE Blum decentralized trading platform raises $5 million

UAE unregulated Blum, a decentralized trading platform that operates via Telegram has raised $5 million in a pre-seed and seed round. The round was led by Gumi Cryptos Capital and backed by YZi labs, Spartan Capital, No Limit Holdings, OKX Ventures, TOP.co, Bitscale Capital, and Wintermute Ventures

With the funding, it aims to enhance its infrastructure, improve trading functionalities, and expand its operations across multiple blockchain networks offering users greater flexibility to manage their digital assets.

Additionally, it aims to focus on developing its intelligent trading bot which has attracted over 1 million users. The platform sees this as a reflection of a growing interest in seamless and efficient trading solutions.

Since its launch in 2024, Blum aims to grow in the Web3 space. Currently, its Telegram community containing over 32 million members and platform has 2.2 million registered 2.2 unique wallet activity.

The company transitioned from a “Click to Earn” model to a “Trade to Earn” strategy which is sustainable in the long-term. With this new approach, it aims to encourage users to actively participate in trading rather than simply engaging in passive interactions.

Gleb Kostrav, Blum’s CEO, and Vlad Smirkes, CMO, both emphasized that this funding is not limited to capital alone but also includes partnerships to enhance the platform’s capabilities. Additionally, they added that this move is aligned with Blum’s goal of establishing a more efficient and secure trading environment for users.

UAE Phoenix Group announces crypto mining revenues of $107 million

UAE Phoenix Group announces crypto mining revenues of $107 million

Phoenix Group PLC (ADX:PHX), ADX-listed blockchain and crypto mining entity saw crypto mining revenues of $107 million in 2024, compared to $32 million in 2023 and $5.4 million in 2022. This represents a1852% increase over two years.

The company’s total gross revenue across all verticals reached $206 million. Phoenix Group’s proactive operational efficiencies and strategic initiatives, including global expansion and diversification, have paved the way for sustained profitability and growth.

Commenting on the 2024 results, Munaf Ali, CEO & Co-Founder, stated, “These results are a testament to our unwavering commitment to innovation and strategic growth on a global scale. The past year has been pivotal for Phoenix Group, marked by significant expansion and enhanced profitability. We are not simply navigating the digital asset revolution – we are shaping it. With a strong foundation and a clear vision, we are confident in delivering continued value to our shareholders and stakeholders worldwide.”

The company achieved a total comprehensive income of $ 219 million and a net profit after tax of USD 167 million. Total assets stood at $962 million, along with earnings per share (EPS) recorded at $0.028, reinforcing Phoenix Group’s continued profitability and shareholder value growth.

Some of the reasons for the increase include improved profitability from self-mining. Gross margins rose to 24% in Q4 2024, up from just 5% in Q3 2024, driven by an average 37% increase in Bitcoin price and a 6% improvement in efficiency improvement mainly coming from sites in the US and Canada. In addition Phoenix Group also advanced its crypto mining operations to Ehtiopia.

In addition, processing power maintained a robust contribution of 15.0 EH/s to the Bitcoin network, with its market share holding steady at 1.9%. The company’s preliminary results remain subject to external audit, with audited consolidated financial statements expected by February 14, 2024.

Abu Dhabi headquartered Soter digital asset insurer closes Series A round

Abu Dhabi headquartered Soter digital asset insurer closes Series A round

Abu Dhabi headquartered, Soter Insure, a provider of specialized digital asset insurance products tailored to the digital asset economy, has closed its Series A funding round, led by Galaxy, with participation from Brevan Howard Digital, Karatage, Token Bay, Pharsalus and others.

Soter headquartered in Abu Dhabi also operates out of Bermuda, with offices in London, New York and Dubai, it was also incubated by UAE based Further Ventures and WebN Group.

The company offers specialized digital asset insurance products for financial institutions, including Asset Loss, Directors & Officers (D&O), and Smart Contract Failure coverage, uniquely denominated in both fiat and native digital assets.

The company as such offers comprehensive insurance solutions tailored to the unique risks of decentralized technologies.

As per the press release, the investment will support Soter Insure’s expansion, bolstering its underwriting and technology teams to scale operations across key markets.

“Our mission at Soter is to set a new standard for risk management in the digital assets space. We are proud to have the support of Galaxy and our other Series A investors as we work to build innovative insurance products that meet the unique needs of the market. With this funding, we’ll continue to expand our offerings and grow our footprint globally, providing clients with trusted and transparent risk management solutions,” said Henson Orser, Founder and CEO of Soter Insure.

Mike Novogratz, Founder and CEO of Galaxy, added, “Galaxy is excited to support Soter Insure in their mission to bring innovative insurance solutions to the digital asset ecosystem. Their tailored approach to risk management meets a crucial industry need, empowering digital asset holders and operators with confidence. We are excited to contribute to their growth and global expansion.”