UAE Changer crypto custodian and AI DLT startup Bitgrit to unlock AI on Chain

UAE Changer crypto custodian and AI DLT startup Bitgrit to unlock AI on Chain

UAE regulated Changer,a digital asset custodian and Bitgrit, a global startup working to democratize AI who recently registered their DLT Foundation at ADGM, have partnered to advance the Distributed Ledger Technology (DLT) Foundation ecosystem in Abu Dhabi Global Market (ADGM), to unlock new frontiers for “AI-on-chain” technology.

Changer, known for its ultra-secure custody platform for managing digital money and assets, will join forces with Bitgrit, which leverages its global network of over 40,000 AI developers to enable companies to crowdsource and license innovative AI solutions. Together, they aim to power a decentralized AI economy where developers, enterprises, and institutions can securely build, monetize, and trade AI models on the blockchain, right here in Abu Dhabi.

Wang Hao, CEO of Changer, stated, “This is a pivotal moment. Changer is dedicated to supporting ADGM’s DLT Foundation – the world’s first comprehensive framework for blockchain foundations, DAOs, and Web3 entities. We provide secure, regulated digital asset custody and a seamless infrastructure for tokenized ecosystems. With Bitgrit, we are forging new standards for transparency, efficiency, and global cooperation in the digital age.”

The partnership will initially see Changer provide custody services for Bitgrit’s native BGR tokens. It will then expand to secure AI models and datasets tokenized on Bitgrit’s BGR Network. This capability is crucial for creating smooth and secure interactions between traditional finance, cryptocurrency, and the burgeoning AI economy, boosting security, transparency, and worldwide appeal.

Kazuya Saginawa, CEO of Bitgrit, underscored the partnership’s strategic vision, “Teaming up with Changer is a game-changer for Bitgrit. Their trusted custody solutions allow us to confidently scale our decentralized AI ecosystem and position Bitgrit as a pioneer in the AI-on-chain revolution. This alliance solidifies our mission to securely bring advanced AI onto the blockchain, which will create immense value for developers, businesses, and investors across the globe.”

The event also served as an official announcement for the launch of the BGR Network by Bitgrit’s COO Saksham Kukreja. The BGR Network is a purpose-built blockchain ecosystem for AI applications. It allows AI models and datasets to be securely tokenized, owned, and traded on-chain, offering unprecedented transparency, ownership, and monetization avenues for AI creators and enterprises. Its ability to connect with other established blockchain systems makes it a pioneering infrastructure for the next wave of AI development.

Saksham Kukreja COO of Bitgrit added, “Our collaboration with Changer is fundamental to establishing a trusted, secure, and regulatory-compliant AI economy on the blockchain. This is not only a major achievement for Bitgrit but also a compelling example for the global Web3 community of how regulated partnerships in progressive jurisdictions like ADGM can catalyze sustainable and truly impactful innovation.”

The cooperation between these two regulated firms within ADGM underscores how supportive regulatory environments can powerfully drive innovation, further cementing Abu Dhabi’s position as a global leader in the advancement of blockchain and artificial intelligence.

Binance lists World Liberty Financial USD1

Binance lists World Liberty Financial USD1

Binance the leading global crypto exchange, which holds a license both in the UAE and Bahrain within the MENA region, and which recently received a $2 billion investment from MGX an Abu Dhabi technology investment company, has announced the listing of World Liberty Financial USD (USD1) on May 22nd 2025. Binance listed World Liberty Financial USD (USD1) and opened trading for the following spot trading pair USD1/USDT. Users can now start depositing USD1 in preparation for trading.

One day prior Donald Trump’s crypto venture World Liberty Financial launched its stablecoin on Kucoin which was recently banned from the United States after admitting to violating anti-money laundering laws and agreeing to pay a $300 million fine.

USD1 Listing Fee: 0 BNB. The crypto exchange also noted it added World Liberty Financial USD ( USD1) to Binance Simple Earn, “Buy Crypto”, Binance Convert, and Binance Margin at the respective dates and timings listed below. USD1 Flexible Products will be listed on Binance Simple Earn at 2025-05-22 12:00 (UTC) and will be available for subscription.

Users can buy USD1 with VISA, MasterCard, Google Pay, Apple Pay, Revolut or buy and sell USD1 with their account balances on the “Buy Crypto” page, available within one hour of USD1being listed on Binance Spot.

Users will also be able to start trading USD1 against BTC, USDT, and any other tokens on Binance Convert at zero fees within one hour of USD1 being listed on Binance Spot. Binance Margin will add USD1 as a new borrowable asset on Cross and Isolated Margin, as well as the USD1/USDT pair on Cross and Isolated Margin at 2025-05-22 12:20 (UTC).

This comes weeks after Eric Trump announced that the stablecoin used for the investment into Binance by UAE sovereign AI fund MGX, was World Liberty Financial USD.

Richard Teng talks to CNN about MGX Investment into Binance but not the name of stablecoin

Yet even in his most recent interview with CNN, Richard Teng still did not disclose the stablecoin that was used in MGX investment into Binance, while he did talk about what this means for the future of AI and crypto.

In a new series, entitled Intelligent Future which focuses on how technology is revolutionizing our world, CNN’s Becky Anderson sat down with Binance’s CEO, Richard Teng.

He noted that crypto is the future. It is a technology that is traceable, trustless, and decentralized. It allows you to build financial infrastructure, any infrastructure, tokenization, supply chains and so many other uses cases.

He adds that in the current financial structure, it takes two days to send money at high costs, crypto and stablecoins resolve this.

When asked about MGX investment into Binance with $2 billion. Teng stated, ” Abu Dhabi and UAE are always at the forefront of thinking and development of the future world. If you look at MGX it is AI, datacenter investment advance technology power house, so we are glad that this is our first institutional investment, This is the first strategic minority investment into Binance, the largest in the crypto industry and the largest paid in stablecoins.”

He says it also shows the future role is one of convergence between traditional finance, blockchain, crypto, AI, so he believes it will be very interesting.

As for the final question on how important that the USA is now getting onboard the crypto program. Teng says, that this is very important because the USA is the largest capital markets in the world. It accounts for over 15% of global capital markets. So when they say I am going to go long on crypto, the rest of governments and capital markets cannot chose to ignore that.”

Once regulators around the world come into play, they will benchmark themselves according to what the USA has notes Teng.

As for the next five years, Teng believes, children will grow up in the blockchain and AI world. Fees paid for financial transactions will go down substantially with settlement periods shorter. There will be more choices for investments, and use cases

UAE Klickl, WeBank and Goldford group to develop blockchain and AI incubation program

UAE Klickl, WeBank and Goldford group to develop blockchain and AI incubation program

UAE Klickl, a regulated Web3 financial services provider, WeBank, China’s digital bank and Goldford Group have collaborated to create a cross regional fintech innovation alliance spanning across China, Hong Kong and the Middle East, which will include the development of a blockchain and AI incubation program.

The signing took place as part of a broader economic dialogue catalyzed by the official visit of a high-level delegation from Hong Kong and Mainland China to Qatar, led by Hong Kong Chief Executive John Lee.

At the ceremony, Klickl UAE CEO Dermot Mayes, Goldford Group representative and Legislative Council member Dr. Duncan Chiu, and senior executives from WeBank formally sealed the agreement—positioning the three parties to co-develop financial infrastructure across blockchain, AI, and quantum technologies.

The partnership represents the first structured initiative of its kind to link fintech ecosystems across the Greater Bay Area and the Middle East. Klickl brings its compliance-first Web3 financial capabilities and deep understanding of the Gulf regulatory landscape; WeBank contributes leading financial technology from Mainland China; and Goldford Group offers integration strength across Hong Kong’s tech innovation ecosystem.

The alliance will jointly pursue six core areas of cooperation, Blockchain & AI Incubation Platform, startup acceleration Across Asia–MENA, next-Gen Financial Services for Cross-Border Use Cases, digital Transformation for Legacy Financial Institutions, localized Fintech Deployment for Gulf Markets, quantum Technology Exploration in Financial Applications and Klickl’s Institutional Role which will be to bridge Regulation, Markets, and Innovation.

“This partnership is more than symbolic—it is strategic,” said Michael Zhao, Founder and CEO of Klickl. “As the only homegrown Web3 financial services provider in the region, we are proud to help bridge capital, compliance, and technology across three economic hubs. This alliance reflects not only our infrastructure readiness, but also the trust we’ve built with institutions across Asia and the Middle East.”

Klickl’s institutional credibility is backed by its status as a policy-aligned fintech entity, having participated in recent sovereign economic missions to Malaysia, Poland, and Japan. Its regulatory licensing through ADGM (FSP) and VASP registration in the European Union positions Klickl to operate across key financial jurisdictions, providing end-to-end Web3-native solutions including digital wallets (Klickl4U), institutional accounts (KlicklONE), payment rails (KlicklPay), stablecoin services, asset custody, and trading infrastructure.

Sharjah Maritime academy launched Blockchain micro credentials

Sharjah Maritime academy launched Blockchain micro credentials

Sharjah Maritime Academy (SMA)has launched a blockchain-based Micro-Credentials through its partnership with EduChain and it has developed an AI-powered smart campus.

SMA has automated 85% of its processes, using AI to create a smart, sustainable, and student-first academic environment. This isn’t a cosmetic shift – it’s systemic. From personalized learning to real-time analytics, SMA is building the digital infrastructure students need to thrive in tomorrow’s world.

SMA is the first maritime institution in the UAE to issue blockchain-based micro-credentials, through a partnership with Educhain. Every certificate, badge, and transcript is now tamper-proof, instantly verifiable, and globally shareable – making SMA students skills-first professionals ready for a tech-driven future.

“This is bigger than maritime,” said chancellor Dr Hashim Al Zaabi. “It’s about redefining education in a world where technology, automation, and sustainability shape every industry. We’re not catching up; we’re setting the pace.”

With digital-first systems, strategic partnerships, and graduates built for what’s next, SMA isn’t waiting for the future of education – it’s delivering it.

Is an AI advance chipmaking deal on the near horizon in UAE?

Is an AI advance chipmaking deal on the near horizon in UAE?

H.H Tahnoon Bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and National Security advisor, as well as the son of Zayed bin Sultan Al Nahyan, the founder of the United Arab Emirates has been continuously busy meeting with top governmental officials as well as technology CEOs as he ramps up the Artificial Intelligence future of the UAE. Most of his meetings usually culminate in high level investments or announcements, so his recent meeting with the chairman of AMD and White House senior advisor for AI and crypto could mean something big is coming soon.

In less than three months, H.H. Al Nahyan has met three times with David Sacks, the White House Senior Advisor for AI and Crypto. In his third meeting on May 11th, the pair discussed strengthening bilateral cooperation in AI Innovation. H.H. Al Nahyan noted, ” Our discussion reflects the ongoing momentum in UAE-USA economic relations, where collaboration in advances technologies serves as a cornerstone for building smart sustainable digital future.”

Prior to that during his second meeting in the USA coincided with his official visit to Washington, where he met with US President Donald Trump, along with several senior officials and global business leaders including The visit included meetings with US Secretary of Commerce Howard Lutnick, Secretary of the Treasury Scott Bessent, National Security Advisor Michael Waltz, CIA Director John Ratcliffe, and Special Advisor on Artificial Intelligence and Digital Currencies David Sacks.

At the time, the meeting explored ways to strengthen bilateral relations and the longstanding strategic partnership between the two countries. Discussions also covered prospects for investment in key sectors, including Artificial Intelligence, advanced technology, infrastructure, industry, energy, and healthcare.

During meetings with CEOs and leaders of global companies, opportunities for joint investment were reviewed, with a focus on harnessing the potential of advanced technologies, AI, and innovation to drive inclusive development, increase growth, and improve quality of life.

At the end of that visit, several announcements and agreements. Notably, Nvidia and xAI joined the “AI Infrastructure Partnership”, an initiative aimed at advancing and accelerating the development of artificial intelligence and emerging technologies. ADQ and Energy Capital Partners (ECP), the largest private owner of power generation and renewables in the USA, announced a 50:50 joint venture based in the United States. The partnership aims to invest US$25 billion in new energy projects.

In addition, the Abu Dhabi Department of Government Enablement signed an agreement on behalf of the Government of Abu Dhabi with Microsoft and Core42, a subsidiary of G42 specialised in sovereign cloud, AI, and digital services. The agreement involves the implementation of a joint sovereign cloud system to enhance government service efficiency and develop new digital solutions.

His first meeting with Sacks on March 11th 2025, was an exploration one, where they discussed the transformative effects of AI across various sectors and the expanding role of digital currencies in reshaping financial systems, and the investment opportunities emerging at their convergence. Four days after his comment about the investment opportunities emerging at the convergence of AI and crypto, MGX chaired by H.H. made a $2 billion investment in Binance, bridging the investments being made in AI by MGX with crypto.

Now, in his most recent X post, he discussed his meeting with Lisa Su, the Chairman and CEO of AMD, the global chipmaker. In his X post he noted that with the accelerating trends in the field of AI and the pivotal role of compute infrastructure in shaping the future of technology, the meeting ” explored opportunities for collaboration.” He added that strategic partnerships with leading tech companies remain a cornerstone in advancing progress of regional and global development.

This comes as U.S. President Donald Trump will be visiting UAE in the next few days. As reported on CNN, “The UAE sees a once-in-a-lifetime opportunity to become a significant contributor in AI and advanced technology,” Anwar Gargash, diplomatic adviser to the UAE president, told CNN. “The commitment to invest $1.4 trillion… aligns with the UAE’s goal to diversify its economy away from its over reliance on hydrocarbons to ensure prosperity for the country in the future.” But it won’t be easy for Abu Dhabi to achieve its stated goal of becoming a global leader in AI by 2031 without advanced American microchips.

So will the meeting with AMD Chairman preceded by a third meeting with Sacks, culminate in a huge micro-chip deal that will propel the UAE into the AI future?

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UAE IHC and BlackRock partner for AI enabled reinsurance platform

UAE IHC and BlackRock partner for AI enabled reinsurance platform

UAE based IHC, a global investment company focused on building dynamic value networks, plans to establish a new AI-driven reinsurance platform headquartered in the Abu Dhabi Global Market (ADGM) with BlackRock. At the core of the company’s operations will be an AI-native approach, unencumbered by legacy technology, to enhance data analytics, pricing strategies, and company operations. This technology will bolster underwriting capabilities by improving the quality and speed of risk assessments, thereby optimizing capital efficiency.

As per the press release, the new platform, yet to be named, will provide critical underwriting capabilities, underpinned by cutting-edge AI technologies, to help accelerate the rapid growth in the Gulf region and support the continued evolution of regional capital markets.

BlackRock will partner with the platform to provide leading insurance asset management, advisory, and its Aladdin technology capabilities to the initiative. Lunate will also be a partner in the new platform, leveraging its deep expertise in private and public markets and its global, multi-asset investment experience in supporting the platform.

The platform will offer tailored solutions covering Property and Casualty (P&C), Life, and specialized insurance products. With its base in ADGM, it will operate across key international jurisdictions, creating a local platform capable of adapting to the diverse demands of the global market, while maintaining a strategic focus on the Middle East and Asia.

The platform will implement a buy-and-build strategy, targeting initial liabilities exceeding $10 billion. Initial equity commitments are expected to surpass $1 billion, which will be bolstered by additional hybrid and debt financing. After the signing of definitive documentation, BlackRock will provide a minority investment commitment to the venture.

IHC also announced that the company will be chaired by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, GCEO and MD of ADNOC, and led by seasoned industry expert Mark Wilson, former CEO of Aviva Plc and AIA Group Limited, who brings a wealth of experience to this initiative.

“We are excited to bridge global capital with regional opportunities in this fast-growing market to launch a value accretive business with solid financial returns while shaping the future of insurance with cutting edge technology. Supported by exceptional global partners in IHC, BlackRock and Lunate, the new company will bring deep expertise, a strong capital base, and AI-driven underwriting to enhance efficiency and precision. Furthermore, establishing the company in ADGM gives us access to a robust regulatory framework, a rapidly growing insurance market, and dynamic financial hub,” said Dr. Sultan Ahmed Al Jaber UAE Minister of Industry and Advanced Technology


Syed Basa Shueb CEO of IHC noted, “This venture embodies IHC’s commitment to innovation and strategic growth. By leveraging our diversified portfolio and deep regional insights, we aim to redefine the insurance landscape, delivering sustainable value to our stakeholders and contributing to the economic prosperity of the region.”

Larry Fink, Chairman and CEO of Black Rock added, “We are proud to collaborate with IHC and Lunate in this transformative endeavor to help accelerate the development of a more dynamic insurance, capital markets and financial ecosystem in Abu Dhabi and the broader region. We look forward to applying our asset management, advisory and technology capabilities to support its growth.”


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UAE AI company Aqlanx raises $10 million

UAE AI company Aqlanx raises $10 million

UAE based AqlanX, an artificial intelligence company, has raised $10 million investment from Lakeba Group through their venture DoxAI. The investment was facilitated through connections fostered by the UAE’s NextGen FDI initiative, to accelerate AqlanX’s mission to localize and expand the proven enterprise automation capabilities of DoxAI across the Middle East.

Founded on the vision of building UAE-Made, Arabic-first AI technologies, AqlanX focuses on automating business processes, enhancing operational efficiency, and transforming enterprise document management for large organizations.

As part of its national capacity-building strategy, AqlanX, DoxAI, and Lakeba have also formed a strategic partnership with the University of Wollongong in Dubai (UOWD) to establish an AI Centre of Excellence. This initiative will cultivate homegrown AI talent, research, and innovation directly in the UAE.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, commented that, “This collaboration between AqlanX, Lakeba, and DoxAI demonstrates the power of the NextGen FDI program to catalyse strategic, cross-sector partnerships. It underscores our commitment to fostering an ecosystem that nurtures innovation and collaboration in priority sectors like artificial intelligence.”

“This investment is more than capital, it’s a commitment to a shared vision. The UAE AI firm represents the next frontier of enterprise AI in the Middle East, and we are proud to bring our experience, technology, and strategic resources to support its growth,” said Giuseppe Porcelli, Executive Chairman of Lakeba and DoxAI.

Demetrio Russo, Founder and CEO of AqlanX, noted that, “With Lakeba and DoxAI behind us, AqlanX is equipped to deliver Arabic-first AI that is not only world-class, but also born in, and for, the UAE. We are building an innovation hub that reflects the ambitions of this region and empowers its enterprises to lead globally.”

UAE Ghaf Labs and Bybit exchange to drive crypto adoption in MENA

UAE Ghaf Labs and Bybit exchange to drive crypto adoption in MENA

Bybit, the world’s second-largest cryptocurrency exchange by trading volume which currently holds an in principle approval from Dubai regulator, and UAE based Ghaf Labs, a MENA-based Web3 boutique advisory and consultancy firm, signed a Memorandum of Understanding (MOU) to enter a multi-year strategic partnership that aims to drive crypto adoption, ecosystem development, and real-world utility across the Middle East and North Africa (MENA).

This partnership is on a mission to position the region as a global Web3 hub by enabling innovation, supporting regulatory clarity, and fostering meaningful use cases that integrate blockchain into daily life.


Ghaf Labs, backed by Ghaf Capital Partners, offers tailored advisory and incubation services to Web3 ventures across MENA. With its strong regional network and regulatory insight. Together, Bybit and Ghaf Labs will provide equity-free grants, startup support, and access to strategic resources for ventures exploring blockchain, AI, and sustainability, central to the region’s digital transformation.

“Our partnership with Ghaf Labs is rooted in a shared vision for the MENA region, one where crypto isn’t just adopted, but lived,” said Helen Liu, COO of Bybit. “From developer tooling to lifestyle integration, we’re building the bridges that bring crypto into everyday life.”

The collaboration will also launch a series of education initiatives designed to nurture local Web3 talent. These include university partnerships, bootcamps, and developer hackathons, all aimed at empowering the next generation of blockchain builders.

Additionally, both parties will co-develop educational content to improve Web3 literacy across Arabic- and English-speaking communities in the region.

“This partnership with Bybit reflects our shared commitment to advancing Web3 infrastructure, education, and institutional engagement across the MENA region. Together, we aim to accelerate innovation and continue to position the UAE as a global hub for digital assets.”
said Feras Al Sadek, Co-Founder and Managing Partner at Ghaf Labs.

Lara on the Block spoke with Al Sadek asking why Bybit in particular, his reply, “Bybit brings more than just liquidity and listing power. The decision was rooted in long-term alignment: Bybit has consistently demonstrated commitment to Web3 ecosystem growth, regional presence in MENA, and a partner-first approach. Unlike other exchanges, Bybit is building beyond trading, with initiatives in education, infrastructure, payments, and community development. We’ve supported Bybit from the beginning, and this partnership reflects our continued belief in their vision and values.”

Ghaf Labs has invested in MENA and International startups since its inception, so we asked Al Sadek what added value would Bybit bring in? He noted that the crypto exchange offered three layers of added value. The first was distribution and exposure paving a direct path to exchange listings, co-marketing and user acquisition at scale, secondly was product integration such as access to Bybit Card, API infrastructure, and on-chain tools to enable real-world utility and faster product-market fit, and finally was credibility & reach where being affiliated with a top-tier global exchange enhances startup credibility, which is critical for follow-on investment and partnerships.


Beyond development, the partnership highlights the real-world utility of crypto through lifestyle applications like the Bybit Card. This product connects digital assets with premium experiences, including exclusive access through partners such as Grand Millennium Hotels in Dubai—demonstrating the role of crypto in elevating travel, luxury, and everyday spending.

Speaking on this to Lara on the Block, Al Sadek noted that Bybit Card is a gateway to real-world crypto utility. He explained, “We see it as a foundational layer across our startup ecosystem. From loyalty programs to on-chain-to-off-chain commerce, the card can power a new wave of fintech experiences. One early proof point is our tripartite collaboration with Grand Millennium Hotel, where Bybit Cardholders now enjoy up to 30% off across F&B, rooms, salons, and events. We plan to expand this model, embedding Bybit Card access into everyday products, services, and reward mechanisms offered by our portfolio projects.”

In 2023, Ghaf Labs, partnered with Sui Foundation, a Blockchain Foundation that supports the growth and proliferation of the Sui blockchain protocol (“Sui”) and associated ecosystem.

UAE Public Prosecution integrates AI and Blockchain for criminal cases

UAE Public Prosecution integrates AI and Blockchain for criminal cases

The UAE Public Prosecution unveiled its plan to integrate AI ( Artificial Intelligence) and Blockchain as well as the metaverse for criminal cases, during the Governance of Emerging Technologies Summit in Abu Dhabi this week. The initiative is part of UAE Public Prosecution’s 2045 strategy which aims to cut the processing times of cases up to 100 percent while ensuring accuracy transparency and security in the justice system.

Chancellor Salem Al Zaabi, Chief Prosecutor at the Office of the UAE Attorney General, outlined how AI will be embedded at every stage of the legal process — from the initial classification of complaints to case resolution. “Artificial intelligence will be used to identify contradictions in evidence, interpret technical reports, and summarize complex legal files,”
he said.

AI will also assist prosecutors in prioritizing police reports based on urgency and severity, allowing faster and more informed decisions. Despite the technology’s expansive role, Al Zaabi emphasized that AI is a support tool, and not a substitute, with human prosecutors remaining central to all decisions.

Blockchain technology will also play a key role in securing evidence. By tracking seized items, storing sensitive digital data, and preserving the chain of custody, blockchain ensures legal evidence remains unaltered and tamper-proof.

“We must ensure that no one can access or alter this evidence,” Al Zaabi noted.

The initiative follows lessons learned from the UAE’s first cryptocurrency case, which exposed gaps in the legal system’s readiness to handle digital crimes. The complex case, which involved months of external consultation and a 100-page report, ultimately led to a conviction, but also a realization that prosecutors needed better digital literacy.

Since then, specialised training programs have been introduced to equip prosecutors with skills to handle new-age crimes involving NFTs, cryptocurrencies, and other digital assets.

Looking ahead, the Public Prosecution will use metaverse platforms and virtual reality to simulate crime scenes, offering courts and investigators a more immersive understanding of incidents. Predictive AI models will also be deployed to identify criminal patterns and allow early intervention.

The UAE also plans to strengthen international cooperation by launching a platform to coordinate with public prosecution offices globally.

“Digital crime knows no borders,” Al Zaabi said, calling for unified global action against cyber threats.

“We will harness technology to protect rights, accelerate procedures, and deliver precise, humane justice.”

Animoca Brands opens office in UAE and appoints Managing Director

Animoca Brands opens office in UAE and appoints Managing Director

Animoca Brands today announced its official expansion into the Middle East, with a presence in Dubai, United Arab Emirates, to meet the growing demands of Web3 organizations moving into the region. The company has also appointed Omar Elassar as managing director for the Middle East and head of global strategic partnerships.

As per the press release, the Dubai office will serve as a hub to engage with both local and international partners to foster innovation, guide strategic direction and operations and develop partnerships.

Oman Elassar will oversee the Middle East growth and operations. As a Web3 veteran Oman has eight years of Web3 native technology experience having held various executive roles with Polkadot, Ripple and others. He has also worked across corporate and technology strategy, as well as financial advisory at firms including Oliver Wyman, Deloitte, and Morgan Stanley. He holds an MBA from INSEAD, and an Honours degree in Computer Engineering from the University of Waterloo in Canada.

Commenting on the appointment, Evan Auyang, group president of Animoca Brands, said, “Omar’s deep expertise in Web3 makes him an exceptional addition to Animoca Brands. His leadership will be a key driver in driving Animoca Brands’ strategic growth in the Middle East and beyond.”

Omar Elassar, managing director for Middle East and head of global strategic partnerships, added, “We are excited to establish our first office in the Middle East, one of the world’s most connected innovation hubs, to leverage the region’s vibrant landscape and support the evolving needs of the Web3 industry locally and globally. Joining Animoca Brands at this phase in its journey presents a unique opportunity to work with visionary builders and contribute to the wider integration of blockchain technology in a market that is poised for significant growth.”

​Animoca Brands has been active in the MENA region

Already Animoca brands has been active in the region whether in Saudi Arabia or the UAE. Earlier this year is signed an agreement with Saudi Neom, and also led an investment in UAE based Param Labs, an independent Web3 Blockchain gaming and technology studio totaling $7 million.