UAE Haifin, trade finance fraud platform announces $40.8 billion worth of transactions

UAE Haifin, trade finance fraud platform announces $40.8 billion worth of transactions

Haifin, previously known as UAE Trade Connect, an AI blockchain platform to combat trade finance fraud among the banking sector and non-banking sector, has announced a record-breaking year with nearly $40.8 billion of transactions (150 billion AED).

According to Zul Javaid, CEO of Haifin in a LinkedIn post, “ We identified and prevented hundreds of millions of Dirhams of duplicate financing and fraud for our member involved in lending.”

UAE Trade Connect (UTC), Launched in 2021, was co-created by e& enterprise and the UAE banking industry and offers a technology solution to detect suspicious transactions and prevent fraud and duplication in real time. It uses technologies such as AI, Blockchain and machine learning.

Juvaid added, “Big shout out to our steering committee and wider consortium for their trust and commitment to de-risking the lending environment and increasing accessibility to finance for the UAE economy.”

The members of Haifin platform include UAE Banks Federation, Al Masraf, Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank, Commercial Bank International, Commercial Bank of Dubai, Dubai Islamic Bank, First Abu Dhabi Bank (FAB), Habib Bank AG Zurich, Invest Bank, Mashreq Corporate & Investment Banking Group, National Bank of Fujairah, RAKBANK, Sharjah Islamic Bank, United Arab Bank, Beehive Fintech, CredibleX, DP World, and Finneva.

In December 2023, Beehive, a peer-to-peer lending platform, became the second non-banking entity to join Blockchain enabled UAE Trade Connect platform, Haifin. Priort to that, DP World Finance platform partnered with UAE trade Connect in November of the same year.

Zul Javaid expressed his interest in expanding Haifin offering to countries across the GCC and MENA regions, including KSA hiring Wissam Massud to lead their international expansion in 2023.

Powered by Blockchain and AI UAE G4Green marketplace is live

Powered by Blockchain and AI UAE G4Green marketplace is live

ImpactGulf, the creators of G4Green.com enterprise solution, UAE-based sustainability technology solutions provider, have announced that Blockchain and AI G4Green sustainable marketplace is now live.

As per the press release, the G4Green Marketplace is a comprehensive sustainability platform that enables green performers to showcase their achievements, and green innovators to promote their products and services. It also allows consumers and businesses to search for green products, services, partners and suppliers. The platform is complemented by a number of unique features to enhance user experience, sharing of ideas and collaboration. This includes a Green Blog where member companies can share news and information on sustainability, including global insights, company news, business requests, opportunities and event announcements.

“Large companies struggle to collect ESG data from their suppliers, whose sustainability performance reflects directly on the companies’ reputation. Meanwhile, the wider business community is overwhelmed by the complexity and breadth of sustainability issues and struggles to find sustainable partners or green products and services,” said Yassin Nasri, CEO and founder of ImpactGulf. “G4Green solves this problem by enabling any company, regardless of size, to progressively obtain sustainability information, receive guidance on building a sustainability profile, and share their green performance and innovations with partners, customers and the world.”

By inviting their corporate network to join G4Green Marketplace, large organisations, government agencies and global institutions can map the ESG performance of their suppliers and rally their entire corporate network around ethical principles. They can collectively onboard them, monitor and drive their sustainability performance and implement incentive tools to accelerate their ESG journey. Initially, the marketplace will be free to all registered companies in the UAE, with plans to expand globally next year.

Commenting on the platform, Nasri said: “G4Green represents a significant milestone in our ongoing commitment to drive positive environmental change and build capacity in the sustainability space. By providing organisations with the tools and resources to streamline their sustainability efforts, we aim to catalyse a broader shift towards greener business practices. Building and operating a sustainable business is not possible without the engagement of the wider business community.”

“Although the platform is free to use, we are pleased to offer significant and permanent discounts on premium membership to all UAE-based companies registered in sustainability free zones such as Masdar City or Expo City Dubai, or members of sustainability initiatives such as the Climate-Responsible Companies Pledge, the Global Compact Network or the SME Climate Hub,” added Nasri.

Vytautas Sabaliauskas, CTO at ImpactGulf, added, “The platform’s sustainability capabilities are powered by advanced technologies, including AI-driven data analytics and blockchain-enabled traceability, to ensure the integrity and reliability of sustainability initiatives. The platform also uses AI to detect false sustainability claims, helping companies avoid greenwashing by scanning social media posts for sustainability claim violations before they are posted.”

ImpactGulf is the host of the 14th National Dialogue for Climate Ambition (NDCA), and a signatory to the UAE Climate-Responsible Companies Pledge. It is also a participant in the United Nations Global Compact, and an officially recognised member of the Greentech Alliance. ImpactGulf was selected by Shell Middle East and StartUpbootcamp for the Shell StartUp Engine UAE 2022.

UAE DAMAC properties investing $20 billion in US datacenters for AI and crypto

UAE DAMAC properties investing $20 billion in US datacenters for AI and crypto

UAE DAMAC Properties CEO, Hussain Sajwani, a close business partner of the Trump family will invest $20 billion in US datacenters used for AI ( Artificial Intelligence) and crypto. President-elect Donald Trump announced the $20 billion investment for data centers in the United States on January 7th 2025.

Trump said at a news conference that he believed Sajwani made the commitment because “he was very inspired by the election and wouldn’t do it without the election.” The president-elect emphasized his plans to get investments of $1 billion or more through the environmental regulatory review process quickly.

Sajwani briefly joined the news conference and said: “It’s been amazing news for me and my family when he was elected in November.”

Sajwani’s promised investment feeds into an existing boom for constructing data centers used in the development of artificial intelligence and expansion of cryptocurrency, as well as in other elements of an increasingly digital economy that relies on having greater sources of computer processing power.

In October, the financial company Blackstone estimated that the U.S. would see $1 trillion invested in data centers over five years, with another $1 trillion being committed internationally.

Sajwani would gain data centers in the United States, which thus far have not been part of his company’s EDGNEX data center portfolio. According to the company’s website, it already has or plans to build data centers in the UAE, Saudi Arabia, Turkey, Spain, Thailand and Indonesia.

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

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

NEXGEN 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 the Digital Energy Infrastructure (DEI) Fund, a local decarbonization innovation fund.

Abu Dhabi Chamber of Commerce to launch blockchain working group

Abu Dhabi Chamber of Commerce to launch blockchain working group

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) plans to launch seven new working groups aimed to develop the private sector, promoting leadership and boosting Abu Dhabi’s business ecosystem that include AI, Blockchain and digital assets, as well as digital gaming and others.

As per the press release, these working groups focus on enhancing the private sector’s capacity, reflecting their aspirations, and channelling their voice to relevant stakeholders across key economic sectors.

The working groups explores seven key fields including precious metals and jewellery, chemicals production, Artificial Intelligence (AI), interactive and digital gaming, banking and financial services, blockchain and digital assets, as well as media, entertainment and gaming.

The Abu Dhabi Chamber of Commerce previously identified over 126 opportunities for the private sector to develop, through their engagement with the current working groups that span across various sectors. These working groups often host group meetings and workshops to discuss topics related to each sector and enhance their contribution to socio-economic development.

His Excellency Shamis Ali Khalfan Al Dhaheri, Second Vice Chairman of ADCCI ,Managing Director, said, “Through the new seven working groups, the Abu Dhabi Chamber aims to contribute to the Emirate’s economic aspirations by fostering a dynamic and diverse business ecosystem, solidifying Abu Dhabi’s position as the leading hub for business and investment.”

Al Dhaheri emphasized the Chamber’s commitment to coordinating with all stakeholders to provide a platform that fosters cooperation, knowledge exchange, and opportunities for business growth in Abu Dhabi.

To further strengthen the role of startups in the national economy, the Chamber is also establishing a dedicated team that brings together representatives from startups, innovation centres, business incubators and accelerators, venture capitalists, Research and Development (R&D) centres, and the public sector to address their challenges.

Estonia and UAE to enhance healthcare sector in UAE with Blockchain security solutions

Estonia and UAE to enhance healthcare sector in UAE with Blockchain security solutions

The Estonian Ministry of Social Affairs has partnered with the UAE to develop innovative solutions in the digital health sector using blockchain technology.

As per the press release, the partnership aims to address future challenges and create added value in the UAE’s healthcare system, leveraging Estonia’s leadership in digital health to improve the quality and efficiency of medical services in the UAE. It is designed to help the UAE adopt advanced digital systems, including e-prescriptions, artificial intelligence, and blockchain technology, to improve services and ensure the security and confidentiality of health data.

Janika Merilo, Head of the Digital Health and Care Department at the Estonian Ministry of Social Affairs, expressed her enthusiasm for the collaboration, saying, “We are pleased to announce this strategic partnership with the UAE, which represents a global model for digital transformation. We are committed to sharing our expertise in digital health to support the UAE’s efforts in developing a sustainable healthcare system for the future.”

Merilo emphasized that Estonia’s experience in digital transformation has shown how technologies like e-prescriptions and blockchain can revolutionize healthcare delivery.

Since adopting a comprehensive digital health system in 2008, Estonia has become a world leader in this field, managing over 40 million electronic health records. The system facilitates more than 2.3 million monthly interactions between doctors and patients, with 99% of prescriptions issued electronically. This digital approach has saved Estonia an estimated 2% of its annual GDP by reducing paperwork and enhancing efficiency.

Estonia’s use of blockchain technology to protect health data from cyber threats aligns with the UAE’s emphasis on improving cybersecurity in healthcare systems. This collaboration aims to build a safer and more sustainable health system in the UAE.

Estonia and UAE will work together to enhance security through blockchain will foster trust in the healthcare system, and ongoing innovations will contribute to building a sustainable, advanced healthcare model for the UAE.

Abu Dhabi AI G42 invests in Inveniam private market tech entity

Abu Dhabi AI G42 invests in Inveniam private market tech entity

Abu Dhabi based, G42, a global leader in creating visionary artificial intelligence for a better tomorrow announced a strategic investment in Inveniam, an innovator in private market financial technology that utilizes DLT technology to tokenize assets.

As per the announcement, this marks a significant step in G42’s mission to apply cutting-edge AI solutions to industries that are critical to global economies but remain underserved by technology.

Inveniam’s pioneering data architecture and expertise in private market systems align seamlessly with G42’s advanced AI capabilities. The collaboration will enable secure, privacy-first solutions for managing sensitive financial data while improving efficiency and transparency in private markets.

As per G42 this partnership underscores G42’s commitment to building transformative, AI-driven ecosystems that reshape industries for the better. Inveniam’s innovative technology and leadership make it the ideal partner to drive meaningful change in private markets globally.

With regards to Inveniam, which has raised over $120 million previously, the partnership is important because of their need for AI to deliver the world’s leading solutions for Private Markets.

Private markets, the realm of real estate, private equity, private credit and infrastructure investments, represent the world’s largest asset class, worth hundreds of trillions of dollars. Yet despite their massive size, these markets operate much like they did decades ago, with scattered data, manual processes, and long transaction times. Inveniam have spent years building technology to solve this problem, creating the infrastructure that allows these assets to be managed, shared and traded with the efficiency of public markets, while keeping sensitive data secure and in the clients’ systems using agents.

Patrick O’Meara, Chairman & CEO, Inveniam noted, ” As we built our solution, we realized that it would not be a single new technology that transforms this market. It is the convergence of AI, DLT, and DeFi. There were a number of significant technical barriers, but these have been overcome in the past several years. Now, Inveniam is utilizing these technologies together at scale. Inveniam’s platform delivers trust in the source data with visibility, transparency, and auditability around the automation which we refer to as Smart Provenance™. This context, attribution, and trust opens the door for enterprise use against private market assets.”

Inveniam and G42 will offer solutions that deliver trust in the value of underlying assets for investors exchanging billions of dollars daily on private market funds, indices, derivatives, and eventually the underlying assets.

G42 has built some of the most advanced AI systems in the world and partners with leading organizations across industries and geographies.

Enterprises need a tool to get their data ready for AI and maintain readiness for automation tools, such as AI. This is where Inveniam’s sophisticated permissions and workflow solutions allow for management of data operations in a decentralized data environment with a focus on the unstructured data associated with private markets.

Both companies will be building something that hasn’t existed before a comprehensive technology platform that combines G42’s AI capabilities with Inveniam’s data architecture. The world’s first private markets derivatives exchange, beginning with real estate, that enables these assets to be traded dramatically more efficiently, with a target of reaching the efficiency of the public markets.


From this foundation of permissioned-access to trusted data, The partnership with G42 provides the resources for the next several years of operations as well as technological capabilities to expand to all private markets – from infrastructure projects to private equity investments.

We’re building the infrastructure that will allow the world’s largest asset class to operate with the efficiency of public markets while maintaining privacy and control that private market participants require. This leapfrogging of public market centralized data solutions will transform Private Markets. With G42 and our ecosystem of partners, we are starting to deliver this reality.

Aethir and Blockchain Center Abu Dhabi partner for $100 million ecosystem fund

Aethir and Blockchain Center Abu Dhabi partner for $100 million ecosystem fund

Aethir ,enterprise-grade GPU-as-a-service platform on the market, capable of supporting AI and gaming companies of all types and sizes with reliable, secure, and highly scalable GPU computing power and The Blockchain Center Abu Dhabi (ADBC) partnered at Bitcoin MENA to supercharge AI and gaming development through Aethir’s $100 Million Ecosystem Fund.

As per the blog post, the fund comprises of Aethir compute subsidies and token grants for eligible projects, focusing on innovators developing projects in Abu Dhabi and the broader MENA region. ADBC will be the regional onboarding partner for Aethir’s AI and gaming ecosystem grants, as they have expertise in the local Web3 sector.

Aethir’s decentralized cloud infrastructure can efficiently service the most demanding enterprises in the Web3 industry with premium GPU compute resources. Additionally, Aethir’s network of over 33,000 globally distributed Aethir Edge cloud computing devices enables anyone to become a compute provider in our network and support the everyday workloads of our clients worldwide.

ADBC aims to empower businesses, governments, and individuals to leverage blockchain technology for sustainable growth and transformation that can positively impact users’ everyday lives globally. The center’s Incubation & Acceleration Hub provides Web3 startups with comprehensive resources, expert mentorship, and strategic funding.

The grant program will primarily focus on AI and gaming enterprises building projects in the MENA region, focusing on Abu Dhabi with ADBC’s support. Aethir will be the exclusive GPU computing provider for all eligible projects with compute grants, subsidies, and token grants from our $100 million Ecosystem Fund.

ADBC will be Aethir’s exclusive partner for onboarding innovative AI and gaming projects from the MENA region into the ecosystem through Aethir’s grant program.

ADBC will form a committee to source and onboard startups into the Aethir ecosystem, specifically in Abu Dhabi and the broader MENA region, and will offer grantees expertise in regulatory compliance, business strategy, and market entry within the UAE. Furthermore, ADBC will co-host or sponsor events to increase the visibility of grantee projects and create networking opportunities, as well as joint marketing campaigns to promote these projects.

While, Aethir’s role in this partnership will be to provide compute subsidies and token grants to eligible applicants. All grant program applicants must use Aethir’s cloud-computing infrastructure or partner with Aethir through allocations of their native tokens.

‍

Japanese bitgrit establishes DLT Foundation in ADGM UAE

Japanese bitgrit establishes DLT Foundation in ADGM UAE

bitgrit, founded in Japan, aims to democratize AI development for all creators and has been working on developing systems utilizing blockchain technology. has announced that it has registered its DLT Foundation at ADGM in UAE.

As per the announcement, this foundation represents the first instance of a Japanese-rooted company leveraging ADGM’s regulatory framework to create a crypto asset foundation.

A DLT Foundation is a foundation scheme provided by ADGM, specifically tailored for projects involving crypto assets and DLT. This framework enables such projects to operate transparently and reliably. It also allows for the issuance and management of tokens in a legally authorized environment, providing significant advantages for projects prioritizing regulatory compliance.

bitgrit has now transitioned into an ADGM-registered entity, placing itself at the forefront of AI and blockchain innovation in the Middle East. The company connects a global community of over 35,000 data scientists and offers innovative services through its AI competition platform and an AI marketplace currently under development.

The newly established BITGRIT DLT Foundation will form the foundation for bitgrit’s planned issuance of crypto tokens. These tokens will be utilized within the company’s platforms, enabling AI agents to leverage AI models and datasets while facilitating transactions among users through token-based ecosystems.

Kazuya Saginawa, CEO of bitgrit, statedm “The establishment of the BITGRIT DLT Foundation is a significant milestone for us as a Japanese-rooted company operating under ADGM’s regulations. By integrating AI agents and Web3 technologies, we aim to create a new ecosystem that delivers value to both users and businesses while ensuring transparency and reliability.”

bitgrit DLT Foundation aims to issue crypto tokens to build an ecosystem where AI agents can efficiently operate and interact, and work toward listing the tokens on the UAE’s “Available Virtual Assets” list to enhance trust and adoption, while expanding from the MENA region to global markets.

In August 2024, Kaia DLT Foundation got licensed in ADGM and their mainnet will be launched on August 29th 2024. Prior to that IoTA also launched its DLT Foundation from ADGM.

Beam launches $150 million Web3 gaming fund in UAE

Beam launches $150 million Web3 gaming fund in UAE

The Beam Foundation has launched Beam Ventures in Abu Dhabi, the first venture fund focused exclusively on Web3 gaming from ADGM. The $150 million gaming fund aims to accelerate promising founders and contributing to Abu Dhabi’s transformation into a global gaming hub.

Beam Ventures is strategically positioned at the intersection of blockchain, gaming, and artificial intelligence, the fund is driven by a commitment to shape the future of gaming together with the next generation of game developers and innovators. Beam Ventures will launch an accelerator program, inspired by globally recognized precedents. This program is designed to support early-stage startups specializing in web3 gaming and AI, offering a combination of in-person and remote participation options. The goal of the program is to create a breeding ground of successful startups that will impact the gaming industry and beyond.

HE Saeed Al Fazari, Strategic Affairs Executive Director at the Department of Culture and Tourism – Abu Dhabi, said, “Over the past three years, we have built a robust gaming infrastructure in Abu Dhabi, and establishing a dedicated gaming fund is a crucial step in ensuring that this ecosystem continues to thrive. This initiative aligns seamlessly with our Abu Dhabi Gaming efforts, reflecting our commitment to welcoming investments in the gaming industry and highlighting the trust and confidence investors have in our ecosystem.

We remain deeply committed to attracting and nurturing talent in Abu Dhabi, contributing to the knowledge-sharing economy, and driving the growth of the creative industries. This fund is another step forward in ensuring Abu Dhabi becomes a global hub for gaming excellence and innovation.”

“At Beam Ventures, one thing drives us above all else: innovation. In whatever form it might take, innovation has always been our lifeblood and our North Star – and that’s why we are so delighted to be bringing our pursuit of innovation to Abu Dhabi, a city that has shown itself time and again to share our mindset. We’re convinced that Abu Dhabi is set to be the epicenter of the world’s most exciting, pioneering tech and gaming innovation for years and decades to come. We have always sought the cutting edge at Beam Ventures – and we know that with this collaboration we have found exactly that. We look forward to other cutting-edge creators and founders joining us on this adventure.” – Mark Borsten – Chief Strategy Officer.

The Global AI Show debuts in Dubai on December 12th

The Global AI Show debuts in Dubai on December 12th

The future is powered by AI, and the Global AI Show is your gateway to exploring its limitless potential! Taking place in Dubai on December 12-13, 2024, this AI conference invites you to meet the top 1% in AI and engage with the brightest minds shaping the future.

Join 3,000+ C-Suite, as well as 200+ startups and 75+ speakers from across the globe, at UAE’s #1 AI event for CXOs. Together, we’ll dive into the most transformative AI applications across various industries:

  • Healthcare: Learn how AI is revolutionizing medical diagnosis, treatment, and personalized care.
  • Customer Experience: Discover AI-powered solutions to enhance interactions and customer satisfaction.
  • Fintech: Explore cutting-edge AI technologies driving the future of banking, payments, and risk management.
  • Cybersecurity: Strengthen defenses against evolving cyber threats with AI-driven innovations.
  • Supply Chain & Logistics: Understand how AI optimizes processes, reduces costs, and improves supply chain efficiency.
  • Intelligent Data & Analytics: Unlock actionable insights with AI-driven data analysis and decision-making tools.
  • AI in 2057 – Future Frontiers: Explore the new frontiers of AI, pushing the boundaries of innovation and shaping the world of tomorrow.

Event Highlights:

  • Meet the Top 1% in AI: Gain valuable insights from 90+ hours of 100% CXO keynotes and 75 headline hacks delivered by AI experts.
  • Roadmap Your Intelligent Future: Connect with sovereign wealth funds, family offices, and investors shaping the AI landscape.
  • UAE’s Vision for AI Excellence: Get an exclusive look at Dubai’s AI blueprint and explore the investment opportunities revealed at AI 2057.
  • Networking Opportunities: Engage with 3000+ stakeholders and be part of a global community of 110k+ AI professionals.

Featured Speakers:

  • H.E. Dr. Mohammed Al Kuwaiti, Head of Cybersecurity Council, UAE Government
  • Lt. Col. Dr. Essa Almutawa, Chief Artificial Intelligence Officer, Dubai Civil Defense
  • Hoda Al Khazaimi, Co-Chair, Global Future Council, World Economic Forum
  • Saqr Alhemeiri, Chief Innovation Officer, Ministry of Health and Prevention – UAE
  • Mohamed El Sabbagh, CTO, Abu Dhabi Chamber of Commerce & Industry
  • Veneeth Purushothaman, Group CIO, Aster DM Healthcare
  • Anshu Raja Sharma, Chief Transformation Technology Operations Officer, Standard Chartered
  • Dinesh Dua, Chief Customer Experience Officer, Sobha Realty
  • Dongjun Choi, Chief Customer Officer, RAKBANK
  • Dr. Dirk Jungnickel, SVP Enterprise & Analytics & Intelligence, Emirates Group

To view the full list of speakers, Click Here.

Who Should Attend?
Whether you’re a CXO, researcher, entrepreneur, or AI enthusiast, the Global AI Show is designed to equip you with the knowledge and connections needed to meet the future head-on. This is where tomorrow happens today.

Don’t miss this groundbreaking event! Book your tickets now at Global AI Show Tickets and secure your spot at the forefront of AI innovation.

For any further information, feel free to contact us at contact@globalaishow.com.