The National Bank of Bahrain launches first Bitcoin Linked structured investment in GCC

The National Bank of Bahrain launches first Bitcoin Linked structured investment in GCC

The National Bank of Bahrain (NBB) has launched the GCC’s first Bitcoin-linked Structured Investment, in partnership with ARP Digital which provides crypto investment products and services such as Wealth management, coverage & OTC. The unveiling took place during a special ceremony at Fintech Forward 2024.

The investment product is designed exclusively for accredited investors to provide them the opportunity to gain exposure to Bitcoin’s (BTC) long-term growth while ensuring capital preservation. Through this structured product, accredited investors can benefit from Bitcoin’s upward performance, capped at a predefined threshold, while enjoying 100% capital protection on the downside. This offers a powerful hedge against the volatility traditionally associated with digital currencies.

Hisham AlKurdi, Group Chief Executive – Markets & Client Solutions at National Bank of Bahrain said, “We are proud to introduce this bespoke structured investment, which blends the appeal of digital asset exposure with the security of capital protection. This product underscores our focus on offering our wealth management clients innovative and secure avenues to diversify their portfolios in an evolving investment landscape. It is a testament to NBB’s continued leadership in financial innovation within the region.”

The launch of the Bitcoin-linked Structured Investment is aligned with the Bank’s strategy to enhance its product suite, particularly for wealth management clients, by providing tailored solutions that balance growth potential with risk mitigation. The product meets the demand for risk-averse investors seeking exposure to Bitcoin, while fully insulating their principal investment from market fluctuations.

Abdulla Kanoo, Co-Founder and Co-Chief Executive Officer at ARP Digital added, “Our collaboration with NBB is poised to be a game-changer in the regional market. By leveraging our expertise in digital assets and NBB’s extensive reach in the financial sector, we have created a product that introduces Bitcoin exposure within a highly secure framework. This structured investment opens new doors for investors seeking a calculated approach to digital assets.”

Dalal Buhejji, Executive Director of Business Development for Financial Services at Bahrain Economic Development Board stated, “The launch of this Bitcoin-linked Structured Investment is a prime example of the true potential of Bahrain’s robust financial services ecosystem, which provides an attractive and streamlined environment that gives rise to innovative solutions, which is key to maintaining Bahrain’s position as a leading regional fintech hub and trusted investment destination for local and global investors alike. This initiative embodies a seamless fusion of traditional financial practices and inventive blockchain-based solutions, and we are proud to witness local institutions like NBB driving cutting edge advancements and diversification to the sector.”

ARP Digital received its license from Bahrain earlier this year.

UAE Hodler Investments and EHC Investment to develop digital energy market for AI, Blockchain digital asset datacenters

UAE Hodler Investments and EHC Investment to develop digital energy market for AI, Blockchain digital asset datacenters

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 have 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.

The UAE is a strong supporter of the decarbonization initiative. Over the past 15 years, the UAE has invested more than US$40 billion in clean energy projects. Globally, the UAE supports green infrastructure, investing approximately $16.8 billion in renewable energy projects across 70 countries, primarily in developing nations. It has also provided over $400 million in aid and soft loans for clean energy initiatives.

Moustafa Rashad, Chief Executive Officer of EHC Investment added, “Our partnership with HOLDER INVESTMENTS will solve various challenges facing the energy sector in MENA. We believe that modern technology coupled with smart capital can accelerate decarbonization and address the renewable funding gap. This partnership will address market challenges of commercializing wasted and underutilized energy, while streamlining regulatory compliance for this newfound digital energy market, ensuring compliance with key systems and controls.”

Mohamed El Masri, Managing Director of HOLDER INVESTMENTS, stated, “Our strategic alliance with EHC Investment will accelerate our mission to build distributed energy infrastructure to power compute clusters that optimize wasted energy resources and build equitable energy infrastructure that strengthens the regional position for integrating data mining systems that support a sovereign digital economy.”

The strategic partnership with EHC Investment comes after HODLER announced its ongoing plans for a $500 million Digital Energy Infrastructure (DEI) Fund with the participation of UAE based GEWAN holding. The DEI will be established as a closed-ended Fund, subject to compliance and regulatory approvals. The DEI Fund has already secured soft commitments from lead investors and in-kind contributions in addition to offtake partners seeking energy and connectivity for A.I. and digital asset mining operations.

Ahmed Ebrahim, Managing Director of Hodler Investments, explained, “Through this strategic partnership with EHC Investment, we are ensuring that the evolving regional market for modern data center applications will be built on equitable energy systems that will power on site, and remote data mining farms, including edge computing, bitcoin mining, AI and other critical compute applications.”

Ali Al Gebely, Managing Director of EHC Holding, stated, “We are very pleased to have signed this strategic partnership with HODLER Investments, given the growth that we are witnessing in the MENA region when it comes to the digital economy incorporating AI applications, Blockchain, IoT and others. The partnership is aligned with our goal of shaping a clean energy transition for a sustainable future. We believe public and private investments play a critical role in driving innovation.”

Alaa Al Ali, Founder & Group CEO, Gewan Holding comments, “We are proud of our direct affiliation with Hodler Investments which resulted in the ongoing establishment of the Digital Energy Infrastructure Fund to support such innovative initiatives as we look to streamline sustainable capital to accelerate decarbonization projects in the region, enabling carbon offset opportunities and optimized cash flow from energy assets.”

UAE QCP capital: investors sideline ETH and Bitcoin makes incredible recovery

UAE QCP capital: investors sideline ETH and Bitcoin makes incredible recovery

UAEbased QCP Capital recently analyzed the price of Bitcoin stating that it has witnessed an unbelievable and swift recovery, comparing it with the increasing sideline of ETH ( Ethereum).

QCP, an institutional digital assets company received In-Principle Approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to conduct regulated activities in May 2024. According to QCP, the decision to make a move into this strategic market for the company’s footprint was in anticipation that the Middle East is going to become a dominant global hub for capital flowing into traditional and digital assets.

According to their market insights report published on August 10th , BTC ( Bitcoin) price is almost exactly where we started a week ago, hovering above 60k. It noted, “Truly an unbelievable and swift recovery, after getting hammered to 49k lows on Monday which was the worst single-day drawdown we’ve seen in years.”

The added that there were two major observations, the first is that there has been a fundamental shift in the liquidity profile of ETH relative to BTC. As per their analysis, while BTC is becoming increasingly integrated into the mainstream macro capital markets, ETH is becoming increasingly sidelined. This development likely stems from the distinct lack of interest in the ETH spot ETFs relative to the BTC spot ETF.

They believe that BTC as digital gold is a compelling narrative to investors while ETH is lacking one. This liquidity shift was made painfully obvious on Monday when ETH plummeted 22% compared to BTC’s 16%.

Yet they state that this is not necessarily negative for ETH price, because while Bitcoin has a propensity for exponential price gains, it also has a potential for larger drawdowns. They note in the report, “Before the ETH spot ETF, the difference in implied volatility between BTC and ETH was closer to 5%. Right now, it has expanded towards 20% and could be even higher. Perhaps the strategy here is to sell BTC volatility and buy ETH volatility.”

In terms of the second observation, they believe the Bitcoin is bullish. They attribute this analysis to the fact that despite what they call the crazy volatility, there was consistent demand for BTC calls expiring in 2025 with strikes close to 100K.

According to their analysis, the crypto market, is back on track towards a bullish year end.

UAE Cypher Capital invests in Bitcoin backed stablecoin protocol

UAE Cypher Capital invests in Bitcoin backed stablecoin protocol

UAE Cypher Capital, a multi strategy crypto investment firm, has invested along side lead investor CMS Holdings and Rocktree Capital in Satoshi Protocol, the first stablecoin protocol backed by Bitcoin. Satoshi Protocol has raised $2 million in its seed round.

As per the press release, Satoshi Protocol will utilize the seed funding to strengthen its security measures, expand integrations across multiple Layer 2 solutions, and increase its global presence. The protocol has integrated across platforms within the Bitcoin ecosystem, including BOB, Bitlayer, BEVM, Core Chain, Botanix, B^2, Alys/Anduro (Marathon Holding), and Omni Network. It recently collaborated with Binance Web3 Wallet Campaign, engaging over 172,000 users.

“The support from our investors is crucial as we work towards creating a universal stablecoin that meets the needs of Bitcoin users,” said Naka, Founder & CEO of Satoshi Protocol. “This funding allows us to achieve these critical development and market goals.”
Satoshi Protocol enables users to collateralize BTC/LST to mint the stablecoin $SAT on both Bitcoin mainnet and multiple Layer 2, pioneering a utility and stable asset on the Bitcoin ecosystem.

“Satoshi Protocol’s approach to integrating stablecoins is a real leap forward within the Bitcoin ecosystem,” commented Vineet Budki, Managing Partner at Cypher Capita. “This investment reflects our confidence in its ability to enhance liquidity options for Bitcoin users and Bitcoin’s overall utility.”

This is the second Bitcoin startup investor for Cypher Capital this year. It invested in February in Velar DeFi startup. It also co-led a $2.4 million investment round in German blockchain data analytics firm BitsCrunch.

The Blockchain scene is witnessing increased investments in stablecoin solutions and payment platforms. PEXX a fintech startup specializing in cryptocurrency and blockchain technology, today announced the successful closure of a $4.5 million seed funding. The investment will propel the development of the company’s innovative stablecoin to fiat payment platform.

Genesis Digital assets opens bitcoin mining datacenter in Argentina

Genesis Digital assets opens bitcoin mining datacenter in Argentina

Genesis Digital Assets Limited (GDA),a Bitcoin mining company with a presence in the UAE, is opening a new data center in Argentina powered by YPF Luz, a leading company in electric power generation.

The announcement comes during a period of expansion by GDA, which now operates 20 industrial-scale data centers across North America, South America, Europe, and Central Asia. The company’s first facility in South America is located in Rincón de Los Sauces, in the Neuquén Province and has a total capacity of 7 MW and 1 MW of backup.

The Bajo del Toro Thermal Power Plant, composed of YPF, Equinor and YPF Luz, will power 1,200 bitcoin mining machines, and efficiently monetize stranded gas, which would otherwise be flared into the atmosphere.

Speaking from the company’s Dubai office today, Abdumalik Mirakhmedov, Executive President of GDA, said: “We believe that Argentina is an important country for Bitcoin mining, given its abundance of energy sources and business-friendly environment.

“The opening of our first data center in South America is an important step in our geographic diversification efforts. And this will be yet another opportunity to show the world that Bitcoin mining can have a positive effect on the environment and can be fully integrated into local communities.”    

With an abundance of energy, a favorable political climate, and a strong crypto ethos, Argentina is becoming increasingly important for Bitcoin mining and the broader industry.

For the new data center, GDA will use the electricity generated from stranded gas provided YPF Luz, an electric power generation company that has been leading the energy transition since 2013.

As stated by the Intergovernmental Panel on Climate Change, methane gas adversely impacts the environment as it is responsible for approximately a third of the warming the world is experiencing. Methane mitigation techniques, such as the utilization of stranded gas, are important to reduce emissions and combat global warming.

“In 2022, we were the first Argentine company to generate electrical energy for cryptocurrency mining from flare gas, an innovative solution in line with YPF’s energy transition needs,” said Martín Mandarano, CEO of YPF Luz. “This project with GDA allows us to bring YPF and Equinor, two companies committed to reducing the carbon footprint of their exploration activities, an adaptable and sustainable flare gas use solution.”

UAE Match Systems retrieves $68 million worth of stolen bitcoin

UAE Match Systems retrieves $68 million worth of stolen bitcoin

UAE based Match Systems, a cyber security company specializing in AML (Anti Money Laundering) services, blockchain investigations, implementation of compliance procedures for cryptocurrency projects around the world has recovered $68 million of stolen Bitcoin crypto assets from Cryptex.

The incident occurred on May 3rd 2024, when a “dust” attack on cryptex exchange targeted a crypo whales resulting in the theft of 1,155.28 Bitcoins worth $68 million.

The stolen tokens were received by an unknown scammer to the address  0xd9A1C3788D81257612E2581A6ea0aDa244853a91, from which the funds were moved to the address 0xfB5bcA56A3824E58A2c77217fb667AE67000b7A6. After which the stolen funds began to be distributed in parts to several scammer’s addresses.

The victim immediately sought assistance from Match Systems. As a result of promptly conducted work, the assets were found and returned to the crypto whale in full in just a week.

As per the press release, this incident perfectly demonstrates that promptly contacting specialists in case of theft of crypto assets significantly increases the chances of the crypto fraud victim to get them back. Moreover, the earlier the victim seeks help, the higher the probability of getting the stolen funds back in full.

According to Match Systems the company provides unique information about cryptocurrency addresses involved in illegal activities, enabling them to protect participants of crypto market from blockages and losses.

In addition the company offers Compliance  & AML, Blockchain investigations (digital assets recovery), due Diligence, forensics/assets tracing (crypto and fiat), multi-account abuse detection and education.

In the past Match Systems had completed 23 cases retrieving $15 million. Examples of some of these cases, include Revil where damages amounted to $100 million and retrieved asset were $0.7 million, Hydra where damages amounted to $1.3 billion and retrieved assets found $3.2 million.

In the UAE, Match Systems works with UAE government including criminal investigation department, and digital forensics department.

First it was Qatar now its Abu Dhabi buying Bitcoin according to Max Keiser

First it was Qatar now its Abu Dhabi buying Bitcoin according to Max Keiser

Max Keisser the Bitcoin activist is at it again. Over the past months Max continues to make claims that a nation state is purchasing large amounts of Bitcoin. First, he pointed the finger at Qatar, claiming it would purchase $500 billion worth of Bitcoin.

Qatar obviously did not confirm or negate these claims; however, its central bank and government continue to prohibit the trading of cryptocurrencies noting the risky nature of these virtual assets. This has not stopped Qatar from embracing digital assets, and developing a regulatory framework as well as the digital assets Lab.

However, this has not discerned Keisser, he commented on an X (formerly twitter) post by Vivek4real that notes that an “undisclosed nation-state just bought another 100 Bitcoin. They now own 59K Bitcoin.”

Keisser comments on X that his new intelligence points to Abu Dhabi being the purchaser of Bitcoin. He states, “Just got some new intel . . .  Abu Dhabi is now the top contender.”

So now it is not Qatar but its Abu Dhabi, the capital of the UAE.

This while still seeming farfetched, could be closer to the truth than assuming that Qatar is purchasing Bitcoin. First Abu Dhabi and the UAE in particular have been positively approaching virtual assets. Both Abu Dhabi’s ADGM (Abu Dhabi Global Market) regulatory arm the FSRA as well as Dubai’s virtual asset regulatory authority (VARA) have come out with crypto regulations and have licensed crypto exchanges, and custodians.

Moreover Abu Dhabi is home to a Bitcoin mining farm co-owned and managed by Marathon Digital so it could be plausible that they are accumulating Bitcoin from revenues of the crypto mining farm. It is also the base of Phoenix Group another huge bitcoin mining investor.

So while Keisser continuously tries to allude to the fact that an rich oil country, or a country in the MENA region is buying up Bitcoin, the biggest governmental owners of Bitcoin are the United States, Britain, and Germany. They own the most Bitcoin according to Arkham Intelligence. The crypto analytics firm noted that the United States owns 212,847 Bitcoins.

What one can say for sure, is that the ownership of Bitcoin is falling more into the hands of institutional investors, and governments whether with Bitcoin ETFs or confiscated crypto.

UAE nuclear and blockchain expert appointed as advisor to Sustainable Bitcoin protocol

UAE nuclear and blockchain expert appointed as advisor to Sustainable Bitcoin protocol

U.S. based Sustainable Bitcoin Protocol (SBP), which aims to unlock Bitcoin’s potential to become the most transparent and sustainable asset has appointed UAE national, an entrepreneur and pioneer in nuclear energy technology, space industry and digital assets Ali AlNuaimi.

Ali Alnuaimi, will hold the position of advisor at Sustainable Bitcoin Protocol. As per the Xpost of SBP, “Ali brings a wealth of experience to Sustainable Bitcoin Protocol. His visionary leadership in launching the UAE’s 1st nuclear reactor & integrating blockchain technology into the energy & financial sectors is a testament to his expertise in sustainable #energy & technological innovation.”

The post adds, “Ali’s pioneering work in leveraging blockchain for energy sustainability aligns perfectly with the company’s objectives, promising to accelerate the adoption of #cleanenergy solutions in bitcoin mining.”

AlNuaimi holds other advisory roles in well renowned entities in the digital asset, AI and Blockchain fields. He is an advisor at Buildr.ai, Marathon Digital, Gigaenergy, and Mysten Labs, the creators of Sui Blockchain.

He is also the Founder and Managing Director of AI firm Shafra.

SBP enables investors to hold verifiably sustainable BTC through the introduction of a new environmental commodity derived from clean energy bitcoin mining, called the Sustainable Bitcoin Certificate (SBC). SBC are paired with BTC 1 for 1 by investors. SBC financially incentivizes Bitcoin miners to use verified clean energy sources.

Finally, SBP’s certificate allows Bitcoin to become fully sustainable with transparent clean energy use without disrupting the fungibility of BTC.

Sustainable Bitcoin Protocol is turning environmental sustainability into an appreciating commodity, in turn supporting clean energy bitcoin miners and helping investors reach their ESG goals.

SBC are a new environmental commodity specifically designed to align Bitcoin mining with climate action. SBC incentivize verified clean energy use and waste methane mitigation, as well as mobilize capital from investors toward the energy transition.

The SBP aims to bring in new revenue and energy transparency by mining Bitcoin with clean energy.

UAE has become a hub for Bitcoin mining, whether with Marathon Digital in Abu Dhabi, or Phoenix Technology, could this be the starting point for digital assets mining, using nuclear energy available in Abu Dhabi?

Valour offers access to digital asset ETPs in UAE

Valour offers access to digital asset ETPs in UAE

Valour, issuer of exchange trade products (ETP) simplifying the access to digital assets, and a subsidiary of DeFi Technologies Inc, a financial technology company that bridges the gap between traditional capital markets, Web3 and decentralized finance, has opened a trading desk in the UAE.

Valour issues exchange traded products (“ETPs”) that enable retail and institutional investors to access digital assets like Bitcoin in a simple and secure way via their traditional bank account

According to the press release, this initiative marks a significant stride in the Company’s mission to enhance global accessibility to regulated digital assets and underscores its commitment to global growth through Valour and Valour Digital Securities Limited’s exchange-traded products (“ETPs”).

This expansion into the Middle East is a key element of Valour’s strategy to increase its product offerings and global footprint. The UAE was specifically chosen for its progressive regulatory environment, high cryptocurrency adoption rate—where an estimated 27% of the population engages in crypto ownership — and its embrace of blockchain technology across multiple sectors. These factors make it an ideal location for fostering growth and extending Valour’s reach into new markets.

As part of this strategic initiative, Valour aims to expand its assets under management (“AUM”) by launching 15 new ETP products in 2024, in addition to the 17 already listed in Europe, followed by another 30 in 2025. This ambitious expansion plan capitalizes on the growth potential of the digital asset ecosystem, demonstrating Valour’s commitment to innovation and its leading role in the digital asset market.

Olivier Roussy Newton, CEO of DeFi Technologies, commented, “The launch of our trading desk in the UAE signifies a pivotal moment for both Valour and DeFi Technologies as we expand our global outreach. This is more than just entering a new market; it’s about integrating into a dynamic and evolving financial landscape that the Middle East represents. We are excited to embark on this journey, leveraging the UAE as a gateway to broader horizons and setting the stage for growth and opportunity.”

The establishment of a trading desk in the UAE represents the first phase of Valour’s plans for geographical expansion.  Valour is ideally positioned to leverage the increasing global demand for regulated and trusted access to digital assets and the rapidly expanding Web 3 ecosystem.

With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance.

Bitcoin Magazine to hold its first Bitcoin MENA conference in UAE

Bitcoin Magazine to hold its first Bitcoin MENA conference in UAE

UAE based ADNEC Group, an events management company, will be holding the first Bitcoin MENA Conference in partnership with Bitcoin Magazine and Capital events. The Bitcoin MENA Conference 2024 is set to take place December 9-10th in the heart of Abu Dhabi at the ADNEC Centre Abu Dhabi.

The event will be co-organized by Capital Events, the event management arm of ADNEC Group, and BTC Inc., the parent company of Bitcoin Magazine and the Bitcoin 2024 conference. The seminal partnership was cemented by a high-profile signing ceremony between Humaid Matar Al Dhaheri, MD and Group CEO of ADNEC Group and David Bailey, CEO of BTC Inc. The launch of this event marks a significant milestone in the world’s largest Bitcoin conference’s expansion into the investment-friendly, dynamic, and rapidly growing MENA region.

Humaid Matar Al Dhaheri Managing Director and Group CEO of ADNEC Group said: “Organizing this conference in the Emirate of Abu Dhabi reinforces its status as a regional and global epicenter for cryptocurrencies. It provides the region with a crucial platform for dialogue, discourse, and the sharing of knowledge and insights in this domain, contributing to shaping the sector’s regional trajectory for the future. The strategic collaboration with BTC Inc. to host the inaugural Bitcoin MENA Conference underscores the increasing global interest in investing in decentralized digital currencies in recent years. This partnership reflects our anticipation of future growth trends within this leading investment field.”

The Bitcoin Conference, produced by BTC Inc., is the world’s largest and most globally recognized conference brand dedicated to advancing the understanding and adoption of Bitcoin and blockchain technology. With a mission to foster collaboration and innovation, the conference brand brings together key stakeholders from across the global Bitcoin ecosystem to shape the future of Bitcoin and exhibit the latest developments, technology, and services.

Throughout this two-day event, participants will delve into the potential, challenges, and innovations within the developing Bitcoin ecosystem. Showcasing an impressive roster of expert speakers and influencers in the Bitcoin space, Bitcoin MENA is set to present a dynamic agenda complete with engaging keynote sessions, interactive discussions, and insightful workshops on key industry topics. These include the emergence of a new wave of banking and finance within the Bitcoin space, the dynamics of Mining, and the competition for energy dominance, along with insights into open-source initiatives tailored for the technical minds in the Bitcoin community.

Additionally, Bitcoin MENA 2024 will offer a variety of networking opportunities, fostering meaningful international and regional connections among participants whilst also providing a platform to showcase cutting-edge innovations and the latest developments in Bitcoin technology and services.

David Bailey, CEO of BTC Inc. noted, “Across our ecosystem, we have seen a significant upsurge in interest to enter the MENA region. When visiting Abu Dhabi, it became clear that it had all the right ingredients – infrastructure, investment, bold vision, and global access – to provide a perfect home for the international Bitcoin community to tap into the boundless opportunities this vibrant region has to offer. Capital Events and ADNEC Group are the ideal partners to collaborate with us on this journey as they bring world-class infrastructure and deep connections within the region to help supercharge growth and quickly establish Bitcoin MENA as the region’s go-to event.”

Darren Johnson, CEO of Capital Events added, “We are extremely excited to be partnering with BTC Inc. on this vital launch of Bitcoin MENA. Abu Dhabi’s increasing adoption of blockchain technology and friendly progressive regulatory environment have resulted in several high-profile industry licenses being awarded, thereby firmly positioning Abu Dhabi as the optimal hub for the flourishing adoption of Bitcoin in the region. It was clear early on in our discussions with BTC Inc. that we shared the same vision of creating an exceptional world-class event that would serve as a cornerstone in the region’s thriving Bitcoin landscape. We are confident that their deep specialist experience and global industry connections, coupled with our multi-sectoral experience and regional footprint, will make for a memorable launch and long-term growth.”