stc Bahrain collaborates with a new blockchain network, Conflux

stc Bahrain collaborates with a new blockchain network, Conflux

Conflux Network, a Layer 1 Blockchain network and stc Bahrain, a telecom operator anddigital enabler in the Middle East have collaborated in stc Bahrain’s Web3 Launchpad Program, specifically within the Pearling Path initiative, which aims to support emerging Web3 protocols as they expand in the Middle East.

Through this collaboration, stc Bahrain joins Conflux as a validator on the Conflux Network which will reinforce the security and efficiency of its consensus mechanism.

“This partnership with Conflux Network represents another step forward in our mission to position Bahrain as a hub for emerging technologies,” said Saad Odeh, Chief Wholesale Officer at stc Bahrain. “By operating a validator and supporting Conflux’s advanced blockchain infrastructure, we are empowering developers and enterprises to build transformative solutions, aligning with Bahrain’s Vision 2030.”

“We are thrilled to partner with stc Bahrain as a Pearling Path Partner under the Web3 Launchpad Program,” said Christian Oertel, Global Expansion Lead at Conflux Network. “Bahrain’s strategic location as a gateway between the Middle East and Asia creates a unique opportunity to drive blockchain innovation and connect decentralized economies across these regions. Together with stc Bahrain, we aim to build a secure and scalable foundation for decentralized applications.”

stc Bahrain has partnered with several blockchain networks over the past few years. Earlier this year decentralized privacy-focused network Nillion partnered with stc Bahrain as well as with Nirvana Labs.

Dubai’s Web 3.0 Momentum Accelerates with Unchained Summit

Dubai’s Web 3.0 Momentum Accelerates with Unchained Summit

As the city gears up to host the much-awaited Unchained Summit at the Kempinski Central Avenue on 28th and 29th April, a tide of excitement is rolling over the region’s Web 3.0, Blockchain, and Digital Assets industries.


The summit, hosted by Aeternum, promises more than an average Web 3.0 conference. It’s a high-conviction meeting of founders, investors, policy shapers, and enterprise leaders driving the frontiers of how decentralized infrastructure will transform identity, finance, and trust in the digital world.


Dubai’s Web 3.0 momentum is no longer a whisper, it’s a global signal. As the world tilts toward decentralized infrastructure, Dubai has emerged as the nexus where policy, capital, and innovation come together. With government-backed regulatory clarity, enterprise-grade adoption, and a thriving ecosystem of startups and investors, the emirate is fast becoming the capital of the decentralized ecosystem. Unchained Summit is more than a symptom of this energy; it’s the driving force. The Dubai edition brings global architects of Web 3.0 together in one place, making Dubai a living laboratory for what the internet of value, trust, and autonomy really is.


From builders to billionaires, Unchained Summit’s lineup of speakers include:
• Ronghui Gu, Co-Founder, Certik
• Ella Zhang, Head, YZi Labs
• Kostas Chalkias, Co-Founder and Chief Cryptographer, Mysten Labs
• Sreeram Kannan, Founder & CEO, EigenLayer
• May Zabaneh, VP of Product – Blockchain, Crypto & Digital Currencies, PayPal
• Greg Scanlon, VP Quantitative Blockchain, Franklin Templeton Digital Assets, Franklin Templeton
• Keone Hon, Co-Founder, Monad Foundation
• Lennix Lai, Global Chief Commercial Officer, OKX
• Nils Andersen-Röed, Global Head of FIU, Binance, and more.
“Web 3.0 is a collective movement, and Unchained Summit is where the next wave of builders and thinkers come together. We’re here to drive the conversation. Web 3.0’s growth hinges on infrastructure that can scale — it’s about throughput, cost-efficiency, and long-term sustainability. We’re proud to be at Unchained Summit, pushing the notion on sustainable blockchain designs,” said Abhijit Shukla, Founder of TAN Blockchain.


Richard Ma, CEO & Founder of Quantstamp said, “I’m honored to be speaking at Unchained Summit, a premier event bringing together visionary leaders and innovators in the Web 3.0 ecosystem. At Quantstamp, we’re dedicated to securing the future of blockchain, and I look forward to sharing insights on advancing security, trust, and resilience within this rapidly evolving industry.”


“Markets are moving on-chain—not just assets, but access, distribution, and users. We’re excited to be at Unchained Summit talking about what it takes to put real-world assets in the hands of real people,” said José F. Pereira, Executive Director, Own.
“Web 3.0 moves fast—and the ones who show up shape where it goes. Unchained Summit brings together the doers, not just the talkers. At TBV, we’re here to back the founders turning big ideas into real traction,” said Tobias Bauer, General Partner, TBV.


“Dubai is no longer just participating in Web 3.0, but it’s directing traffic,” says Sharath Kumar, Founder & CEO of Aeternum and organizer of Unchained Summit. “This is the one of the first real moments where we’re seeing decentralized technologies collide with institutional capital, national policy, and entrepreneurial energy—all in one city.”


Unchained Summit’s official sponsors include:
• Platinum Sponsors: Mesh and Own
• Afterparty Sponsor: Consciousness
• Gold Sponsors: KoinBX, MOI Technology, and TAN Blockchain
• Silver Sponsors: AEON, BTSE, Mantle Network, and f(x) Protocol
• Bronze Sponsors: BlockchainX, Gresham International, EcoTrader, and Threshold
• Official Media Partner: Coin Edition


With increasing interest in industries ranging from AI-driven gaming to tokenized assets, Unchained Summit indicates a wider industry transition: Web 3.0 is increasingly finding its way into mainstream enterprise planning. And as a result of this, after its Dubai edition, Unchained Summit is set to make its India debut on 5th and 6th December 2025, reaffirming its commitment to bridge APAC, Middle Eastern, and European Web 3.0 & Crypto ecosystems.
As the Dubai chapter draws to a close, one thing is certain: the decentralized future is no longer a distant prospect; it is happening already.
Tickets for the Dubai edition are on sale on the official site: unchainedsummit.com

UAE mobile gaming platform Rise of Fearless launches

UAE mobile gaming platform Rise of Fearless launches

Rise of Fearless, a UAE mobile gaming platform that merges African storytelling with immersive battle royale gameplay, has officially launched targeting over 680 million mobile users in an industry projected to reach a value of $3.72 billion by 2029.

Rise of Fearless is now available on the Apple App Store and on Google Play in its early release phase with plans to expand to other platforms.

Rise of Fearless offers intense, skill-based battle royale combat that is deeply rooted in Africa’s heritage and history – inspired by Ethiopia’s victory at the Battle of Adwa. The game launches as a free-to-play mobile experience to ensure accessibility to a broad audience.

As part of its future roadmap, Rise of Fearless plans to integrate Web3 technology and allow players to own in-game assets, earn rewards, and participate in a secure digital economy. The move to blockchain will empower African gamers with new financial opportunities, especially in regions with limited access to traditional banking.

The African gaming industry is growing at 12 percent annually outpacing global averages.

Rise of Fearless will utilize open-source smart contracts in its Web3 phase, giving players full ownership of in-game items, such as weapons, skins, and rewards. The blockchain-based system will create a fair, transparent, and financially rewarding gaming experience.

Kanessa Muluneh, founder of Rise of Fearless, noted, “As an Ethiopian-born entrepreneur in Dubai, I have experienced how the UAE’s ecosystem empowers changemakers and connects countries and cultures with gaming communities. We have invested significantly in developing Rise of Fearless and are now raising USD 700,000 to expand the game, enhance gameplay, and transition to Web3. This funding will allow us to build a blockchain-powered gaming ecosystem where players can truly own their digital assets and unlock new financial opportunities for gamers across Africa. With this expansion, Rise of Fearless will not only push the boundaries of African gaming but also drive knowledge transfer, job creation, and social impact in one of the fastest-growing gaming markets in the world.”

MantraChain OM Token is burning

MantraChain OM Token is burning

MANTRA Chain has announced through its CEO and Founder , John Patrick Mullin that they are currently burning 150 million allocation of team tokens. He had made this promise last week in an effort to rebuild trust and demonstrate an a focus on building trust, accessible and inclusive financial ecosystem through tokenization.

As per the announcement the Team and Core Contributor tokens were staked at mainnet genesis, in October 2024, to bootstrap network security. The process of unstaking 150 million tokens from the Team and Core Contributor bucket has now begun. It can be verified through the following transaction hash;

CE0E166DED4F267B22F16D011A7F511FFDDB4AADB31A2FE6A0E6E81690E339AA

DFB6C3DDFFDC09B9B2A16175401D8B7DB81C79C774203E17859694FA9D8C79C5

7D056D17F2A57A27E807FB9F12E739B24306FC7B8B651B27622A022EC18EFD5D

The unstaking period will be completed on 29 April 2025. Once this process is finalized, all tokens will be sent directly to the burn address: mantra1qqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqcg2my8.

These tokens will be permanently removed, reducing the total supply by the same amount, 150 million OM.

The announcements also added that MANTRA is in ongoing conversations with key ecosystem partners to implement an additional 150 million OM token burn, which will bring the total burn amount to 300 million OM.


After unbonding, MANTRA Chain will burn 150 million OM, reducing the total supply from 1.82 billion OM to 1.67 billion OM while decreasing staked tokens from 571.8 million OM to 421.8 million OM.

This strategic burn will lower the bonded ratio from 31.47% to 25.30%, resulting in an increase in staking APR. Once the burn transaction has been executed and confirmed on the blockchain, complete verification will be provided.

This comes a week after Mantra Chain, the Layer one tokenization platform, regulated in the UAE by Dubai’s Virtual Asset Regulatory Authority, has shed almost $10 billion dollars in less than 24 hours on April 13th 2025. The OM token price dropped from around $6 dollars to 0.37 in a matter of hours.

At the time both investors, Shorooq and Laser Digital denied that they had sold their OM Tokens, while Mantra Chain CEO seems to be pointing hands towards the crypto exchanges, when he shared his preliminary report.

ResolvLabs raises $10 million led by CyberFund

ResolvLabs raises $10 million led by CyberFund

ResolvLabs, a Delta-Neutral Stablecoin which offers delta-neutral yield strategy to USR stablecoin holders, inspired by structured finance products, has raised $10 million. The Co-Founder, and CEO Ivan Koslov, is based in Dubai UAE, yet ResolvLabs has no headquarters or location.

 The fundraising was led by Cyber.Fund and Maven11, with Coinbase Ventures, SCB Limited, Arrington Capital, Animoca Ventures also participating. As per the X post, ” With our target at $500k and oversubscription x10 we allocated $600k, appreciating the interest and support.”

In the coming months, the protocol plans to onboard additional yield sources, including BTC-based strategies, expand to new chains, and deepen integrations with DeFi partners and institutional asset managers.

As per the post their mission is to build a crypto yield powerhouse, empowering users and builders across DeFi to access secure, transparent yield at the protocol layer.

Animoca Ventures on an X post noted that they were proud to support ResolvLabs as they unlock secure, protocol-level yield, expanding to BTC strategies, new chains, and stronger DeFi and institutional integrations. Crypto yield demands trust, transparency, and talent. They’re delivering all three.

While delta-neutral backing provides great benefits, it also comes with risks. And stablecoin is only stable until it is not. That is why they have isolated these risks from the stablecoin and channeled them into a scalable tokenized protection layer, represented by Resolv Liquidity Pool (RLP), which is great for leveraged delta-neutral yield farming.

Resolv Labs, is the firm behind the $450 million decentralized finance (DeFi) protocol Resolv. “I view stablecoins as the perfect rails for yield distribution,” Ivan Kozlov, founder and CEO of Resolv, said in an interview with CoinDesk. “This may actually become larger than transaction stablecoins like [Tether’s] USDT in the future.”

With the new capital raise, Resolv plans to expand its yield sources to include bitcoin (BTC)-based strategies and deepening its integrations with institutional digital asset managers, Kozlov said. The protocol also aims to expand to new blockchains, widening its reach beyond early crypto adopters.

Fuze subsidiary Niobe licensed for digital asset payments in UAE

Fuze subsidiary Niobe licensed for digital asset payments in UAE

Fuze, a digital asset Blockchain enabled financial infrastructure providers, subsidiary Niobe Payment Services has been licensed to offer digital assets payments by the Central Bank of the UAE. The company now holds a Retail Payment Services and Card Schemes (RPSCS) license.

Fuze Group, through its subsidiary Niobe Payment Services LLC SPC, is now both a fully licensed operator for digital assets infrastructure and, through its payments infrastructure division, a regulated payment services provider for the region.

As per the press release, the new license will enable businesses to benefit from faster, more secure payment options, reduced transaction times and end-to-end compliance.

Mohammed Ali Yusuf (Mo Ali Yusuf), CEO and Co-Founder of Fuze said, “This license is the launchpad for the next generation of payments. It marks a key step in our mission to provide digital and AI-enabled infrastructure that will drive the future of finance and transform payments. We are privileged to be granted this license from the Central Bank and look forward to providing cutting-edge, compliant payment infrastructure and novel solutions – like virtual IBANs – for a range of businesses.”

Fuze’s technology will enhance digital payments, supporting the UAE Digital Economy Strategy, which aims to double the contribution of the digital economy to the UAE’s GDP to 19.4 per cent by 2032.

Through its strong regulatory foundation, Fuze is now launching a new payment platform that combines AI-driven technology, user-friendly design, and integrated compliance features, to simplify and support modern business needs.

With the license in place, Fuze will soon roll out a comprehensive, compliant suite of payment products with features that include digital payments and settlements through real-time infrastructure, AI-enhanced compliance and fraud detection engine, virtual IBANs to make it easier to collect payments and manage funds, and merchant tools to help UAE-based businesses to manage payments and grow

Mantra Blockchain shares preliminary report awaiting crypto exchanges collaboration

Mantra Blockchain shares preliminary report awaiting crypto exchanges collaboration

UAE regulated Mantra Blockchain platform for the tokenization of real world assets has published a preliminary report on the OM Token price fall.

As per the post On 13 April at approximately 18:28 UTC, the OM token experienced significant and unexpected downward price action, resulting in a 92% decline over a period of approximately one hour. This unusual market activity has raised questions within our community, and we acknowledge the concerns expressed by our token holders during this period of market volatility.

The post notes that the Mantra team have been conducting a thorough investigation to find our the key factors contributing to the rapid price movement and present verifiable data confirming the current OM Token circulating supply.

Mantra states, ” Our objective is to deliver a fact-based assessment that addresses community questions and outlines measures to strengthen market resilience. While our investigation remains ongoing, we are committed to sharing verified information in a timely and transparent manner. We appreciate the community’s patience as we compile a comprehensive understanding of this market event.”

No sales of OM token were made by the MANTRA team or advisors as those remain locked, however ERC-20 OM tokens are in public circulation and outside of Mantra’s control.

  1. Legacy ERC-20 OM Tokens (Fully Circulating)
    The original OM token (ERC-20) was launched in August 2020 with a fixed total supply of 888.88 million OM. As of 15 April, 2025, 99.995% of these tokens are in public circulation, held by more than 123,000 wallets, meaning they are fully liquid and tradable on the open market. Key allocations from the original OM ERC-20 tokens — including public/private sales, team/advisors, grants, reserves, referrals, and staking rewards—have all been fully distributed. This means market activity for these tokens is driven by holders and external trading dynamics. Further details on the ERC-20 OM buckets and balances can be found in Appendix A.
  2. MANTRA Chain Mainnet OM Tokens (Limited Circulation)
    In October 2024, the launch of MANTRA Chain introduced an additional 888.88 million OM coins minted natively on the new blockchain, alongside an onchain inflation mechanism. Currently, 77.5 million OM of these MANTRA Chain coins are in circulation. There are currently over 200,000 mainnet OM wallets. Further details on the Mainnet OM buckets and balances can be found in Appendix B.

  5. The total OM supply stands at 1.81 billion tokens, split evenly between legacy ERC-20 and new Mainnet OM. Of this:
  • 53% (969.61 million OM) is currently circulating. Nearly all circulating supply (92%) comes from the fully liquid ERC-20 tokens, with just 8% originating from Mainnet OM. As per Mantra the incident almost exclusively involved ERC-20 OM, as ERC-20 OM represents virtually the entire liquid market.

    MANTRA acknowledges that significant amounts of OM tokens were moved onto exchanges for use as collateral. Based on MANTRA’s review of independent observations (here and here) of the incident, it is evident that there were forced OM position closures during a period characterized by reduced market activity (around 02:00 am Monday HKT). These liquidations created excessive selling pressure on the OM token market.

    As per the analysis of Mantra, the forces liquidations according to Mantra initiated a sequential market reaction which pushed the price downward which triggered automated liquidation events across exchanges for leverage positions using OM as collateral. A divergence on OM Token spot price between OKX and Binance was noted in hours commending around 18:00 UTC. As such Mantra noted that significant OM Traders were liquidated by centralized exchanges, and that they are awaiting further information from crypto exchange partners for clarification.

    As for the future Mantra plans to release details of its OM Token support plan with OM Token buyback and supply burn program. The CEO and Founder John Patrick Mullin, has committed to burn his team allocation. Mantra calls on centralized exchanges to collaborate and provide clarity on trading activities while Mantra releases a dashboard with live balances of tokenomics buckets for additional market transparency.

    Kratos decentralized gamer network launches regional headquarters in Bahrain

    Kratos decentralized gamer network launches regional headquarters in Bahrain

    Kratos Gamer Network (KGeN), a global Blockchain and AI decentralized gamer network, has launched its Middle East and North Africa (MENA) regional headquarters (HQ) in Bahrain. With over 21 million global gamers, KGeN begins on-ground operations in the MENA region to cater to the growing gaming market, which continues to experience unprecedented growth.

    KGeN MENA headquarters introduces the universal gamer reputation framework, enabling gamers in the region to claim their legacy through the globally accepted “Proof of Gamer” system and to join the KGeN gamer network. KGeN’s Bahrain HQ is set to serve as a bridge between gaming communities in MENA and global game publishers seeking to engage with the passion of the gaming community in the region.

    KGeN’s MENA headquarters in Bahrain also aims to drive innovation and growth in the rapidly evolving gaming and gamification ecosystem in the region via its blockchain-based user identity, reputation and loyalty framework to consumer-facing regional publishers who are looking at engaging their consumers via cutting-edge gamified and immersive offerings.

    Manish Agarwal, Co-Founder of KGeN, highlighted that Bahrain’s progressive digital infrastructure and supportive business environment make it an ideal location for KGeN’s regional expansion. He emphasised that KGeN are excited to contribute to the region’s thriving gaming industry by providing top-tier technology solutions, partnerships, and expertise.

    KGeN’s expansion aligns with its vision to empower consumer enterprises through AI-driven and blockchain-enabled gamification offerings. By leveraging Bahrain’s advanced ICT sector, KGeN aims to tap into emerging opportunities and collaborate with local and international consumer-facing entities.

    Ali Al Mudaifa, Chief of Business Development at the Bahrain Economic Development Board (Bahrain EDB), emphasised that the strategic decision to establish their regional headquarters in Bahrain is a strong testament to the Kingdom’s dynamic and rapidly evolving tech ecosystem, which continues to attract a diverse range of innovative companies. He noted that it also highlights Bahrain’s growing reputation as a destination of choice for companies seeking access to skilled digital talent and world-class infrastructure.

    Al Mudaifa noted that this milestone further strengthens Bahrain EDB’s commitment to supporting the development of the MENA region’s gaming industry, which is projected to reach a market value of USD 2.8 billion by 2026.

    UAE Central Bank licenses Relm and Liva insurance to offer insurance for Web3 businesses

    UAE Central Bank licenses Relm and Liva insurance to offer insurance for Web3 businesses

    UAE Central Bank has licensed Relm Insurance a dedicated insurer to emerging sectors – and Liva Insurance, a GCC insurance provider to offer their dedicated multi-line insurance solution for WEB3 businesses – SIGMAWEB3, and its tailored version for Dubai’s virtual asset regulatory authority VARA-regulated companies, SIGMAWEB3 VARA.

    As per the press release, this follows the signing of Relm and Liva’s strategic partnership in February 2025, aimed at empowering innovation and entrepreneurship in emerging sectors such as digital assets, biotech and AI.

    The UAE Central Bank approval reinforces Relm and Liva’s commitment to deliver tailored insurance solutions that address the unique

    SIGMAWEB3 and SIGMAWEB3 VARA will help create the confidence and resiliency that WEB3 innovators require to tackle complex challenges and seize new opportunities, while meeting the necessary regulatory requirements. Both products are designed specifically for digital asset companies, blockchain startups, crypto exchanges, and fintech innovators, addressing the unique and complex financial, professional, crime, and cyber exposures inherent in their operations.

    SIGMAWEB3 VARA is specifically tailored to meet the requirements of Dubai’s Virtual Asset Regulatory Authority (VARA), ensuring that crypto companies can operate with compliant insurance cover.

    “Securing Central Bank approval for SIGMAWEB3 and SIGMAWEB3 VARA is a significant step for brokers and clients in the UAE. This milestone facilitates more comprehensive coverage tailored to the unique risks of the Web3 space. By closing the insurance gap, we’re empowering businesses with the protection they need to innovate confidently in a rapidly evolving market” said Joseph Ziolkowski, CEO of Relm Insurance.

    “SIGMAWEB3 and SIGMAWEB3 VARA represent a significant step in our commitment to supporting growth and evolution of innovation within the insurance industry. This approval from Central Bank affirms both Liva Group’s deep market insight and Relm’s expertise in specialised insurance as well as reinforcing the vital role that regulatory collaboration plays in fostering a secure and thriving digital economy. Together, we aim to provide customers with solutions that meet their evolving needs, while strengthening our commitment to scale and diversify our business.” Martin Rueegg, Group CEO of Liva Group.

    A year earlier OneDegree, Asia’s licensed insurer for digital assets and Dubai Insurance Company announced the issuance of digital assets custodial risk insurance to their customers in UAE. The Central Bank of UAE approved issuance of the digital asset insurance offering.

    OneDegree and Dubai Insurance partnered in 2023. Custodial risk insurance completes the product portfolio and allows the partners to offer a one-stop-shop for digital asset companies in the UAE, under the brand “OneInfinity”.

    VARA, Dubai’s dedicated regulator for digital assets, requires such coverage along with professional indemnity and directors & officers insurance. With this latest approval, specialized custodial risk insurance can be offered directly in UAE for the first time. Custodial risk insurance protects companies against the risk of losing access to digital assets including through third party hacks and theft, internal fraud and physical damage to the storage media.