Wemade has signed WEMIX PLAY onboarding contracts with INFTY ART FZ-LLC and FYE Software FZ-LLC, developers based in the United Arab Emirates.
INFTY ART is set to introduce ArToys, a metaverse platform that sells character toy NFTs. At ArToys, collectible NFTs using character IPs and utility NFTs used in games will be sold. These utility NFTs will be applicable within games later on.
FYE Software is developing Strifest, an arena shooting game based on Unreal Engine 5. Players participate in combat to gain abilities and destroy the opponent’s base. They can also enjoy various content such as 4 vs. 4 team battles, guilds, and tournaments.
Wemade has established a local office in the United Arab Emirates and is expanding its blockchain business in the Middle East by consecutively signing onboarding contracts with various developers.
Wemade onboarded Whampoa Digital as an ecosystem partner for its $100 million Web3 Fund in UAE. Wemade also partnered with Whampoa Digital for its WEMIX Play center in Dubai International Financial Center Innovation Hub ( DIFC Innovation Hub).
A 2022 candidate for the U.S. Senate, Co-Founder of the Satoshi Roundtable retreat, and managing director of Chainstone Labs, Bruce Fenton, is heading to Saudi Arabia to bring Bitcoin education and investment into the country. ChainStone Labs is a Stealth mode financial tech company focused on tokenization of securities and digital assets backed by hard assets.
In an X post, Bruce Fenton states, “As we enter a new phase in the markets and maturity of our space there are new opportunities to change the world. The most impactful thing I can think of to do this cycle is to help bring Bitcoin and related technology to Saudi Arabia and invest in building the ecosystem in this important country.” Blockchain is considered a related technology to Bitcoin and crypto.
He adds, “I plan to invest heavily in capital and time and also bring many other investors and companies and startups. The timing for the Kingdom and this technology is perfect now.”
According to Fenton he considers Saudi Arabia as his second home as he has lived and worked there over the years. He notes that the KSA is set to enter a new era of growth and leadership in global finance.
Fenton is the Co-Founder of Satoshi roundtable. The Satoshi Roundtable is characterized by high-level private discussions in a private relaxed venue. The Roundtable brings together leading developers, CEOs, founders, scientists, academics and investors. With each iteration, we have learned and grown as our industry has continued to evolve.
In his X post he notes that there is great interest in this technology from a variety of sectors in KSA, especially young investors, trading families and youth.
So Fenton plans to increase the understanding at senior levels of government, with education among religious leaders as well. He states, “We are working with Islamic scholars like Mu’aawiyah Tucker who understand Bitcoin, fintech and cryptocurrency to increase knowledge about this technology from an Islamic finance standpoint. I’ll be bringing delegations, helping companies and investing in key initiatives that can bring this industry forward.”
Recently Bandar AlTunisi, Head of Development at Binance in Saudi Arabia, high level digital currency regulation could come out in Saudi Arabia tomorrow or in a month’s time. This comes as Saudi Arabia is becoming host to the highest paid Blockchain developers in the region.
MANTRA Chain a Layer 1 blockchain for real world tokenization, has raised $11 million led by UAE based Shorooq Partners with investors including Three-point capital, Forte Securities, VirtuZone, Hex Trust and GameFi Ventures. The news which was published in Coindesk stated, that Mantra Chain was in the final stages of receiving licenses from Dubai’s crypto regulator, VARA.
John Patrick Mullin told CoinDesk, “These approvals will be essential in MANTRA’s plans to build and host a suite of compliance-minded tools for issuing and trading RWAs.”
MANTRA’s network isn’t yet live, meaning no one can issue or trade RWAs quite yet. But it is planned for Cosmos, a network of closely linked albeit independent blockchains. Cosmos doesn’t yet have a designated so-called app-chain for trading tokenized RWAs, according to MANTRA’s documents.
Once live MANTRA will focus on the “crypto native” crowd, which is to say, the people already familiar with crypto, decentralized exchanges, on-chain borrowing and lending and so-forth.
Earlier this week, Layer 1 blockchain, MANTRA had announced that it has applied for a license in both the UAE and HongKong as it aims towards making real world asset tokenization mainstream. MANTRA’s layer1 blockchain, known as MANTRA Chain, is designed to facilitate the issuance and trading of tokenized RWAs. MANTRA is on a mission to onboard financial organizations and other commercial enterprises that seek to tap into the many benefits tokenized RWAs have to offer.
Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, collaborated with virtual asset service provider CoinMENA FZE, to provide users with a seamless and secure onramp from fiat to crypto via card deposits.
The announcement was made at a signing ceremony led by Pankaj Kundra, Group Head of Products, Partnerships, and Enterprises at Network International, and Talal Tabbaa, CEO of CoinMENA.
CoinMENA is regulated and licensed by Dubai’s Virtual Asset Regulatory Authority, and the Central Bank of Bahrain. CoinMENA enables investors to buy, sell, send, receive, and store digital assets safely and securely.
CoinMENA Co-Founders Talal Tabbaa and Dina Sam’an said in a joint statement, “Partnering with Network International, the leading enabler of digital commerce in the MENA region, marks a significant milestone in our commitment to providing our users in the UAE with seamless and secure onramps to crypto. With the ability to deposit fiat to their CoinMENA wallet instantly via cards, our users can now experience a streamlined and efficient process. This aligns with our mission to continually enhance the accessibility and convenience of crypto services. We look forward to leveraging Network International’s industry leadership in the UAE and providing the best experience possible for our users.”
Pankaj Kundra, Group Head of Products, Partnerships and Enterprises at Network International, said, “Network’s legacy of 30 years of providing cutting-edge payment solutions allows us to capitalise our experience and expertise across next-generation platforms such as crypto and digital asset financial services. Our collaboration with CoinMENA will provide UAE investors with an additional option to use their cards to fund their CoinMENA wallets.”
He added, “Deposits using cards is the most convenient way for users to fund their crypto wallets. We look forward to supporting CoinMENA by strengthening their onramp capabilities, through our best-in-class N-Genius payment gateway. Our partnership further reaffirms our commitment to streamline digital payments in the region in line with the UAE’s bid to become a financially inclusive and cashless economy.”
Recently CoinMENA expanded its family office, investor and institutional offering through a partnership with Onramp Bitcoin. Onramp is an international Bitcoin asset management company built on multi institutional custody.
GenomeFi, a specialized Web3 Blockchain and AI platform providing Decentralized Identity (DID) services based on individual genetic characteristics using NFTs, has acquired a business license and a free zone license within the Dubai Multi Commodities Center (DMCC) in Dubai, UAE.
Using AI technology, GenomeFi facilitates genetic information-based NFTs to provide identity verification services reflecting individual genetic characteristics. It aims to expand the ecosystem where DID services and genomic information are available across the spectrum, from genomics to biotechnology. GenomeFi also seeks to establish an incentive system using blockchain technology and encourage mass adoption of genomic content.
The GenomeFi Foundation, along with its core partner CLINOMICS, provides genomic medical solution services through the world’s best Genome-based diagnostic kits, monitors early diagnosis of cancer/disease through liquid biopsy and multi-omics technology, and provides personalized prescriptions, and personalized treatment services. Starting with Clinomics, a key partner, the expansion and popularization of medical services through cooperation with various medical institutions and medical companies can be used in real life by lowering accessibility through distributed ledger technology and Web 3.0, and participants in the GenomeFi ecosystem can receive services.
GenomeFi plans to intensify its business expansion in Dubai, based on networking and cooperative relationships with DMCC member companies.
In addition to collaborating with Web3 companies in Dubai, GenomeFi will focus on realizing a proof-of-concept business model that bridges the blockchain and medical industries through collaboration with genome-based medical centers.
Jimmy Choi, CEO of GenomeFi, stated, “Acquiring the DMCC license will strengthen our position in the Middle Eastern market based on Dubai and lay the groundwork for expanding our partners. We are preparing to conduct collaborative projects in various parts including investment, marketing, medical, on-chain, and community.”
UAE RAK DAO, Ras Al Khaimah Digital Assets Oasis, has attracted Indian and Chinese Web3 Blockchain entities as it licensed 100 digital asset and Blockchain licenses. According to the press release, RAK DAO has issued the most licenses to Indian companies, 15% to be exact. Following closely is China.
These global entrepreneurs not only leverage RAK DAO’s strategic location in the UAE but also tap into its comprehensive ecosystem of services meticulously crafted to meet their evolving needs. From blockchain, digital assets, and AI services to consulting, RAK DAO equips its licensees with the essential tools and support required for success in the digital asset era. With the majority of companies registering with RAK DAO being global web3 and blockchain entities, the ecosystem fosters a thriving environment for cutting-edge innovation and technological advancement.
DAO Hive, the innovative business center unveiled by RAK DAO, is offering flexible membership packages for entrepreneurs to flourish in a collaborative environment with state-of-the-art amenities and networking opportunities.
“As we celebrate this remarkable milestone of issuing over 100 licences in well under a year, we reaffirm our commitment to driving innovation and fostering growth within the global web3 and blockchain sector,” says Dr. Sameer Al Ansari, CEO of RAK DAO.
He adds, “DAO Hive stands as a testament to our vision of creating a dynamic ecosystem where pioneering ideas converge and businesses thrive. This achievement not only underscores the success of RAK DAO but also reflects the resilience and dynamism of Ras Al Khaimah’s business landscape. We are proud to be at the forefront of shaping the future of the web3 industry, offering global entrepreneurs unparalleled opportunities to flourish within DAO Hive and beyond.”
RAK DAO has signed many partnerships with blockchain and digital asset entities since its launch, the latest being with BlockLogica.
Tungsten headquartered in UAE has officially launched the first home grown and regulated crypto custodian after receiving a license from UAE’s Financial Services Regulatory Authority (FSRA) to operate at the Abu Dhabi Global Market (ADGM). The platform is designed to store digital assets securely for institutional investors.
Over 12 months to July 2023, the value of digital assets received by the UAE was over US$34.9 billion (Chainalysis). Approximately 67%, or around US$23 billion in transactions, was carried out by institutional investors, demonstrating a significant opportunity for specialist digital assets custody.
As a regulated custodian, Tungsten aims to provide peace of mind for institutions investing in digital assets, including cryptocurrency.
Arvind Ramamurthy, Chief of Market Development at ADGM said, “We congratulate and welcome Tungsten to Abu Dhabi’s international financial centre, ADGM. As much as the ever-evolving digital asset space needs regulatory controls to protect investors, it also needs risk management services that enable them to understand and invest securely. The concept of Tungsten revolves around this and allows it to harness the opportunities within this industry. As custodian of virtual assets, Tungsten’s offerings, coupled with ADGM’s vibrant ecosystem and progressive regulations for digital assets, will empower investors and maintain market integrity with robust solutions.”
Chris Desjardins, Tungsten Founder and Senior Executive Officer said:“Digital assets present unprecedented opportunities across generations, yet the cornerstone of realising their potential lies in establishing a trusted investment environment. The UAE is at the forefront of this transformation, crafting a robust framework for digital assets that not only sets a global benchmark but also positions it as a pioneering force in the finance sector of tomorrow. Our immense pride stems from being developed and regulated within the UAE, a testament to our commitment to excellence and innovation in this dynamic landscape.”
Tungsten provides secure, regulated crypto custody so clients can confidently invest in digital assets. It is led by Chris Desjardins, an industry veteran with deep knowledge and experience in building and growing digital assets and cryptocurrency solutions. Previously, he co-founded Big Index, a Canadian institutional crypto wallet technology provider successfully acquired by Brane Inc., where he became Head of Product. Through his leadership, Tungsten sets an unparalleled benchmark for digital asset custody.
Tungsten is independent and segregated from other digital asset services, such as the trading of crypto assets, focusing purely on safeguarding clients’ digital assets. The business ensures secure online and offline procedures, including bank-grade physical vaults, enterprise-grade wallet management and world-class network hardware. Additionally, clients benefit from strong governance and high insurance coverage, providing utmost reassurance to institutional investors.
Over 2024, Tungsten, the UAE homegrown crypto custodian will scale customer acquisition, catering to a growing demand from regional institutional investors, family offices, asset managers, and high-net-worth individuals (HNWIs).
Tungsten had previously started hiring for key positions and as per their press release will continue to.
New research backed by DP World, showed that Egyptian businesses plan to leverage technology to enhance supply chain efficiency and agility with 28 percent of them exploring the use of Blockchain. As per the research 28% of Egyptian executives surveyed want to leverage technology. In addition, 33 percent are exploring advanced automation, and 28% want to use Blockchain to improve traceability, security, and data protection.
As Egypt’s economy expands into new sectors and positions itself as a manufacturing hub in Africa, 28% of executives view market expansion as the key driver for export growth. Europe (37%) and North America (34%) are expected to significantly boost export revenue in 2024. Technological advancements (35%) are anticipated to increase output levels and import values.
Rizwan Soomar, CEO & Managing Director of DP World for North Africa & the Indian Subcontinent, commented, “Aware of current economic and geopolitical hurdles, we echo the optimism of the surveyed Egyptian executives. They aim to fortify their supply chains with technology and explore new growth markets. These findings align with DP World’s initiatives in Egypt, where technology implementation addresses business challenges and bolsters resilient supply chains. For instance, at the Port of Ain Sokhna, our technology has improved truck turnaround times by 35% and vessel productivity by 16%. We’ve also introduced multi-channel payment solutions and customer self-service applications for real-time data access, enhancing cargo control and visibility. Together with our development of end-to-end logistics solutions in Egypt, underpinned by DP World’s CARGOES suite of technology platforms, we aim to build resilient supply chain solutions that enable businesses to navigate the challenges of trade seamlessly and efficiently.”
DP World itself has been strongly utilizing technology. For example DP World, Fintech owned platform, DP World Trade Finance partnered with Blockchain enabled UAE Trade Connect to transform trade finance and combat fraud across the UAE.
The highly anticipated Blockchain Life Forum 2024 is set to take place in the vibrant city of Dubai on April 15-16. Welcoming industry professionals and crypto enthusiasts from around the world, this legendary event promises to be an unforgettable experience.
This time the central topic of the forum will be making money on Bull Run, which has already begun. Forum speakers and attendees will share analytics and experience: which coins to buy and sell, which coins are worth investing in now, and which are better not to invest in.
More than 8,000 people from more than 120 countries take part in the grand event.
Learn more and buy a ticket: Use the promo code laraontheblock10
So far Blockchain Life has confirmed the following speakers which include top figures in the global crypto market such as:
Justin Sun (Founder of TRON, Member of the HTX Global Advisory Board)
Sergei Khitrov (Founder of Listing.Help, Jets.Capital and Blockchain Life)
Rachel Conlan (CMO of Binance)
Paolo Ardoino (CEO of Tether, CTO of Bitfinex)
Stephan Lutz (CEO and CFO of BitMEX)
Yat Siu (Co-Founder of Animoca Brands)
Dominic Williams (Founder and Chief Scientist of DFINITY (ICP))
Ben Goertzel (CEO of SingularityNET)
Xinxi Wang (Co-Founder of Litecoin Foundation)
Andrei Grachev (Managing partner of DWF Labs) and over 100 other speakers
For a grand conclusion of the event, VIP ticket holders and forum speakers will have the exclusive opportunity to attend the main crypto party of 2024 – the legendary Blockchain Life AfterParty.
The special guest at the AfterParty is the globally renowned hitmaker, Alan Walker, who will be performing an amazing live concert.
But the excitement doesn’t stop there. On April 13-21, the crypto community can immerse themselves in a fantastic Blockchain Life Week, filled with exciting parties and events organized by various industry companies.
A VIP ticket to Blockchain Life 2024 allows for free access to some of those events in order to achieve a new level of networking experience.
Egyptian based GIZ Deutsche Gesellschaft für Internationale Zusammenarbeit GIZ which works in Egypt on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). to support the Egyptian Government’s Sustainable Development Strategy (SDS) has partnered with SIG, a leading packaging solutions provider and Egyptian based Plastic Bank on a blockchain enabled project for recycling waste.
Egypt generates more than 95 million tons of waste annually and currently only 60% of this waste is collected, with less than 20% of that being properly disposed of or recycled.
The partnership between SIG, GIZ Egypt, and the social enterprise Egyptian Plastic Bank aims to address this pressing issue and achieve positive change.
In a three-year initiative, the partners are on a mission to collect 700 metric tons of beverage cartons, while also aiming to improve the livelihood for around 1,000 local waste collection members via blockchain.
The PlasticBank app, backed by the social enterprise’s proprietary blockchain-secured platform, provides traceability and transparency in waste collection, empowering waste collectors to convert every piece of discarded material into a source of revenue.
Waste collection members will be able to log each collected product via the app to earn incentives deposited directly into their digital wallets and gain access to social benefits, including health, work and life insurance, digital connectivity, grocery vouchers, school supplies, and more. Furthermore, the waste collection members will undergo training and receive personal safety equipment for their well-being at work.
By streamlining and tracking the collection and recycling of waste, including used beverage cartons, this project also takes a broader role for laying the groundwork for an extended producer responsibility (EPR) model in Egypt. It aligns closely with the Egypt Waste Management Regulatory Authority to weave recycling into the legislative framework and underscores the important role of packaging manufacturers in environmental stewardship.
Abdelghany Eladib, President & General Manager India, Middle East and Africa at SIG stated, “Our new partnership goes one step further in accelerating our progress towards a circular economy. Extending social waste collection and recycling programs like this one in Egypt will help to achieve our goals and is a blueprint for future programs. By establishing a recycling system for beverage cartons in the Greater Cairo area and beyond, SIG is focused on reducing the environmental impact und creating a market for recycled paper.”
This project is supported by the German Federal Ministry for Economic Cooperation and Development (BMZ) funding program “develoPPP” and its special initiative “Decent Work for a Just Transition”.
