Bitgrit in UAE to democratize AI ownership with Blockchain

Bitgrit in UAE to democratize AI ownership with Blockchain

Bitgrit, a global AI startup, which in 2024 established a DLT Foundation under the regulatory framework of ADGM is seeking to launch their BGR Network, one of the world’s first Web3 protocols to democratize AI ownership, monetization and innovation.

With over 37,000 AI developers from 62 different countries on their platform, Bitgrit has helped organizations like NASA, SoftBank and the Tokyo Government leverage the power of community to solve some of their biggest problems using AI. The company started in Japan and expanded to the UAE in 2021 after being selected for Hub71, Abu Dhabi’s premier startup acceleration program.

Through the Bitgrit platform, companies can crowdsource custom AI solutions through competitions and license off-the shelf community-developed AI models in a quick and affordable manner. The company’s patented GritBox technology ensures developers can train AI models on private datasets without direct access to the underlying data. The launch of the BGR Network now takes these capabilities to the next level—bringing AI assets fully on-chain.

“We’re building a future where AI innovation benefits everyone—not just a few,” said Kazuya Saginawa, CEO of Bitgrit. “From digitizing ownership rights to enhancing transparency, from turning AI into a tradable asset to fostering global collaboration—the BGR Network is setting a new benchmark for AI and blockchain integration. Ultimately, we envision a future where AI models within the Bitgrit ecosystem autonomously communicate and evolve, paving the way for Artificial Super Intelligence.”

The establishment of the Bitgrit DLT Foundation in ADGM allows the company to leverage Abu Dhabi’s world-class regulatory framework and progressive policies to scale its blockchain-powered AI ecosystem. The foundation’s mission is to create a decentralized AI economy where developers, enterprises, and institutions can securely build, license, and stake AI models on-chain.

Saksham Kukreja, COO of Bitgrit, added, “We’re thrilled to be part of Abu Dhabi’s thriving Web3 ecosystem. Launching our own blockchain network was the natural next step but doing it the right way—under a trusted and well-regulated jurisdiction—was just as important to us. ADGM’s strong regulatory framework and progressive policies made it the perfect place to bring this vision to life. With the launch of the Bitgrit DLT Foundation, we’re taking a huge leap forward in bridging AI and blockchain on a global scale.”

Bitgrit has already forged key strategic partnerships within the ADGM Web3 ecosystem, including a collaboration with Changer.ae, a licensed digital asset custody provider, to ensure the secure management of BGR tokens. The BGR Network is also backed by Avalanche, one of the world’s most advanced blockchains known for high-speed, low-cost transactions, reinforcing the network’s scalability and adoption.

Hamad Sayah Al Mazrouei, CEO of the Registration Authority (RA) of ADGM said, “By establishing its DLT Foundation within ADGM, Bitgrit joins a growing ecosystem that is shaping the future of blockchain and AI innovation. This move underscores the strength of our regulatory framework and reinforces Abu Dhabi’s position as a global hub for blockchain advancement. By fostering an environment where emerging technologies can scale responsibly, ADGM is proud to support pioneers like Bitgrit in unlocking new frontiers in decentralised AI ownership and collaboration.”

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

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

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

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


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

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

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

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

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

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

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


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

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

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

Agile Dynamics to build quantum resistant blockchain for Abu Dhabi government

Agile Dynamics to build quantum resistant blockchain for Abu Dhabi government

Agile Dynamics, a UAE based consulting firm, will work to develop a sovereign quantum resistant blockchain infrastructure with Abu Dhabi Department of Government Enablement in UAE. Agile Dynamics has been selected as the program’s strategic partner.

As per the announcement, the transformative project quantum program is spearheaded by Abu Dhabi’s Government with the threefold aim to redefine the emirate’s digital economy, accelerate its growth, and solidify its position as a global leader in next-generation technology adoption.

Quantum is considered as one of the most promising technologies that can enable ground-breaking advancements in business and society.

As part of the partnership with Agile Dynamics, the consulting firm will provide crucial expertise in blockchain strategy, decentralized trust models, and innovative tokenization frameworks. The collaboration will concentrate on three pivotal technical objectives, forming the bedrock of Abu Dhabi’s next-generation digital strategy.

Architecting a Sovereign, Quantum-Resistant EVM-Compatible Layer 1 Blockchain to incorporate cutting-edge post-quantum cryptographic primitives, ensuring enduring security and resilience against future computational threats, safeguarding the nation’s digital assets and critical data for decades to come.

Creating an Integrated DeFi Framework that will unlock new financial paradigms, aiming to streamline international trade finance through transparent and instantaneous settlements, and foster innovation in financial services.

Assessing the Feasibility of an Institutional-Grade Foreign Direct Investment (FDI) as-a-Service Tokenization Ecosystem which will explore novel mechanisms for attracting and managing investment, further bolstering Abu Dhabi’s economic dynamism.

In a LinkedIn post, Agile Dynamics noted that the UAE has the potential to dominate the blockchain economy. Their forecast position blockchain as the backbone of a decentralized trust economy driving $456 billion in non-oil GDP by 2031.

In terms of use cases, the UAE will pioneer use cases like tokenized FDI, AI-auditable governance, and stablecoin remittances. With quantum-resistant infrastructure and strategic alliances, Abu Dhabi has the potential to redefine digital trust worldwide.

Paul Lalovich, Managing Partner at Agile Dynamics, emphasized the profound technical significance of the initiative stating “Abu Dhabi is not merely implementing a blockchain strategy; it is architecting a complete, future-proof trust infrastructure stack. Our design will integrate post-quantum cryptographic primitives, embed protocol-level regulatory compliance, and champion cross-chain interoperability standards. This will create a resilient foundation for both domestic applications and a new era of international digital trade, positioning Abu Dhabi’s infrastructure as a blueprint for decentralized trust that can serve as a global benchmark.”

The Agile Dynamics team brings specialized expertise in the domain to the engagement, led by leaders and blockchain experts Paul Lalovich (blockchain business architectures), Ema Vukovic (blockchain business architectures), Yilmaz Yadırgı (tokenization frameworks), Philipp Kishkovarov (AI-blockchain integration), and Nikola Mandic (blockchain ecosystem architect).

They are steered by affiliate expert partners Henrik von Scheel (digital economy design), Srđan Vukmirović (quantum-resistant cryptography), and Darko Capko (blockchain technology architecture).

rootVX tokenization studio accepted at Qatar’s Digital assets Lab

rootVX tokenization studio accepted at Qatar’s Digital assets Lab

rootVX, a tokenization studio with advanced ledger, money, and data storage capabilities, whose solutions operate within regulatory frameworks and feature a programmable payment rail tailored to modern use cases, has been accepted into Qatar’s Digital Assets Lab launched by Qatar Financial Center.

According to RootVX this is a powerful step forward in their mission to reshape financial markets through tokenization. rootVX seeks to unlock global investment opportunities in a secure, compliant and user centric way.

In January 2025, Qatar Financial Center Qatar Financial Centre (QFC) published their growth in 2024, noting that they welcomed 836 new firms to its platform, a 156 percent growth compared to 2023 as well as 29 firms into its Qatar Digital Assets Lab. Since January QFC has also welcomed five other digital assets companies including Stobox, Alloxyz and others.

QFC also signed 24 memoranda of understanding in 2024, including agreements with prestigious financial institutions such as Qatar Islamic Bank (QIB), Masraf Al Rayan, Dukhan Bank, The Hashgraph Association, and the Chartered Institute for Securities and Investment. QFC established other significant partnerships during the year, including a memorandum of understanding with Qatar Media City and a collaboration agreement with Qatar Science and Technology Park (QSTP), aimed at facilitating business setup in the State of Qatar

This week, Qatar Development Bank released the fifth edition of its annual Venture Investment Report 2024, in collaboration with MAGNiTT Research. The publication is part of QDB’s ongoing commitment to supporting Qatar’s investment sector and strengthening its foundations.

The report provides a comprehensive analysis of Qatar’s investment landscape, enhances transparency, and offers access to data on the venture capital industry including the activities of investment funds that foster entrepreneurship and bolster the contribution of the private sector to Qatar’s economic growth.

The report also underscored fintech as the leading sector in Qatar, accounting for 29% of deals in 2024, an increase of 12% from 2023, highlighting the success of initiatives driven by QDB’s Qatar FinTech Hub.

xWeave stablecoin platform raises $3 million as it expands to UAE

xWeave stablecoin platform raises $3 million as it expands to UAE

XWeave, a stablecoin infrastructure startup for cross-border payments will be expanding its operations to the UAE after raising $3 million in seed funding. The round was led by Jungle Ventures through its First Cheque@Jungle initiative, alongside crypto investment firm Lightshift. Follow-on investment came from Menyala, a venture studio founded by Temasek that also incubated the company. Additional investors include White Star Capital, Fabric Ventures, Digital Currency Group (DCG), The Venture Dept., and several angel investors.

As per the announcement, the funding will be used to expand XWeave’s network across non-G10 payment corridors in Asia and the Middle East, including the UAE, Indonesia, Japan, and Hong Kong. The company is also in talks with regional fintechs and global merchant platforms to integrate real-time cross-border settlement into their products.

Founded in 2024 by Milind Sanghavi, a payments veteran with prior roles at Meta, PayPal, Visa, Ezetap, and OCBC, XWeave aims to modernize global money movement by connecting fiat payment rails with blockchain-based stablecoin networks. Since launching operations in December 2024, XWeave has enabled real-time payments between Singapore and the Philippines.


“The US$30T cross-border payments market is overdue for transformation. As stablecoins evolve into mainstream financial infrastructure, XWeave is the connective tissue that enables businesses to move money across borders with the ease of a text and the compliance rigor of regulated flows. While there have been other attempts using specific digital assets, we’re about to see a significant rise in both stablecoins and CBDCs. XWeave’s non-custodial, asset-agnostic orchestration platform is the best way for businesses to access this growing liquidity— leveraging the benefits of blockchain without relying on regulatory arbitrage. Our job is to make it usable and adaptable for the full spectrum of money flows.” said Milind Sanghavi, Founder and CEO of XWeave.

This week, Eric Trump, the son of President Donald Trump, during his participation at Token 2049 demystified the stablecoin behind the deal that was made between UAE sovereign wealth fund MGX and Binance crypto exchange. The $2 billion investment by MGX into Binance was announced earlier this year, yet the stablecoin mentioned for carrying out the deal remained a mystery.

UAE Public Prosecution integrates AI and Blockchain for criminal cases

UAE Public Prosecution integrates AI and Blockchain for criminal cases

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

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

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

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

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

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

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

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

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

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

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

Zand Bank, Capital Investment and Fasset launch real estate tokenization platform

Zand Bank, Capital Investment and Fasset launch real estate tokenization platform

UAE Capital Investment Holding Ltd., and Fasset, tokenization exchange platform, and Zand Bank, have launched ForteXchain, a real estate tokenization blockchain platform, allowing for fractional real estate investment.

The UAE’s real estate sector continues its record-breaking trajectory into 2025, solidifying its status as a global investment hotspot. In January alone, property sales transactions soared to AED 33.9 billion, reflecting an 18% surge compared to the same period in 2024. The Dubai Land Department (DLD) also reported a 19% year-on-year increase in transaction volume, reinforcing the emirate’s appeal among international investors.

ForteXchain eliminates traditional barriers to real estate investing by lowering entry costs, streamlining regulatory processes, and opening access to both novice and seasoned investors. By leveraging blockchain technology, the platform enables fractional investment in real-world properties starting from just $1 drastically reducing the participation threshold and offering unprecedented flexibility to both retail and institutional investors, subject to local regulations.

“Zand is proud to be the first UAE bank to offer institutional-grade custodial solutions, with private keys securely held within the UAE,” said Michael Chan, CEO of Zand. “Our mission is to accelerate the growth of the digital economy by expanding global access to tokenized Real-World Assets (RWA), including the real estate market, with unparalleled security, transparency, and regulatory compliance.”

In its inaugural issuance round, ForteXchain will present a curated portfolio of tokenized real estate assets across multiple countries. Letters of Intent (LOIs) have already been issued for the following jurisdictions, with due diligence and project exploration underway for projects in Spain such as Elysium City, a pioneering €18 billion sustainable development by Elysium City Spain, as well as in the UAE through Centurion Properties Group & Arabia Capital. Centurion Properties Group & Arabia Capital is focusing on Burj Capital, Arabia Residences, and Centurion Business Complex.

Also included is Malaysia with Bin Zayed International, a leading UAE-based investment group. Jazz City (Kulim, Kedah) – an ongoing project – is a flagship mixed-use development spanning 70.34 acres in Kulim, Kedah known as the “Technology City” of northern Malaysia.

The press release noted that additional projects are under review and will be announced in the coming weeks. This initial phase will be followed by a comprehensive roadmap to bring these assets to market.

Following this initial rollout, Phase Two will onboard institutional real estate projects. Phase Three will open the platform to both retail and institutional real estate projects, enabling them to submit and tokenize projects aligned with their respective investment profiles.

ForteXchain leverages Fasset’s existing regulatory licenses, which provide secure access to high-growth markets such as the UAE, Indonesia, Malaysia, Bangladesh, Pakistan, and Turkey, while Zand Bank the UAE-based AI-powered bank offering institutional-grade digital asset custody will act as the custody partner, responsible for safeguarding investor assets and funds.

“With global real estate valued at over $300 trillion, tokenization unlocks new opportunities for wealth creation and democratizes access to investment,” said Daniel Ahmed, COO and Co-Founder of Fasset. “Fasset is proud to support ForteXchain with our technology and licensing expertise, enabling secure and compliant access to tokenized real estate.”

ForteXchain operates on Fasset’s digital platform. Users begin by completing identity verification (KYC) to ensure compliance and security. Once verified, users can purchase digital tokens representing shares in specific properties. These tokens can be traded on a regulated marketplace offering liquidity rarely available in traditional real estate markets.

ForteXchain’s initial target markets include the UAE, Indonesia, Malaysia, and select European countries. Future expansion plans include Bahrain, Bangladesh, Pakistan, Turkey, and South America. Real estate tokenization will eventually migrate to Own, a blockchain developed by Fasset specifically for Real-World Asset (RWA) transactions, following its mainnet launch in late 2025.

Recently, UAE regulated, Tokinvest, a marketplace for real-world asset (RWA) investing, and Zand Bank, partnered to transform the way investors access high-value assets through tokenization.

UAE MBS invests $8 billion for Maldives Financial center

UAE MBS invests $8 billion for Maldives Financial center

The Maldives Government and UAE based MBS Global Investments, the investment arm of the Private Office of Sheikh Nayef Bin Eid Al Thani, have agreed to build a financial freezone in Maldives with an investment of $8.8bn. Dubbed the Maldives International Financial Centre (MIFC), the center will be designed for and created to attract global financial institutions, fintech pioneers, and global digital Nomads with support for digital assets.

As per the press release, The MIFC free zone will offer no corporate tax, tax-free inheritance, ownership as per the constitution of the Maldives, and privacy. Combined with no residency requirements, it’s set to attract digital nomads, entrepreneurs, and wealth creators seeking freedom without borders. Residents will benefit from multi-currency banking and access to offshore private banking. Future-ready regulations will support digital assets, and green finance – making MIFC not just a financial hub, but a destination for those investing in the legacy of future generations.

Due to be completed by 2030, it will be easily accessible from any part of the world and the aim is to notably increase the country’s GDP within four years with projected revenue to be well over US $1bn by the fifth year.

The centrepiece of MIFC is a state-of-the-art conference centre with capacity for 3,500 people. The multi-purpose convention venue will host leading global conferences, cultural events and innovation-driven hackathons establishing Male as leading assembly hub, driving all year round engagement in the Maldives and further supporting the wider, already established hospitality industry

The plan includes three iconic residential and office towers designed for international HQs and regional offices, high-end, sea front branded residences, world-renowned hotel brands, vibrant and one-of-a-kind retail experience, Oceanographic Museum, Mosque, and leading education facilities including an International School.

President Dr Mohamed Muizzu said, “With the MIFC, we are shaping the Maldives of tomorrow, a beacon of innovation and national pride that will thrive in harmony with nature. The financial centre will be a symbol of economic resilience and will set a new global benchmark that will massively benefit the people of the Maldives for generations to come.”

Minister of Finance for the Maldives said, “This is a momentous project. It offers a great opportunity to diversify our economy beyond tourism in line with our ambitions and will attract the best businesses and visionary entrepreneurs in the world.”

Nadeem Hussain, CEO of MBS Global Investments said, “The financial centre will set a new global benchmark, advancing financial innovation by at least two decades. It is the next evolution of what has been happening in other financial centres around the globe.”

This dynamic mixed-use development has been designed by master planner Architect Gianni Ranaulo, every structure from the overarching master plan to the individual buildings are inspired by the local fauna and marine eco-system. Ranaulo incorporates environmentally conscious practices in all projects. The total size of the development is 780,000 sqm where more than 6,500 people can reside, and an expected daily footfall of 35,000.

While the press release itself does not mention blockchain or crypto hub, a report from the Financial Times, noted that the agreement, which was signed on May 4, was done in the hopes of moving the Maldives away from reliance on tourism and fisheries by attracting foreign direct investment into blockchain and Web3 technologies.

MBS has previously investment in Blockchain entities

MBS Global Investments, through one of its portfolio entities UAE Varys Capital had previously invested in Movement Labs, an L2 Blockchain platform.

At the time, MBS Global Investments had noted on LinkedIn, “MBS Global Investments proudly congratulates our partner, Varys Capital on their successful pre-seed investment in Movement Labs (MOVE), a pioneering project that has just achieved a major milestone. The recent Token Generation Event (TGE) for MOVE was a resounding success, with the token reaching an extraordinary fully diluted valuation surpassing $6 billion. This remarkable achievement has already captured the attention of the global crypto community, with MOVE being listed on all major exchanges, including Binance.”

MBS also noted that they would continue to support this venture. They stated, “We are excited to continue supporting this transformative venture and looks forward to the significant impact MOVE will have on the future of decentralized finance and blockchain technology.”

Galaxy leads $12 million investment in UAE based Fuze

Galaxy leads $12 million investment in UAE based Fuze

Galaxy, a leader in digital assets and data center infrastructure, and e& capital, the venture capital and investment arm of globaly technology group e& lead $12.2 million Series A funding round in Fuze, the Middle East and Turkey’s fastest growing digital assets infrastructure firm.

As per the press release, the Series A investment will fuel Fuze’s regional and international expansion, accelerate product innovation and compliance, and support top-tier hiring. Fuze provides Digital Assets-as-a-Service infrastructure enabling financial institutions and businesses across MENA and Turkey to offer regulated digital assets to their clients, as well as an Over-The-Counter (OTC) trading desk. In addition, Fuze has now launched a full suite of stablecoin infrastructure products and recently announced its expansion, through FuzePay, into payments.

Mo Ali Yusuf, CEO and Co-Founder at Fuze, stated, “Strategically, Galaxy’s comprehensive digital asset capabilities and e&’s unparalleled network will fast-track our mission to enable any bank, fintech or traditional business to seamlessly integrate digital assets and accelerate regional digital asset adoption. We are seeing a huge surge in demand and we believe that in the next 12 months, every financial institution and business will leverage some type of crypto or stablecoin capability.”

Leon Marshall, CEO of Galaxy Europe, added, “We are thrilled to partner with Fuze and lead this Series A round. The Middle East is poised to become a major hub for innovation, with the UAE demonstrating a willingness to develop comprehensive regulatory frameworks for digital assets and Fuze rapidly advancing its digital assets infrastructure.”

Fuze has been championed from the beginning by Further Ventures, an ADQ-backed venture builder and investment firm. In 2023 the company raised a seed round of $14mn, the largest Seed investment in a digital assets startup in the history of the Middle East and North Africa region (MENA). The investment was led by Abu Dhabi-based Further Ventures, along with participation by US-based Liberty City Ventures. 

Mohamed Hamdy, Managing Partner at Further Ventures said, “This fundraising round marks an important milestone for Fuze, a company that Further Ventures backed since inception. We’re proud to welcome leading global investors – including Galaxy, e& Capital, and others – to join us on this journey. We believe Fuze is poised to become a dominant force in enabling digital asset businesses around the world.”

Harrison Lung, Group Chief Strategy Officer e&, said “With our investment in Fuze, we’re excited to align with a team that’s setting the benchmark for what a future-ready, regulated digital asset ecosystem can look like. There’s a natural synergy between Fuze and our fintech portfolio, from e& money to Wio and Careem Pay. And this investment is about backing bold companies who understand the long game, building digital assets infrastructure to supercharge the next wave of financial services innovation.”

In the last year, Fuze has processed over $2 billion in total digital assets volume through their Digital-Assets-as-a-Service platform, stablecoin infrastructure, and OTC.

RAK Digital Oasis and Blockchain SuiHub to scale startups in MENA

RAK Digital Oasis and Blockchain SuiHub to scale startups in MENA

UAE RAK Digital Assets Oasis (RAK DAO), the Free Zone dedicated to digital assets and blockchain enterprises, and SuiHub MENA, the regional innovation hub supporting the growth and scaling of startups within the Sui blockchain ecosystem have partnered to scale MENA startups through an accelerator program.

The program as per the announcement will provide entities with the resources and support to tap into the region’s regulatory and licensing infrastructure.

Sui selected Dubai in 2024 as its inaugural location for the first SuiHub, while RAK DAO is already home to over 500 Web3 companies spanning GameFi, NFTs, non-custodial wallets, proprietary trading firms, and Decentralized Autonomous Organizations (DAOs).

Kristof Lukovich, CEO of SuiHub MENA, stated, “SuiHub MENA’s partnership with RAK DAO presents a unique opportunity for startups to work in a supportive environment where they can focus on their growth. We believe that by building strong, long-term strategic collaborations with Govt. entities, regulatory bodies, and licensing authorities, we are positively contributing to helping the ecosystem further develop here in the UAE. We are proud of our partners and are delighted to formalize our collaboration with RAK DAO.”

Paul Dawalibi, CEO of RAK DAO, commented: “The partnership with SuiHub MENA reinforces our commitment to enabling high-growth blockchain ventures with the tools and infrastructure they need to thrive. At RAK DAO, we’re focused on building an ecosystem that combines regulatory clarity with global connectivity, and collaborations like this are central to that vision.”

In February 2025, SuiHub Dubai, received over 630 applications for its Global Accelerator Program, the largest intakes ever recorded for an ecosystem-specific accelerator program. SuiHub’s accelerator program attracted interest from over 13,000 individuals from 152 countries and 2,452 cities.

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