UAE Haifin offers blockchain trade finance solution in Bahrain with BENEFIT

UAE Haifin offers blockchain trade finance solution in Bahrain with BENEFIT

Bahrain based BENEFIT, aFintech and electronic financial transactions service, has partnered with haifin, an e& enterprise company (part of e&) formerly known as UAE Trade Connect offering Blockchain enabled trade financing platform,to revolutionize Bahrain’s banking sector by fostering innovation, and enhancing financial resilience across the industry.

With a proven track record in de-risking trade finance lending, haifin—live in UAE since 2021—has leveraged cutting-edge technologies such as blockchain and advanced analytics to prevent fraud in real-time, saving over $150 million for its consortium members.

As per the press release, the partnership is set to enhance the ability of Bahrain’s banking industry to mitigate risks and prevent fraud, particularly in trade finance. By improving risk management, the collaboration is expected to boost banks’ lending confidence, increase revenues, and improve access to liquidity for SMEs and corporate borrowers.

Abdulwahed AlJanahi, Chief Executive of BENEFIT, commented that this partnership marks a significant step in strengthening Bahrain’s financial ecosystem through advanced technology. He added, “By equipping banks with cutting-edge tools to proactively combat fraud and streamline trade finance, we are empowering the sector to operate with unparalleled efficiency and confidence. By uniting our expertise, we are reinforcing trust, security, and innovation at the heart of the industry’s future, setting the stage for a more resilient and digitally advanced banking landscape in Bahrain.”

Zul Javaid, Chief Executive of haifin, highlighted the importance of this partnership added, “After our success in the UAE and our ambition to address similar challenges across the MEA region this collaboration with BENEFIT marks a major milestone. Together, we aim to deliver advanced technology solutions that enhance risk management which ultimately drives growth for banks.”

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

Prior to the recent agreement with Bahrain’s BENEFIT, Zul Javaid expressed his interest in expanding Haifan offering to countries across the GCC and MENA regions, including KSA hiring Wissam Massud to lead their international expansion in 2023.

UAE based Brevan Howard Digital deploys $20 million of assets on Kinto DeFi L2 platform

UAE based Brevan Howard Digital deploys $20 million of assets on Kinto DeFi L2 platform

The UAE branch of Brevan Howard Digital has deployed $20M in assets on Kinto, a Blockchain DeFi financial portal which rewards active participants such as traditional financial entities who deposit assets on-chain with token emissions.

As per the press release, Kinto enables financial institutions to deploy capital on-chain while meeting their strict legal and compliance requirements. Kinto is the only L2 that has native KYC and AML at the blockchain level, default wallet insurance and extensive security features.

Kinto’s mining program rewards active participants who deposit assets on-chain with token emissions. The mining program will be active for 10 years, with rewards decreasing over time. Brevan Howard Digital, through its Abu Dhabi branch, became one of the first major traditional financial firms to leverage its digital assets to participate in Kinto’s mining program.

Kinto’s CEO and co-founder, Ramon Recuero, believes that digital asset management platforms like Brevan Howard Digital are ahead of the curve and that participation in on-chain in programs like Kinto’s mining program will steadily increase. He expects similar institutions to become more prominent within the ecosystem over the coming months: “Institutions have been waiting for two things: regulatory clarity and compliance features. Now, through Kinto, financial institutions don’t need to wait any longer.”

Saudi Ministry of IT partners with Blockchain accelerator Adaverse

Saudi Ministry of IT partners with Blockchain accelerator Adaverse

Adaverse, Venture Fund and Cardano Blockchain accelerator has partnered The Saudi Arabian Ministry of Communications and Information Technology.

As per the press release, the partnership aims to accelerate the development of Web 3 technologies and promote innovation in blockchains in the Kingdom of Saudi Arabia. This collaboration will leverage the Ministry’s leadership in national digital transformation and Adaverse’s expertise in blockchain investments and technology infrastructure. It aims to equip local talent with access to the latest global advancements in this field.

Vincent Li, CEO of Adaverse Saudi Arabia, stated, “We take pride in contributing to Saudi Arabia’s digital transformation by sharing our global expertise and resources. This partnership will help build a strong Web3 community in the Kingdom and drive innovation in blockchain technology.”

The partnership will include training and awareness programs to help local talent gain expertise in Web3 and Blockchain. It will also foster innovation with community meetups and hackathons and provide access to cutting edge technologies to support KSA’s tech ecosystem.

Additionally Adaverse will work with the Minsitry to establish startup accelerators in Web3 sector.

This announcement coincides with the new Web3 alliance that has been formed in KSA . Animoca Brands, SandBox, and Outlier Ventures announced that they have united key Blockchain and digital innovation players towards to goal of driving adoption and Web3 technologies aligning with Saudi Arabia’s Vision 2030.

UAE’s AD Ports to operate Jordanian Blockchain enabled customs center

UAE’s AD Ports to operate Jordanian Blockchain enabled customs center

UAE AD Ports Group, an enabler of integrated trade, transport and logistics solutions, has been contracted to manage and operate the cutting-edge IOT and Blockchain enabled Al Madouneh Customs Centre in Amman, Jordan.

The 1.3 million m2 state-of-the-art facility was inaugurated last June to elevate Jordan’s trade competitiveness through AI-driven customs solutions, blockchain-enabled transparency, and Internet of Things (IoT)-powered logistics optimisation. The centre will streamline cross-border trade, reduce clearance times, and enhance supply chain efficiency, aligning with global standards for trade facilitation.

By integrating advanced technologies and sustainable practices, AD Ports Group collaboration with Jordan Customs Department aims to position the Hashemite Kingdom of Jordan as a regional leader in next-generation logistics and customs operations.

The Al Madouneh facility, with features such as automated inspection ramps, smart warehouses, and predictive analytics, will empower businesses with faster cargo processing, robust security protocols, and a seamless digital trade experience with AD Ports Group deploying its expertise in smart logistics and trade digitalization to maximize operational efficiency and economic returns while running the facility.

The Group’s partnership with Jordan Customs is projected to deliver significant benefits through the Al Madouneh Centre, including a 20% reduction in clearance times, enhanced cargo security, and a scalable infrastructure capable of handling around 1,000 trucks in the import and transit yard, with plans for future expansion.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “This collaboration highlights AD Ports Group’s commitment to advancing regional trade ecosystems, in line with our wise leadership’s vision. It gives the Group the opportunity to support Jordan’s vision of becoming a regional logistics hub contributing to economic growth and jobs creation for the people of Jordan. We look forward to realising this important trade enhancement project with our partner Jordan Customs Department. By leveraging cutting-edge technologies and fostering economic growth, the Al Madouneh Customs Centre is poised to unlock new opportunities for businesses and reinforce the Middle East’s position in the global supply chain landscape.”

Customs Major General Ahmed Al-Akalik, Director General of the Jordan Customs Department, said: “Our collaboration with AD Ports Group is based on the referral decision issued by the Government Tenders Department, aimed at enhancing customs procedures at the centre and streamlining processes to save time and effort, while improving the investment environment. This will be achieved through the development operations that AD Ports Group will undertake to support customs operations at the centre, in accordance with the stated tender.”

Al-Akaleek reaffirmed Jordan Customs Department’s commitment to working closely with AD Ports Group to serve traders and investors, in addition to enhancing operations at the centre, in line with the Kingdom’s economic modernisation vision, and overcome all obstacles that may hinder development and modernisation efforts in service of the national economy.

KSA based Oumla signs agreement with Saudi Bank SAB

KSA based Oumla signs agreement with Saudi Bank SAB

KSA based Oumla, a Layer 1 Blockchain platform for easy blockchain integration and digital asset storage, has signed an innovation agreement with Saudi Awwal Bank (SAB Bank), a Riyadh-based Saudi joint stock company in which global banking group HSBC owns a minority stake.

The collaboration agreement will seek to explore Blockchain technology and its application to advance financial innovation. As per the announcement on LinkedIn, the partnership reflects both parties’ commitment to driving digital transformation in the banking sector and strengthening Saudi Arabia’s position as a leading hub for modern financial services.

This comes days after the Layer 1 blockchain company signed announced its partnership with Chainlink Blockchain, best known for solutions in onchain finance and cross-chain interoperability.

Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as top DeFi protocols including Aave, GMX, and Lido, use Chainlink to power next-generation applications for banking, asset management, and other major sectors.

In an X post Oumla stated, “We are pleased to announce that Oumla is partnering with chainlink and adopting the Chainlink standard on OumlaChain, a compliance-focused, permissioned blockchain in Saudi Arabia.”

Saudi based Oumla Blockchain has partnered with Chainlink

Saudi based Oumla Blockchain has partnered with Chainlink

Oumla, a Layer 1 blockchain platform that allows applications to be built on any blockchain with ease, as well as offers a secure vault infrastructure for storing digital assets has announced its partnership with Chainlink.

Chainlink Labs is one of the primary contributing developers of Chainlink, the standard for onchain finance, verifiable data, and cross-chain interoperability. Chainlink is unifying liquidity across global markets and has enabled over $17 trillion in transaction value across the blockchain economy. Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as top DeFi protocols including Aave, GMX, and Lido, use Chainlink to power next-generation applications for banking, asset management, and other major sectors.

In an X post Oumla stated, “We are pleased to announce that Oumla is partnering with chainlink and adopting the Chainlink standard on OumlaChain, a compliance-focused, permissioned blockchain in Saudi Arabia.”

The post adds, ” Bringing Chainlink SmartData to OumlaChain empowers enterprises, financial institutions, and government entities to move onchain, supporting the Kingdom’s blockchain innovation and digital transformation.”

Oumla in KSA, offers an intuitive infrastructure that caters to both businesses and government entities. The platform offers a suite of APIs and SDKs, enabling developers to build applications on top of any blockchain, including Ethereum Virtual Machine (EVM)-based networks, without the need to master complex, low-level blockchain-specific protocols.

Oumla already partnered with Avalanche Blockchain

Prior to this announcement, Oumla partnered with Avalanche Blockchain to create Saudi Arabia’s first Layer on Blockchain fully hosted in the country.

At the time Oumla stated, “This collaboration will support startups and SMEs, driving technological innovation across Saudi Arabia and the MENA region. It will bring a secure, locally-hosted blockchain platform closer to home, we’re paving the way for growth and innovation aligned with Saudi Vision 2030. This partnership is part of our larger mission to develop the products the region needs to thrive in Web3 and blockchain technology, preparing the MENA market for a seamless transition into the digital future.
We’re excited to bring this vision to life and drive the next wave of technological transformation!”

Adaverce, the venture capital fund and Web3 accelerator with a base in KSA, invested in Oumla. In 2024 Adaverse published its first Web3 ecosystem report for the Kingdom of Saudi Arabia showcasing growth, opportunities, as well as challenges. Since its inception, Adaverse has funded 54+ startups across Asia, the Middle East and Africa.

In addition Outlier Ventures has also chosen Oumla for its Spark accelerator program.

Chainlink has a presence in the UAE

In December 2024, Chainlink Labs, expanded its presence in the Middle East and North Africa (MENA) region, and set up an office and an entity in Abu Dhabi under the Registration Authority of ADGM.

At the same time, UAE Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, added a fifth council member of its Digital Asset Lab – Chainlink.

Decentralized privacy network Nillion and stc Bahrain partner to ensure security of data in MENA

Decentralized privacy network Nillion and stc Bahrain partner to ensure security of data in MENA

Decentralized privacy-focused network Nillion has partnered with Bahraini telecom operator stc Bahrain.

As per the announcement, the collaboration marks the deep integration of Nillion’s blind computing privacy technology in real-world Web2 scenarios, aiming to drive the development of privacy solutions in the Middle East region.

In the first phase of the collaboration, stc Bahrain will deploy nodes on Nillion’s blind computing network, PETnet. As a decentralized privacy platform, PETnet aims to ensure the security of data storage and the privacy of data processing using advanced privacy-enhancing technologies such as multi-party computation. As the first telecom partner to run nodes on the Nillion network, stc Bahrain will not only bring stronger decentralization and security to PETnet.

Meanwhile, Nillion will join the stc Bahrain Web3 Launchpad program as a Pearling Path partner. stc Bahrain will leverage Nillion’s blind computing network to develop scalable use cases. By combining Nillion’s advanced secure computing solutions with stc Bahrain’s robust telecom infrastructure and Bahrain’s data embassy legal framework, Nillion aims to set new standards for high-value data management and protection for global users, not only in the Web3 scenario but also in real-world Web2 applications.

Nillion was founded by former Uber founding engineer Conrad Whelan, dedicated to enabling the secure storage, transmission, and processing of high-value sensitive data in an end-to-end encrypted state. Using its Orchestration Layer, Nadia language compiler, and dual-layer network architecture, Nillion empowers developers to easily build privacy applications without the need to understand privacy-enhancing technologies (PETs), while also ensuring decentralization, thus empowering the development of the privacy application ecosystem and providing strong support for data application ecosystems, AI, data markets, privacy , medical analytics, and other application scenarios.

stc Bahrain partners with Nirvana Labs

Earlier this year, the Bahraini telco operator, partnered with Nirvana Labs,providers of bare metal cloud infrastructure for web3 companies to foster the growth and development of blockchain technologies across the Gulf region. The partnership is now live, with Nirvana offering web3 hosting for node operations in stc Bahrain’s data centre.

It also partnered with Allora Network, an AI decentralized network through its Web3 Launchpad Program under the Pearling Path initiative.

Hub71 admits Five digital asset startups to Cohort 16

Hub71 admits Five digital asset startups to Cohort 16

Hub71, Abu Dhabi’s global technology ecosystem, has admitted, five digital asset startups out of a total of 27 startups into its latest Cohort 16. The startups span across its three programs: Access, Hub71+ ClimateTech, and Hub71+ Digital Assets. Invoice Mate, Rilla Network, Sustainable Bitcoin Protocol, and 1Money are part of the Digital assets program.

Since the onset of Hub71 the venture ecosystem has support 357 startups, collectively securing over $145 million with an average of $4.9 million per company.

Over 1,300 companies/startups submitted applications. Under the Hub71 Digital assets program was InvoiceMate is a Blockchain & AI powered platform bridging conventional businesses with crypto liquidity, Redbrick is a cloud-based game and metaverse engine using blockchain and AI to streamline creation and distribution for all skill levels, Rilla Network is a decentralized infrastructure that unlocks the hidden potential of live streaming ecosystems while delivering exponential savings, Sustainable Bitcoin Protocol enables institutional investors to embed verifiable clean energy into their Bitcoin holdings—transforming Bitcoin’s distributed energy demand into a catalyst for the global energy transition, and 1Money which is developing the world’s first payment network exclusively designed for stablecoins, and specifically engineered to be the fastest, cheapest, and most compliant.

Among the new participants in Hub71’s Access programme is Vivan Therapeutics, a UK-based precision medicine company developing AI-driven cancer treatments using fruit fly models. The firm has raised US$10 million (AED 36 million) in funding. While in the Climate Tech program is Theion, a German company focused on developing sustainable sulphur-based batteries that can store up to three times more energy than conventional batteries.

Ahmad Ali Alwan, CEO of Hub71, said, “The selection process is highly competitive, reflecting the exceptional calibre of startups in our ecosystem. These companies are advancing innovation across key tech sectors while strengthening Abu Dhabi’s position as a global tech hub.”

The selected companies will benefit from access to Hub71’s network of mentors, partners, and investors, providing them with market opportunities, talent, and capital to support their commercial growth.


mCloudTech launches Blockchain, AI sustainability solution in Saudi Arabia

mCloudTech launches Blockchain, AI sustainability solution in Saudi Arabia

United States based, mCloudTech.ai Corp. (“mCloudTech.ai”), a provider of Web3 AI-enabled cloud applications optimizing the performance, reliability, and sustainability of energy-intensive assets has launched its Web3 Blockchain, AI, asset performance management platform on Google Cloud in 2025 in Saudi Arabia to track carbon emissions.

mCloudTech.ai, a MISA registered company in the Kingdom of Saudi Arabia is a key partner to deliver a decentralized experience that will empower the Kingdom of Saudi Arabia to lead the way in effectively reducing carbon emissions by leveraging cloud solutions. mCloud plays a critical role in this vision, delivering exclusive digital sustainability applications built on Google Cloud.

This announcement marks a turning point in decarbonization efforts, positioning Saudi Arabia, mCloudTech.ai, and Google Cloud as leaders at the intersection of technology and sustainability.

AssetCare will integrate Web3 with blockchain and AI capabilities from Google Cloud to deliver a unified platform for carbon emissions tracking and digital measurement, reporting, and verification (DMRV). The solution enables full lifecycle management for carbon credits, from issuance to trading to retirement, ensuring transparency and accountability in decarbonization efforts. These innovations position AssetCare as the platform of choice for organizations on the path to net zero through asset performance optimization.

AssetCare’s Web3 capabilities will debut in Saudi Arabia, leveraging the Kingdom’s robust hyperscale infrastructure, data sovereign policies, and advanced AI ecosystem enabled by Google Cloud. Saudi Arabia, one of the largest global energy markets, provides an ideal launchpad for decarbonization and carbon trading activities. mCloudTech.ai and Google Cloud plan to expand globally, targeting energy-intensive economies with state-owned or national energy companies.

Russ McMeekin, mCloudTech.ai Co-Founder, President, and CEO said, “With mCloudTech.ai’s inception and our partnership with Google Cloud in the Kingdom of Saudi Arabia, AssetCare’s Web3 capabilities will be an excellent showcase of the Kingdom’s digital leadership. Saudi Arabia’s hyperscale compute, data sovereignty policies, and advanced AI capabilities enabled by Google Cloud underscore the Kingdom’s pivotal role in driving digital sustainability around the world. We are honored to contribute to Saudi Arabia’s success alongside organizations such as Aramco and their sustainability ambitions with the unparalleled capabilities of Google Cloud’s AI, LLM, and blockchain capabilities.”

Bader Almadi, Google Cloud Country Manager for Saudi Arabia added, “Today, mCloud provides valuable services that help global customers across industries improve their sustainability and streamline their operations. Now, these new capabilities in mCloud’s AssetCare platform, built on Google Cloud, can help customers even further track carbon emissions, streamline reporting, and manage carbon credits.”

In January 2025, mCloudTech signed a Memorandum of Understanding (“MOU”) with Aramco. The MOU sees mCloud joining forces with Aramco to explore the co-development of a digital technology hub for delivering ESG solutions in the Kingdom of Saudi Arabia.

Medical Value Chain training carries out sessions for new track and trace mandate in Bahrain

Medical Value Chain training carries out sessions for new track and trace mandate in Bahrain

Bahrain based Medical Value Chain (MVC) conducted a series of comprehensive training sessions for Bahrain government officials, manufacturers, importers, distributors and dispensers aimed at enhancing the understanding and utilization of the upgraded NHRA-MVC Traceability Hub, ensuring compliance with Bahrain’s Legislative Decree No. 41 of 2017, which mandates a Track and Trace System for pharmaceuticals.

MVC also announced the pre-release and upcoming beta testing phase of SmartPass Mobile, a groundbreaking new mobile application designed to verify the authenticity of medicines. This app is set to revolutionize patient safety by providing an accessible tool for consumers, pharmacists, and healthcare providers to check the legitimacy of pharmaceutical products at the point of sale or use.

Shaikha Dheya Bint Ebrahim Al Khalifa, MVC Executive Chairperson, stated, “Our commitment to enhancing the safety and efficiency of Bahrain’s pharmaceutical supply chain is reflected in these training sessions. The introduction of our new authentication app is a testament to our ongoing innovation in healthcare technology.”

The new application offers real-time Authentication where users can scan medicine packaging to verify its authenticity against the NHRA-MVC Traceability Hub database, a user-friendly Interface for ease of use, ensuring that verification can be conducted swiftly and accurately and security enhancements.