UAE Phoenix Group launches 20 Megawatt digital asset mining facility in Canada

UAE Phoenix Group launches 20 Megawatt digital asset mining facility in Canada

Phoenix Group PLC (PHX), a leading multi-billion-dollar blockchain and crypto mining conglomerate listed on the Abu Dhabi Securities Exchange (ADX), has launched 20-megawatt mining facility in St Leon, Canada to grow its data center capacity and digital asset mining. The new site will add 700PH and provide the lowest electricity price (0.039 USD) in the Phoenix Group fleet with more than 97% uptime. This significant expansion plays an important role in enhancing top and bottom-line revenue within Phoenix Group’s core businesses including data center capacity and digital asset mining.

As per the press release, the site adds to the group’s overall gigawatt-scale operational and development capacity. It is part of a long-term strategy to expand the Group’s core business, with the goal of enhancing hash rate productivity while lowering costs.

Seyed Mohammad Alizadehfard (Bijan), Co-Founder and Group CEO of Phoenix Group, commented, “Expanding and strengthening our core business presence in Canada and North America, where we see a bright, growth-oriented future is a natural extension of our ambition to be at the forefront of growth and innovation in crypto mining and associated Web 3 and blockchain development. The new capacity will benefit both our top and bottom line revenue and we anticipate further investment in business expansion over the coming months.

Strategically located to utilize local energy resources effectively, the St Leon mining site optimizes operational efficiency and sustainability and maintains Phoenix Group’s position as one of the top 4 bitcoin mining operations globally. The Group’s adaptable infrastructure approach allows Phoenix to swiftly adapt to changes in the computing landscape, exploring opportunities in both blockchain and alternative high-value computing forms.

Phoenix Group boasts a 765MW mining operation, and fuel growth through strategic partnerships and innovation.

In May 2024, Phoenix Group announced financial results for the first quarter of 2024 with a Q1 net income of $66.2 million, a growth of 166% year-on-year. As per the press release, total assets surged by 237% year-over-year, soaring to $879.3 million from $261 million. ⁠The quarter-over-quarter growth in total assets stands at 5%, while revenue experienced an 18% quarter-on-quarter increase, reaching $68.9 million.

UAE Al Maryah Bank launched first national blockchain digital wallet

UAE Al Maryah Bank launched first national blockchain digital wallet

UAE based Al Maryah Community Bank (Mbank) has officially launched Mbank Wallet, what it calls the first UAE national blockchain based digital wallet using decentralized blockchain technology, enhanced with QR technology, and linked to Jaywan.

As per the announcement, this addition to Al Maryah Community Bank’s financial technology suite illustrates the bank’s continued promise in building the most advanced mobile payment experience for its customers.

Through Mbank Wallet, end-users will be able to perform all daily financial transactions including but not limited to sending, receiving, requesting, and paying money. Sending money to other bank accounts or Mbank accounts is as easy as tapping on a few buttons. Users can also choose to send money through the Mbank Wallet app to their loved ones located anywhere in the world. Moreover, users can receive money to their digital wallets from their family members or friends via Mbank or other UAE bank account transfers.

For in-store purchases, all customers need to do is scan the QR code at their favorite stores and enjoy secure, easy, and fast payment transactions. With Al Maryah Community Bank’s ever-growing strategic tie-ups with well-established merchants across the Nation, it offers its customers a wide range of stores and vendors that happily accept digital payments through Mbank Wallet.

What distinguishes Mbank Wallet from other digital wallets is that users are not required to go through the hassle of creating a bank account. They can simply register with their Emirates ID and issue money transfers to and from other UAE banks via IBAN number only. Downloading the app, getting an IBAN number, and transferring money can all happen in a matter of minutes! This opens the potential for greater financial inclusion and enables any UAE National or Resident to access financial products that meaningfully impact how they live and work. To add money to Mbank Wallet, users can do so through cash deposits via Mbank ATMS or any of our many foreign money exchange and remittance partners’ branches across the UAE.

Al Maryah Community Bank continuously strives to create more ways for individuals to participate in the global economy by enabling quick and simple access to the financial system to more customers around the world who may use Mbank Wallet as their primary financial instrument. Adding a cross-border layer to Mbank Wallet, customers can easily utilize the app to send funds to countries across the globe where digital wallets are the go-to payment method.

Commenting on the launch of Mbank Wallet, Mohammed Wassim Khayata, CEO of Mbank, stated, “Al Maryah Community Bank is altering the way consumers pay for their everyday purchases and transforming payments in a way never seen before. We are bringing a new national level of everyday convenience to mobile devices with a very safe and secure environment for financial transactions that eliminates the circulation of cash and minimizes financial risk and fraud. As a result, we have launched Mbank Wallet, which has been successfully approved and licensed by the Central Bank of the UAE, the best-in-class national digital wallet that includes all advanced features for daily transactions, international remittance services, and an eCommerce marketplace”.

He added, “Through the combined power of Mbank’s strategic tie-ups and Mbank Wallet’s solid payment infrastructure, this new national digital wallet has the potential to help develop a new global era for inclusive and accessible global payments. It serves as the catalyst for Mbank’s new focus – transforming how consumers buy products in-store and online. Mbank Wallet’s launch is the first step in the many updates we will be releasing in the near future. As part of our ongoing commitment to open ecosystems, we will continue to expand on the capabilities of Mbank Wallet by working closely with our trusted partners and developers across all the UAE to become the national leaders in mobile payments”.

Bahrain based iBLOCKCHAIN and Accelera strike an alliance

Bahrain based iBLOCKCHAIN and Accelera strike an alliance

Bahraini consultancy firms, Accelera and iBLOCKCHAIN strike a strategic alliance aimed at leveraging the significant economic growth opportunities across the Gulf region, specifically in Saudi Arabia (KSA), the United Arab Emirates (UAE), and Qatar.

Through a synergy of visionaries, this collaboration brings together iBLOCKCHAIN’s undisputed leadership in ‘Intelligent Transformation’ and cutting-edge expertise in Blockchain, Ai, cybersecurity, and Web3 technologies with Accelera’s pioneering Consulting 2.0 approach, creating a force ready to address the digital transformation and business growth opportunities of the rapidly evolving markets in the region.

Commenting on the collaboration, Wassim Jarkas, founder and CEO of iBLOCKCHAIN, said, “This alliance represents a significant step in driving transformation within the Gulf. By combining iBlockchain’s technical prowess with Accelera’s understanding of modern management strategy, we can tailor unique and comprehensive solutions that cater to the region’s evolving needs. We’re not just helping businesses adapt to the post-digital era – we’re empowering them to lead it.”

Also commenting on the collaboration, Mohamed Alsayed, CEO of Accelera, added, “Our collaboration with iBlockchain isn’t just a joining of capabilities. It’s a fusion of visions. Together, we’re crafting a future where innovation isn’t just encouraged, but rather, it’s inevitable.”

As the Gulf Cooperation Council GCC countries, particularly Saudi Arabia, the UAE, and Qatar, continue to push forward with ambitious Vision2030 national development plans, the two companies will focus on sectors including hospitality, construction, and healthcare, where digital transformation initiatives are driving demand for advanced technology solutions and modern consulting.

This partnership marks a new chapter for both companies as they look to unlock new growth avenues and continue supporting the region’s transformation into a global hub for business, technology. It also cements Bahrain’s status as the beating heart of innovation in the region, and a centre of excellence for modern management knowledge. And so the message is clear: The future of business and technology in the region starts here, in Bahrain.

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Oman Data Park and INTRO technology to establish Kemet Data Center in Suez Canal Egypt

Oman Data Park and INTRO technology to establish Kemet Data Center in Suez Canal Egypt

The Oman Data Park, datacentre and cloud service provider, and INTRO Technology, the technology arm of INTRO Holding and the parent company of Advansys and Forte Cloud, a leader in technological solutions and digital transformation, have signed an MOU to establish Kemet Data Center in the Suez Canal Economic Zone which will provide cloud solutions, Internet of Things (IoT) and digital transformation particularly in Africa and Middle East.

Kemet Data Center, which will span 80,000 square meters, is set to be developed in two phases. Strategically located in the Suez Canal Economic Zone, it will serve as a key facility for companies seeking cost-effective cloud solutions, offering scalable infrastructure, faster data processing, and improved latency.

Leveraging Egypt’s advanced infrastructure and its position as a key regional hub, the center will provide a secure and efficient platform for businesses to manage both regional and global operations. Committed to sustainability, Kemet Data center will partially rely on solar energy, reducing its carbon footprint while delivering advanced digital services.

Oman Data Park will provide commercial services, overseeing the center’s design, construction, and management. Advansys, a subsidiary of INTRO Technology, will host the data center’s staff and experts, handling legal procedures, equipment importation, and design through its Center of Excellence. This will expedite the project’s initial phases.

Mamdouh Abbas, Chairman of INTRO Holding, emphasized that the partnership is a crucial step in expanding INTRO Technology’s presence in the Middle East and Africa. He highlighted Kemet Data Center’s role in advancing Egypt’s digital transformation goals as part of its 2030 vision.

Eng. Maqbool Al Wahaibi, CEO of Oman Data Park, expressed excitement about the partnership, stating that it will foster innovation and economic growth across the region, providing critical digital solutions to meet the demands of global enterprises.

In early 2024, Oman Sohar port Free zone, signed a deal with Green Data City to develop a multimillion dollar data computing center which will include data mining. The data mining centers would allow for AI and Blockchain data mining as well as crypto. The Data Computing Center in SOHAR Free zone would be used for hosting, processing, and data mining, solidifying their position as a key player in the digital economy, fostering technological innovation and economic growth. The land lease agreement, signed with encryption mining company Green Data City (FZC) LLC, covers the development of a 45,000-square-metre site that will house 20,000 servers from leading manufacturers.

Previously, Oman signed several partnerships for Blockchain, and Bitcoin datacenters with entities such as Exahertz. At the time Dr. Ali Mohammed Tabook, CEO of Salalah Free Zone, underscored the significance of laying down the foundation stone for the Exahertz Blockchain Data Centre at an investment value of $348 million on an area of 312,000 square metres.

Prior to this announcement, Oman Ministry of Transport, Communications, and IT in partnership with Green Data City (GDC) the next generation data blockchain ecosystem, launched the first licensed sustainable crypto mining datacenter in Oman, and the GCC.  The delegation witnessed the first Bitcoin officially mined in Oman using immersive cooling technology which will reduce electricity consumption.

While the Oman Investment Authority (OIA) took part in a $350mn equity round in Crusoe Energy Systems. The US firm helps oil and gas producers cut flaring by using stranded natural gas to power cryptocurrency mining. Crusoe systems set up operations in Oman as well.

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

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

HODLER INVESTMENTS, a UAE based investment company, headquartered in the Dubai, which includes in its portfolio energy, AI, and digital asset mining startups such as PermianChain, Brox Equity and others; and Abu Dhabi’s EHC Investment which leads multiple businesses with operations and investments across the energy, infrastructure, firefighting technology and system integration services have signed a strategic partnership to launch NEXGEN.

NEXGEN will support the creation of a compliant digital energy market to supply critical energy infrastructure that will monetize wasted energy such as flared gas in the UAE, KSA, and Egypt with the aim of hosting global data center operators, reducing carbon emissions and contributing the Digital Energy Infrastructure (DEI) Fund, a local decarbonization innovation fund.

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

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

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

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

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

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

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

Bahrain’s Ministry of Justice to utilize AI and Blockchain for digital transformation project

Bahrain’s Ministry of Justice to utilize AI and Blockchain for digital transformation project

During, the 74th Information and Communication Technology Governance Committee (ICTGC) meeting, chaired by Mohammed Ali Al Qaed, the Information & eGovernment Authority (iGA) Chief Executive, the Ministry of Justice, Islamic Affairs, and Waqf’s digital transformation project which involves notary services, streamlining processes, for citizens and residents employing Blockchain and AI technology.

The Ministry of Justice, Islamic Affairs, and Waqf’ss digital transformation project was discussed. It involves virtual notary and virtual court hearing. This initiative aims to create a secure platform to enable virtual court hearings digitally as well as virtual notary services, streamlining processes for citizens and residents. It will employ advanced technologies such as artificial intelligence and blockchain for enhanced identity verification and document confidentiality as well as integrating with the eKey system and government notification system to maximize the use of shared services offered by the Information & eGovernment Authority (iGA).

The committee also evaluated the Ministry of Electricity and Water Affairs’s mobile app project for electric vehicle (EV) chargers, designed to facilitate payment processes at EV charging stations. This project aligns with the ministry’s efforts to develop the infrastructure needed for electric chargers across Bahrain.

The committee examined the electronic animal registration system project by the Ministry of Municipalities Affairs and Agriculture, which aims to create a system for registering animals and documenting their health records while automating related procedures. This initiative is part of the Ministry’s digital transformation efforts. This project will be implemented using modern development technologies such as Low-Code platforms.

Bahrain has also been a progressive country in the crypto domain, with Crypto.com being the most recent global crypto exchange to receive a license after Binance.

UAE AI and Blockchain climate tech startup raises $3 million

UAE AI and Blockchain climate tech startup raises $3 million

UAE based AI and Blockchain enabled Coral, climate tech startup specializing in carbon emission management and offsetting solutions, has secured $3 million in funding in its recent seed round. The round was led by a group of seasoned tech investors with a cumulative 40 years of experience in the sector.

Coral offers a comprehensive, AI-driven platform that facilitates and automates carbon data collection, footprint evaluation, reporting, and offsetting in a single system, providing businesses with a streamlined solution to manage their carbon emissions. The platform also offers e-commerce businesses the ability to integrate a one-click offset integration in their checkout pages, which provides their customers the sustainable shopping experience they desire. Coral’s blockchain backend also allows full lifecycle traceability of carbon credits and real-time auditability of offsets to ensure quality and transparency.

“We’re thrilled to have completed our seed round and are grateful for the support from our investors who share our vision for a sustainable future,” said Daniele Sileri, Director of Product and Strategy at Coral. “This funding will enable us to scale our platform, expand our team, and accelerate our mission to make carbon neutrality accessible and transparent for businesses worldwide.”

Coral has already established key partnerships, including a significant collaboration with Nissan, where the company has been providing carbon footprint calculations and offsetting solutions since last year for their Formula E team. Coral’s Emissions Management System (EMS) is already live for several other clients and currently onboarding major corporate customers and ecosystem players, including partnerships with international climate organisations.

“Our platform differentiates itself by not just talking about AI and blockchain as trendy topics, but by effectively implementing them as core components of Coral’s EMS Platform that truly enhance the customer journey. We’re proud to demonstrate how these advanced technologies can be seamlessly integrated to simplify data collection, analysis, and reporting; offering real value to our users,” added Juergen Hoebarth, Director of Operations and Research. “With the carbon market expected to grow exponentially by 2030, we’re in a prime position to make a significant impact, helping organizations achieve their sustainability goals. Following our recent funding, Coral plans to expand its operations by opening a new office in Abu Dhabi and further growing our team of experts to reach a broader customer base and scale up operations.”

This comes as sustainable climate projects for the digital economy take precedence in the UAE with the launch of the Digital Energy Fund.

UAE First Abu Dhabi Bank completes Blockchain JPM Coin pilot for second time

UAE First Abu Dhabi Bank completes Blockchain JPM Coin pilot for second time

UAE First Abu Dhabi Bank has successfully completed a pilot for J.P Morgan Blockchain based JPM Coin System for programmable payments. The announcement interestingly has been made for the second time.

FAB has become one of the first financial institution to complete the programmable payment pilot with JPM Coin, enabling payments to be triggered at specific times or events.

This successful pilot opens up the possibility of a dynamic and automated funding and settlement solution to FAB and J.P. Morgan’s mutual clients. This solution will enable clients to benefit from Onyx’s real-time and/or event-based programmable capabilities. As part of the pilot, FAB successfully completed time-based and threshold balance-based account funding into deposit accounts to execute a payment obligation.

Unlike traditional cash concentration structures, which often lack real-time features or event-based configuration controlled by a bank, this innovation delivers more forward-looking possibilities where programmability can be used to provide flexibility to the client. Conditions for payment initiation and execution can be replicated on the bank’s side, resulting in improved execution response times with finality and traceability. Banks, with their rich transaction data, are in a better position to build a wide range of programmable scenarios, including instructions within payments and obligation-linked payments that are settled in an all-or-none manner.

With programmable payments, treasurers can transition from cash forecasting to dynamic or just-in-time (JIT) funding 24/7, maximising yields on surplus cash and minimising fees and opportunity costs. Unexpected payment failures or drawing on credit lines can be minimised. The successful pilot will also pave the way for more use cases, such as automated and conditional invoice payments, margin funding, and settlement solutions.

“One of our foremost objectives has been to bring new and innovative digital solutions to our clients and the industry at large. We are delighted to work with the FAB to extend our programmable payment offerings to multi-bank use cases. We believe that digital programmable ledgers will form the foundations for the finternet in the coming years,” said Naveen Mallela, Co-Head of Onyx by J.P. Morgan.

FAB is at the forefront of providing cutting-edge technologies to create a future-ready bank that delivers smarter and more agile solutions to serve its clients’ needs, as underscored by this innovative pilot in collaboration with J.P. Morgan.

In 2023 UAE FAB bank, (First Abu Dhabi Bank), made the same announcement.

Bahrain’s ABC Bank was the first bank to actually go live with Coin System built on Onyx by J.P Morgan, after two years of piloting.

Henri Arslanian launches children’s book Decoding crypto

Henri Arslanian launches children’s book Decoding crypto

Blockchain digital assets analyst and expert Henri Arslanian has launched Decoding Crypto with Henri & Hodler, a groundbreaking new children’s book that combines education with entertainment, guiding young readers through the fascinating world of digital assets, blockchain technology, and the future of money.

As per the press release, Decoding Crypto with Henri & Hodler is just the beginning of an ambitious project to bring digital literacy and financial education to children worldwide.

As the first book in an exciting new series, Decoding Crypto with Henri & Hodler takes readers on an adventurous learning journey alongside two charismatic crypto-enthusiasts, Henri and Hodler, who, together with a lively cast of characters—including the tech-savvy Solidity, and buddies Naka and Moto—make complex topics fun and engaging.


Through clever rhymes, vivid illustrations, and creative interactive elements, children learn about the history and evolution of money and discover new concepts about the future of money, from Bitcoin and Ethereum to the latest trends in DeFi, NFTs, Metaverses, and more.
The book introduces readers to these topics in a clear, easy to follow “A-to-Z” format, beginning with Altcoin, Bitcoin, and Cryptography … and continuing through to Yield Farming and ZK-Proof.


Developed in Collaboration With Crypto Firms Ledger and First Digital The book’s production and development spanned over three years and included interviews with dozens of educators, teachers, and parents to ensure that the subject matter is presented in a
clear, ethical, and responsible manner.


The book is powered by collaborations with leading crypto firms, with Ledger serving as the premier technology partner and First Digital serving as the premier education partner.

Decoding Crypto with Henri & Hodler is co-authored by Henri Arslanian, a globally recognized thought leader and educator in the world of crypto and digital assets. Henri is the author of several bestselling books on crypto and the future of money including “The Book of Crypto” and “The Future of Finance.”

With his experience as a university professor teaching crypto since 2015, the host of the Crypto Capsule LinkedIn educational series that is shared weekly with his over half-million LinkedIn followers, and recently the co-host of the Crypto Weekly show on CNBC Arabia, Henri brings a wealth of knowledge and a passion for educating the next generation on the future of finance.
Co-author, Michael Dotsikas, is a bestselling children’s author, creator of the award-winning “Benjamin Birdie” children’s picture book series, an experienced writer, and sought-after literary mentor with a deep commitment to making complex topics accessible and engaging for young readers, while devoted to mindful storytelling.


Together, they have crafted a book that not only demystifies the often-complex world of digital assets but does so in a way that is fun, interactive, and suitable for children of all ages. The book is illustrated by Billy Martin, who is best known as the lead guitarist for the
multi-platinum selling bank Good Charlotte.

Yat Siu, Chairman and Co-Founder of Animoca Brands, calls it “a perfect introduction to the world of blockchain and the future of money for the next generation,” while Pascal Gauthier, CEO of Ledger, highlights the book’s vital role in empowering children: “The transformative power of cryptocurrencies is something everyone needs to understand, and kids first! This book
is a must-read!”

Unlike traditional children’s books, Decoding Crypto with Henri & Hodler takes an interactive storytelling approach, blending vibrant comic book style illustrations with playful, engaging narrative to create a dynamic learning experience, capturing the imagination while inviting
reader participation.


A unique feature is the inclusion of QR codes throughout, which lead readers to additional resources, offering deeper insights into the various concepts and terms explored in the story.


Another valuable educational element is the added in-depth glossary and appendices of “fun facts” designed to equip parents and educators with additional knowledge, empowering them to better understand the subject matter.

Saudi cloud provider Virtual Vision introduces Blockchain as a service

Saudi cloud provider Virtual Vision introduces Blockchain as a service

 Saudi Arabian cloud provider, Virtual Vision (V2), has expanded its service portfolio with the introduction of Blockchain-as-a-Service (BlaaS) provided by CloudSigma and Red Date Technology.

Tailored for the Saudi business landscape, this initiative will solidify V2’s leadership in public cloud services and equip regional enterprises with innovative blockchain solutions. With a surge of interest from businesses in adopting blockchain technology, the technical complexities and high costs involved in configuring, operating, and managing a blockchain infrastructure can often act as barriers.

V2’s BlaaS streamlines the process, allowing businesses to easily create, manage, and operate blockchain applications in its cloud environment. BlaaS simplifies the adoption of blockchain, making it a usable and affordable tool for businesses.

This collaboration follows the successful enablement of the Blockchain-as-a-Service capability powered by Red Date Technology’s RDCloud Software platform into the V2 Cloud in Saudi Arabia.

As the first local BlaaS provider in Saudi Arabia, V2’s BlaaS offering is uniquely positioned to revolutionize the region’s digital and economic landscape, empowering dramatic cost reductions—up to 89% in development, 66% in training, and 45% in overall operational expenses—making it a cost-effective solution for businesses of all sizes.

Moreover, V2 stands out in the Saudi market with its strong local presence, which ensures compliance with national regulations and offers customer service tailored to the local business environment, which is further enhanced by V2’s connection to major Saudi telecom providers, ensuring high-speed and secure data transmission across the network.

Hazem Sandouka​, COO at Virtual Vision​, noted, “We are thrilled to announce the launch of the Blockchain as a Service (BlaaS) on our cloud platform, a pioneering initiative specifically tailored for Saudi Arabia. This strategic expansion is not just about technology adoption, it’s about seamlessly integrating blockchain into the heart of digital transformation efforts across the kingdom. By offering this service, we aim to empower organizations in Saudi Arabia to meet their unique needs with sovereign cloud solutions, ensuring that data sovereignty and security are at the forefront. Our commitment is to provide a robust infrastructure that enhances transparency, efficiency, and trust, aligning with Saudi Arabia’s visionary goals for a digital-first future.”

Tim Bailey​, VP of Global Business & Operations at Red Date Technology​ added, “The Middle East is a strategically important region for our global expansion, and we are proud to partner with Virtual Vision and CloudSigma to deliver innovative decentralized solutions to customers in Saudi Arabia. We believe that our partnership with both technology leaders will enable us to continue to expand our global footprint, deliver even greater value to our customers, and help drive innovation in the blockchain industry.”

This collaboration combines the technical strength and commercial expertise of three industry leaders in their respective business segments. Together, Virtual Vision, CloudSigma, and Red Date Technology are set to reshape the digital frontier in Saudi Arabia, offering businesses and institutions the transformative power of blockchain that will enable innovative applications.