UAE M2 now offers seamless AED to BTC and ETH conversions

UAE M2 now offers seamless AED to BTC and ETH conversions

M2 registered in ADGM, a virtual asset custodian and a Multilateral Trading Facility regulated by the Financial Services Regulatory Authority (FSRA) ADGM, has launched what it calls a simplified pathway for UAE residents to buy and sell Bitcoin (BTC) and Ethereum (ETH) through a direct integration with their bank account.

As per the press release, the integration serves as a significant milestone both for the wider accessibility of virtual assets in the region, as well as M2 working to offer a best-in-class product offering within a rapidly evolving landscape.

The new solution will allow UAE residents with banking services to seamlessly convert United Arab Emirates’ Dirhams (AED) into BTC and ETH – and vice versa – via trading pairs listed on M2’s spot market.

The press release adds, that this new pathway, which leverages the strength and security of robust banking infrastructure, is the most recent milestone in M2’s continued work to build trust and industry leading compliance in providing both the safe custody of virtual assets, and the ability to trade Bitcoin (BTC) and Ethereum (ETH) with UAE Dirham (AED).


CEO of M2 Stefan Kimmel said, “Through this compliant integration, UAE residents can enjoy the familiarity of their existing and trusted banking services, coupled with the cutting-edge security and functionality of our platform. This is all executed within one of the world’s strictest regulatory frameworks where consumer protection, technology, governance and custody are paramount. It is a significant step for M2 in ADGM as we work to expand our offering for the MENA region and reduce the friction in how clients can navigate between traditional finance and virtual assets.”

Sources close to the matter explained to Lara on the Block, that currently M2 is working with one major bank ( which prefers not to be named) and will expand this to other banks in the UAE in the future.

M2 registered in ADGM, which launched back in November 2023, announced that it was able to onboard retail and institutional clients and would be offering AED Fiat on and off ramp through its participation with a local bank. Eight months later, M2 is finally able to do this.

In a previous interview with Stefan Kimmel with Lara on the Block, Kimmel noted, that launching a fully regulated, transparent clean startup from Abu Dhabi ADGM ( Abu Dhabi Global Market) was because the FSRA ( Financial Services and Regulatory Authority) in ADGM is one of the oldest most respected and esteemed regulatory authorities when it comes to virtual assets and crypto. FSRA as Kimmel explained has been around for five years and has a comprehensive solid framework. He stated, “ After all that has happened in crypto over the past few years, everyone is looking for a safe protected transparent exchange, and this is what we are offering from ADGM.”

He also noted, M2 has is its strong liquidity which is essential for the success of any crypto exchange. M2 has an equity investment of $300 million with strategic partners being UAE based Phoenix Group and several Abu Dhabi family offices.

Bitcoin Magazine to hold its first Bitcoin MENA conference in UAE

Bitcoin Magazine to hold its first Bitcoin MENA conference in UAE

UAE based ADNEC Group, an events management company, will be holding the first Bitcoin MENA Conference in partnership with Bitcoin Magazine and Capital events. The Bitcoin MENA Conference 2024 is set to take place December 9-10th in the heart of Abu Dhabi at the ADNEC Centre Abu Dhabi.

The event will be co-organized by Capital Events, the event management arm of ADNEC Group, and BTC Inc., the parent company of Bitcoin Magazine and the Bitcoin 2024 conference. The seminal partnership was cemented by a high-profile signing ceremony between Humaid Matar Al Dhaheri, MD and Group CEO of ADNEC Group and David Bailey, CEO of BTC Inc. The launch of this event marks a significant milestone in the world’s largest Bitcoin conference’s expansion into the investment-friendly, dynamic, and rapidly growing MENA region.

Humaid Matar Al Dhaheri Managing Director and Group CEO of ADNEC Group said: “Organizing this conference in the Emirate of Abu Dhabi reinforces its status as a regional and global epicenter for cryptocurrencies. It provides the region with a crucial platform for dialogue, discourse, and the sharing of knowledge and insights in this domain, contributing to shaping the sector’s regional trajectory for the future. The strategic collaboration with BTC Inc. to host the inaugural Bitcoin MENA Conference underscores the increasing global interest in investing in decentralized digital currencies in recent years. This partnership reflects our anticipation of future growth trends within this leading investment field.”

The Bitcoin Conference, produced by BTC Inc., is the world’s largest and most globally recognized conference brand dedicated to advancing the understanding and adoption of Bitcoin and blockchain technology. With a mission to foster collaboration and innovation, the conference brand brings together key stakeholders from across the global Bitcoin ecosystem to shape the future of Bitcoin and exhibit the latest developments, technology, and services.

Throughout this two-day event, participants will delve into the potential, challenges, and innovations within the developing Bitcoin ecosystem. Showcasing an impressive roster of expert speakers and influencers in the Bitcoin space, Bitcoin MENA is set to present a dynamic agenda complete with engaging keynote sessions, interactive discussions, and insightful workshops on key industry topics. These include the emergence of a new wave of banking and finance within the Bitcoin space, the dynamics of Mining, and the competition for energy dominance, along with insights into open-source initiatives tailored for the technical minds in the Bitcoin community.

Additionally, Bitcoin MENA 2024 will offer a variety of networking opportunities, fostering meaningful international and regional connections among participants whilst also providing a platform to showcase cutting-edge innovations and the latest developments in Bitcoin technology and services.

David Bailey, CEO of BTC Inc. noted, “Across our ecosystem, we have seen a significant upsurge in interest to enter the MENA region. When visiting Abu Dhabi, it became clear that it had all the right ingredients – infrastructure, investment, bold vision, and global access – to provide a perfect home for the international Bitcoin community to tap into the boundless opportunities this vibrant region has to offer. Capital Events and ADNEC Group are the ideal partners to collaborate with us on this journey as they bring world-class infrastructure and deep connections within the region to help supercharge growth and quickly establish Bitcoin MENA as the region’s go-to event.”

Darren Johnson, CEO of Capital Events added, “We are extremely excited to be partnering with BTC Inc. on this vital launch of Bitcoin MENA. Abu Dhabi’s increasing adoption of blockchain technology and friendly progressive regulatory environment have resulted in several high-profile industry licenses being awarded, thereby firmly positioning Abu Dhabi as the optimal hub for the flourishing adoption of Bitcoin in the region. It was clear early on in our discussions with BTC Inc. that we shared the same vision of creating an exceptional world-class event that would serve as a cornerstone in the region’s thriving Bitcoin landscape. We are confident that their deep specialist experience and global industry connections, coupled with our multi-sectoral experience and regional footprint, will make for a memorable launch and long-term growth.”

Saudi, Russia, and Iran to deal in Bitcoin and Qatar to pull trigger with Bitcoin buy

Saudi, Russia, and Iran to deal in Bitcoin and Qatar to pull trigger with Bitcoin buy

Russia, Saudi Arabia and Iran to start doing deals in Bitcoin, this is a statement made on X by no other than Max Keiser, the well-known Bitcoin influencer and the host of Keiser report, who is as well senior Bitcoin advisor to Nayib Bukele, the President of El Salvador.

As per Keiser’s statement, on X, “Russia, KSA, Iran will start doing deals in Bitcoin. Qatar knows this and is pulling the trigger on a huge BTC buy for their SWF (Sovereign Wealth Fund).”

This comes just days after Keiser stated that the Qatar sovereign Fund would be buying $500 billion of Bitcoin. Keiser had stated on X, “I have 1 word for you $100,000 Bitcoin God Candle fans. QATAR, the rumors are getting very loud on this. Their SWF (Sovereign Wealth Fund) rumored to looking to buy 1/2 trillion BTC (Bitcoin).”

Months prior to this Qatar was touted as discussing Bitcoin mining during the visit of HH Prince Sheikh Tamim bin Hamad Al-Thani of Qatar to El Salvador but nothing materialized on that front yet.

Keiser is a longtime Bitcoin advocate and educator, having advised people to buy Bitcoin since the price was $1.

With his statements Keiser seems to imply that the top GCC countries, Iran, and Russia plans to break away from the U.S. dollar and gravitate towards Bitcoin for trade.

Some would say that given that the Qatar Investment Authority founded in 2005 in October 2023, had an estimated $475 billion of assets under management would they use all that to buy Bitcoin? Qatar has not even legalized the trade of cryptocurrencies and neither has Saudi Arabia, Iran, or Russia.

In January 2023, Qatar Investment Authority CEO Mansoor Ebrahim Al-Mahmoud told Bloomberg that they would be interested in the credit space, and AI (Artificial Intelligence) as a theme of investments. In 2022 the CEO of Qatar Sovereign Wealth Fund showed interest in investing in Blockchain but shunned crypto.

Could the strained relationships with the United States be pushing forward this movement towards de-dollarization in the form of utilization of Bitcoin?

Another interesting analysis could be that Qatar is actually interested in Bitcoin mining in El Salvador.  El Salvador was noted as entering a public private partnership worth $1billion to create the world’s largest Bitcoin mining farm. Volcano Energy has developed the first mining pool in El Salvador with Luxor Technology.

This according to Volcano Energy is a $1 billion Bitcoin mining project set to transform El Salvador through the development and operation of renewable energy plants. Could Qatar one of the most experienced and highly invested renewable energy country be interested in this project? Maybe just maybe yes!