Environmentally friendly Crypto mining Hosting company enters UAE with UAE SEED Group

Environmentally friendly Crypto mining Hosting company enters UAE with UAE SEED Group

Even before the UAE and specifically Dubai release their crypto mining regulations, companies have already started operating in the country. Recently 2Bminer, crypto mining hosting center with operations in the UAE, Czech Republic, and USA, signed a partnership agreement with UAE Seed Group, a company of the Private office of Sheikh Saeed Bin Ahmed Al Maktoum.

The announcement and the fact that 2Bminer is present in the UAE is not surprising. Prior to this, UAE-based Phoenix Technology Consultants signed a $650 million order for crypto mining rigs as part of its expansion plans in UAE and MENA region, while a UAE Sovereign wealth Fund is building one of the biggest crypto mining farms in the region under the strategic guidance of Roland Berger.

It would seem that 2BMiner is espousing its ecofriendly nature. As per 2Bminer website, their crypto mining machines mainly use hydro, wind and solar power. Sustainability is something that the UAE government is keen on. The company offers the sale of mining machines and as well as the placement of those machines in their centers and under their management. In short 2Bminer offers mining hosting services.

As per the press release, the agreement with UAE SEED group, SEED will help 2bminer.com expand its operations in the Emirates and the wider Middle East, reach the right audience, access top decision-makers in the government as well as private sectors, and market their crypto mining products and services effectively in the region.  While 2Bminer will focus on transforming the crypto mining market of the UAE by providing the best machines, technical support, and global hosting centers to make the minting of cryptocurrencies easier and more profitable. 

Hisham Al Gurg, CEO of Seed Group and the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, said: “As cryptocurrencies are becoming increasingly popular, people are eager to invest in them and make profits. The UAE wants to establish a crypto mining ecosystem, offering a growth-oriented environment to FinTech companies and world-class mining services to clients in the region itself. Companies offering mining equipment, hosting services, world-class facilities, and good returns to investors at globally competitive rates hold huge potential in the Emirates’ digital economy.”

Jakub Hlavenka, CEO, 2bminer.com, said: “We are pleased to enter into a mutually beneficial partnership with SEED Group. The collaboration will help propel our business interests and goals in the MENA region through the group’s support and a strong base of regional connections. We are committed to providing the best platform for crypto mining in the region.”

This is not the first agreement SEED group has signed with Blockchain and crypto entities. Over the years, UAE SEED Group has announced many such partnerships examples include Ubirch, a German blockchain cyber security specialist, DiamondBack, creators diamondbacked stablecoin, DeepDive Technology, OwlTing for Blockchain ecommerce solutions for travel services, Aergo Foundation and Blocko, Fantom Foundation and Liquefy a security token solution provider.

Of those companies, Liquefy no longer seems to exist, DiamondBack has no presence in UAE nor does it seem to be active. As for Ubirch, they are in the UAE but no major announcements have been made thus far along the lines of their activities in the UAE.

As for OwlTing, it still seems to be active in China and Asia but no activities in the MENA region. Then there is Fantom Foundation which has seen some controversy over the past year despite its strong presence at Consensys 2022 and announcements that TrustWallet now supports Fantom.  

As for DeepDive, it has built partnerships in the UAE. It is a partner of UAE Bedu which encompasses an NFT factory, and metaverse solution provider. 

So in short, while SEED has partnered over the years with several entities in the Blockchain and crypto sector we have yet to see strong hanging fruits of these partnerships on the ground in the UAE. Even though some have managed to make some inroads. The recent one with 2Bminer might be a game changer for SEED, we will just have to wait and see.

Roland Berger Crypto Oasis partnership to propel the biggest Blockchain and crypto projects in MENA

Roland Berger Crypto Oasis partnership to propel the biggest Blockchain and crypto projects in MENA

It is big news when a leading global strategy and management consultancy firm like Roland Berger partners with UAE Crypto Oasis, a Middle East focused Blockchain Ecosystem supported by initiators of Crypto Valley Switzerland.

As per the announcement, Roland Berger will bring forward its talents and resources to propel the Blockchain ecosystem to new heights in the MENA region and globally. Roland Berger was one of the first to herald in a crypto economy advisory practice out of the UAE.

The partnership comes at a time when UAE Crypto Oasis is now targeting 1500 Blockchain crypto entities to enter the UAE after UAE reached the target of 1000 blockchain and crypto entities before the end of 2022.

Roland Berger has been working with several clients in the region. They are strategic advisors to the biggest blockchain crypto projects in the region including the largest Bitcoin mining facility in MENA as well as the set-up of a tokenized green asset exchange.

The combination of both Crypto Oasis disruptive ecosystem and Roland Berger’s strong association with governments and corporates and commercial and technical knowhow is explosive.

Pierre Samaties, one of the partners in charge of leading the global Crypto Economy team for Roland Berger, stated: “Crypto Oasis has a strong ecosystem network of organizations that are breakthrough innovators and are leapfrogging ahead. We have witnessed their explosive growth in the past few months. As we assist companies in their journey towards the crypto economy, it is vital to have access to the latest innovation and talent in this fast moving space”. “We believe that with Crypto Oasis’ core values of infrastructure, talent, and capital, we can integrate alliances in their unique Ecosystem and transform the crypto economy landscape” added Feroz Sanaulla, Partner and global Co-head of the Crypto Economy team.

“We are delighted to welcome Roland Berger as our newest global strategic partner”, commented Ralf Glabischnig, Founder of Crypto Oasis. “Our Ecosystem members will have access to their world-class management consultancy that will support them as they embrace the opportunities to transform their business and utilize Blockchain solutions. With Roland Berger’s strong presence among governments and corporations, we expect this partnership to help us develop meaningful connections with them. As they step further into the Blockchain economy we will be working together to release thought leadership reports to further educate and inform the market of this ever growing and evolving ecosystem”.

Central African President sets up Bitcoin mining farm in UAE

Central African President sets up Bitcoin mining farm in UAE

News spread in May 2022 that Central African President Faustin Archange Touadera was travelling to the UAE to oversee the launch the crypto mining company. This came after Central Africa affirmed Bitcoin as a legal tender in the country.

The website African Intelligence was the news platform that mentioned the President’s visit to UAE on May 12th 2022. LeMonde News platform stated that due to lack of infrastructure in Central African state, the mining company for Bitcoin would be located in Dubai.  Nothing else was reported on this, and no official comments were made on this by UAE officials. 

This comes at a time when VARA (Virtual Asset Regulatory Authority) in Dubai UAE, stated that it would be regulating crypto mining operations. Already a sovereign wealth fund in Abu Dhabi is building one of the world’s biggest crypto mining farms with strategic advisors, Roland Berger. 

In addition US Crusoe Energy, which mines Bitcoin using wasted natural gas expanded into the Middle East specifically Oman and UAE after it received investments from UAE Based Mubadala, sovereign Wealth Fund in Abu Dhabi and Oman investment Authority. The total investment received by Crusoe was 350 million. Crusoe as per an article in CoinDesk will initially open an office in Muscat Oman followed by an office in Abu Dhabi.

Oman Central Bank official announces CBDC project

Oman Central Bank official announces CBDC project

The Executive President of the Central Bank of Oman, Mr. Tahir Salim Al Amri, commented during the 7t Edition of the new Age Banking Summit on the topic of CBDCs (Central Bank Digital Currencies)

As per a tweet from Oman News Agency stated, “The Central Bank of Oman is working to issue its own CBDC. Many central banks are studying the possibility of issuing their own CBDCs and the Central Bank of Oman is committed to supporting innovation in the financial sector.”

He also mentioned that work was underway to open banking API services and overcoming challenges that face the digitization sector, and stressed the importance of cyber security.

In April 2022, Oman Capital Market Authority announced that it would incorporate real estate tokenization within its virtual assets regulation as well as license crypto exchanges. The Oman virtual asset regulation will be finalized by Q3 of 2022.

Kemal Rizadi, Advisor at the Oman Capital Market Authority made these comments during the Real Estate Exhibition and Conference held in Muscat Oman. As per the comments, real estate tokenization is an option being considered in the proposed virtual asset regulatory framework under process within CMA.

Earlier this year in January 2022 The Oman capital markets Authority announced a tender for specialized companies to assist in setting up a legislative and regulatory framework for virtual assets and licensing supervision and regulations of Virtual assets service providers within the Sultanate of Oman.

Finally it also seems that Oman is indirectly starting to enter the crypto mining sector. Oman’s sovereign wealth fund took an equity stake in a U.S. firm which helps fossil-fuel producers cut flaring by using stranded natural gas to power cryptocurrency mining instead.

Oman Investment Authority was part of the $350 million equity round that Crusoe Energy Systems Inc. raised in April, 2022 according to a statement.

US based Crusoe is opening an office in Oman to deploy power generators and mining equipment for capturing gas at well sites. These statements were made by CEO of Crusoe Chase Lochmiller. It is known that MENA accounts for about 38 percent of the world’s gas flaring.