UK crypto broker DKK Digital receives license in UAE

UK crypto broker DKK Digital receives license in UAE

DKK Digital FZE, a Dubai based subsidiary of DKK Partners based in London, has secured full regulatory approval from the Dubai Virtual Assets Regulatory Authority (VARA) to operate as a licensed Virtual Asset Service Provider (VASP) Broker/Dealer as it plans to scale its operations across the Middle East.

As per the announcement, DKK Digital is now authorized to offer a comprehensive suite of regulated digital asset services, including fiat on/off ramp infrastructure and liquidity provision for stablecoins such as Electronic Dirham (EAED), USD Tether (USDT), USD Coin (USDC), and Ripple USD (XRP).

Khalid Talukder, Co-Founder & CEO of DKK Digital commented, “Receiving full regulatory approval from VARA is a major milestone for DKK Digital and a strong validation of our commitment to building within a compliant and forward-thinking framework while contributing to Dubai’s vision as a global hub for blockchain and Web3 innovation. This license enables us to officially operate as a regulated Broker/Dealer VASP and further strengthens our ability to deliver secure, institutional-grade digital asset solutions across the region and beyond.”

The firm’s approval also reinforces its capacity to build robust partnerships with banks, fintech companies and financial institutions across the regions, enabling regulated services for cross-border settlements, FX markets and treasury operations.

This week alone in the UAE, several crypto brokers and exchanges such as Gate.io and Bitgo both receiving licenses from VARA adding to the already competitive crypto exchange market.

Gate crypto exchange licensed by UAE regulator

Gate crypto exchange licensed by UAE regulator

Gate Group, which operates Gateio crypto exchange announced that its UAE subsidiary Gate Technology FZE known as Gate Dubai has obtained a VASP License under the regulation and supervision of VARA in Dubai to provide crypto exchange services and is permitted to serve institutional investors, qualified investors, and retail investors.

Dr. Han, Gate Group’s Founder and CEO, commented, “We have always adhered to a compliance-first strategy, and Dubai is undoubtedly one of the most forward-looking jurisdictions in the global crypto industry. Obtaining VARA’s full operational license is a critical step in Gate Group’s expansion across the Middle East and the world.We look forward to growing alongside Dubai’s ecosystem and driving further prosperity in the local digital economy.”

The crypto exchange is also launching its office and expanding its local team.

As per the announcement Gate Dubai will allow users to initiate crypto-to-crypto and fiat-to-crypto and vice versa trades with other users as the counterparties to these transactions.

Gate crypto exchange has also sought licenses and received approvals in Lithuania, Argentina, Malta, Italy, Gibraltar, Bahamas, and Hong Kong. Last year, Gate Group also completed the acquisition of Japan-licensed exchange Coin Master, further broadening its international compliance network.

UAE OKX crypto exchange launches $1.3 million reward campaign

UAE OKX crypto exchange launches $1.3 million reward campaign

OKX, the global crypto platform regulated in the UAE, has launched one of the biggest crypto trading campaigns that the UAE has ever seen. The total reward pool is 5 million AED equivalent to $1.36 million dollars.

As per the campaign all users have to do is sign up, link their UAE Bank account and trade. Individual prize awards will reach up to 50,000 AED equivalent to $13,600, while new users will also receive AED 250 on their first deposit of AED 250, and AED 500 on completing their first trade of AED 500.

There are also daily rewards of up to 100 USDT for every 1,000 USDT traded.

This is not the first campaign to be launched this year in UAE by either crypto exchanges or even crypto savvy digital banks such as Liv Bank which recently also launched its crypto campaign, however this is one of the biggest pool rewards.

As the scene in the UAE becomes more competitive with many licensed crypto exchanges competing for clients, and with the entrance of banks into the crypto scene, more campaigns, services and offerings will be on the table.

Ruya, UAE’s first digital Islamic Bank offers crypto trading services

Ruya, UAE’s first digital Islamic Bank offers crypto trading services

UAE based ruya (رويا), the country’s first digital-first Islamic bank has partnered with UAE Fuze a digital asset infrastructure provider to offer its customers crypto services including crypto buying and selling. Users will be able to purchase cryptos such as Bitcoin on Ruya’s mobile application.

As per the announcement this service is part of ruya’s broader investment offering, designed to promote ethical Islamic wealth building and long-term financial growth. Both Fuze and Ruya note that the service is secure, user friendly and aligned with ethical Islamic financial principles.

“At ruya, we are committed to transforming the financial landscape in the UAE by offering forward-thinking services while staying true to our mission of ethical Islamic banking. By integrating virtual assets into our investment platform, we aim to empower our customers to participate in the digital economy in a sustainable and responsible way. We can also assure our customers that the virtual assets we are offering on our ruya investment platform are Shari’ah-compliant, providing much-needed certainty,” said Christoph Koster, CEO of ruya.

Mohammed Ali Yusuf (Mo Ali Yusuf), Co-Founder and CEO of Fuze, shared: “Partnering with ruya is a big step towards making virtual assets a seamless part of everyday banking. Together, we’re combining Fuze’s cutting-edge infrastructure with ruya’s commitment to ethical Islamic banking. We are excited to be at the forefront of providing simple, secure, and ethical digital asset solutions for the future.”

Unlike platforms that encourage speculative trading, ruya’s virtual assets service is part of a carefully curated investment framework, fostering long-term wealth building.

Christoph Koster added, “By partnering with Fuze, we’ve ensured that our customers will benefit from a robust and trusted platform to access the opportunities in the virtual asset space. This service reflects our promise to innovate while maintaining the highest standards of ethical Islamic banking.”

Ruya is not the first bank to offer crypto buy and sell services. A month ago Liv Digital Bank part of Emirates NBD also opened up crypto trading, buying and custody service for clients.

Egypt makes up 30 percent of Weex crypto exchange MENA customers

Egypt makes up 30 percent of Weex crypto exchange MENA customers

WEEX crypto exchange, which has over 6 million customers globally, has announced that since it started serving the MENA region in January 2025, it has witnessed expansive growth especially in countries such as Egypt, Algeria, Iraq, Morocco and Saudi Arabia.

Egypt has the highest number of users on WEEX crypto exchange making up 30 percent of their total MENA customer base, while Algeria follows at 17.3 percent, Iraq and Morocco making up 7-8 percent respectively.

Surprisingly Saudi Arabia customers are just 6.2 percent of their total MENA customer base. All numbers are founded on data up to March 31st, 2025.

While the number of customers still make up less than 1 percent of their total customer base, WEEX has showcased their commitment to the MENA region, launching their headquarters in the UAE as part of MENA expansion plans.

The Dubai headquarter currently houses 600 employees and is expected to add 50 more hires over the next two years. 

Andrew Weiner, Vice President of WEEX, stated, “We have witnessed impressive growth in our MENA customer base since we began offering our services in January 2025, this showcases the attraction that crypto has in the region especially in countries in North Africa, and the GCC. We will continue to expand our offering to support the MENA region while we seek to acquire regulatory licenses.”

He adds, “We believe that everyone should be able to access the crypto market, and that crypto will play a strong role in the economies of the future especially in the Middle East. We hope to serve our clients with the utmost security, transparency, and offering.”

WEEX already serves 6.2 million customers across 130+ countries. The crypto exchange has a daily trading volume of over $5 billion and supports more than 1,700 trading pairs. WEEX also boasts of a 1,000 BTC Protection Fund to protect users’ assets. In MENA the crypto exchange is offering Arabic language support through chatbot on their website, submitting a ticket on the website as well as through their telegram community.

Fred, MENA Regional Manager, WEEX, noted, “As traditional markets wrestle with inflation and uncertainty, crypto stands as a beacon of innovation, offering a glimpse into a more resilient, decentralized financial future.”

WEEX is currently participating and sponsoring TOKEN2049 Dubai event being held in Dubai UAE between April 30th and May 1st, 2025.

The Chainalysis 2024 crypto geography report noted that the MENA region has become the seventh largest crypto market globally. The biggest two countries being Turkey and Morocco, while the fastest growing countries were Saudi Arabia and Qatar. Saudi Arabia remained the fastest-growing crypto economy in the MENA region in 2024, growing by 154% year-over-year.

According to Statista, in Egypt, the number of users in the cryptocurrencies market is expected to reach 11.30m users by 2025. The user penetration rate is expected to be 9.72% in 2025.

LIV Bank in UAE launches first crypto trading campaign

LIV Bank in UAE launches first crypto trading campaign

Liv Bank, the first digital bank in UAE, and a subsidiary of Emirates NBD on its website, has launched its first crypto trading campaign in the UAE, spurring the first outright competition between UAE banking sector and crypto exchanges.

While Liv Bank announced their foray into the crypto trading arena back in March 2025, it is only now that they outrightly showcased it on their website and announced their first campaign.

Utilizing services of both Aquanow crypto exchange in the UAE, as well as Zodia Custody services, UAE Liv Bank have showcased themselves as a trusted partner to invest in crypto. UAE Liv Bank, explains how users in the UAE can trade securely with the Liv app for fees as low as 0.5% with guided modules and the security that Emirates NBD Bank brings.

In its crypto trading campaign, Liv Bank is offering every trade placed of order value USD 50 or more one entry into each of the draws. As they noted, “The more the trades, the better your chances to win! Offering prizes of 100,000 AED during the months of May and June 2025.

Users will be able to trade crypto assets such as Bitcoin, Ethereum, Solana, Cardano, Ripple and others.

According to Liv Bank they have simplified the crypto trading process. There are no seed phrases or downloading digital wallets, all users need to to is use the Liv app, As they note, “With Liv, you can begin with small denominations, learning and growing as you go through guided modules that are designed to help you make informed decisions.”

All users have to do is sign up or log in to the Liv X app, Click on the Wealth tab then simply click Apply on the Crypto tile, and fill out the requested details, and submit. Then users can start accessing all their crypto investments.

In March 2025, Liv digital bank a part of Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, announced the launch of their cryptocurrency offering within its mobile banking app – Liv X allowing users to buy sell custody and trade cryptocurrencies in partnership with Aquanow, a UAE regulated crypto asset exchange and Zodia Custody also regulated in the UAE.

At the time Liv digital bank noted that it was committed to introducing innovative products to its customers and this new cryptocurrency offering, with crypto infrastructure operated by Aquanow and custody services performed by Zodia Custody.

WEEX Crypto exchange launches headquarters in UAE

WEEX Crypto exchange launches headquarters in UAE

WEEX crypto exchange, which has over 5 million customers, has set up its headquarters in Dubai UAE with 600 employees already working there and plans to add 50 more over the next two years. The unregulated exchange has chosen the UAE as it expands into the MENA region.

As per the press release, the WEEX crypto exchange will not be serving UAE customers until it receives its VARA ( Dubai Virtual Asset Regulatory Authority) license.

Andrew Weiner, Vice President of WEEX, noted that setting up headquarters in the UAE is part of WEEX’s rapid expansion into the MENA region. He states,“ We plan to expand our team further in Dubai over the next one to two years, adding 30 to 50 new hires to better support local operations and service deployment. Dubai will serve as the central hub for the platform’s global expansion, driving localized operations and team-building efforts to enhance WEEX’s global strength and influence.

WEEX already serves 6.2 million customers across 130+ countries. The crypto exchange has a daily trading volume of over $5 billion and supports more than 1,700 trading pairs. WEEX also boasts of a 1,000 BTC Protection Fund to protect users’ assets.

WEEX is currently participating at and sponsoring TOKEN2049 Dubai event.

UAE has witnessed a growth in the number of crypto exchanges that have chosen the country to house their offices or headquarters. Binance, OKX, Crypto.com among other including CoinMENA and BitOasis all have a strong presence in the country.

Recently the UAE announced not only its stablecoin regulations but also the launch of a Digital Dirham CBDC for the retail sector, while banking entities such as Emirates NBD foray into the crypto scene through subsidiaries like Liv Digital Bank.

BitPanda has secured a crypto broker license in UAE

BitPanda has secured a crypto broker license in UAE

Bitpanda, A European virtual asset platform, has secured a crypto broker-Dealer license from the Dubai Virtual Assets Regulatory Authority (VARA).

As per the press release, the license will allow Bitpanda to make its virtual assets platform available to investors in the UAE including access to over 500 virtual assets – the most extensive virtual assets offering available on the market.

Lukas Enzersdorfer-Konrad, Deputy CEO at Bitpanda Group, noted, “Bitpanda is built on the principle that virtual assets should be secure and accessible. With our VARA license, we are bringing that vision to the UAE, ensuring investors and financial institutions have access to a fully compliant digital asset platform. This is just the beginning of our expansion beyond Europe. We are ready to grow in a region that embraces innovation and regulation equally.”

Bitpanda has already established a permanent office in Dubai at the DMCC Crypto Centre and has a team of regional experts in place who will now work to develop products tailored to the UAE market. Onboarding for UAE investors will begin in the coming months.

Fabian Reinisch, General Counsel at Bitpanda Group, commented: “We obtained approval in record time and I believe that is a testament to the decade experience of our teams working in the digital asset space and our commitment to the highest regulatory standards.”

BitPanda had received preliminary approval back in December 2024, which means it took only four months to get its full license.

BitPanda holds several licenses including a MiCAR license from the German regulator BaFin, registration with the UK’s FCA, a PSD2 E-money license, a MiFID II license, and VASP registrations across multiple markets.

MGX investment in Binance using 2% of its 100 billion fund is AI focused

MGX investment in Binance using 2% of its 100 billion fund is AI focused

As most have hailed the UAE MGX $2 billion investment into Binance as a strategic win for the crypto exchange, the biggest investment to date in a crypto exchange. The real story is what this means for AI (Artificial Intelligence) and leading-edge technology investments and strategy within the UAE.

MGX, chaired by Sheikh Tahnoon Bin Zayed Al Nahyan, the UAE’s national security advisor and a brother of UAE President Sheikh Mohammed bin Zayed, backed not only by Abu Dhabi sovereign wealth fund Mubadala but also G42 invested 2 percent of its 100 billion investment vehicle into the world leading crypto exchange Binance.

MGX the brain child of AI and Advanced Technology Council

MGX was created in 2024 by The Artificial Intelligence and Advanced Technology Council as a Technology Investment Vehicle with Mubadala and G42 as Founding Partners. His Highness Sheikh Mohamed bin Zayed Al Nahyan, the President of the United Arab Emirates announced creation of MGX in January 2024. He hailed it as a technology investment company to enable the advancement and deployment of leading-edge technologies intended to improve the lives of current and future generations.

The aim of the company was to accelerate the development and adoption of AI and advanced technologies through world leading partnerships both in the UAE and globally. MGX focuses on three main areas, AI infrastructure including data centers and connectivity, semiconductors and AI core technologies and applications.

His Highness Sheikh Tahnoun bin Zayed Al Nahyan, deputy ruler of Abu Dhabi and Chair of the AIATC, said at the launch “In MGX, we are establishing a UAE national champion focused on AI and advanced technologies that will shape a future where technology enables a more prosperous, sustainable and interconnected world.

A year later and after investments into OpenAI and Elon Musk’s xAI, DataBricks, Khazna Data, Anthropic and $7 billion in the Stargate Project, as well as partnerships with BlackRock and Microsoft to build data centers and expand energy capacity for AI’s growing demand, it now has invested in Binance.

MGX has now invested $2 billion into Binance

Now, after several huge investments into AI and datacenter projects, MGX has invested 2% or 2 billion of its 100 billion investment vehicle into Binance. Binance explained to Lara on the Block, ” This investment signifies a growing convergence of AI, blockchain, and cryptocurrency technologies. MGX, as an AI-focused investor, is leveraging Binance’s leadership in the crypto space to explore innovative solutions at the intersection of these fields.”

According to Binance the partnership could accelerate the development of AI-powered blockchain applications, decentralized finance (DeFi), and tokenized economies, further integrating these technologies into mainstream finance.

This is further exemplified in a recently commissioned report by Mubadala Investment Company and Abu Dhabi’s AI and advanced technology investor MGX. The whitepaper, titled Alpha Intelligence explored how investment funds are leveraging AI to drive alpha, improve operational efficiency, and redefine portfolio value creation.

Based on a 2024 Bain & Company survey of private equity firms representing over $3.2 trillion in assets under management, the report states that 93% of respondents anticipate moderate to substantial benefits from incorporating AI into their processes within three years, although just 2 % are expecting substantial returns this year.

Current AI usage in the industry remains in the augmentation phase and focused on enhancing existing processes rather than replacing them. However, the pace of AI adoption is accelerating, by deploying AI to automate deal-making, optimize portfolio management, and enhance decision-making processes.

Ahmed Yahia, Managing Director and CEO of MGX said noting the report, “More than any other technology in human history, AI will be pervasive across all aspects of our lives. It will enable greater and faster learning, innovation, technology breakthroughs, cheaper and faster production systems, unparalleled delivery of services. It will enable unprecedented prosperity. As an AI native investment company, we are leveraging AI in everything we do. Fusion with AI starts in MGX.”

Within three-to-five years, funds expect AI to unlock transformative capabilities, including real-time portfolio adjustments and unprecedented efficiencies in sourcing, diligence, and exit strategies.

Binance also adds in its comments to Lara on the Block, that the UAE has positioned itself as a global hub for innovation, particularly in crypto and blockchain. This investment aligns with the UAE’s strategy to foster technological advancement and regulatory clarity in digital assets. They add, “Binance, will likely play a pivotal role in driving adoption, innovation, and regulatory compliance in the region. The partnership reinforces the UAE’s ambition to lead in blockchain and AI driven financial ecosystems.”

Binance’s views on AI in crypto trading in 2025

Concurrently with the $2 billion investment from MGX, Binance published on its blog its views on how AI is revolutionizing multiple industries including crypto trading.

As the blog notes, in 2025, AI-driven trading bots, predictive analytics, and machine learning algorithms are reshaping the way traders analyze data, predict market trends, and execute trades. The blog looks into how AI is being used in crypto trading with AI powered trading Bots, and AI powered crypto projects to watch in 2025.

For example AI-based automated trading bots use machine learning to execute high-frequency trades with precision and speed. Platforms like 3Commas, Pionex, and Cryptohopper have gained popularity for their AI-driven trading algorithms that analyze market conditions in real time.

Additionally, AI can process massive amounts of historical price data to predict potential market movements. Sentiment analysis tools powered by AI also scan social media, news, and trading activity to determine market sentiment before price swings occur. An example: AI models analyzing Twitter & Reddit discussions to detect early crypto trends as well as how AI is being used to enhance risk management by identifying potential liquidation risks, stop-loss recommendations, and portfolio diversification strategies. AI-driven risk assessment helps traders minimize losses and maximize gains.

Binance also names what it calls the top Top AI-Powered Crypto Projects in 2025 such as Fetch.ai ($FET ) – Decentralized AI for automation, SingularityNET (AGIX) – AI marketplace for smart contracts, Ocean Protocol (OCEAN) – AI-driven data sharing network and Numerai ($NMR ) – AI-powered hedge fund model.

As for the future Binance believes that AI-powered trading is expected to grow even more in 2025, with advancements in AI-powered smart contracts for automated transactions, more sophisticated trading bots with deep learning capabilities and AI-enhanced decentralized exchanges (DEXs) for optimized liquidity.

So it would seem that MGX has invested in Binance at a time when AI is seen to be revolutionizing the future of crypto trading, and AI Crypto projects powering data sharing and hedge fund models.

Binance has already made investments in AI projects. Binance Labs, the venture capital and incubation arm of Binance, has already for invested in Sahara AI, a decentralized AI blockchain platform built for open and equitable AI. Sahara AI is building a collaborative AI economy that prioritizes the sovereignty and provenance of AI, ensuring security, equity, and accessibility for all.

It has also invested in MyShell a decentralized AI ecosystem designed to democratize the creation and distribution of AI applications.

Binance Headquarters in UAE? not yet…

Yet despite this huge investment, Binance has still not announced where it will put its headquarters. Binance tells Lara on the Block, ” We will not be disclosing any matters related to our HQ efforts. What we can say is that we have been engaged in a very thorough and comprehensive process as it relates to selecting the location of our headquarters, which has enormous implications with respect to how the company will operate going forward. We are focused on remaining disciplined and thoughtful as we explore our options.”

Crypto.com partners with UAE AI tech company

Crypto.com partners with UAE AI tech company

Crypto.com a global crypto exchange regulated in the UAE has partnered with an AI Blockchain tech firm in UAE called Tawasal Al Khaleej. Tawasal has developed a mobile messaging application that is currently being utilized by UAE governmental entities and other industries within the UAE.

As per the announcement Tawasal AlKhaleej will use crypto.com as their exclusive crypto partner of choice.

The integration has two stages, the first iteration of this deal will see Crypto.com’s platform referred by Tawasal Alkhaleej to its local and Middle East partners and collaborators strengthening Crypto.com’s position in the region.

There are also plans to integrate the crypto exchange platform into UAE’s leading Tawasal Superapp messanger offering access to Crypto.com’s products and services and the ability to trade crypto to nearly 4 million users.

“Our partnership with Tawasal opens up a world of possibilities for Crypto.com to integrate our industry-leading products and services into their impressive tech projects,” said Eric Anziani, President and COO of Crypto.com. “This partnership is an outstanding example of how the UAE tech ecosystem is thriving, and where the integration of digital assets products can benefit companies and consumers alike, giving simplified access to cryptocurrency which not only encourages adoption but also progresses the development of our industry.”

“Partnering with Crypto.com is about expansion, driving growth, and making the Crypto services even more attractive for UAE consumers” said Khamis AlShamsi, Chairman of Tawasal Alkhaleej.

Eric Leandri, CEO of Tawasal stated: “We’re eager to join forces with Crypto.com and seamlessly integrate their innovative products and services into our cutting-edge tech projects. By combining their services and digital assets with our blockchain technologies we’re reaffirming our commitment to delivering, safe, interactive, and easy to use digital experiences to our customers. In return, Tawasal SuperApp, is poised to provide Crypto.com with unparalleled visibility and expose their financial products to the local market, further expanding their reach and presence.”

This announcement comes less than a day after UAE MGX, also an investor in AI announced its $2 billion investment in Binance.