UAE headquartered Cypher Capital, a crypto investment firm, has participated in the $3.5 million seed funding round for Echelon, an innovative decentralized lending protocol. The seed round attracted additional support from strategic partners including Amber Group, Laser Digital, Saison Capital, Selini Capital, Interop Ventures, and Re7. 

As per the press release, this investment demonstrates Cypher Capital’s commitment to supporting advanced solutions in decentralized finance (DeFi) and blockchain technology. Echelon aims to enhance DeFi lending by improving capital efficiency, integrating with other DeFi applications, and providing innovative yield strategies on Move-based blockchains such as Movement and Aptos.

“Echelon has demonstrated that their project is truly driving innovation in the DeFi space,” said Harsh Agarwal, Investment Lead at Cypher Capital “Echelon’s focus on capital efficiency, user-friendly design, and its potential to integrate real-world assets makes it a standout in the evolving DeFi landscape. We are excited to support their efforts in developing high-performance lending markets.”

Echelon’s protocol features advanced functionalities including increased borrowing power on correlated assets, isolated pools for niche asset markets, and direct in-wallet integration for streamlined yield strategies. The platform is designed to target institutional-grade markets while ensuring affordable borrowing rates and innovative yield opportunities.

“This funding will help us build additional lending and risk management products, expand to new networks, and provide global access to dollar denominated yields,” said Glen Rose, cofounder of Echelon. “We’re excited to build core primitives on high performance Move-based chains.” 

With the new funding, Echelon plans to enhance its offerings by developing strategies backed by treasury and real-world assets (RWAs), implementing cross-chain deposit vaults, and expanding its team of full-stack and smart contract engineers.

Cardano Blockchain accelerator, 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.

Web3 Growth

According to the Adaverse report, Saudi Arabia is well positioned to witness growth in the Web3 ecosystem. One of the main reasons is that is it the largest market in GCC with a youthful and tech savvy population. Already 63% of its 36 million residents are under 30, and 99% of Saudi residents are connected to the internet.

In addition, the ambitious Vision 2030 initiative further strengthens this by fostering a robust tech and innovation ecosystem. Saudi Arabia has also seen growth in funding for startups and Web3 ventures.

In 2024, according to Digital Digest, MENA based startups secured $429 million across 163 deals, with Saudi startups receiving 515 of the funding across 36.2% of the deals.

The Web3 startup ecosystems has four layers, the use case layer, the tooling and developer layer, the infrastructure layer, and the protocol layer.

According to the Adaverse report, the notable concentration in the user-facing application layer, indicates growing Saudi consumer interest in DeFi, GameFi, and SocialFi. Meanwhile, the scarcity of foundational infrastructure and protocol startups, presents a unique opportunity for entrepreneurs and investors to fill crucial ecosystem gaps.

Web3 startups in KSA includes names such as Umrah Cash, Verofax, TakaDAO, Ticket Souq, Dropp, TGE, MRHB, IR4LAB, Mithu, Nuqta, and others.

For example, Oumla, is a blockchain infrastructure provider that offers secure custody solutions and comprehensive infrastructure services for governments and businesses alike. With a suite of SDKs, Oumla enables developers to seamlessly build on various blockchains without the need to master blockchain.

Mohammed Aljasser, Founder and CEO of Oumla noted in the report, “Oumla’s journey began in 2022, when we laid the foundation for an exceptional blockchain infrastructure. In 2023, we officially launched our product, receiving overwhelmingly positive feedback from our customers. Building on this momentum, we are now preparing to introduce additional blockchain networks, along with a range of new features and products designed specifically for the MENA region.

He adds, “Notably, Saudi Arabia is making significant strides in embracing blockchain, evidenced by the burgeoning emergence of applications and experimental initiatives. It’s clear that blockchain is more than just a passing trend; it represents a seismic shift in digital infrastructure.”

According to him dealing with regulations has been one of the biggest hurdles in the blockchain world. But despite these challenges, he is convinced that blockchain is here to stay.

Another startup, Tharawat Green Exchange (TGE) is a blockchain-powered marketplace connecting carbon off setters with tree planting projects to achieve sustainability goals. TGE transparently tracks tree planting and maintenance, aiming to plant 10 million trees by 2030. This enhances Saudi Arabia’s Trade for a Greener Tomorrow green economy and supports local nurseries, ensuring transparency and security.

Opportunities

As per the report, key opportunities in Saudi’s Web3 space include fintech, where DeFi solutions promise enhanced financial transparency and efficiency. Blockchain integration in supply chain management, real estate, and digital identities offers transformative potential.

In addition to fintech, the entertainment and gaming sectors are also ripe for growth, with blockchain-based platforms opening new avenues for engagement and monetization.

Saudi Arabia is the largest gaming market in MENA with the gaming sector value proposed to reach $6 billion by 2027. MENA region contributes already 15% of the global gaming population.

In KSA, it is estimated that there are 21 million active gamers, constituting a remarkable 58% of the country’s population [22]. This substantial player base provides a strong foundation for the industry’s expansion.

Recognizing the potential of the gaming industry, Saudi Arabia established a comprehensive National Gaming and Esports Strategy (NGES). Aligned with broader economic objectives, the NGES aims to create 39,000 job opportunities and contribute $12 billion to the economy by 2030 [23].

However, despite this dominance, the adoption of Web3 gaming progresses at a measured pace. As per the Adaverse report, this gap presents a prime opportunity for young Saudi founders to lead the development of blockchain-based games and integrate advanced technologies such as NFTs, AI, and play-to-earn mechanisms into the existing Web2 gaming market.

The same goes for the Saudi Fintech sector which has attracted substantial funding, totalling $552 between 2020 and 2021.

The report also notes that the country’s tech landscape is uniquely characterized by its focus on recreational

and entertainment-based Web3 projects, particularly in gaming, NFTs, and GameFi, positioning Saudi Arabia as a regional hub for these emerging sectors.

The Challenges

According to the Adaverse report, regulatory uncertainty, the need for greater awareness and education around Web3 technologies and concerns about technological infrastructure  and cybersecurity are key hurdles.

Future of Web3 in KSA

In conclusion the report recommends that for Saudi Arabia to fully realize its potential, it must address challenges, such as establishing regulatory clarity to create a stable business environment in the Web3 space.

Also, Saudi Arabia needs to overcome technical hurdles, such as improving user interfaces, which will be essential for enhancing adoption and user experience.

In conclusion, the report believes that by leveraging its favorable market conditions, government support, and growing investor interest, while addressing regulatory and technical challenges, the country can establish itself as a regional powerhouse in Web3 technologies. Nurturing local talent and fostering collaboration between stakeholders will be key to shaping the future of innovation and investment in Saudi Arabia’s Web3 sector.

UAE based AMINA Bank, previously know as SEBA crypto bank, regulated in Abu Dhabi ADGM, has published an interesting article on Ethereum, and ETH being designated as a security. According to AMINA Bank, the question on the minds of Ethereum investors is whether or not Ether is a security given the pending US decision on spot Ether ETFs ( Exchange Traded Funds).

As per the article on one hand, the US Commodity Futures Trading Commission (CFTC) has defined ETH, along with several other cryptocurrencies, as commodities. Conversely, US Securities and Exchange Commission Chair Gary Gensler has refrained from providing a clear stance. This was further amplified during his Congressional hearing in April 2023, he repeatedly avoided giving a definite answer. Even recently, he did the same in an interview – refused to give a clear answer to the question. This lack of clarity has left the crypto community uncertain about the possibility of a shift for the cryptocurrency from its current legal ambiguity.

Concerns escalated when the Ethereum Foundation recently disclosed being subpoenaed by an unnamed “state authority,” suspected by many to be the SEC, although Fortune claimed it was the US SEC, unconfirmed by the SEC itself. Although there were bigger factors in play, this regulatory uncertainty has partly contributed to the abysmal performance of ETH relative to BTC since the start of 2023.

To confront the SEC and address ETH’s legal standing, Ethereum software development firm Consensys has filed a lawsuit recently. The lawsuit says that the SEC lacks jurisdiction to regulate global, peer-to-peer computer networks and this includes Ethereum.

Consensys argues that the SEC’s extensive reach into commodities, software, and emerging technology platforms is illegal. According to the lawsuit, if the SEC’s influence prevails, it could nullify efforts by Congress, the Federal Reserve, and the Treasury on stablecoins, undermining established US policy priorities and granting technological superiority to nations beyond the US.

AMINA Bank believes that it currently seems unlikely that ETH will be declared a security. However, for investors, it is important to understand the implications if it were to go the other way, so let’s dive in. To state the obvious, if ETH were indeed designated as a security, it would pose significant risks to the entire crypto and decentralized finance (DeFi) ecosystem. ETH currently is the backbone of DeFi, being extensively integrated within it. It functions as the native gas token for the Ethereum blockchain and its scaling solutions.

It serves as widely accepted collateral in DeFi and boasts of the largest developer community in the crypto space. Once a security, all infrastructure that lets users use ETH could be seen as unregistered securities brokers. Exchanges seeking to list Ether would need to register as securities broker-dealers with the SEC. Most teams in crypto may exit the space if subjected to such operational complexity.

Another possible implication is that protocols may start prefering Proof-of-Work (PoW) consensus. In a Proof-of-Stake (PoS) system, entities with larger token holdings have a greater chance of validating the next Ethereum block and receiving block rewards for the same in ETH.

Gensler has suggested that such PoS chains, rewarding users for locking up their coins, resemble investment contracts and could be deemed securities, without specifically mentioning ETH. Given that most major blockchains, apart from PoW Bitcoin, work on PoS like Ethereum, regulators might extend similar classifications to them.

Additionally, non-ETH tokens hosted on the Ethereum blockchain could also face repercussions due to being so closely integrated with a supposed security (ETH). This is why new blockchains may want to then go back to the PoW consensus mechanism to avoid regulatory scrutiny.

It’s fair to say that this would not only put a hold on but potentially even reverse years of progress across the cryptocurrency market. This is a doomsday scenario for cryptocurrency investors which currently is unlikely to happen.

The argument against ETH being classified as a security revolves around the nature of ETH tokens themselves. Unlike stocks or bonds, ETH tokens do not represent legal ownership of any business entity. They are essentially code stored in a decentralized database. When considering whether ETH qualifies as a security, the crucial question is whether the offer and sale of ETH tokens constitute an investment contract under the Howey test.

The Howey Test is used in the US to determine whether certain transactions qualify as investment contracts. Under the Howey Test, a transaction is an investment contract if:

It is an investment of money.

The investment of money is in a common enterprise.

There is an expectation of profits from the investment.

Profits come from the efforts of some particular others.

At the time of Ethereum’s ICO in 2014, when the community was smaller, ETH may have met the criteria of the Howey test. This is because participants likely invested money expecting profits based on the efforts of a few select others like founder Vitalik Buterin and some core developers.

There was also an expectation of profit for ICO investors. It could have also been considered a “common enterprise” due to the founding team being the only members of the Ethereum community at the time of ICO. However, the SEC did not act then.

Today, several factors suggest that ETH does not meet the Howey test criteria the way it is right now. Firstly, with the rise of DeFi, ETH serves as more than just an investment – it also has utility in paying gas fees for transactions onchain.

Additionally, Ethereum has become increasingly decentralized with a diverse developer community (over 7000 monthly active developers throughout 2023) and network success no longer dependent solely on the efforts of specific individuals like the Ethereum Foundation. From a security standpoint, there is no single gatekeeper. The total number of active validators for Ethereum has exceeded the 1 million mark, according to data from Glassnode.


Many were concerned as liquid staking provider Lido Finance neared the 33% threshold mark in percentage of ETH staked. However, this is now down to 28% at the time of writing. Also, Lido is not a single entity and currently has over 30 node operators.

But does Proof-of-Stake make ETH a security as Gensler believes? In PoS, running a validator node on the Ethereum network is considered a service, not an investment scheme. This is because rewards are contingent on honest behavior during validation.

Dishonest actors may face slashing of their stake. However, staking services provided by centralized platforms like Coinbase or Kraken may blur the line, potentially exposing providers to legal action. Nonetheless, this does not affect ETH’s classification.

As obvious as it may sound, another reason why ETH may not be classified as a security is because it currently is not so. CFTC has allowed ETH futures trading and has explicitly stated ETH as a commodity. This reinforces the argument against ETH being classified as a security. The SEC’s approval of ETH futures ETFs for trading on regulated security exchanges also underscores ETH’s non-security status and falls outside the SEC’s jurisdiction.

AMINA Bank article concludes that it seems that the US SEC is refusing to take a clear stance on this matter in order to confine ETH within a grey area, thereby allowing it to delay the decision on the applications of the US spot Ether ETFs filed by financial behemoths like BlackRock, Fidelity, Greyscale and others.

A complete list of Ether ETFs can be found here. Regardless of the SEC’s eventual decision on ETH’s security status, we hope it positively contributes to the future of crypto and finance.

WadzPay, a fintech blockchain based technology for virtual asset payment solutions, has announced its entrance into the Stablecoin business. According to the press release, this will shift Wadzpay’s strategy from one of being a virtual asset payments company to a blockchain financial services solutions provider. The new solutions will be organized as a new business and new brand. To ensure regulatory compliance, WadzPay will set up a new entity and will pursue approvals in UAE, Hong Kong, and Singapore.

WadzPay recently was granted a license for crypto brokerage by Dubai’s virtual asset regulatory authority, pending finalizing some requirements.

The decision to venture into the Stablecoin market comes as a response to the increasing demand for secure, transparent, and efficient digital payment solutions worldwide. WadzPay will introduce two main products: Stable Coin as a Service and its own regulated USD$ Stablecoin, designed for local and international payments, cross border remittances, and settlements of on-chain transactions related to RWA.

According to recent market research by Bernstein, the global market for stablecoins is projected to grow from $125 billion to almost $3 trillion in next 5 years. This growth is fueled by factors such as the rise of decentralized finance (DeFi) applications, cross-border remittances, and the need for stable digital assets to mitigate volatility risks in cryptocurrency markets.

By leveraging blockchain technology, WadzPay aims to provide users with a reliable alternative to traditional fiat currencies, offering stability, convenience, and speed at lower cost in transactions for merchants, businesses and individuals worldwide. With a focus on compliance and regulations, WadzPay is poised to address the growing demand for stablecoins while ensuring security and regulatory compliance in its operations. Apart from the traditional use cases, WadzPay will add some new and innovative uses of stablecoins to the mix.

With this strategic move, WadzPay aims to innovate in solving foreign exchange problems and will introduce an innovative first-in-market business model, setting itself apart from competitors. WadzPay will build a world class team under the new leadership to drive this business.

Founder & Group CEO of WadzPay, Mr. Anish Jain, emphasized the strategic significance of this expansion, stating, “Our entry into the stablecoin business reflects our dedication to meeting the evolving needs of our customers and staying at the forefront of technological innovation. With the growing adoption of virtual assets, particularly stablecoins, we see tremendous potential for growth and are excited to offer our expertise in this space, while remaining committed to compliance and regulations.”

Leading the initiative is Mr. Jason Sarria-Solis as the President – Emerging & New Business in charge of the stablecoin business. With over 20 years of experience in the technology and fintech industry, Mr. Jason brings a wealth of knowledge and a proven track record of driving business growth and innovation. He has led multiple projects spanning from founding and scaling a successful telecom startup in the UK to leading digital banking, embedded finance, and blockchain projects in Asia.

Commenting on his appointment, Mr. Jason Sarria-Solis expressed his enthusiasm, stating, “I am thrilled to join WadzPay at such a pivotal moment in the company’s journey. The stablecoin market presents immense opportunities for disruption and advancement in the payments, remittance, and on-chain settlement space, and I look forward to leading our team in delivering innovative solutions that meet the needs of our users and drive the company’s growth.”

WadzPay remains committed to its mission of revolutionizing the virtual asset financial services landscape with blockchain technology, and the expansion into the stablecoin business marks a significant milestone in this journey. With a focus on technological excellence, customer satisfaction, and strategic partnerships, the company is poised to emerge as a key player in the financial services ecosystem.

Varys Capital (“Varys”) has partnered with FundRock Investment Management Services (ME) Ltd (“FundRock”), a fund management company, licensed by the FSRA, to manage a feeder fund, that will invest its assets into a Master Fund with a mandate centered around blockchain, Web3 and infrastructure. The entity is named the Varys Capital Ventures (CEIC) Limited in the Abu Dhabi Global Market (ADGM).

The feeder fund will invest its assets into a Master Fund (“Fund”), which was initially established as an early-stage, equity-focused venture fund with a mandate centered around blockchain innovation, Web3, and infrastructure. The Fund has identified commitments across DeFi, GameFi/Web3, Infrastructure, and Emerging Technologies, all centered around blockchain.

Varys will invest in multiple domestic companies and has entered the UAE because of the local government’s supportive directives, the country’s high level of innovation, robust local infrastructure, and forward-thinking minds. Since securing initial investment from prominent family offices, institutions, and high-net-worth investors, Varys has actively closed the gap on its $75m round.

The feeder fund’s appointed investment manager, legal counsel, fund administrator, and auditor are FundRock, Al Tamimi, Apex Fund Services (AD) Limited, and Crowe Mak LLP, respectively.

Darius Askaripour, Director of Varys Capital, said, “Due to the government’s leadership and vision, ADGM has created limitless opportunities and attracted the most brilliant and talented minds in the digital asset space. As a unique venture fund with the capacity to quantitatively execute deals, we are honoured to be a significant contributing entity in the region. We have immediate plans for deployment, adding to our high-performing portfolio and reinforcing the global appeal of the United Arab Emirates as the nation continues to expand the wide use cases of blockchain technology.”

Matthew Pykstra from FundRock, said “We are thrilled to have partnered with Varys Capital on this feeder fund and are enthusiastic about the diverse offering that the fund brings to the region”

Arvind Ramamurthy, Chief of Market Development at ADGM, added “We congratulate Varys and FundRock on joining hands to manage a feeder fund, here in the ‘Capital of Capital’ – Abu Dhabi. This initiative aligns with ADGM’s growth strategies for the digital assets space, focusing on progressive regulations and initiatives encompassing DeFi, Blockchain, and other related sub-clusters.

ADGM’s vibrant community includes a range of domestic companies in the new-age finance sector, and we look forward to this fund strategically bridging the investment gap for these companies that will foster significant growth within the sector and enhance overall industry development.”

NEOPIN Permissioned DeFi platform based in Abu Dhabi UAE, which launched the first DeFi product for the Klaytn-Finischia ecosystem, has announced a new RWA ( Real World Assets), platform that will position the protocol to become a global leading Real World Asset (RWA) DeFi protocol. The platform will combine the rich liquidity of traditional finance with blockchain technology, creating global marketability with high levels of security and regulatory compliance.

Prior to this UAE based Finschia Foundation, which works to expand public blockchain and Web3 technologies, and NEOPIN, partnered to provide decentralized exchange services.

The key objectives of the new RWA platform include the development of a dedicated RWA platform based on the order book, the expansion of innovative RWA product offerings, and the expansion of the RWA multi-chain strategy.

NEOPIN’s RWA platform is being developed as an all-in-one platform that can meet the diverse needs of institutions, users and the industry. It will provide a more intuitive and simplified solution for institutional participants to engage with RWA technology and markets without the need for a complex review process. It will also be designed with a decentralized order book to make it easy to use for global users familiar with equity or crypto exchanges.

In terms of product offerings, RWA will continue to expand its innovative product suite, with more than five RWA products in the pipeline with institutional partners that are poised to make a significant impact in the DeFi and physical markets. In parallel, we are also working on a strategy to expand the RWA issuance chain, continuing the multi-chain strategy that has underpinned the success of NEOPIN’s DeFi on a dedicated RWA platform.

In March, NEOPIN launched the platform’s first RWA-linked DeFi product and entered the $5.7 billion global RWA market in earnest. With the success of its recently launched RWA derivative products, NEOPIN’s consolidated total value locked (TVL) has exceeded USD 200 million.

“NEOPIN’s RWA platform aims to attract global institutional partners and users and then position itself as an essential infrastructure for institutions,” said Ethan Kim, CEO of NEOPIN. “With our new platform, innovative product suite and institutional acquisition, we will grow into the top tier of global RWA within two years.”

Since 2017, NEOPIN has been building its blockchain expertise and technology by participating as a node validator operator for various global blockchains, including Ethereum, Tron, Cardano, Cosmos, Klaytn, and Finschia. Last year, the company was selected as an innovative company by the Abu Dhabi Investment Office (ADIO) in the United Arab Emirates (UAE) in recognition of its regulatory compliance and expertise, becoming the first Korean blockchain company to receive direct and indirect investment, and is working with the Abu Dhabi Global Market (ADGM), a financial special zone in the UAE, to create the world’s first DeFi regulation in a public-private partnership. 

Valour, issuer of exchange trade products (ETP) simplifying the access to digital assets, and a subsidiary of DeFi Technologies Inc, a financial technology company that bridges the gap between traditional capital markets, Web3 and decentralized finance, has opened a trading desk in the UAE.

Valour issues exchange traded products (“ETPs”) that enable retail and institutional investors to access digital assets like Bitcoin in a simple and secure way via their traditional bank account

According to the press release, this initiative marks a significant stride in the Company’s mission to enhance global accessibility to regulated digital assets and underscores its commitment to global growth through Valour and Valour Digital Securities Limited’s exchange-traded products (“ETPs”).

This expansion into the Middle East is a key element of Valour’s strategy to increase its product offerings and global footprint. The UAE was specifically chosen for its progressive regulatory environment, high cryptocurrency adoption rate—where an estimated 27% of the population engages in crypto ownership — and its embrace of blockchain technology across multiple sectors. These factors make it an ideal location for fostering growth and extending Valour’s reach into new markets.

As part of this strategic initiative, Valour aims to expand its assets under management (“AUM”) by launching 15 new ETP products in 2024, in addition to the 17 already listed in Europe, followed by another 30 in 2025. This ambitious expansion plan capitalizes on the growth potential of the digital asset ecosystem, demonstrating Valour’s commitment to innovation and its leading role in the digital asset market.

Olivier Roussy Newton, CEO of DeFi Technologies, commented, “The launch of our trading desk in the UAE signifies a pivotal moment for both Valour and DeFi Technologies as we expand our global outreach. This is more than just entering a new market; it’s about integrating into a dynamic and evolving financial landscape that the Middle East represents. We are excited to embark on this journey, leveraging the UAE as a gateway to broader horizons and setting the stage for growth and opportunity.”

The establishment of a trading desk in the UAE represents the first phase of Valour’s plans for geographical expansion.  Valour is ideally positioned to leverage the increasing global demand for regulated and trusted access to digital assets and the rapidly expanding Web 3 ecosystem.

With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance.

Stc Bahrain, the Saudi Telecom subsidiary in Bahrain, has once again showcased how the telecom industry can embrace Blockchain,Web3 and now DeFi with stc Bahrain operating nodes on Core Chain Bitcoin Layer 1 blockchain. Stc Bahrain has partnered with Core Chain DAO as part of its Web3 launchpad initiative.

As part of stc Pearling Path Partnership Program, a Web3 launchpad in MENA, stc Bahrain will deploy and operate nodes on the Core Chain network, bolstering its resilience as a key infrastructure provider in the Gulf.

As per the press release, this initiative underscores stc Bahrain’s commitment to digital transformation and Core’s mission to promote global blockchain adoption.

“By incorporating Core Chain into our Pearling Path initiative, we’re not just adopting a blockchain protocol; we’re laying the groundwork for scalable innovation for the future. This is a significant step towards building a cohesive Web3 ecosystem in the Gulf,” said Mr. Saad Odeh , Chief Wholesale Officer at stc Bahrain.

Core Chain’s commitment to privacy, scalability, and its Satoshi Plus consensus mechanism align with stc Bahrain’s vision to foster economic growth in the region. By integrating the strengths of Proof of Work (PoW) and Delegated Proof of Stake (DPoS), Core Chain is able to create a blockchain environment that is not only secure and decentralized but also highly scalable to meet the evolving demands of the digital landscape.

Recently Core Chain launched Core Ignition is a carefully designed six-month incentive program launched on March 11, 2024, aimed at rewarding the Core community for their contributions to the network.

As per their announcement, the world of Decentralized Finance (DeFi) is constantly evolving, and the concept of BTCfi (Bitcoin DeFi) is at the forefront of this innovation.

In March 2024 Stc Bahrain, announced that it will be offering Web3 infrastructure services using blockchain in partnership with LionsCraft for the Bahrain market. Lionscraft provides cutting-edge technology and business consulting in the thriving Web3 space.

In 2022 stc Bahrain also became the first telecom operator in Bahrain to accept cryptocurrencies through its partnership with Eazy Financial Services, a leading Bahraini Payment Services provider specializing in POS and online payment gateway. EazyPay uses BinancePay and wallet to offer this service to more than 5000 POS terminals in Bahrain.

UAE Financial centre, ADGM (Abu Dhabi Global Markets) has announced that it will be holding the Abu Dhabi Blockchain Funds Forum on April 16th at ADGM.

The Forum will gather investors to discuss and explore opportunities in the digital finance and Blockchain landscape.

Speakers will also discuss the potential of Web3 with expert panels on investment opportunities in blockchain technology.

As per the agenda, speakers will include Alex Lipton from ADIA, John D’Agostino from Coinbase, Valerie Hawley from True Global ventures, as well as speakers from SuperScrypt, BH Digital, First Abu Dhabi Bank, Galaxy Digital, Further Ventures, CoinFund and more.

Also on the table is a discussion about the future of DeFi (Decentralized Finance).

ADGM has been at the forefront of virtual asset and DLT regulation. It has also welcomed players such as IoTa, Solana, and others to its financial centre. In addition, the first national crypto exchange M2 was launched recently from ADGM.

The UAE has become a magnet for crypto, digital assets and blockchain startups and companies given its work to advance virtual asset and blockchain regulations.

Blockchain and Web3 Company, Sastanaqqam, has relocated its headquarters to Dubai UAE. It will be present at the One Central district in Dubai at the end of March.

One Central has become a pivotal hub for cryptocurrency enterprises, known for its state-of-the-art facility and a business-friendly regulatory environment. This district houses notable crypto entities like Bybit’s global headquarters and the, a hub for cryptographic and blockchain technologies.

Sastanaqqam’s relocation to One Central reflects its alignment with Dubai’s vision as a leader in technological advancement and financial innovation. “Our move to One Central isn’t just a relocation; it’s a strategic decision to integrate with a community at the forefront of blockchain and digital currencies,” said Azzi Mohamed Mbarek, COO of Sastanaqqam.

The decision to establish a base in One Central, alongside pioneering crypto platforms such as Deribit, underscores Sastanaqqam’s ambion to be at the forefront of the crypto revolution. Dubai’s One Central offers an environment ripe for collaboration, innovation, and growth, making it an ideal location for Sastanaqqam’s expansion.

In anticipation of this significant move, Sastanaqqam is ramping up its recruitment efforts, aiming to attract top talent in blockchain and fintech. The new office in One Central will be equipped with the latest technology and designed to foster innovation and collaboration.

Local businesses and the community in One Central are excited about Sastanaqqam’s arrival. “Sastanaqqam’s addion to One Central is not just a boost to our local economy; it also reinforces our status as a leading tech and financial hub,” shared One central business development team.

Established in 2021, Sastanaqqam is a company specializing in blockchain and Web 3.0 technologies, with a focus on integrating art, gaming, and DeFi to create a comprehensive digital ecosystem.