AIFT, and Dubai Insurance, the creators of OneInfinity, the first regulated Web3 and digital asset insurance entity in UAE and Middle East, has received further investments from its partner Dubai Insurance Company and has appointed both Obaid Buti Almulla of Dubai Insurance to its board of directors as well as Tony Chan, the former President of King Abdullah University of Science and Technology in Saudi Arabia, who has joined AIFT’s International Advisory Board.
AIFT and Dubai Insurance have successfully developed OneInfinity, the leading web3 insurance brand, in the Middle East since first joining forces in December 2023. After an initial investment at that time, OneInfinity became the only web3 insurance product to be approved by the Central Bank of the United Arab Emirates.
As per the press release, the partners have now taken their engagement to the next level with a further investment and the appointment of Obaid Buti Almulla to AIFT’s board of directors. The additional funds are being used to expand AIFT’s presence in the Middle East with several new hires already onboard and key executives having relocated to the region.
AIFT’s Middle East strategy will benefit greatly from the expertise and experience of Professor Tony Chan who has joined AIFT’s International Advisory Board. Professor Chan, an expert in computational mathematics and one of the most cited mathematicians in the world, has recently completed 6 years as the President of King Abdullah University of Science and Technology in Saudi Arabia. Among many other positions in the country, Professor Chan served on the Saudi Data and AI Supervisory National Strategy Committee. His insights on AI and digital strategy in the Middle East will be invaluable as AIFT introduces its innovative AI cybersecurity products to the region.
Alvin Kwock, CEO and Co-Founder of AIFT, and Robin Scott, General Manager of Middle East and General Counsel of AIFT, welcomed the two appointments. Alvin said, “It is a great honour for us that AIFT’s progress in the Middle East has been recognised with the support of leading figures in the region such as Obaid and Professor Chan, not to mention the continued financial backing of Dubai Insurance.” Robin added, “When we established our Middle East taskforce in 2023, we identified the region as an essential player globally in AIFT’s focus areas, the mega trends of AI and web3. It is heartening that our market entry has so quickly borne fruit and we look forward to many more successes in the region.”
Obaid Buti Almulla of Dubai Insurance said, “Our partnership with AIFT affirms Dubai Insurance’s commitment to innovation. Obtaining the first and only Central Bank of UAE approval for web3 insurance was a key milestone for us. I look forward to becoming even more involved in AIFT’s mission as a director.”
Professor Tony Chan said, “The Middle East is taking a leading global role in innovation spearheaded by extensive investment and focus on AI. AIFT’s market-leading products and highly experienced team are ideally suited to support the growing high-tech ecosystems in the region, especially the major markets of Saudi Arabia and UAE. I am excited to be part of the journey”.
In the global race to harness computing power, energy has emerged as the defining factor. Nations and organizations alike are accelerating energy infrastructure development to meet the surging demand fueled by data-driven economies. Yet, the path to this energy transformation is fraught with complexities—from securing resources to deploying infrastructure, and finally, commercializing compute capacities for applications such as bitcoin mining and AI workloads. In this context, energy is not just the enabler but the ultimate determinant of success. This is why UAE’s XRG (xrg.com) could be a global game changer.
The Decentralization Dilemma
Can we achieve truly decentralized, sovereign digital economies with global reach when the game is so heavily reliant on power? While the technology exists to enable such an ambitious vision, the question remains whether capital can be directed toward achieving it at scale. With an estimated $1 trillion expected to be invested in energy innovation, there’s an opportunity to build global distributed energy infrastructure using modular and remote compute technologies.
By focusing on underdeveloped and marginalized regions, private capital can drive global connectivity while bypassing the bureaucratic barriers that often stifle innovation. This could foster wealth creation in areas historically disadvantaged by geopolitical agendas.
The UAE’s Digital Energy Vision
A shining example of forward-thinking energy strategy is the United Arab Emirates (UAE). Despite global economic turbulence, the UAE has proven its resilience, emerging stronger post-COVID and in the midst of regional turmoil in surrounding countries, taking a leadership position in the regional virtual asset ecosystem. From Web3 advancements to Bitcoin mining, and now AI, the UAE has embraced technology to fuel economic growth.
However, rapid technological progress also brings challenges—particularly the rising energy consumption associated with AI and deep tech. Addressing this requires bold and forward-looking investments. Enter XRG , a revolutionary international energy investment company launched by Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar.
Global Energy Demand in the AI Era
As Dr. Al Jaber highlighted, global energy demand is set to rise dramatically, increasing from 9,000 GW to 15,000 GW by 2035 and potentially reaching 35,000 GW by 2050—a staggering 250% increase. The rise of AI applications like ChatGPT, which consumes ten times the energy of a single Google search, is accelerating this trajectory.
Without diversified energy solutions, meeting this demand sustainably will be nearly impossible. XRG addresses this by optimizing energy production and usage across the spectrum—from traditional fuels to low-carbon alternatives and advanced infrastructure.
The essence of this challenge lies in the economic implications of insufficient energy infrastructure to power AI deployments. Nations that fail to establish sovereign compute capabilities could face economic stagnation. In the next five years, such nations may struggle to compete globally, reinforcing the urgency of energy-centric national policies.
The following graphs illustrate electricity demand from data centers, artificial intelligence, and digital asset mining worldwide in 2022, with a forecast for 2026, by scenario.
XRG: A Blueprint for the Future
XRG’s innovative structure embodies efficiency and adaptability. Dr. Al Jaber’s vision is rooted in maximizing every energy unit, spark, and joule—a philosophy that aligns with PermianChain’s mantra of “creating wealth from every watt.” By investing in diverse energy technologies, XRG offers a scalable model for nations to secure economic prosperity in the digital age.
At PermianChain, similar principles drive our efforts. Through our global digital energy market, we’ve aggregated over 500 MW of distributed alternative energy projects to serve underserved markets. This approach exemplifies how modern energy investments can transform underdeveloped regions by accelerating digital transformation and fostering exponential growth.
The Role of Innovation in Efficiency
Innovation is not just about finding new energy sources but about optimizing existing systems. For instance, NEXGEN, one of our companies, aligns closely with EXERGY’s strategy by adopting cutting-edge technologies to maximize energy efficiency. As global energy demand rises, such approaches will be critical, particularly in energy-intensive sectors like AI computing.
Equity in Energy Access
Equity in energy access is essential for global progress. With over 1.7 billion people living off-grid or without reliable utility connectivity, vast populations are excluded from the potential of digital economies. Distributed energy solutions offer a pathway to bridge this gap, enabling marginalized communities to participate in and benefit from the global digital revolution.
The Path Forward
By embracing a diversified and efficiency-driven approach will require collaboration, innovation, and a relentless commitment to sustainability from industry stakeholders and global public and private capital markets.
As Dr. Al Jaber rightly emphasized, reliance on a single energy source is not a viable solution. Instead, a comprehensive strategy combining traditional and emerging technologies is imperative. Only by taking this holistic approach can we meet the demands of an increasingly interconnected and data-driven world while preserving the planet for future generations.
Conclusion
The launch of XRG is more than an investment in energy; it’s an investment in the future. By championing distributed, efficient, and inclusive energy systems, the UAE is leading the charge in creating a sustainable digital economy. As nations navigate the complexities of energy transformation, the new digital energy frontier offers a powerful blueprint for aligning innovation with equity and sustainability.
In a world where energy is the key to unlocking economic growth, it’s time for global leaders to prioritize bold and forward-thinking strategies. Only then can we truly harness the potential of the digital age while ensuring prosperity for all.
Written by Mohamed El Masri, Founder of PermianChain and originally published in his blog.
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Further Ventures, a private equity fund in Abu Dhabi UAE, has led a $16 million investment Series A round in French digital asset wallet and custodian developer, DFNS, DFNS, which was launched in 2020, and has operations both in Paris and New York aims to compete against FireBlocks and Ledger.
Using the funds raised both in 2022, $12 million and that raises now $16 million, the startup plans to accelerate its development to meet requirements of financial institutions.
This deal was led by Further Ventures, which is a private equity fund based in Abu Dhabi. Other historical investors, such as White Star Capital, Hashed, Semantic, Techstars and Bpifrance also participated in the round.
“This deal validates both our product and our focus on fintechs and financial players,” explains Clarisse Hagège, co-founder and CEO of DFNS, which claims more than 130 customers including Fidelity, Zodia Custody (Standard Chartered’s crypto subsidiary) and Stripe, which has just acquired Bridge.
DFNS developed a wallet creation solution based on MPC (Multi-Party Computation) technology. This MPC technology breaks down the access keys to the digital wallet into fragments; these are then distributed across different secure universes. Using an API system, the startup allows developers to take bricks and create their own wallet system.
“We allow our customers to deploy their own instances on public clouds like AWS, private clouds, and connect their Thales or IBM HSMs to our blockchain transaction management system,” explains Clarisse Hagège
Als in terms of pricing , while not all offers are the same, the startup offers a billing system based on usage and not on volumes under management.
UAE Future Ventures has already invested in several digital asset service providers including Soter Insure, a provider of insurance products tailored to the digital asset economy licensed by VARA in the UAE, as well as QCP, a global digital asset trading firm, Fuze, a digital assets infrastructure provider, TwinStake, Tungsten, Kemet trading, and others.
Abu Dhabi licensed, global digital asset banking group Sygnum has raised a total of $58 million in its oversubscribed Strategic Growth Round, giving it a post-money valuation of more than 1 billion.
Fulgur Ventures, cornerstone investor in the final close of Sygnum’s Strategic Growth Round, is a venture capital firm focusing on Bitcoin technologies, infrastructure and applications that drive Bitcoin adoption. Fulgur is joined by new and existing strategic and financial investors, as well as Sygnum team members again participating on equal terms. The Co-Founders, board and team members continue to hold Sygnum majority ownership.
Funds will support expansion
Proceeds from the completed Strategic Growth Round will be put to work to drive Sygnum’s 2025 expanded EU/EEA market entry and to launch its regulated presence in Hong Kong. Sygnum also intends to use the funds to broaden its institutional infrastructure, expand its product portfolio with a focus on Bitcoin-technology, and enable opportunities for strategic acquisitions as the market develops.
A key driver of the oversubscribed Strategic Growth Round was the bank’s multi-year core business growth. 2024 revenues for all trading products, including crypto spot, derivatives, FX and traditional securities, surpassed the previous year’s total in Q3 for the second year running. Total annual trades in 2024 increased by more than 1,000% YoY, propelled by PostFinance and the 20+ banks on its B2B platform providing regulated crypto services to more than a third of the Swiss population.
Mathias Imbach, Sygnum Co-Founder and Group CEO, noted, “Sygnum reaching Unicorn status is a strong validation by the market of our business model, strategy and team. While it is an achievement we are very proud of, it won’t alter the values of integrity and humility, and the importance of displaying confidence without attitude at all times, which have acted as our true-north since day one. As Switzerland is currently losing ground to other jurisdictions as a preferred digital asset hub, it is also our obligation to highlight the need for Switzerland to not ignore the importance of continuous innovation in the financial sector and to continue to attract talent and capital to remain relevant in the long-term. In that way, our mission is only at the very beginning.”
Gerald Goh, Co-Founder and CEO APAC, said, “The successful completion of our Strategic Growth Round is proof of Sygnum’s strong and unique position as a leading regulated financial institution in the global digital asset industry. Offering trusted institutional infrastructure and regulated services for digital assets will continue to be the foundation for Sygnum’s future growth strategy.”
Oleg Mikhalsky, Partner of Fulgur Ventures, added, “Fulgur is a venture capital firm that continues to drive investment into the accelerating convergence of Bitcoin and institutional financial markets. Sygnum’s market-tested infrastructure, digital asset-native team and global ecosystem makes them the ideal partner to co-develop innovative Bitcoin-related financial products and technologies – as well as for future collaborations with other Fulgur portfolio companies. We are proud to be the cornerstone investor for the final close of Sygnum’s Strategic Growth Round, which coincides with a potential inflection point for Bitcoin’s institutional adoption and regulatory clarity.”
In FY 2024, Sygnum achieved operational profitability and continued to grow its 2,000-strong institutional client base domiciled in over 70 countries, serviced through its regulated operations in Switzerland, Singapore and Abu Dhabi. The group is also regulated in the established global financial hubs of Luxembourg and was recently registered Liechtenstein.
QFC ( Qatar Financial Center) has played an instrumental role in the recent collaboration and partnership of two DLT entities, The Hashgraph Group, a Swiss-based international business, venture capital and technology company, and SettleMint a blockchain transformation company. The partnership seeks to accelerate the impact of DLT ( Distributed Ledger Technologies) and digital assets across several industries.
As per QFC press release this partnerships aims to make DLT more accessible for organisations worldwide and drive their adoption on a global scale. In September 2024, the Lab launched its inaugural cohort, comprising 29 innovators, with the goal of providing them with a comprehensive ecosystem to develop, test, and commercialise cutting-edge solutions addressing industry needs and challenges through digital assets and distributed ledger technologies.
The Lab was established to foster collaboration among start-ups, businesses, and researchers to develop innovative solutions, products, and services in digital assets and distributed ledger technologies. The partnership between SettleMint and THA marks a milestone for the Lab, highlighting its potential to shape the industry and contribute significantly to the Qatari market.
Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, commented on the partnership stating, “This partnership between SettleMint and The Hashgraph Group is a testament to the QFC Digital Assets Lab’s success in fostering collaboration and driving innovation. By facilitating partnerships like this, the Lab strengthens Qatar’s position as a leader in emerging technologies while contributing to a more dynamic and diversified economy.”
Kamal Youssefi, President, The Hashgraph Association (THA), added, “The cornerstone of our strategy at THA is strategic partnerships. Our ultimate aim is to empower a thriving community and build up a vibrant Web3 ecosystem that leverages Hedera platform capabilities. We are excited to partner with innovative organisations to co-create value and contribute towards building an empowered digital future. THA strongly believes in QFC’s vision, and it is strategy to institutionalise Digital Assets and establish Qatar as a leading regional hub for innovative web3 solutions covering Asset Tokenization, Digital Assets, DeFi and Onchain Finance, and we look forward to working with SettleMint and other ecosystem partners to contribute towards Qatar’s 2030 Digital strategic goals.”
Stefan Deiss, Founder and CEO of The Hashgraph Group, noted, “We’re thrilled to be both investing in and partnering with SettleMint as we work to integrate Hedera-powered applications for enterprises and organizations in Qatar and globally. The future of Web3 solutions will include the tokenization of Real-World Assets, and the combined forces of Hedera’s energy-efficient DLT platform with SettleMint and the futuristic ecosystem at QFC’s Digital Assets Lab will empower enterprises and governments towards a digital economy.
Matthew Van Niekerk, Chief Executive Officer, SettleMint, commented, “The QFC Digital Assets Lab is building a powerful ecosystem that fosters meaningful partnerships, lasting collaborations, and the next generation of digital asset solutions in the region and beyond. This investment and strategic partnership highlight the Lab’s effectiveness in bringing together industry-leading companies to drive impactful outcomes.”
Fuze, a digital assets infrastructure provider in MENA, and Fils, an enterprise-grade digital infrastructure platform dedicated to embedding sustainability into every transaction, have partnered to launch the first-of-its-kind sustainable digital asset solution in the Middle East, Africa, and Turkey.
This collaboration will integrate blockchain-powered solutions through Fils’ use of the Layer-1 blockchain, ensuring transparency, traceability, and trust in every transaction, creating a seamless way for customers to measure and offset the carbon footprint of their digital asset purchases, supporting regional institutions and fintechs in meeting sustainability goals while navigating the growing demand for digital assets, and to lead in sustainability by aligning with global ESG goals.
The importance of this initiative is also underscored by the UAE’s rapidly growing digital assets market, which is projected to generate $453 million in revenue by the end of 2024, with further growth expected to surpass $616 million by 2028.
Nameer Khan, Founder and CEO of Fils, commented, “Our partnership with Fuze represents a milestone for both fintech and sustainability in the region. By embedding climate action directly into the digital assets ecosystem and leveraging the power of our blockchain technology, we’re providing the most comprehensive and first-of-its-kind solution that not only meets but exceeds global ESG expectations. This partnership underlines the growing importance of aligning financial innovation with environmental responsibility. Together, we are building the rails for a future where every transaction contributes to a greener planet, demonstrating how fintech can lead the charge in achieving net-zero goals.” Mohammed Ali Yusuf (Mo Ali Yusuf), Co-Founder and CEO of Fuze, added, “Our partnership with Fils underscores Fuze’s commitment to innovation and responsibility. As digital assets become a mainstay for financial institutions, embedding sustainability in these transactions is essential for long-term growth and environmental stewardship. Together with Fils, we’re setting a new standard for green finance in the region.” The partnership includes the following initiatives, providing real-time data on the environmental impact of digital asset transactions, empowering customers to make informed decisions, enabling customers to offset the carbon footprint of their transactions seamlessly, fostering climate-positive actions and helping banks and fintechs across the region adopt sustainable practices, aligning with global ESG (Environmental, Social, Governance) standards.
The collaboration between Fuze and Fils reflects a shared vision for responsible innovation. By integrating sustainability into digital assets, the partnership supports businesses in achieving both financial and environmental goals, paving the way for a greener economy. funds, and HNIs (high-net-worth individuals) in executing large digital asset trades securely and efficiently. Fuze also offers crypto payment solutions, facilitating global, real-time, multi-currency transactions for businesses.
Abu Dhabi based, G42, a global leader in creating visionary artificial intelligence for a better tomorrow announced a strategic investment in Inveniam, an innovator in private market financial technology that utilizes DLT technology to tokenize assets.
As per the announcement, this marks a significant step in G42’s mission to apply cutting-edge AI solutions to industries that are critical to global economies but remain underserved by technology.
Inveniam’s pioneering data architecture and expertise in private market systems align seamlessly with G42’s advanced AI capabilities. The collaboration will enable secure, privacy-first solutions for managing sensitive financial data while improving efficiency and transparency in private markets.
As per G42 this partnership underscores G42’s commitment to building transformative, AI-driven ecosystems that reshape industries for the better. Inveniam’s innovative technology and leadership make it the ideal partner to drive meaningful change in private markets globally.
With regards to Inveniam, which has raised over $120 million previously, the partnership is important because of their need for AI to deliver the world’s leading solutions for Private Markets.
Private markets, the realm of real estate, private equity, private credit and infrastructure investments, represent the world’s largest asset class, worth hundreds of trillions of dollars. Yet despite their massive size, these markets operate much like they did decades ago, with scattered data, manual processes, and long transaction times. Inveniam have spent years building technology to solve this problem, creating the infrastructure that allows these assets to be managed, shared and traded with the efficiency of public markets, while keeping sensitive data secure and in the clients’ systems using agents.
Patrick O’Meara, Chairman & CEO, Inveniam noted, ” As we built our solution, we realized that it would not be a single new technology that transforms this market. It is the convergence of AI, DLT, and DeFi. There were a number of significant technical barriers, but these have been overcome in the past several years. Now, Inveniam is utilizing these technologies together at scale. Inveniam’s platform delivers trust in the source data with visibility, transparency, and auditability around the automation which we refer to as Smart Provenance™. This context, attribution, and trust opens the door for enterprise use against private market assets.”
Inveniam and G42 will offer solutions that deliver trust in the value of underlying assets for investors exchanging billions of dollars daily on private market funds, indices, derivatives, and eventually the underlying assets.
G42 has built some of the most advanced AI systems in the world and partners with leading organizations across industries and geographies.
Enterprises need a tool to get their data ready for AI and maintain readiness for automation tools, such as AI. This is where Inveniam’s sophisticated permissions and workflow solutions allow for management of data operations in a decentralized data environment with a focus on the unstructured data associated with private markets.
Both companies will be building something that hasn’t existed before a comprehensive technology platform that combines G42’s AI capabilities with Inveniam’s data architecture. The world’s first private markets derivatives exchange, beginning with real estate, that enables these assets to be traded dramatically more efficiently, with a target of reaching the efficiency of the public markets.
From this foundation of permissioned-access to trusted data, The partnership with G42 provides the resources for the next several years of operations as well as technological capabilities to expand to all private markets – from infrastructure projects to private equity investments.
We’re building the infrastructure that will allow the world’s largest asset class to operate with the efficiency of public markets while maintaining privacy and control that private market participants require. This leapfrogging of public market centralized data solutions will transform Private Markets. With G42 and our ecosystem of partners, we are starting to deliver this reality.
Emirates NBD, a banking group with presence in Middle East, North Africa, and Türkiye (MENAT) region, has added its fifth member of its Digital Asset Lab, Chainlink, the standard for onchain finance, verifiable data, and cross-chain interoperability. Chainlink will join other founding members including PwC, Fireblocks, R3 and Chainalysis.
Chainlink’s membership will play a key role in advancing the Digital Asset Lab’s mission to create innovative solutions in digital finance.
Digital assets represent a market of over USD 1.3 trillion globally, with tokenization alone contributing an estimated USD 230 billion annually to GDP in the MENA region, Ernst & Young estimates¹.
As digital assets increasingly become mainstream, banks are increasingly innovating to cater to cryptocurrencies, tokenized securities and Central Bank digital Currencies. This strategic alliance strengthens the Digital Asset Lab’s ability to scale the development of digital asset solutions while upholding the highest standards of trust, reliability and security.
Miguel Rio Tinto, Group Chief Digital and Information Officer at Emirates NBD, said, “We are proud to partner with Chainlink and welcome them to Emirates NBD’s Digital Asset Lab as a council member. As a key platform for our innovation strategy, the Digital Asset Lab enables us to pioneer next-generation solutions for our customers. With Chainlink Labs’ expertise in onchain finance, we are confident this partnership will drive new advancements in tokenization and digital asset management, reinforcing Emirates NBD’s position as a regional leader in financial innovation.”
Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, added, “Tokenization and digital assets represent a hundred-trillion-dollar opportunity for financial institutions in the MENAT region and beyond. Chainlink Labs is excited to collaborate with Emirates NBD by becoming a council member of its Digital Asset Lab to help support the development of onchain financial applications powered by the Chainlink standard for onchain finance, verifiable data and cross-chain interoperability.”
The Digital Asset Lab was launched in May 2023 at the Dubai FinTech Summit, to accelerate digital asset and financial services innovation in the UAE.
The Digital Asset Lab has implemented groundbreaking solutions for Emirates NBD, such as offering crypto products in retail banking using loyalty program points, tokenized real-world assets such as bonds for Emirates NBD Capital, stablecoins and surrounding regulations, as well as compliance and monitoring of virtual asset transactions.
Additionally the bank signed a Memorandum of Understanding (MoU) with Ctrl Alt, B2B alternative asset solutions provider, to explore infrastructure solutions related to tokenization of real-world assets.
Qatar Fintech Hub announced that Fintech and digital startups from 7countries showcased their solutions during the Demo Day which is the final milestone of the Wave 6 Incubation & Acceleration Program. These startups have advanced through the flagship program to develop their innovative solutions in line with the National FinTech Strategy focusing on two key themes of Islamic FinTech and Digital Assets.
The startups include names such as Alt DRX a B2B real Estate Marketplace for Indians to buy & sell tokenized properties 1 SQFT at a time; powered by algorithmic pricing, instant settlements & Blockchain ledgers.
The second startup to be pitching is ARCA X LLC which is building the bridge between Centralized Finance (CeFi) & Decentralized Finance (DeFi) Through Hard-Blockchain (HBC)™ our proprietary blockchain hardware infrastructure & software end-to-end solution.
The third is Blade Labs which combines AI, blockchain, and smart contracts to help financial institutions deploy Shariah-compliant capital more efficiently. Our embedded Islamic finance platform automates compliance, enhances transparency, and reduces processing time from weeks to minutes, providing secure and scalable solutions for the $3.9T Islamic finance market.
Also pitching is Credit Plus which is empowering SMEs by providing innovative supply chain finance solutions that enhance cash flow, promote financial inclusion, and drive economic growth, with a vision to be the leading digital platform for seamless collaboration between banks, buyers, and suppliers across the MENA region.
Other startups include
Dhahaby facilitates loans against gold, gold jewellery and luxury timepieces removing the friction in collateralized lending for borrowers and lenders.
Ehmini is a digital platform offering embedded Takaful insurance solutions tailored for low and middle income expatriates in Qatar and the GCC. We simplify access to affordable retirement and insurance products by integrating seamlessly with financial institutions and payment platforms.
Finrock is a B2B platform allowing any asset to be identified, verified, and transferred to the blockchain unlocking liquidity and creating a secondary market.
GreenVycto, which is a Carbon Credit Tokenization platform designed to accelerate sustainability through incentivizing eco-friendly actions and supporting a green economy.
Hemaayah is an Insuretech platform bringing insurance protection to 30 Million GCC employed blue-collar workers. Their remittance linked insurance product provides health and income protection benefit to 150 Million family members of migrant workers.
Kredflo is a Shariah-compliant anchor led supply chain finance which enhances cash flow for anchors/sellers by offering immediate payments, while providing buyers/borrowers with a cost-free credit line.
Sidra a tokenisation infrastructure service provider and finally Wafir which transforms traditional lending circles into a modern, digital experience, ensuring secure, transparent, and efficient community financing.
First Abu Dhabi Bank (FAB), a leading UAE bank with asset of $335 billion, has partnered with UAE based Libre Capital to offer digital tokens as collateral for its blockchain based lending program.
As per the article in CoinDesk, the new initiative enables approved lenders to use real world asset (RWA) tokens as collateral for stablecoin lending. These tokens represent digitized versions of traditional investment products, including funds from established firms like Brevan Howard, Hamilton Lane, and BlackRock.
Libre Capital, which began operations in March 2024, has already issued approximately $150 million worth of tokenized assets. These include various investment vehicles, such as Brevan Howard funds, Hamilton Lane’s fixed-income products, and a BlackRock money-market fund.
The program operates across multiple blockchain networks, demonstrating its broad technological reach. These networks include Ethereum, Polygon, Solana, NEAR, Aptos, and Coinbase’s layer-2 network BASE, providing flexibility and accessibility for users.
The initiative falls under Libre’s “Project HODL,” which stands for High-Yield Optimized Decentralized Liquidity. This project aims to create new utility for assets under management through collateralized lending mechanisms.
Dr. Avtar Sehra, founder and CEO of Libre, explained the technical aspects of the program stating, “We’ve been working on adding utility to our AUM in the form of collateralized lending,” he said. “It’s an on-chain infrastructure that allows these RWAs to be used as collateral.”
The lending process operates exclusively in stablecoins rather than traditional fiat currency. T
Sameh Al Qubaisi, group head of global markets at FAB, emphasized the bank’s commitment to innovation through this initiative. The program includes automated processes designed to ensure proper risk management and regulatory compliance.
The partnership creates new opportunities for holders of crypto assets who want to use their tokens as collateral. This practice has become increasingly popular in the cryptocurrency space, and First Abu Dhabi Bank involvement brings traditional banking infrastructure to support it.
The technical implementation includes credit lines provided through existing lenders, such as broker dealers and Laser Digital. FAB’s role involves handling liquidity through lending credit lines on Libre’s assets across various blockchain networks.
Prior to that MANTRA, a layer 1 blockchain purpose-built for tokenized real-world assets (RWAs) partnered with Libre Capital, a UAE-headquartered financial instruments tokenization and issuance platform, to provide investors with onchain access to a diverse range of attractive investment funds.
As per the partnership Libre Capital will provide those MANTRA users that are institutional or accredited investors with investment opportunities across a number of notable onchain funds, including leading hedge funds, private credit funds and money market funds.
