Kazakhstan to cooperate with UAE on CBDCs and crypto regulations

Kazakhstan to cooperate with UAE on CBDCs and crypto regulations

The visit of the National Bank of Kazakhstan to the UAE will lead to exploration of cross border initiatives, collaboration with ADGM and DIFC on digital assets, and learnings from Dubai’s Virtual Asset Regulatory Authority on developing bespoke regulations for digital assets. This comes as the UAE Central Bank launched its digital dirham CBDC which will be available for retail users at the end of 2025.

These comments were made by Binur Zhalenov, Chief Digital Officer of the National Bank of Kazakhstan in a LinkedIn post as he noted that the delegation’s visit was a productive one.

In an official press release, the National Bank of Kazakhstan noted that on March 26-27, the delegation of the National Bank of Kazakhstan and the Agency of Kazakhstan for Regulation and Development of Financial Market (ARDFM) made a visit to the United Arab Emirates (UAE).

During the visit, meetings were held with H.E. Khaled Mohamed Balama, Governor of the Central Bank of the UAE; H.E. Waleed Saeed Abdul Salam Al Awadhi, CEO of the UAE Securities and Commodities Authority; H.E. Ghannam Butti Al Mazrouei, Chairman of the Abu Dhabi Securities Exchange; management of the Mubadala sovereign investment fund, administration of the UAE international financial centers, banking and fintech companies.

In the course of the meeting with the Central Bank of the UAE parties exchanged views on macroeconomic conditions, as well as experiences in financial flows management and digital financial assets regulation. Following the meeting, a Memorandum of Understanding was signed aimed at exchanging best practices in the development of financial markets and FinTech, ensuring cybersecurity, and promoting CBDCs.

An exchange of experiences on the digital financial assets regulation and the development of blockchain technologies took place with the management of the Virtual Assets Regulatory Authority of the UAE.

In cooperation with the AIFC management, a meeting was held with the administrations of Abu Dhabi Global Market (ADGM) and Dubai Financial Centre Authority (DFSA) to discuss approaches to the regulation of the UAE’s international financial centers, as well as the conduct of transactions and mutual settlements within the jurisdictions of these centers.

Following the meeting with the Abu Dhabi Securities Exchange, the parties noted the importance of developing infrastructure in the capital markets and increasing the liquidity of trading products in the exchange market.

In addition, meetings were held with the Mubadala investment holding and First Abu Dhabi Bank on the prospects of expanding investment partnership with Kazakhstan, as well as with regional offices of leading international companies BCG and Microsoft on the creation of infrastructure for the proactive development of AI in the financial market of Kazakhstan.

Crypto Regulations in Kazakhstan

Kazakhstan currently mandates that all crypto transactions occur through the Astana International Financial Center (AIFC), where regulated platforms such as Binance and Bybit operate. However, many transactions still take place outside this framework. More recently Azat Peruaşev, leader of the minority Aq Jol party and member of the Majilis, the lower house of the Kazakhstan parliament, proposed that the country’s central bank and private banks collaborate to create a “crypto bank” to provide a legal platform for operations with cryptocurrencies. Another MP, Ekaterina Smyshlyaeva, proposed legislative reform of digital asset regulations at the same time.

Peruaşev said 90% of crypto operations in Kazakhstan are currently carried out in a legal gray zone. That enables scams, illicit activities, and tax evasion.

The country through the Kazakhstan’s Financial Monitoring Agency (FMA)also recently shut down 36 illegal crypto exchanges, seizing $4.8M in assets to combat money laundering. Authorities blocked 3,500 unlicensed platforms, returning $545K to victims and freezing $120K in assets. Additionally Kazakhstan plans to launch its Digital Tenge CBDC by 2025 integrating it with global payment platforms.

All this comes as Kazakhstan has put laws into place to encourage cryptocurrency miners to establish operations there. Kazakhstan currently produces around 6.17% of the world’s cryptocurrency mining, placing it among the top four nations in the world along with China, the US, and Russia.

ACET Blockchain DeFi platform and H.H. Sheikh Al Qassimi of UAE for digital payments offering

ACET Blockchain DeFi platform and H.H. Sheikh Al Qassimi of UAE for digital payments offering

ACET ($ACT), a blockchain-powered decentralized finance (DeFi) platform, has signed an Memorandum of Understanding (MoU) with the Royal Office of His Highness Sheikh Ahmed Bin Faisal Al-Qassimi, UAE Royal family member in Sharjah to offer digital payments in largest casino project.

As per the press release, this strategic alliance is set to drive blockchain adoption, accelerate regulatory advancements, and redefine financial innovation on a global scale, with the UAE leading the digital transformation revolution.

Highness Sheikh Ahmed Bin Faisal Al-Qassimi noted that collaboration seeks to position ACET ($ACT) as part of the UAE’s national reserve and establish it as a key digital payment partner in the world’s largest casino resort project. The initiative will also enhance ACT’s real-world utility, facilitating its acceptance within the gaming, hospitality, and luxury resort sectors.

His Highness Sheikh Ahmed Bin Faisal Al-Qassimi expressed strong support for the initiative, stated, “We are now entering a new era of the digital economy. The collaboration with ACET ($ACT) marks a significant step toward establishing a modern, reliable, and internationally recognized financial system. ACET ($ACT) possesses immense potential to serve as the cornerstone of the digital payment infrastructure and stand as a stable financial asset for the future.”

This MOU grants ACET ($ACT) several strategic advantages, such as integration as an official payment partners for one of the largest casino resort projects globally. The MOU will seek to grant regulatory and licensing support for ACET assisting the company in seeking regulatory compliance within the UAE’s financial ecosystem.

Additionally the Royal Office will support ACET ($ACT) in blockchain-related projects and digital asset expansion.


Acme Worawat, the founder of ACET ($ACT), emphasized the significance of the agreement, “The backing of the Royal Office of H.H. Sheikh Ahmed Bin Faisal Al-Qassimi marks a defining moment for ACET ($ACT). This partnership solidifies our legitimacy, expands our global reach, and paves the way for real-world adoption of blockchain technology. With this strategic alliance, we are aligning ourselves with influential stakeholders who share our vision for decentralized finance and blockchain-powered economic solutions.”

The Royal Office of H.H. Sheikh Ahmed Bin Faisal Al-Qassimi has partnered with the world’s most successful luxury five-star resort and casino group to develop the first-ever casino resort in the Middle East. Located on Al Marjan Island in Ras Al Khaimah, this project, valued at over $3.9 billion, will become the UAE’s first legally sanctioned casino, surpassing investments in Las Vegas and setting new standards for luxury gaming and hospitality.

H.H. Sheikh Ahmed Bin Faisal Al-Qassimi is a key figure in the ruling families of Sharjah and Ras Al Khaimah, playing a pivotal role in shaping the UAE’s economic policies and business expansion. He actively fosters strategic partnerships between the UAE and international markets, with extensive experience in trade, real estate, energy, construction, finance, and technology.

As Chairman and senior executive in multiple global organizations, he co-founded the Al Qassimi Group of Companies and Investment Co., overseeing multi-sector business operations across manufacturing, tourism, hospitality, and financial services. He is a driving force in attracting international investment to the UAE, further solidifying the nation’s position as a leading global investment hub.

Amberdata digital asset analytics firm sets up office in UAE

Amberdata digital asset analytics firm sets up office in UAE

Amberdata, the US-based digital asset data and analytics for institutional customers, has expanded into the Middle East with a new office in Dubai. The office as per the press release will offer GCC current customers as well as new market entrants with sales and account management support including comprehensive, granular on-chain, DeFi, spot, and derivatives market data and market intelligence.

Amberdata chose the UAE due to its emergence as a crypto innovation center focused on creating a regulatory environment conducive to growth, attracting top talent, and fostering a robust ecosystem for the digital asset class.

“Dubai really has become a global hub of crypto innovation,” said Shawn Douglass, CEO of Amberdata. “Thanks to the growth of the DIFC (Dubai Financial International Centre) there are many institutions active in the region. This drives collaboration between traditional financial institutions and the crypto industry. We look forward to serving this growing market and providing more financial institutions with a competitive edge in the digital asset class.”

Amberdata delivers comprehensive data and insights into blockchain networks, crypto markets, and decentralized finance, empowering financial institutions with data for research, trading, risk, analytics, reporting, and compliance.

The announcement comes as financial institutions, and more VASPs enter the crypto space in the UAE and GCC region. One of the first digital asset data analytics firms to enter UAE was Chainalysis, and then Crystal Intelligence.

Amana UAE based neobroker now trades 450 cryptocurrencies

Amana UAE based neobroker now trades 450 cryptocurrencies

amana, UAE based neobroker with operations across the Middle East, has added 300 new cryptocurrencies to trade in, making the total available 450 cryptocurrencies. As per the press release this cements amana as the go-to platform for seamless digital and traditional asset trading in one powerful app.

This milestone fills a major gap: most crypto platforms focus solely on digital assets, while traditional brokers offer little to no crypto access. amana bridges both worlds, giving traders everything they need in one place—no multiple accounts required.

With 450 plus cryptocurrencies this makes the widest selection from any broker in MENA, including majors like Bitcoin or Ethereum and XRP, gaming coins like Decentraland, meme coins like the Trump coin, L1/L2s, DeFi, and many more,


“Trading crypto has never been this effortless,” said Muhammad Rasoul, CEO of amana. “With over 450 coins and a seamless all-in-one platform, we’re making it easier than ever for our customers to trade digital assets alongside stocks, forex, and commodities—all in one place, with zero hassle.”

22 percent of UAE Fayafi Investment Holding portfolio geared to digital and tokenized assets

22 percent of UAE Fayafi Investment Holding portfolio geared to digital and tokenized assets

Fayafi Investment Holding, the first UAE firm made available through a bankable certificate issued under the SIX Swiss Exchange framework, listed on the Vienna Stock Exchange and featured on Bloomberg, has announced a strategic expansion of its investment portfolio to capture emerging opportunities. 22 percent of the portfolio is geared towards digital assets including Web3, tokenized finance and blockchain.

Fayafi has deployed USD 1.2 billion in investments towards diversified and high-growth opportunities in strategic industries. The firm is currently the highest-value UAE publicly listed company on foreign stock exchanges. It also ranks number 4 GCC-wide, reinforcing Dubai and the UAE’s credibility as a global financial hub. The move aligns Fayafi’s long-term investment strategy with key financial, technological, and green finance opportunities. Fayafi Investment Holding’s diversified portfolio allocation across key industries, including digital assets, biotech, defense, and sustainability.

15.5% of the portfolio is allocated to medical and biotechnology, in line with Fayafi Investment Holding’s mission of advancing human well-being and scientific innovation. The investments will power next-generation advances in genomics, AI-driven healthcare, and pharmaceuticals.

Aerospace and Defence allocations constitute another 15.5%, funding satellite technologies, defence AI, and next-generation aerospace materials as the firm looks to capitalize on increased long-term defence spending globally.

Quantum Computing & Advanced Electronics has a 14% allocation, with investments targeted towards AI hardware, and cryptographic quantum technology.

AI-Driven Financial Markets & Algorithmic Trading account for another 14%, with investments aimed at enhancing market prediction models, automated trading, and AI-powered hedge funds, to strengthen financial market efficiency.

7.5% is given over to real estate with a Dubai focus. Fayafi will strengthen its commercial and luxury real estate investments in Dubai, capitalizing on a stable and appreciating market.

8% is set aside for carbon credits and forestation programs, aligning with Fayafi Investment Holding’s mission of creating a sustainable and secure future for humankind. The investment will create carbon offsets and monetized environmental impact investments that benefit local communities through job creation and upskilling

“At Fayafi, we recognize both the evolving financial landscape and the growing importance of sustainability in investment. Our investment expansion integrates advanced financial technologies with environmental responsibility, ensuring both profitability and long-term value creation for our stakeholders. We seek to take advantage of exciting global trends while positioning ourselves as a driving force for innovation across finance, technology, science and sustainability,” said Dr. Patrick Pilati, Executive President, Fayafi Investment Holding Limited

In the short term, Fayafi Investment Holding is seeking increased market positioning, with liquidity generated through digital assets and AI-driven investments. In the longer term, Fayafi is banking on exponential growth in AI, quantum computing and biotechnology.

Fayafi Investment Holding Limited is a global leader in strategic commodity investments, with a presence on the SIX Swiss Exchange and Vienna Stock Exchange. The company specializes in advanced financial markets, digital assets, and sustainable investments, shaping the future of global finance through innovation and ESG-driven strategies.

Bahrain digital asset exchange ATME issues gold backed tokens

Bahrain digital asset exchange ATME issues gold backed tokens

Bahrain regulated digital assets exchange platform ATME, has issued gold-backed tokens with the support of the Central Bank of Bahrain marking it as the first case of its kind in the Kingdom of Bahrain.


ATME issued two tokens, designed for accredited investors, which were acquired by an eligible investor. Each token is backed by one kilogram of gold to provide a modern and secure way to invest in one of the most trusted assets for wealth preservation.


The company’s tokenized gold offering allows ownership of the physical metal without the complexities of storage or transportation. The tokens represent gold that is securely held in custody until its redemption or trade in ATME’s secondary market.


Commenting on the milestone, Alex Lola, Chief Executive Officer of ATME remarked, “Today marks a defining moment for ATME as we launch our first tokenized gold issuance. By combining the timeless value of gold with the transformative potential of blockchain technology, we are unlocking new ways for investors to access and trade high-value assets. This achievement highlights our team’s tireless dedication and our collective vision of building. We are excited about the possibilities ahead as we plan to expand our offerings to include more asset classes on our platform.”


The announcement also notes that future issuances will provide investors with access to a wider range of alternative assets. ATME remains focused on driving financial inclusivity and efficiency in the capital markets of Bahrain and the wider region.

Flowdesk digital asset liquidity firm to set up office in UAE after raising $102 million

Flowdesk digital asset liquidity firm to set up office in UAE after raising $102 million

With offices in the United States, Singapore and France Flowdesk, a full-service crypto trading and technology firm, is seeking to set up an office in UAE as part of its MENA expansion plans after closing its $102m financing round. Flowdesk received as well further equity support from existing shareholders and HV Capital as well as debt from funds and accounts managed by BlackRock. 

Since its launch in 2020, Flowdesk is a strong liquidity provider in the crypto industry, notably through its Market-Making as a Service offering, serving spot and derivatives markets across over 140 centralized and decentralized exchanges. The company is dedicated to engineering trading technology and liquidity solutions tailored to the needs of a digitally native economy.

Following its global expansion in 2023, the company’s revenues grew by 8x in 2024. The extension will bolster ease of access to digital asset liquidity for ETFs and OTC trading solutions through a single point of contact.

‟Guilhem and the entire Flowdesk team have done a tremendous job in creating a hyper-growing, profitable, FinTech powerhouse within the vastly expanding digital asset space. Offering their clients the relevant infrastructure while complementarily adding OTC products and proprietary trading is incredibly smart. We are proud to have partnered with such a capable, experienced and smart founder and management team and strongly believe in Flowdesk as global FinTech Champion”, said Alexander Joel-Carbonell, Partner at HV Capital. 

Flowdesk has strong expansion plans

Flowdesk has ambitious growth plans for 2025. The funds will be used to scale its OTC derivatives business and launch a dedicated crypto credit desk, broadening its services to meet the evolving needs of the digital asset market.

The company will also invest heavily in its proprietary trading infrastructure and double its headcount, reinforcing its position as a leading liquidity provider and OTC trading firm while accelerating its global expansion.

The company also intends to invest significantly in compliance and legal to support the maturing guidelines from regulators, notably in anticipation of MICA. Finally, the company is set to open additional offices, notably considering UAE as its next outpost in the Middle East.

‟Our mission is to build institutional-grade trading solutions for the digital asset ecosystem. We are grateful to have partners and our existing investors backing our ambitious growth plans”, said Guilhem Chaumont, Global CEO of Flowdesk. ‟Tokenization has the potential to transform capital markets on a global scale. This partnership will allow us to continue pursuing our quest to make digital assets accessible to a wider range of institutionalized counterparties.” 

In 2024, Flowdesk served as a Liquidity Provider for various BTC ETF issuers. Today, all BTC ETF funds hold more than $115 billion worth of the cryptocurrency, according to FactSet. ‟Digital asset ETFs mark a pivotal moment in the evolution of crypto,” said Reed Werbitt, US CEO And Chief Revenue Officer of Flowdesk. ‟These ETFs send a strong signal to institutional investors that digital assets are maturing, paving the way for substantial capital inflows from hedge funds, pension funds, and endowments. We look forward to partnering with institutions entering the space through ETFs or any instruments.”

Laser Digital launched Digital NEAR Adoption Fund excluding UAE

Laser Digital launched Digital NEAR Adoption Fund excluding UAE

Laser Digital Nomura’s digital assets subsidiary with a regulated presence in UAE , has launched the Laser Digital NEAR Adoption Fund (the ‘Fund’). However investors in the UAE cannot participate in the fund. The announcement notes, that information contained herein, does not constitute, and is not intended to constitute, a public offer of securities in the United Arab Emirates (“UAE”) and accordingly should not be construed as such.

The shares are only being offered to a limited number of exempt investors in the UAE who (a) are willing and able to conduct an independent investigation of the risks involved in an investment in such shares, and (b) upon their specific request. The shares have not been approved by or licensed or registered with the UAE Central Bank, the Securities and Commodities Authority, or any other relevant licensing authorities or governmental agencies in the UAE. No transaction will be concluded in the UAE and any enquiries regarding the Shares should be made to Laser Digital UK Ltd at 1 Angel Lane, London, EC4R 3AB. 

As per the announcement the Fund’s strategy seeks to provide a long-term exposure to the NEAR token enhanced with staking which allows institutional investors residing in eligible jurisdictions (“Investors”) to participate in the blockchain consensus mechanism and take advantage of the economic opportunities of the NEAR blockchain.

Consequently, the Fund aims to harvest gains from a long-term trend combined with carry component in the Digital Assets asset class. The Fund utilizes TruFin’s institutional-grade liquid staking solution, TruStake, to provide Investors with seamless exposure to the NEAR token, as well as the network’s underlying staking rewards.


The entire internet will experience a paradigm shift towards AI-first interfaces and businesses, and Laser Digital believes that NEAR has positioned itself to be at the forefront of this AI-first future as the blockchain for AI. This is enabled by NEAR’s core technologies bridging AI and web3 – bringing agents, users, and services together in one single protocol:

  • User-Owned AI: Building towards AI that users can trust with their data & assets and ultimately AI that makes choices to benefit individual users rather than some centralized profit-maximizing entity
  • Chain Abstraction: A technology that connects all assets, across all chains, between AI agents and users while empowering AI agents to transact, and thereby solves for the interoperability problem
  • Intents: A new type of transaction that allows information, assets, goods and services exchange between AI agents, users, and real world services, making it possible to unify liquidity across crypto ecosystems and also bring AI participants together with financial services, commerce, and end users
    Sharded Blockchain: NEAR Protocol as a sharded, proof-of-stake blockchain with fast transaction throughput and already tens of millions of active users, offering scalable infrastructure for AI agents and users to transact effectively at any scale

These features make NEAR a valuable Layer-1 digital asset for the next wave of AI-driven Web3.0 applications. From this perspective NEAR aims to benefit from two long-term major trends: blockchain and AI, and the Fund aims to provide Investors exposure to both.

The Fund will be available in traditional format, after registration, in selected jurisdictions (with the exclusion of the US) to eligible institutional and professional investors. The Fund will also be available through various wealth management platforms.

The Fund is a segregated portfolio part of Laser Digital Funds SPC, a Segregated Portfolio Company registered as a mutual fund pursuant to section 4(3) of the Mutual Funds Act with CIMA (Cayman Islands Regulatory Authority).

Laser Digital is led by CEO Jez Mohideen who has over 25 years of experience in systematic investment strategies and macro trading at both Brevan Howard and Nomura. On launching the fund, Mohideen commented: “The Fund gives Investors a seamless way to gain exposure to digital assets through a long orientated exposure to the NEAR protocol that combines two major investment themes of digital assets and AI, alongside a carry overlay via the staking.”

David Norris, CFO at NEAR Foundation: “We are excited to launch the Laser Digital NEAR Adoption Fund to give institutional investors exposure to NEAR‘s rapidly growing AI ecosystem, enhanced with staking returns. We are convinced that Laser Digital with its strong expertise and distribution capabilities is the right partner to provide investors with seamless and compliant access to NEAR.”

UAE Fuze digital assets solutions in Turkey with Aktif ventures

UAE Fuze digital assets solutions in Turkey with Aktif ventures

UAE Fuze, a digital assets infrastructure provider has partnered with Turkish based Aktif Ventures, that invests, advices and offers Fintech technologies. Aktif Ventures will utilize the digital asset solutions offered by Fuze to its product portfolio.

With this partnership, Aktif Ventures will be able to provide OTC solutions to CMB intermediaries and banks in the field of large-scale corporate acquisitions and asset management, while also offering KYC and custody processes that comply with the legislation in cooperation with the institutions it is integrated with.

Yasemin Evsahibioğlu, General Manager of Aktif Ventures, said, “As Aktif Ventures, we continue to develop our fintech ecosystem with our leading API marketplace Apilion. I can say that we have developed our new term strategy by focusing on the financial technologies of the future and have achieved an important milestone in our sector with our partnership with Fuze Finance. I believe that with this partnership, we will take on a pioneering role in the crypto field, which is one of the new actors in the fintech world, and make a difference with our products.”

Fuze Finance CEO Mo Ali Yusuf added, “Fuze, has become one of the strongest financial institutions in the region, and it will continue its success in the Turkish market. With our unique DaaS (Digital Asset as a Service) infrastructure, high-volume crypto trading services, OTC services and advanced custody solutions that we offer to financial institutions, we aim to meet the most critical needs of the market with the most reliable and innovative infrastructures.”

The collaboration will leverage Fuze’s suite of offerings, making crypto trading, liquidity management, OTC solutions, wallet/custody services, and real-time portfolio management more accessible than ever.

Banks and intermediaries can now access a secure, fully compliant infrastructure for large-scale institutional transactions, all while seamlessly integrating KYC and custody processes. No hassle, no complexity – just fast, secure, and scalable solutions for the digital age.

Earlier in the year UAE regulated CoinMENA and Fuze were the first crypto exchanges in MENA to be onboarded onto Mastercard Crypto Credential platform that allows crypto exchange users to send and receive cryptocurrencies using simple aliases instead of complex blockchain addresses.

Abu Dhabi headquartered Soter digital asset insurer closes Series A round

Abu Dhabi headquartered Soter digital asset insurer closes Series A round

Abu Dhabi headquartered, Soter Insure, a provider of specialized digital asset insurance products tailored to the digital asset economy, has closed its Series A funding round, led by Galaxy, with participation from Brevan Howard Digital, Karatage, Token Bay, Pharsalus and others.

Soter headquartered in Abu Dhabi also operates out of Bermuda, with offices in London, New York and Dubai, it was also incubated by UAE based Further Ventures and WebN Group.

The company offers specialized digital asset insurance products for financial institutions, including Asset Loss, Directors & Officers (D&O), and Smart Contract Failure coverage, uniquely denominated in both fiat and native digital assets.

The company as such offers comprehensive insurance solutions tailored to the unique risks of decentralized technologies.

As per the press release, the investment will support Soter Insure’s expansion, bolstering its underwriting and technology teams to scale operations across key markets.

“Our mission at Soter is to set a new standard for risk management in the digital assets space. We are proud to have the support of Galaxy and our other Series A investors as we work to build innovative insurance products that meet the unique needs of the market. With this funding, we’ll continue to expand our offerings and grow our footprint globally, providing clients with trusted and transparent risk management solutions,” said Henson Orser, Founder and CEO of Soter Insure.

Mike Novogratz, Founder and CEO of Galaxy, added, “Galaxy is excited to support Soter Insure in their mission to bring innovative insurance solutions to the digital asset ecosystem. Their tailored approach to risk management meets a crucial industry need, empowering digital asset holders and operators with confidence. We are excited to contribute to their growth and global expansion.”