Dubai Fintech Summit concludes with signing of 50 MOUs

Dubai Fintech Summit concludes with signing of 50 MOUs

The 2nd edition of Dubai FinTech Summit (DFS) organized by Dubai International Financial Centre (DIFC), under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of DIFC, concluded with resounding success. The 3rd edition of the Dubai FinTech Summit will be held on 7-8 May 2025, also under the directives of His Highness Sheikh Maktoum.


From government officials and policy makers to start-up founders, the two-day Summit, held at Madinat Jumeirah, brought together an unprecedented gathering of more than 8,000 decision-makers from 118 countries around the world. These included over 300 thought leaders participating in 125 discussions across five stages and over 200 exhibitors showcasing cutting-edge technologies. Over 20 government dignitaries were also in attendance, including the Mayor of Seoul, Central Bank Governors, and Deputy Governors.


His Excellency, Essa Kazim, Governor of DIFC, commented: “The Dubai FinTech Summit is not just a gathering, it is a platform for transformative discussions and collective action. The Dubai FinTech Summit stands as a beacon of impact, progress, and collaboration, creating unprecedented opportunities for growth and innovation. Dubai is at the forefront of shaping the future of finance and will continue to strengthen its position as a leading global hub for FinTech firms.”

Arif Amiri, Chief Executive Officer at DIFC Authority, opened day two of the Summit, followed by two fireside chats with His Excellency Helal Saeed Al Marri, Director General, Department of Economy and Tourism, and Yie-Hsin Hung, President and Chief Executive Officer at State Street Global Advisors.


During his opening remarks, Arif Amiri, Chief Executive Officer at DIFC Authority, said: “Today, we are experiencing an extraordinary period of technological transformation where FinTech defines how we transact, how we save, and how we manage our financial lives. FinTech is also defining how traditional financial services companies operate. In recent years, we have seen FinTech revenues grow globally six-fold. We have also seen growing mainstream acceptance of cryptocurrencies, which is allowing for its market capitalization to exceed USD 3trn. This year, FinTech is again expected to garner and secure an additional 5 per cent of global financial service
revenues. In the next two years, digital payments are expected to increase over 10trn dollars, and by 2030, north of 25 per cent of banking valuations are expected to be driven by FinTech.


Dubai FinTech Summit offers a unique platform to explore the opportunities ahead of us, which is why, at DIFC, our strategy is firmly focused on being at the heart of this FinTech revolution. During our 20 years of operations, we have always embraced innovation. It is part of our X factor. We do not simply talk about it but engage with it; with the talent, with the investors and the regulators to execute it. Our visionary leadership has always enabled Dubai and DIFC to take a leading role in driving the future of finance and innovation. For this reason, we have built the region’s most comprehensive proposition that enables our clients to do and achieve great things in a place that integrates FinTech firmly into its DNA. In a place that attracts talented entrepreneurs, encourages collaboration, and provides global connectivity: a gateway between the east and the west, and a true nexus point for the global markets.”


Over 50 international associations participated in the Summit this year, including Africa FinTech Network, Business France, FinTech Philippines Association, European Blockchain Association, Global FinTech Alliance (GFA), Hong Kong FinTech Industry Association, International Digital Economy Association, Invest Seoul, Luxembourg Institute of Financial Technology (LHOFT), Swiss Finance & Technology Association and Women in Web3 Association, among others.


This year’s Summit saw the participation of over 1,000 investors, including more than 10 top executives from some of the world’s biggest banks, managing over USD 7trn in assets under management (AUM). In addition, over 40 FinTech and blockchain unicorns, with a combined market capitalisation of over USD 400bn were also present.


During the two days, over 30 side events were hosted by local, regional, and international partners of the Summit. Panels on the second day included a deep dive into some of the most pressing topics within the financial technology landscape, ranging from High Interest Rates and Macroeconomic Volatility, Institutional Adoption and other.


Dubai FinTech Summit also witnessed the signing of more than 50 Memorandum of Understandings (MoUs) with global financial leaders, as well as several key announcements from attending businesses. Nik Storonsky, Founder and CEO of Revolut announced expansion plans in the MEASA region, marking a significant step towards fostering financial inclusion through cutting-edge technology. Revolut is a global neobank and financial technology company with headquarters in the UK that offers banking services for retail customers and
businesses.
Recognizing the potential of operating in the region’s largest financial ecosystem, State Street Global Advisors’ CEO, Yie-Hsin Hung, also announced that the firm is making a welcome return to DIFC. Based on the region’s expanding opportunities, coupled with DIFC’s 20-year track record as a leading hub for finance and growth, DIFC has continued to draw in an extensive list of banks, advisors, high-net-worth individuals, family offices, and sovereign wealth funds seeking exposure to the region’s fast-growth markets within a future-forward regulated environment.


Dyna.Ai, the Singapore-headquartered firm announced the launch of its operations across Asia, the Middle East, Africa, Europe, North America and Latin America, aiming to transform businesses with AI. The company offers a suite of solutions for digital banking, risk management, audience communication, and employee productivity to address current financial challenges. In the MEA region, offices will be opened in the UAE, Saudi Arabia, and Nigeria. Dyna Athena, a newly launched AI platform, will provide revolutionary communication and interaction between customers, which will include features such as text-to-speech, language and speech processing. Dyna
Avatar, a brand-new humanoid customer assistant, capable of real-time voice-activated conversations in Arabic, English, Chinese, Japanese and Thai, was also launched at the Summit.


Among several notable presentations, Crypto Oasis provided an insightful update on the UAE’s dynamic and ever- evolving blockchain ecosystem. According to the presentation, active companies have surged by 13 per cent year- on-year, reaching 2,040 organizations, with a healthy mix of 71 per cent native and 29 per cent non-native blockchain companies contributing to the ecosystem. There has also been a marked increase in the industry workforce, with over 10,600 individuals working in the blockchain space. One of the key factors driving the crypto industry has been an increase in regulatory clarity, which has helped to attract global brands such as Bybit, Crypto.com, and OKX, which each received Virtual Asset Service Provider (VASP) licenses from VARA.


In line with the Dubai Economic Agenda (D33) to position Dubai as the top four global financial hubs by 2033, DFS is designed to encourage cross-border collaboration and innovation, central to transforming the global FinTech sector.

The Summit presented a unique opportunity for attendees to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region. The 2nd edition of the Dubai FinTech Summit was supported by over 150 global corporate partners. Visa as Founding Partner & Co-Host; Emirates NBD as Premium Banking Partner; e& life as Powered By sponsor; Commercial Bank of Dubai (CBD) as Strategic Banking Partner; Finvasia as Lead Sponsor; SC Ventures as Strategic Venture Partner; Dynatech AI as Powered By sponsor; and Mashreq as Diamond Sponsor; Ripple, Deloitte, Nasdaq, Mastercard, Pay10, Bitpanda, and Alpheya as Platinum Sponsors; AWS & Integra, and Dubai Financial Market among others.

Emirates NBD Digital bank explores tokenization of real world assets

Emirates NBD Digital bank explores tokenization of real world assets

Emirates NBD the creator of Liv, UAE’s first digital bank has 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. The MoU was signed at the Dubai FinTech Summit by Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD and Matt Ong, Founder and CEO, Ctrl Alt.

As per the press release,digital Assets represent a trillion-dollar asset class and the opportunities for future innovation and market opportunities within it are considerable. Liv is enthusiastic about championing the next generation of investors and is collaborating with Ctrl Alt to ensure they remain at the forefront in offering diversified and sought-after products. With the support of Ctrl Alt’s infrastructure, Liv aims to explore avenues to grant their customers access to the burgeoning tokenized asset sector.

Several surveys have indicated changing investment patterns amongst millennials and Gen Z. A report on Middle East Investment Trends by Lombard Odier indicated that younger investors hold strong, positive long-term investment convictions. Additionally, 60% also expressed a strong preference for private market assets, including private equity, private debt, real estate and infrastructure. Further, Gen Z are investing at a higher rate and earlier age than previous generations. According to an Oliver Wyman Forum survey, almost half of Gen Zers invest in the stock market and they are 45% more likely to start investing by age 21 than millennials and two to four times more likely than Gen X and baby boomers.

Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, said: “Liv is the first bank in the UAE to explore offering tokenised real-world asset investing opportunities to customers, and we are delighted to co-partner with a leading infrastructure provider such as Ctrl Alt for this initiative. As the innovation incubator in Emirates NBD Group, Liv has always remained at the forefront of digital innovation, seeking to collaborate with partners to explore and experiment with technologies that are in demand globally and in the UAE.”

He added: “According to a report by the Boston Consulting Group, asset tokenization will expand into a USD16.1 trillion business opportunity by 2030. Coupled with the growing demand for alternative investment avenues from millennials and the next generation of investors, this represents an opportunity for us to explore the potential of this domain, aligning with our vision to be the most innovative bank for our customers, people and communities.”

Pedro Sousa Cardoso, Chief Digital Officer, Retail Banking and Wealth Management, Emirates NBD, said, “Tokenization is considered the future of financial markets, offering benefits such as lower costs and reduced settlement times. As pioneers in technology adoption in the region, we are actively exploring the tokenization space to maintain our competitive edge against more agile fintech companies. Our exploration of solutions related to tokenized real-world assets further builds on Liv’s aspiration to serve our Gen Now customers by providing a range of innovative and in-demand products to meet their financial needs.”

Matt Ong, Founder and CEO, Ctrl Alt, added, “At Ctrl Alt, we are passionate about providing accessible infrastructure solutions to the thriving tokenized asset sector from Digital SPVs to Fund Structuring.

We are really excited to be partnering with Liv who are paving the way for tokenized real-world asset investing. Liv truly represents the future of banking with its clear customer-centric focus on innovation and is waving the flag for the next generation of investors who are demanding diversification. We are excited about the opportunity that this partnership will bring to their customers and cannot wait for what is to come.”

Dubai Fintech summit offers a platform for Fintech startups and investors

Dubai Fintech summit offers a platform for Fintech startups and investors

For the second consecutive year, Dubai will remain in the spotlight as it hosts the second edition of Dubai FinTech Summit, under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime
Minister, and Minister of Finance of the UAE and President of DIFC, which is set to take place on 6-7 May at Madinat Jumeirah.


Organized by Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, the Summit will bring together 8,000 decision-makers, over 300 thought leaders and more than 200 exhibitors to discuss the latest innovations and challenges and showcase cutting-edge technologies.


The global FinTech sector is rapidly growing and is predicted to be valued at USD 608bn globally by 2029, according to Mordor Intelligence, a market intelligence and advisory firm. Bucking the downward global market trend, the MENA FinTech market is expected to register a CAGR of over eight per cent during the period 2024 to 2029.


Dubai FinTech Summit will offer a platform for start-ups, investors and industry leaders to connect and capitalize on the growing FinTech market in the region and beyond. The MENA region’s FinTech start-up and venture capital landscape is booming, with over 800 FinTech start- ups worth USD15.5 bn, according to data by dealroom.co. Reflecting the ongoing transformation in the financial sector driven by Innovation, Inclusion, and Impact, the key themes this year will be Finance Renaissance, Ecofinance and Impact, Investment Vanguard, Regulatory Frameworks, Global Financial Dynamics and FinTech 2.0.


Mohammad Alblooshi, CEO at DIFC Innovation Hub, said: “Nearly 60 per cent of all FinTech companies in the GCC are currently based in Dubai. With the industry growing at an unprecedented rate, it is crucial for stakeholders to gather and discuss the challenges and
opportunities that lie ahead. The Dubai FinTech Summit will bring together the most prominent figures in the industry, with an agenda that is aimed at driving innovation, inclusivity, and growth for all.”

With an impressive line-up of distinguished local and international speakers, the Dubai FinTech Summit will host a series of panel discussions and fireside chats. More than 20 governors of financial institutions will attend the summit this year, amongst them, H.E. Essa
Kazim, Governor, DIFC, UAE; H.E. Dr. Philmnisi, Governor, Central Bank of Eswatini; H.E. Cheaserey, Governor National Bank of Cambodia; H.E. Martin Galstyan, Governor, Central Bank of Armenia; H.E. John Rwangombwa, Governor, National Bank of Rwanda; H.E. Prof. Edward Scicluna, Governor, Central Bank of Malta will participate in discussions during the two-day event. Adena T. Friedman, Chair & CEO of Nasdaq Inc; Nic Dreckman, CEO of Bank Julius Baer & Co.; Yie-Hsin Hung, President & CEO of State Street global advisors and Jim Demare,


President global markets at Bank of America, along with many other global industry leaders will also be participating in the various sessions planned for the Summit. Notable local speakers include H.E. Abdullah bin Touq Al Marri, Cabinet Member & UAE Minister of Economy; H.E. Helal Saeed Al Marri, Director General, Department of Economy and Tourism, Dubai; H.E. Salem Humaid Al Marri, Director General, Mohammed Bin Rashid Space Centre, UAE; and H.E. Faisal Belhoul, Vice Chairman of the Dubai Chamber, Chairman of J&F Holding.

A key highlight of the Dubai FinTech Summit will be the Grand Finale of the FinTech World Cup (FWC). The champions of the FinTech World Cup will be announced on Day 2 of the summit with the winners securing an investment of up to USD 1 million. The competition is a growth-enabling initiative by DFS designed to encourage cross-border collaboration and stellar innovation, pivotal to transforming the global FinTech sector.
In line with the D33 Agenda to position Dubai as the top four global financial hub by 2033, the 2nd edition of the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. It presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA
region.
The inaugural Dubai FinTech Summit attracted over 5,000 C-suite leaders from over 90 countries including north of 1,000 investors and more than 150 speakers. Over 20 Memorandum of Understandings were signed with global financial leaders during the Summit.

e& life fintech tech provider joins Dubai Fintech Summit

e& life fintech tech provider joins Dubai Fintech Summit

e& life, which leverages cutting edge technology to offer fintech, entertainment, retail and mobility services, the business pillar of e& that brings the next-generation digital world to the consumer’s fingertips, has joined theDubai FinTech Summit (DFS), organised by Dubai International Financial Centre (DIFC), the leading global Financial Centre in the MEASA region. As a Powered By sponsor, e& life is dedicated to supporting innovative and future-thinking businesses on a global scale.

e& life fintech arm, e& money, has become a regional powerhouse, known for its user-friendly mobile financial services and its position as the UAE’s fastest-growing issuer of Mastercard debit cards.

Mohammad Alblooshi, Chief Executive Officer at DIFC Innovation Hub, said, “The path to true innovation lies in collaboration and the Dubai FinTech Summit strives to bring together global leaders, innovators and disruptive start-ups to shape the future of finance. The alliance between the summit and e& life demonstrates our mutual commitment to fostering a dynamic FinTech ecosystem to strengthen Dubai’s existing reputation as a leading business destination. Transforming challenges into opportunities, our goal is to create the most advanced, inclusive and technologically empowered financial community.”

Khalifa Al Shamsi, Chief Executive Officer at e& life, said, “The Middle East is at the forefront of a major transformation in financial services delivery, driven by technology shifting from traditional to innovative solutions. As a pioneer in the region’s flourishing FinTech sector, e& is driven by a bold vision to lead this change.

“Through strategic partnerships, we aim to fast-track progress and take the region’s FinTech potential to new heights. This partnership represents a valuable opportunity for both e& and its FinTech portfolio under the business pillar e& life to collectively imagine new possibilities, inspire breakthrough ideas, and catalyse impactful innovations. By bringing together the talent and resources within our ecosystems, we can accelerate the journey toward a future where financial services truly empower people across societies. We look forward to contributing our expertise to shaping discussions that will steer the direction of the industry and play a role in realising the UAE’s aspiration to become a global hub for financial innovation.”

In line with the Dubai Economic Agenda (D33) to position Dubai as the top four global financial hub by 2033, the 2nd edition of the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. It presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.

The Dubai FinTech Summit, scheduled for May 6-7, 2024, at Madinat Jumeirah, Dubai, will see an unprecedented gathering of over 8,000 decision-makers, over 300 thought leaders and over 200 exhibitors showcasing cutting-edge technologies.

Visitors can purchase tickets for the Dubai FinTech Summit 2024, with early bird prices ending soon.