In a very interesting tweet on the X platform, RAK DAO ( Ras Al Khaimah’s Digital Asset Oasis) free zone welcomed the founder and creator of the Ethereum Blockchain, Vitalik Buterin.

In the tweet, RAK DAO states,” At RAK DAO, our fundamental belief in the transformative power of community has played a pivotal role in shaping our ecosystem. Our commitment to fostering innovation through collaboration recently materialized in a significant event, graced by the presence of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, alongside Vitalik Buterin, the Co-Founder of Ethereum, here in Ras Al Khaimah. This gathering reaffirmed our ongoing dedication to providing a platform where innovative ideas flourish, collaborations thrive, and the spirit of progress prevails. “

In February 2023, the Government of Ras Al Khaimah (RAK) announced that it would be launching the RAK Digital Assets Oasis free zone dedicated to digital and virtual asset companies for non-regulated entities.

This meant that the UAE would now have two crypto Blockchain Oases, one in DMCC for regulated blockchain and crypto entities and one in RAK for soft regulated entities. As per the announcement RAK DAO was supposed to launch in Q2 of 2023, but its official launch happened in October 2023.

Ras Al Khaimah Digital Assets Oasis (RAK DAO), marked the inception of a new era in digital evolution and Web3 collaboration within Ras Al Khaimah. Businesses dealing with digital assets, including cryptocurrencies, could operate under fewer regulatory restrictions.RAK Digital Assets Oasis, is the first common law and specialized free zone exclusively dedicated to companies involved in digital and virtual assets.

Since then, RAK DAO has been setting up partnerships as it entices blockchain, Web3, metaverse, and crypto companies to set up base in the Oasis. It partnered with The HBAR Foundation having signed a Memorandum of Understanding (MOU) with them. According to the MOU, The HBAR Foundation would support RAK DAO ecosystem members to leverage the power of blockchain and build economies and applications on Hedera, the most used enterprise-grade public network.

In an interview with Bloomberg News, Trust Wallet, self-custody crypto wallet, majority owned by the former CEO of Binance announced its operations in the UAE both in RAKDAO (Digital assets Oasis) free zone in Ras Al Khaimah and in ADGM in Abu Dhabi.

Vitalik’s visit comes after he released Ethereum’s roadmap for 2024 which will focus on scalability, security and sustainability improvements.

Ethereum co-founder Vitalik Buterin announced the plan on social media on Dec. 31, outlining several key initiatives for the platform’s development. ‘The Surge,’ a crucial component of Ethereum’s roadmap, aims to increase network scalability through data sharding. By dividing the blockchain into smaller parts, Ethereum intends to boost its transaction processing capabilities and reduce costs, addressing one of the most pressing issues faced by blockchain technologies today.

This development is expected to bring Ethereum closer to achieving its goal of processing over 100,000 transactions per second, as noted by Buterin in recent statements

Could this visit be another partnership in the making? Is the Ethereum founder finally interested in the UAE and Middle East?

Japanese Monex Group, which runs a crypto exchange and asset management has purchased a majority stake in Canadian 3IQ digital asset Fund manager, which was the first to list a Bitcoin Fund in the MENA region out of Nasdaq Dubai. 3iQ had received regulatory approval from DIFC in UAE to list the fund in April 2021 with UAE Based Dalma Capital is the syndicate manager for the fund expansion in the MENA region.

3IQ was also the first to launched regulated exchange listed funds for Bitcoin and Ethereum in North America. Fred Pye in an interview back in 2022 has stated that there would be new funds launched in MENA through Dubai.

Monex Group will acquire majority stake for $39.8 million according to Reuters.

In January 2021 3iQ digital asset fund, had marked the milestone achievement of 1 billion USD in the fund since it was launched in March 2020, which was a 900 percent growth from its previous record of 100 million USD worth of crypto in the fund.

3iQ recently unveiled the industry’s first-ever comprehensive suite of crypto hedge fund managed accounts through their innovative 3iQ Managed Account Platform (QMAP). This pioneering platform is not just a first but a revolution, seamlessly connecting institutions with cutting-edge digital asset alpha strategies. QMAP stands as a beacon of security, transparency, and efficiency, meticulously designed to meet the complex demands of institutional investors worldwide.

“Our long term strategy is to strengthen our asset management business, and by welcoming 3iQ to our group, we aim to achieve high growth by capturing the crypto asset management needs of institutional investors and crypto asset exchanges around the world, which are expected to grow in the future, ” said Yuko Seimei, CEO of Monex Group.

“We’re absolutely thrilled about this incredible opportunity to join forces with Monex Group,” said Frederick T. Pye, Chairman and CEO of 3iQ, “This partnership is not just about growth; it’s a thrilling leap towards realizing our dream. We’ve always been passionate about bringing regulated, innovative digital asset products to investors worldwide, and now, with Monex Group, we can turbocharge this mission. We’re eagerly looking forward to being a part of the Monex family, especially collaborating with Coincheck – Japan’s crypto exchange powerhouse with a staggering 1.8 million customer accounts. Imagine the synergy. With 3iQ’s expertise in crafting exceptional crypto-asset products, we’re poised to bolster Coincheck’s offerings, especially for institutional investors. This is beyond a win-win – it’s a joyous, groundbreaking collaboration that promises to reshape our industry!”

MetaMask self-custody crypto wallet announced on twitter that it has partnered with several entities across the globe including Egyptian payment provider Vodafone Cash to offer new ways to onboard crypto around the world.

MetaMask stated, “We’ve unlocked new ways to onboard to crypto around the world! -Vietnam: VietQR, Mobile Money, Philippines: GCash, Indonesia: QRIS, Thailand: Thai QR, Egypt: Vodafone Cash and Chile: Webpay

MetaMask has introduced a new ‘sell’ feature on its mobile app, enabling users across the world to exchange crypto for cash easily. In Africa, the feature is available for Nigerian and Egyptian users.

Metamask also announced that it is offering local transfers in  in Vietnam, Malaysia, Japan, and South Korea.💰

The partnership between MetaMask and Egyptian based Vodafone Cash is interesting given that Egypt has not legalized or regulated crypto trading and transfers.

The MetaMask wallet was downloaded the most in India and the United States, although 2023 data suggests growing popularity in other countries, most notably Brazil, Indonesia, Russia, India, and Nigeria.

In the Arab World, Metamask has been downloaded in Algeria, and Egypt.

MetaMask in December 2023 had 30 million users globally.

Although MetaMask is user-friendly, the wallet only comes pre-installed with the Ethereum network. Those wishing to add additional networks – such as Binance Smart Chain or Polygon, need to do this manually.  It doe not support Bitcoin.

MetaMask supports all cryptocurrency tokens on the Arbitrum, Optimism, Binance Smart Chain, Polygon, and Avalanche networks.

This comes as Egypt develops its CBDC ( Central Bank Digital Currency). In December 2023 Abdel Monem Al-Sayed, Director of the Cairo Center for Economic and Strategic Studies, noted that the state is prioritizing digital transformation. The aim is to decrease reliance on cash and printed currency.  

Egypt started on its CBDC project in December 2022. Egyptian Central bank announced that it was currently studying the implementation of CBDC (Central Bank Digital Currency) which should offer a safer and more secure replacement to current cryptocurrencies and the risks associated with them while making use of digital economy.

UAE digital assets infrastructure provider Fuze has partnered with Abu Dhabi headquartered Wio Bank to empower its customers with virtual assets trading services.

Customers will be able to buy and sell popular cryptocurrencies such as Bitcoin and Ethereum, directly through Wio Bank’s recently launched application, Wio Personal.

Wio Personal is an intelligent everyday banking application redefining the way individuals see, manage, and grow their money. The personal banking application allows all customers to start investing simply and effortlessly. Wio Personal users can access thousands of global stocks, ETFs, fractional shares and even UAE IPOs seamlessly in a single, integrated app.

Speaking about the significance of the partnership, Jayesh Patel, CEO of Wio Bank PJSC, said, “The region is emerging as an important hub for cryptocurrency and there is a demand from customers for convenient, seamless access to crypto trading services integrated within their daily banking apps. As a business that was created to catalyze the digital banking ecosystem, we are excited at the opportunities this collaboration with Fuze provides, to better serve our customers and support the UAE’s forward-thinking transformation of the financial services sector. Fuze mirrors our own robust governance, compliance, and risk capabilities, so our customers can be confident in having secure access to Virtual Assets.”

Mohammed Ali Yusuf (Mo Ali Yusuf), Co-Founder and CEO of Fuze, added, “As a regulated provider, we are proud to partner with Wio Bank, which has already made tremendous strides in redefining banking for the modern era across the region. There is a clear synergy with our mission to build the future of finance and we look forward to supporting Wio Bank in delivering regulated, trusted crypto services to its flourishing customer base.”

In a recent UAE poll suggested 48% of crypto users lacked trust in crypto exchanges. Through such partnerships, neobanks can provide regulated options for their customers and help to increase trust in the crypto ecosystem.

Laser Digital, crypto broker and investment service provider, a subsidiary of Japanese Nomura regulated in UAE by Dubai’s virtual asset regulatory authority, has launched their Ethereum Adoption Fund. The Fund, which invests in long-only spot positions in Ethereum, also deploys a yield enhancement strategy by staking the Ethereum held by the fund.

Prior to this Laser Digital Asset Management launched in September, the Bitcoin Adoption Fund.

The ‘Laser Digital Ethereum Adoption Fund SP’ is a segregated portfolio of Laser Digital Funds SPC (a segregated portfolio company incorporated with limited liability under the laws of the Cayman Islands under registration number MC-401019).

Komainu, also regulated in UAE and UK will provide secure, regulated custody for the fund’s assets.

On launching the fund, Sebastien Guglietta, Head of Laser Digital Asset Management commented, “Technology is a key driver of economic growth and transforms a large part of the economy from being analogue to digital. Ethereum is one of the enablers of this long-lasting transformational change. Hence, being exposed to Ethereum in the long run is considered a solution to capture this structural technology trend and the pace at which the Web 3.0 economy expands its network effect.”

 Fiona King, Head of Distribution, Laser Digital Asset Management added: “We’re excited to now be able to offer institutional investors a regulated product to allow investment and even staking in Ethereum. Our product simplifies digital asset investment strategies, driving institutional engagement securely.”

Laser Digital was launched by Nomura and was co-founded by Steven Ashley, who previously led Nomura’s wholesale division and Jez Mohideen, who was Nomura’s Chief Digital Officer and Co-Head of Global Markets EMEA. Headquartered in Switzerland, Laser Digital combines the rigor, best practices, and capabilities from global investment banking with the experience of a crypto-native team.

UAE based M2 crypto exchange and investment platform has partnered with UAE crypto mining Group Phoenix, to offer crypt investors with Bitcoin and Ethereum yields that reach up to 10.5%.

The alliance brings together the innovative UAE based entities and will reduce the level of counter party risk and in turn minimize volatility for investors wanting to gain exposure to cryptocurrency.

Stefan Kimmel, M2, CEO, said: “The industry leading collaboration between M2 and Phoenix Group has allowed us to design a product that utilizes Bitcoin mining to offer genuine returns for investors. Most investment platforms that offer yield returns on crypto provide it through one of two routes. The first route is proof of stake, which can result in some modest returns, alternatively the mechanic involves lending it out, and this incurs a considerable amount of counter-party risk. In our case, we are generating our returns predominantly with Bitcoin mining, which underpins the M2 Earn product.”

M2’s financial protocols are capable of reconciling client and M2 funds in near time, providing the highest levels of transparency to regulators and ensuring liquidity remains in place at all times.

The partnership with Phoenix Group empowers M2 to offer investors the assurance of investment yields based on real returns, which are generated via a 725MW Bitcoin mining operation. Founded in 2017 by Bijan Alizadeh and Munaf Ali. Phoenix aims to be the first privately owned crypto and blockchain entity to be listed on a Middle East stock market.

Bijan Alizadeh, Phoenix Group, Co – Founder and Group CEO M2, Founder and Managing Director “Phoenix vision was to set up and build an established UAE Crypto exchange, with full services for both retail and institutional investors and seeing this come to fruition is a very proud moment for us. With this strategic partnership we are in a position to provide unparalleled returns backed by the worlds largest bitcoin mining operations. We are delighted to announce this partnership which further cements the M2 and Phoenix proposition towards a collective vision, building the future of finance on secure and regulated investment products for all investors.”

“M2 has obtained a Bahamas License issued by the Securities Commission of the Bahamas (SCB), which enables it to offer the M2 Earn product to a global audience. M2 is also actively pursuing licenses in several European countries and navigating the Markets in Crypto Assets (MiCA) licensing process.

M2 Group’s  commitment to the UAE is further showcased by our two other entities: M2 Limited and M2 Custody Limited (M2 ADGM). Both are headquartered in the Abu Dhabi Global Market (ADGM).

M2 is also working towards obtaining the necessary regulatory approvals to allow UAE residents to onboard, in addition to M2, with M2 ADGM which will be regulated by the Financial Services Regulatory Authority (FSRA) of ADGM. M2 ADGM will be going live at a later date with their ADGM license.

Two new crypto tokens TonCoin (TON), and Ripple’s XRP have joined Bitcoin (BTC), Ethereum, and Litecoin as recognized crypto tokens by the Dubai Financial Services Authority (DFSA), the financial regulatory agency of the special economic zone, the Dubai International Financial Centre (DIFC).

One year since the launch of DFSA the crypto token regime and five crypto tokens can now be utilized by virtual asset firms within the DIFC. License firms will be able to incorporate XRP and TON into their virtual asset services. XRP and TON will be available for use by institutions located in the DIFC to accelerate faster, more efficient global value exchange.

Commenting on the acceptance of XRP in DIFC crypto token regime, Brad Garlinghouse, CEO of Ripple,  “Dubai continues to demonstrate global leadership when it comes to the regulation of virtual assets and nurturing innovation. It’s refreshing to see the DFSA encourage the adoption and use of digital assets such as XRP to position Dubai as a leading financial services hub intent on attracting foreign investment and accelerating economic growth. Ripple will continue to double down on its presence in Dubai and we look forward to continuing to work closely with regulators to realize crypto’s full potential.”

The recognition of TON comes a few days after TON set a world record for network speed. The TON team conducted a public test of blockchain speed. The developers reported that in 12 minutes of the experiment about 42 million transactions were performed, and the maximum speed amounted to 108,409 transactions per second.

Under the regime, firms in the Dubai International Financial Centre (DIFC) can apply for and obtain a license to provide financial services with Crypto Tokens in or from the DIFC. The DFSA’s regulatory regime is largely technology-neutral, allowing firms to provide a wide range of financial services with Crypto Tokens.

The framework is designed to accommodate firms who want to operate a Crypto Token market, provide custodial services, manage clients’ assets, establish or manage funds, or provide other financial services. The rules cover a wide range of risks relating to financial crime, technology, governance, custody, disclosure, market abuse and fraud.

Since its inception the crypto token regime has received enquiries from 100+ firms have inquired regarding operating a Crypto Token business, 5 Crypto Token variations were issued (a mix of funds and trading business). In addition one license to offer Investment Tokens was issued (to tokenize units of a fund);  and five crypto tokens have now been recognized.

DFSA will be launching its next set of proposals that will focus on custody; financial Crime; Staking for Proof of Stake (PoS) consensus mechanisms; and Fund Management

In a recent survey carried out by Deel, a global HR platform within the GCC and MENA region, the findings found that 51% of employees being paid in crypto prefer Ethereum

Employee cryptocurrency withdrawals within the GCC highlighted a growing level of adoption among individuals, who are now using cryptocurrencies as a viable medium for receiving employer payments. Conducting an extensive survey, Deel engaged with over 1600 employees and over 700 organizations in the UAE to gather valuable insights.

Of the 700 organizations surveyed in the UAE, 87% of employees were using crypto for salary payments. Of the 1600 employees surveyed only 8% were being paid in crypto in KSA while in Qatar it was 4.8%.

Exploring the Deel data beyond the UAE, Egypt places itself in the spotlight by a substantial margin, witnessing over 25,000 employee withdrawals using crypto in the last 12 months. Tracking Egypt’s trajectory, the roster of pioneering nations also includes Morocco, and Lebanon, each carving its path towards cryptocurrency adoption.

Notably, Ethereum (ETH) claims the top spot as the preferred cryptocurrency for withdrawals, commanding 51.2%. The US Dollar backed stablecoin USDC follows suit at 24.5%, while Bitcoin (BTC) controls 20.2% of the landscape. Solana (SOL) and Dash wrap up the top five most used cryptocurrencies with 2.5% and 1.6%, respectively, contributing to the crypto withdrawals landscape.

Tarek Salam, Head of Expansion from Deel, stated, “The Deel research provides an interesting window on the latest trends within the employment sector. It is truly great to witness the rapid surge in cryptocurrency adoption within the UAE and the wider region. The regulators have played a commendable role in encouraging greater participation in the cryptocurrency ecosystem and it’s a trend that we will be watching with interest as adoption continues to grow.”

Deel is a leading global compliance and payroll solution that helps businesses hire anyone, anywhere. Deel’s technology offers unmatched payroll, HR, compliance, perks, benefits, and other capabilities needed to hire and manage a global team.


The Ethereum Riyadh 2023 conference held on October 11th brought together an array of blockchain experts and entities, including Saudi Digital advisor for a Saudi governmental entity, who gave a presentation on embracing DeFi for business excellence. As per the press release, Abdulelah Aloshayni, digital transformation advisor at a Saudi Governmental entity provided a clear understanding of DeFi and discussed potential applications for large companies and government organizations.

This is no surprise given the work that for example SAMA ( Saudi Central Bank) is doing on CBDC, virtual assets and DeFi. Saudi Central Bank had hired Mohsen Al Zahrani to lead their digital assets and CBDC projects.

Abdulelah Aloshayni gave a presentation on “Embrace DeFi for Business Excellence.” He provided a clear understanding of DeFi and discussed potential applications for large companies and government organizations.

ETH Riyadh 2023 conference successfully took place at the CODE Lab of King Saud University at Riyadh, the capital city of Saudi Arabia. ETH Riyadh 2023, Web3 technology summit, was dedicated to the Ethereum ecosystem and blockchain technology, aiming to gather developers and builders from Riyadh, Saudi Arabia, and other regions in the Middle East.

ETH Riyadh emphasized a strong technical focus and aimed to provide insights from industry experts, fostering discussions on blockchain and Web3 cutting-edge technologies.

The ETH Riyadh organizing committee was composed of Tharawat Technology, Studio1727, ChainIDE, Coffee with Crypto, and Mask Network. The event received guidance and support from the Saudi Ministry of Communications and Information Technology, the Saudi Internet Association, and the KACST Digital Entrepreneurship Center. It was generously sponsored by Ankr (Title Sponsor), with presenting sponsorship from Chiliz, as well as support from Zilliqa, Adaverse, SAO Network, Onekey, Matrix World, and more than ten other Web3 projects.

Over 150 participants attended the event.  The ETH Riyadh 2023 conference kicked off with a keynote address by Tim Beiko, a representative of the Ethereum Foundation, who presented “Ethereum Governance Overview.” Tim Beiko outlined various ways to engage in Ethereum technology development and contributions, along with collaboration opportunities.

In the first roundtable discussion, Anton Agafonov, Product Lead at Zilliqa, Arpit Sharma, Managing Partner for the Middle East, India, and East Asia at the Near Foundation, and Aqeel Mohammad from the Ethereum Foundation discussed “L1/L2: Web3 Infrastructures and Innovations  from various perspectives, sharing their insights on Web3 infrastructure and innovation.

Xiao Wu, the founder of ChainIDE, then spoke on “The Road to Mass Adoption: Web3 Ecosystem in East Asia x Middle East Africa Region.” He shared insights into the development of Web3 ecosystems in East Asia and the Middle East and Africa regions, discussed the digital economy’s opportunities, and analyzed attempts and cases of large-scale applications in different regions.

While Dr. Waleed Aloriny, Chairman of the Saudi Internet Association, delivered a welcome address and moderated a special roundtable discussion on “Opportunities of Web3 Technology in Saudi.” Yasser Alobaidan, CEO of Tharawat Technology, Xiao Wu, Founder of ChainIDE, Stanley Wu, CTO of Ankr, and Alex Dreyfus, CEO of Chiliz, participated in the discussion. Representatives from various sectors engaged in lively discussions on Saudi’s entrepreneurial environment, policy regulations, Web3 development, digital economic opportunities, and international cooperation. Web3 entrepreneurs present recognized Saudi Arabia as a significant opportunity and expressed their desire to deepen their business and collaborations in the region.

ETH Riyadh 2023 marked a significant milestone as the first dedicated Web3 developer and blockchain technology summit in the Saudi Arabian region, particularly in Riyadh. This event represents a major advancement in the Web3 developer ecosystem of Saudi Arabia. ETH Riyadh has contributed to the flourishing of the local blockchain developer community, providing a platform for learning and networking for local developers and entrepreneurs.

The event has not only attracted local participants but also garnered attention from experts and investors from around the world. It serves as a crucial role in driving the development of blockchain technology in Saudi Arabia, offering a pivotal opportunity for exploring and shaping the future of the blockchain field. Furthermore, it plays a role in promoting digital innovation and economic growth in Saudi Arabia.

Xiao Wu, Founder of ChainIDE and a member of the ETH Riyadh organizing committee, expressed, “ETH Riyadh is the first summit in the Saudi region that focuses on blockchain technology and Web3 developers. It serves as a superhub for the local technology community and ecosystem development. Saudi Arabia is currently experiencing a pivotal period of rapid growth in the digital economy, and blockchain and Web3 technologies are integral components of the next generation of digital economies. We look forward to ETH Riyadh 2024, expecting to attract more builders in blockchain technology and facilitate increased collaboration and exchange among developers in the East Asia and Middle East and Africa regions.”

Given the focus in the past months on the topic of stablecoins, and with the launch of Paypal’s stablecoin pegged to the U.S. dollar, centered around discussions on how stablecoins will fair in the future, it is very interesting to see Edelcoin’ s launch of a stablecoin, not backed by the dollar or eyuan but backed by real world assets!

Paypal in its press release for example stated, fully-backed, regulated stablecoins have the potential to transform payments in web3 and digitally native environments. Today the stablecoin market is a $120 billion according to data from TradingView yet it is expected to grow to $2.8 trillion in the next according to broker Bernstein research report released this month.

Yet stablecoins face challenges include regulatory uncertainty, technical vulnerabilities, market fluctuations, and liquidity issues. Here is how Edelcoin comes in. It is a stable payment token potentially inversely correlated to inflationary fiat currencies. According to its creators as a payment token decoupled from monetary policies and fiat currencies, Edelcoin serves as an effective hedge against inflation. Edelcoin is backed by real-world assets.

The Edelcoin payment token, issued out of Switzerland is backed by a basket of pre-existing precious and base metals. The Edelcoin basket is structured to be less volatile than single asset-backed tokens, providing a stable or low volatile store of value, detached from inflationary fiat currencies, independent from monetary policies. The Edelcoin token is issued as ERC-20 Token on Ethereum blockchain followed by additional EVM compatible chains and traded on centralized and crypto exchanges (secondary market).

Each Edelcoin has an excess reserve of backing metals, in total corresponding to 125% of the actual metals embodied by each Edelcoin. To learn more and understand this new concept of stablecoins, LaraontheBlock interviewed Edelcoin’s Founder Andreas Wiebe to learn more about the benefits of Edelcoin how stablecoins backed by dollar will falter, and their interest in expanding into the MENA region.

  

1. What is Edelcoin and why should a stablecoin backed by real assets be created? What are these global assets?

From my perspective, the only stablecoins that are truly stable are those backed by tangible resources like precious metals. Other underlying assets (such as other currencies, real estate, etc.) do not offer long-term security. Currently, Edelcoin is the only one globally backed by tangible resources like precious metals. Throughout history, precious metals have always been considered a form of security.

2. How does PayPal’s release of a USD-backed stablecoin contribute to the growth of the stablecoin market, and how does this fit into your plans for Edelcoin?

Anything backed by the dollar will already suffer significant losses in the upcoming year. We are already witnessing the global decline of the dollar. Now, the BRICS countries are introducing their own currencies, dealing a death blow to the dollar. The dollar has already lost its value. A 95% absolute decline! Worldwide, major countries are trying to sell off the dollar and exchange it for precious metals or other currencies.

3. What is Edelcoin linked to in terms of precious metals? Who owns it? Who stores it for you?

Edelcoin is tied to a basket of precious and industrial metals, providing absolute security. The precious metals are stored in vaults in Europe and Switzerland. These assets belong to our partners, who have collectively deposited them with us as the issuer.

4. How can Edelcoin users benefit?

First and foremost, I would recommend everyone to invest 10-20% of their fiat holdings into Edelcoin, thereby diversifying their overall portfolio. Additionally, the market anticipates a rise in precious metal prices, which will lead to a stable value appreciation of Edelcoin.

5. How is Edelcoin regulated?

Edelcoin is a Swiss company and has been accepted and reviewed as a payment stablecoin by the Swiss Financial Market Supervisory Authority (FINMA). Swiss regulation is widely recognized as extremely secure and trustworthy worldwide.

6. Do you have plans to expand into the MENA and GCC regions, and how?

Absolutely! There is already a blueprint in multiple directions: We are working to integrate Edelcoin into the financial landscape of the MENA and GCC regions, including trading platforms, as well as invest in the economies of the entire MENA and GCC regions.

7. Where and when will Edelcoins be traded?

At launch, we already have six exchanges: XT.com, Probit, BitForex, Blocktrade, LBank, and MEXC. Edelcoin is tradable on XT from August 14.

8. How can Edelcoin be used as a form of payment, given that precious metal prices are not stable?

Precious metals, backing up each EDLC are industrial metals and looking into historical perspective, these metals show an upward trend. More information on backing metals are here: https://edelcoin.com/transparency/

Edelcoin is accepted as a digital currency and can be spent in businesses that accept cryptocurrencies, much like Bitcoin. Additionally, we are working on installing ATM machines in several countries, enabling easy deposit and withdrawal of fiat currencies for enhanced flexibility.

9. Can users exchange their coins for the actual precious metals they are linked to?

Of couse! On the Edelcoin website, there is a “Boutique” section  where anyone can exchange their Edelcoins for silver and gold coins – to my knowledge, no one else offers this!

10. How do you envision the future of stablecoins and crypto payments, and how can businesses, governments, and organizations benefit from them?

In my view, there will be a future return to currencies backed by precious metals. A stable currency spells success and security for any business engaged in buying and selling. Such certainty can only be provided by a currency that is 100% backed. Pension funds and trading companies dealing with resources like oil, gas, and other commodities will find a solution and use the stability of Edelcoin.

11. Any other news or updates that Edelcoin would like to share?

In the next three months, we will be installing the first ATMs in Europe and Asia. Contracts with currency exchanges have already been finalized. We are open to further partnership inquiries. Please reach us  at partner@edelcoin.com