UAE Phoenix Group  grows exposure in Europe with $577,074 acquisition

UAE Phoenix Group  grows exposure in Europe with $577,074 acquisition

UAE Phoenix Group, a Web3 holding group, which has major investments in crypto mining, blockchain projects, and a UAE crypto exchange M2 has confirmed its acquisition valued at more than half a million dollars ($577,074) in one of its related parties, Phoenix Technology Solutions B.V. based out of the Netherlands.

As per Board decision documents, the Phoenix Group board believes that the acquisition will increase the company’s and group’s visibility in the European market and serve as a direct marketing medium in European market.

The acquired private company Phoenix Technology Solutions B.V. is located in Amsterdam and is active in the wholesale industry in computers, peripherals and software.

Phoenix Group has been investing heavily in several sectors over the past year. This is not the first half a billion investment, earlier this year UAE Phoenix Blockchain, crypto mining group purchased a total of $567 million of Bitcoin mining Hardware.

Phoenix Group PLC, also strategically invested in Lyvely, a UAE-based platform poised to reshape how creators and consumers interact and monetize online.

In November 2023 Phoenix Group, carried out the first crypto mining entity IPO in listing on the Abu Dhabi Stock Exchange.

Since then it has invested in M2 the first locally launched licensed crypto exchange out of Abu Dhabi UAE.

Phoenix Group has expanded its market presence with a crypto mining facility in Oman, and now seems to be expanding its presence and exposure in Europe.

The Hashgraph Innovation Program partners with Digipharm to redefine healthcare technology in MENA

The Hashgraph Innovation Program partners with Digipharm to redefine healthcare technology in MENA

Digipharm, a value-based healthcare ecosystem dedicated to transforming healthcare procurement and patient engagement, today announces its participation in the “Hashgraph Innovation Program” driven by The Hashgraph Association, the not-for-profit accelerating adoption of the Hedera network globally. As a revolutionary step in blockchain technology and decentralised application development, this partnership will significantly bolster the capabilities and outreach of Digipharm’s Reimburse and Digihealth platforms.

DigiPharm works with UAE based Burjeel Medical City. In 2022, Burjeel Medical City (BMC), and Digipharm joined hands to design and validate a new model for patient care in the UAE. The new platform, will focus initially on the Bone Marrow Transplantation program and will later expand to other specialties at the hospital.

Digipharm is an industry leader in the value-based healthcare arena. Its flagship product, Reimburse, stands out as a pioneering value-based procurement platform which has been adopted by government clients spanning from the UK to the Middle East.

Additionally, esteemed private hospital groups are leveraging Reimburse to redefine their healthcare offerings. Digihealth, another element of Digipharm’s offering, is curated as a patient engagement ecosystem. Its primary aim is to enhance patient preference and engagement, ensuring that healthcare decisions resonate with the needs and insights of the very individuals they impact.

The Reimburse and Digihealth platforms, key innovations by Digipharm, align perfectly with the core objectives of the Hashgraph Innovation Program. These platforms, built to redefine patient-centric care and healthcare finance, will greatly benefit from the innovation program. With the support from the Hedera network, both platforms will undergo extensive ideation, proof-of-concept modelling, and minimum viable product (MVP) development, ensuring that they stand at the forefront of healthcare technology.

Kamal Youssefi, President of The Hashgraph Association, said; “We are thrilled to welcome Digipharm to the “Hashgraph Innovation Program”, pioneering the way towards value-based healthcare. This partnership will catalyse new and innovative ways to accelerate decentralised solutions on the Hedera network, while identifying real-world use cases. We’re confident that by providing the funding and support to Digipharm, we’ll help bring the benefits of DLT to healthcare systems worldwide.”

Speaking on this significant partnership, Ahmed Abdulla, CEO at Digipharm, commented, “Joining the Hedera Hashgraph Innovation Program is a monumental leap for Digipharm. We are eager to harness the extensive resources and expertise from this collaboration to further enhance Reimburse and Digihealth, ensuring we deliver unmatched solutions in healthcare.”

As part of this esteemed group, Digipharm is set to benefit from the vast network, financial support, and unparalleled expertise provided by the Hashgraph Association. This collaboration solidifies Digipharm’s commitment to integrating top-tier blockchain solutions into healthcare, creating a brighter and more sustainable future for the sector.

UAE HAYVN receives VASP license from European jurisdiction

UAE HAYVN receives VASP license from European jurisdiction

UAE based HAYVN, a digital asset payment, trading, custodian service provider regulated in the UAE, Cayman Islands, Australia, British Virgin Islands, has also received a VASP ( Virtual asset service provider) license from European jurisdiction, Lithuania.

The Lithuanian Financial Crime Investigation Service (FNTT) has provided HAYVN with a VASP license.

According to HAYVN, by obtaining the VASP license from the Lithuanian regulators, HAYVN is further equipped to offer its suite of services throughout Europe.

“We are delighted to have obtained the VASP license from Lithuanian regulators,” said Christopher Flinos, CEO of HAYVN. “This achievement solidifies our position as the trusted and compliant European cryptocurrency provider, enabling us to deliver innovative solutions to clients across Europe. HAYVN remains committed to upholding the highest standards of regulatory compliance and security, as we continue to expand our presence and contribute to the growth of the digital asset ecosystem globally.”

Leago Papo, Director of Compliance and Regulatory Affairs at HAYVN, added, “Obtaining the VASP license from Lithuanian regulators is a significant milestone. We have worked diligently to ensure that our operations adhere to the most rigorous compliance standards. This license reaffirms our commitment to maintaining regulatory compliance across multiple jurisdictions and showcases our dedication to building trust with our clients and regulators alike.”

UAE Based VAF Compliance democratizes crypto compliance with telegram bot

UAE Based VAF Compliance democratizes crypto compliance with telegram bot

UAE based VAF Compliance, a virtual assets and fintech compliance firm has launched a telegram bot service that assesses the risks associated with accepting cryptocurrency as payment.

VAF Compliance’s Telegram Bot can help individual clients and small businesses avoid situations where they may unknowingly accept tainted funds. With this service, VAF Compliance aims to democratize access to AML solutions to all users, who now can assess risks before accepting crypto, receive a clear and user-friendly report, understand the risks associated with interacting with other wallets, and prevent the receipt of crypto with criminal origins.Crypto exchanges, the entry point to cryptocurrencies, are particularly vulnerable to compliance issues. To maintain compliance, the implementation of robust Know Your Customer (KYC) and Anti-Money Laundering (AML) policies is essential.

While recent sanctions against entities providing money laundering services to criminals have had a positive impact, alternative money laundering services may still be found, highlighting the need for robust KYC and AML policies in the crypto industry.

The bot is now available in English and Chinese (Mandarin) and will cover over 45 blockchains. It also provides an easy-to-read report to understand the risk level prior to accepting any funds in the user’s wallet. 

 In addition, users have the option to pay fees per report or package, and if they refer the service to others, they can receive free reports that cover more than 70 different risk parameters.

“We are very excited to launch our newest solution, the VAF Compliance Bot service, which provides an easy-to-use, yet comprehensive solution for individuals and small businesses looking to navigate the complex world of crypto compliance,” said Gilson Ribeiro Da Costa, CEO of VAF Compliance.

“We believe our innovative solutions will help our clients achieve their compliance goals, while also enhancing the overall reputation and credibility of the crypto industry.”

Not only does the company offer support to clients in the MENA region, but it also extends its services in countries such as Turkey, Africa, and Europe. In fact, the company has announced its expansion to Switzerland and the establishment of its office in Zug. The team will be led by Farzaad Gaibie, a seasoned financial services consultant with extensive industry knowledge and experience.

The expansion to Zug will enable VAF Compliance to better understand the needs of its clients and offer tailored solutions that meet their unique requirements.

UK based InfoDriver to launch $10 million DeFi, GameFi, AI fund targeting UAE startups

UK based InfoDriver to launch $10 million DeFi, GameFi, AI fund targeting UAE startups

UK investment company InfoDriver Capital is launching a $10 million fund for DeFi, GameFi and AI startups targeting UAE, UK, Europe and USA.

The company has expertise in supply chain solutions, automated lending platforms, exchanges, DeFi, and AI applications including digital identity, authentication, content generation, and has already developed successful technology products over seven years.

InfoDriver Capital anticipates a 3-5x return on investment in just 2-4 years and is currently seeking experienced and accredited investors with a minimum investment requirement of $100,000. The investment strategy charges only 5% investments and diversifies the total portfolio of the startups from Seed to A round with a working revenue model and user base.

According to Kirill Mishanin, CEO and Founder of InfoDriver Capital stated, “Investing in startups in the Web3 space is a wise decision, as it is the future of the internet. InfoDriver Capital is committed to shaping that future by supporting innovative startups in this field. We are thrilled to be able to support these innovative startups and help them reach their full potential. We believe that Web3 is the future, and we are committed to helping shape that future by investing in startups that are working on innovative solutions.”

Infodriver Capital has already identified several promising startups, including Certhis wallet with utility collections, Aspis DAO asset management, Banger’s gaming DeFi, Toscale’ super app for liquidity and social trading, Main’ community-building platform, Stage’ only-music-fans for Zen Z, and Babylon Voice for Metaverse as Media Wallet with Digital ID – VoicePrint, that is Face ID did for iPhone.

Blockchain Valereum’s acquisition of Gibraltar Stock Exchange to help Middle East and African entities access crypto capital

Blockchain Valereum’s acquisition of Gibraltar Stock Exchange to help Middle East and African entities access crypto capital

UK based Blockchain company Valereum has received consent from the Gibraltar Financial Services Commission (“GFSC”) to complete the acquisition of the Gibraltar Stock Exchange (“GSX”). Valereum will utilize GSX to expand access of early stage and small cap companies in the Middle East, India and Africa to European Capital.

In early 2022, Valereum stated that it would be purchasing 90% of the Gibraltar Stock Exchange (GSX) to create the world’s first bourse where shares and crypto assets can be traded

Valereum at the time stated that GSX would the first fully regulated bridge that links the fiat and crypto markets. As they noted at the time, “This will give listed instruments on the GSX access to a regulated pool of crypto capital that is not available anywhere else, and it will give cryptocurrency holders the ability to have a direct, verifiable holding in fiat securities.”

The recent press release notes that there is a significant gap in the available small cap markets where we will provide solutions building from the ecosystem of accelerators and incubators through a full suite of private and public markets. This will provide a new transnational access to capital.

In addition Valereum will be launching its NFT strategy in the first quarter of next year linking real world assets via NFT ownership.

Valereum also announced that its candidates for the new board of the GSX have all been approved by the GFSC. These appointments will officially take place with the completion of the change of control process. They include  Chairman: Richard Poulden, the Chairman of Valereum Plc., Executive Director: Patrick L Young, Chief Financial Officer: Jack Sun Non-Executive Directors will include Simon Brickles and James Lasry

The acquisition is expected to be completed in the first quarter of 2023.

Chairman Richard Poulden noted, “We are delighted to have received this news from the GFSC and look forward to completing the acquisition of the GSX. It is auspicious to be announcing this on the day of the Gibraltar Financial Services Lunch in London. We have ambitious plans for the GSX and for Valereum linking the fiat and digital worlds. All our expansion plans will be fully regulated in the environments in which we plan to operate. The GSX will harness proven exchange technology from established providers and will be updated with full front to back trading and clearing functionality on a significant scale and expandability.”

He adds, “Just as The Rock of Gibraltar has been a physical port for centuries, GSX will encourage a new generation of companies and assets to see Gibraltar as a virtual node in financial trade. In time we will seek an international listing for the Valereum group as we see this as a compelling investment proposition.”