ADGM amends crypto regulations to attract more VASPs

ADGM amends crypto regulations to attract more VASPs

The Financial Services Authority (FSRA) of ADGM has implemented amendments to its regulatory framework for digital assets. The implementation of these amendments follows extensive industry engagement and feedback received on Consultation Paper No. 11 of 2024, with an aim to make their regulations more comprehensive and simpler.

The focus of the implemented amendments is on revisions to the process whereby Virtual Assets (VAs) are accepted for use as Accepted Virtual Assets (AVAs) in ADGM, alongside appropriate capital requirements and fees for Authorised Persons conducting Regulated Activities in relation to VAs (VA Firms). The amendments also introduce a specific product intervention power in relation to VAs as well as enshrining rules that confirm our existing approach to the prohibition of using privacy tokens and algorithmic stablecoins within ADGM. Finally, the amendments expand the scope of investments in which Venture Capital Funds may invest.

The FSRA has updated the Guidance – Regulation of Virtual Asset Activities in ADGM to reflect the implemented measures and to provide further guidance to VA Firms in relation to applying the AVA assessment criteria.

Emmanuel Givanakis, Chief Executive Officer of ADGM’s FSRA said, “The implementation of these changes marks a significant milestone in the evolution of the FSRA’s framework for digital asset regulation. Through extensive consultation with industry stakeholders, we have further enhanced our framework to provide the regulatory certainty that industry participants need, while addressing the evolving risks of the digital asset ecosystem. We believe this further positions ADGM as a premier jurisdiction for digital asset-related activities and shows our commitment to fostering responsible innovation in financial services.”

Assesing the amended virtual asset regulations, Kokila Alagh noted that the amendments are a bold move to streamline digital asset regulation. She states on LinkedIN, “The Financial Services Regulatory Authority (FSRA) has transitioned from a regulator-led “Accepted Virtual Asset” approval model to a self-assessment regime by authorized VA Firms.”

She explains, this means authorised Persons (VA Firms) must self-assess Virtual Assets using enhanced AVA criteria; notification-only to FSRA before commencing activity; firms must publish and maintain a list of approved AVAs on their website; and ongoing monitoring to ensure continued compliance.

She added, ” The FSRA has also enhanced the assessment criteria for determining whether a Virtual Asset meets the requirements of being an AVA. The updated criteria basis includes, *Traceability & monitoring, *Security standards, *Market profile, *Exchange connectivity, DLT infrastructure, Innovation/efficiency and Practical functionality.”

Hoko advertising agency acquires UAE metaverse company Everdome

Hoko advertising agency acquires UAE metaverse company Everdome

Hoko Agency, known for its cutting-edge campaigns for global brands including Mercedes-Benz, DP World, Hublot, Red Bull, Zegna, and LVMH, has announced the acquisition of UAE metaverse company Everdome.

As per the press release the strategic acquisition supports the growth of HumAIn Assets, Hoko’s newest venture aimed at reimagining content creation through a fusion of human creativity, artificial intelligence, and community engagement.

Since its inception in 2022, Everdome has delivered metaverse experiences for partners such as OKX and Alpine Web3, while playing a key role in initiatives like the UAE government’s Jahiz program. Their success has been driven by a nimble, Web3-native approach, community-focused storytelling, and a deep understanding of immersive digital marketing.

Through this acquisition, Everdome’s $DOME token and core leadership team will integrate into HumAIn Assets, a platform designed to reshape the way digital content, from imagery to video to copy, is commissioned, created, and delivered.

At the helm of this initiative are Bally Singh, Chairman of Hoko Agency; Scott Melker, a leading voice in Web3 media; and Everdome CEO Jeremy Lopez, who brings extensive expertise in Web3 execution, creative marketing, and community engagement.

“Our mission is simple: to deliver scalable, high-quality content without compromising on emotional resonance, timing, or creativity,” said Bally Singh. “While AI can automate much of the process, the final layer, the taste, context, and timing, remains inherently human. That’s what elevates content from acceptable to exceptional.”

HumAIn Assets is being developed to strike the right balance, leveraging AI for speed while maintaining human oversight to ensure quality and relevance. Everdome’s expertise in rapid, high-impact storytelling and immersive campaigns makes it a powerful addition to this vision.

“Web2 unlocked the creator economy. Web3 introduced true creator ownership. AI brings unprecedented speed,” said Scott Melker, Co-founder of HumAIn Assets. “The real breakthrough lies in integrating all three to build a sustainable, creator-first system. This isn’t about hype, it’s about creating the future of content production.”

“In Web3, community isn’t a buzzword, it’s the backbone,” Melker added. “When your audience becomes your collaborators, you’re not just marketing to people, you’re building with them.”

Jeremy Lopez, CEO of Everdome, commented: “Everdome was built on the belief that digital experiences can be bold, creative, and community-led. Joining Hoko and contributing to the vision for HumAIn Assets gives us the opportunity to build lasting infrastructure for the future of the creative economy.”

With this acquisition, HumAIn Assets accelerates its ambition to combine the usability and scalability of Web2 platforms, hallmarks of companies like Uber, Fiverr, and Instagram, with the transparency, decentralized engagement, and payment systems of Web3, all enhanced by the capabilities of AI.

Currently in invite-only beta, HumAIn Assets is already delivering results for select clients. With live briefs, active production, and content delivery underway, the venture is moving beyond proof-of-concept and toward becoming a new industry standard.

Dubai PRYPCO Mint launches its second tokenized property

Dubai PRYPCO Mint launches its second tokenized property

On the heels of the success of the first tokenized property listing in UAE and MENA, which brought in investments of over $700K, Dubai PRYPCO, Dubai Land Department, under the regulatory overlook of Dubai’s Virtual Asset Regulatory Authority and the Central Bank of the UAE, have announced the launch of their second tokenized property worth $650K.

PRYPCO Mint will go live with the second tokenized property listing on June 11th 2025. As per the press release, the next phase not only reinforces investor confidence in fractional property ownership but also strengthens Dubai’s standing as a global pioneer in real estate innovation and blockchain-powered investment.

The new tokenized property is a one bedroom apartment in Kensington Water, at Mohammed Bin Rashid City. It has a total valuation of AED 1.5 million ( $653K) offered at a discounted rate compared to its estimated market value of AED 1.875 million.

Through fractional ownership starting from just AED 2,000, ( $540) to UAE residents holding Emirates IDs.

Amira Sajwani, Founder and CEO of PRYPCO, said, “The incredible response to our first tokenised property proved that investors are ready for a smarter, more accessible way to invest in real estate. With our second property, we’re continuing to break down traditional barriers and offer high-quality opportunities to a broader, more diverse audience. At PRYPCO, our mission is to democratise property ownership, and this is just the beginning.”

Already PRYPCO Mint which was launched on May 25th has been successful in its first offering, a two bedroom apartment in Business Bay that attracted 224 investors from over 40 nationalities, with an average investment of $2900. The first was also listed at $653,000 and was fully funded in one day.

Blockchain based certificates of Property Token Ownership were granted for the first property. Ctrl Alt powers the blockchain infrastructure, issuing secure ownership tokens on the XRP Ledger, while UAE digital bank Zand serves as the official banking partner.

Targeting tech-savvy investors, millennials, and first-time buyers, PRYPCO Mint enables digital property ownership through a mobile-first experience, transforming real estate from a traditionally slow, capital-heavy asset into a flexible, inclusive, and liquid investment.

PRYPCO Mint platform is expected to open to international investors in its next phase, further expanding Dubai’s real estate footprint as a global innovation hub.

Allo Blockchain to pilot digital identity and RWA tokenization in Qatar

Allo Blockchain to pilot digital identity and RWA tokenization in Qatar

After being admitted to Qatar’s Digital Assets Lab, Allo, a blockchain tokenization platform has announced that it will begin piloting initiatives in areas such as secure digital identity systems as well as tokenization of real world assets.

By working within the Qatar Digital Assets Lab, Allo is able to fine-tune its blockchain technologies to meet the specific demands of local markets. This includes use cases such as Islamic finance, regional data protection standards, and tokenized assets.

According to Allo, the opportunity to build and test under regulatory guidance is relatively rare and enables developers to refine applications in alignment with both legal and market realities.

Allo not only is focusing solely on technical development, it is also collaborating for, security, and regulatory adaptability. Allo’s participation supports efforts to ensure that blockchain tools are accessible, secure, and tailored to real-world financial inclusion and risk mitigation needs.

The goal is to generate actionable insights on how distributed ledger technology can strengthen financial infrastructure while maintaining compliance with regulatory frameworks.

Other partners at Qatar Digital Asset Lab such as The Hashgraph Association, are also working on five tokenization use cases.

Dubai VARA sees tokenization as a new kind of financial system

Dubai VARA sees tokenization as a new kind of financial system

Mathew White, CEO of Dubai’s Virtual Asset Regulatory Authority (VARA), recently noted on LinkedIn that the tokenization of real-world assets (RWAs) is no longer an experiment. He stated, “It’s happening right now.”

He explained how VARA views tokenization as more than a blockchain use case but rather as a structural shift and the foundation for a new kind of financial system. He explains, ” Everything from real estate and art to commodities and IP can be digitally represented, owned and exchanged in real time.”

He adds, “It’s a system of fractional ownership and near-instant settlement, where global markets are trustless, borderless, and always on. The illiquid can become liquid.”

He gives the example of BlackRock which sees tokenization as a democratization of investing. Its CEO Larry Fink envisions a world where every asset can be tokenized from stocks and bonds to entire funds.

The global tokenisation market was valued at $3.32 billion in 2024 and is projected grow to nearly $13 billion in 2032 – a CAGR of 18.3%.

He goes on to say that in Dubai, tokenized RWAs are a policy priority. He explains, “We’re building the infrastructure to make it all real – credible rules, secure frameworks, trusted intermediaries. We’re enabling the shift from analogue finance to digital ecosystems where anyone – regardless of size or geography – can participate, invest, and grow. Technology alone won’t deliver the future we want. It needs governance, credibility, guardrails, and trust.”

He notes that VARA is committed to creating a gold standard for oversight – a regulatory regime that’s clear, credible, and agile. “The idea is to protect without paralyzing. To not only supervise innovation, but to accelerate it.”

In his final words he says that Dubai intends to lead from the front.

Already Dubai has stated with the successful tokenization of real estate project with Dubai Land Department that happened a few weeks ago. In addition, the UAE Securities and Commodities Authority has licensed Emirates Coin Investment LLC (EmCoin) based out of Abu Dhabi UAE, as the first regulated integrated investment platform to offer both crypto investments as well as traditional assets such as equities, commodities, and even ICOs.

Regulated by the UAE Securities and Commodities Authority, Emirates Coin Investment will be able to serve the entire UAE.

CEO of UAE ADI Foundation talks about AEDC stablecoin

CEO of UAE ADI Foundation talks about AEDC stablecoin

In a recent interview with Abu Dhabi based ADI Foundation, CEO Guillaume de La Tour told Tahawultech about the new AED backed stablecoin, AEDC, that the foundation is working on for ADQ, sovereign wealth fund in Abu Dhabi and FAB Bank (First Abu Dhabi Bank).

The trio intend to launch a UAE Central Bank regulated AED stablecoin that will be used for making payments not only in the UAE but also internationally. Moreover the stablecoin will also be used for Machine to machine payments in the IoT domain and AI one.

According to La Tour, the AEDC stablecoin will transform UAE’s digital economy by offering fast inclusive and compliant financial services. He notes that, “It is built on a modular EVM blockchain, AEDC ensures scalability, security, and decentralization while embedding KYC/AML and FATF-compliant features to ensure privacy and regulatory compliance.”

For La Tour, AEDC is combining DeFi with traditional finance and aligns with both Abu Dhabi’s Economic Vision 2030 and ADGM’s robust regulatory framework, cementing the UAE’s role as a global fintech leader.

He explained that this is preparing the UAE for a tokenized future by digitizing the AED dirham and ensuring it is compatible with currencies like the USD, Euro and Yuan for seamless global interoperability.

In ten years, all assets, stocks, and bank accounts will be tokenized

According to La Tour in the next 10 years all assets, whether they are stocks, bank accounts, or currencies, will be tokenized to enable a 24/7 financial system. This is driven by the need for efficiency and global connectivity.

He states, “Nations are expected to increasingly tokenize their currencies to maintain sovereignty, while ensuring interoperability with blockchain-based digital financial systems. The stablecoin positions the UAE at the forefront of this transformation, leveraging its blockchain’s compliance and scalability.”

With strategic partnerships across 20+ countries, reaching nearly 500 million people, ADI Foundation bridges Web2 and Web3, integrating traditional banking with blockchain to create a compliant, inclusive ecosystem that supports economic diversification and innovation. 

The ADI Foundation is working to drive global financial inclusion by deploying a blockchain with locally validated compliance at Layer 3, tailored to each region’s regulations.  

Partnering with cutting-edge providers, La Tour notes that the ADI Foundation ensures localized infrastructure and AI integration on the blockchain, empowering communities with secure, scalable solutions.  

 He adds, “Unlike traditional blockchain solutions, ADI’s modular EVM-based platform integrates a dedicated Layer 3 compliance sublayer, ensuring adherence to local and international regulations, including KYC/AML and FATF standards. Real-time monitoring and decentralized identity (W3C-compliant) further enhance security, mitigating risks like cybercrime and fraud. This robust, transparent framework reassures stakeholders by aligning cutting-edge technology with regulatory rigor, making the stablecoin a trusted tool for seamless, scalable financial operations.” 

He gives the example of their collaboration with East Africa’s M-PESA enables 70 million users to convert mobile money into a stablecoin backed by an African currency, facilitating secure, low-cost cross-border transfers and real-time currency conversion.  

Similarly, ADI Foundation’s work with UK-based Esyasoft, revolutionizes the carbon credit market by leveraging blockchain for transparent, efficient trading to support sustainability goals, with 57 trillion transactions aimed at reducing the carbon footprint of 2 billion people.  

Upcoming stablecoin challenges

 La Tour sees three main challenges to stablecoins when it comes to regulations. The first is navigating complex regulatory landscapes because of the diversity and evolving regulatory policies across jurisdictions.
 

He states, “Governments often grapple with balancing innovation against risks, like money laundering, tax evasion, and financial instability, leading to fragmented or restrictive regulations.  For instance, ensuring compliance with varying KYC/AML requirements globally, while maintaining blockchain’s decentralized ethos, is a technical and diplomatic hurdle. ADI Foundation addresses this by integrating a Layer 3 compliance sublayer into its modular EVM blockchain, enabling localized regulatory alignment without compromising scalability or security. 
The second challenge is ensuring interoperability and technological disparities which includes interoperability between stablecoins and existing financial systems.  

However, he addresses this issue stating that ADI Foundation is tackling this by designing native support for cross chain compatibility.

He explains, “For example, our collaboration with regional tech firms ensures blockchain nodes and AI-driven services operate efficiently even in low-resource environments, fostering inclusivity and operational reliability.”

The final challenge is building public and institutional confidence because of the skepticism around digital currencies. He notes that governments and investors may hesitate to adopt stablecoins, fearing economic disruptions or technical vulnerabilities.  

ADI Foundation counters this by anchoring the Dirham-backed stablecoin to the stable UAE Dirham and implementing robust cybersecurity measures, such as real-time transaction monitoring and W3C-compliant decentralized identity.  

Web3 game, MetaSpace secures license in RAK Digital Assets Oasis

Web3 game, MetaSpace secures license in RAK Digital Assets Oasis

MetaSpace, an immersive Web3 Play-to-Earn (P2E) game built on Polygon Blockchain, has secured a business license from RAK Digital Assets Oasis (RAK DAO) as a Gaming Studio and Metaverse Service Provider.

As per the press release, the achievement marks a significant milestone in the project’s journey and underscores its dedication to creating a secure, compliant, and globally scalable gaming ecosystem.

MetaSpace offers a dynamic, open-world gaming experience driven by a decentralized, token-based economy. Players can earn, trade, and own in-game assets, including customizable avatars, rare digital collectibles, and NFTs that enhance gameplay and progression. The game blends action, strategy, and exploration to create a deeply engaging universe, empowering players to compete, collaborate, and craft their own unique experiences.

At the heart of the platform is its decentralized NFT marketplace, where players can freely buy, sell, and trade digital assets. Whether flipping NFTs for profit or staking them for high-yield returns, users actively contribute to the in-game economy. The game’s Play-to-Earn model transforms time spent in the game into real rewards, allowing players to shape and benefit from the game’s evolving economy, turning participation into tangible value.

“Securing the RAK DAO license is a key milestone for MetaSpace,” said Mo Akram, the founder. “It gives us the confidence and framework to grow responsibly and scale our P2E ecosystem across borders.”

UAE Fintech group Equiti and Dubai Digital Asset Association partner

UAE Fintech group Equiti and Dubai Digital Asset Association partner

MENA based Equiti Group, a global online trading and fintech innovation with licenses in UAE, UK and Cyprus, has partnered with UAE based D2A2 (Dubai Digital Asset Association), the MENA platform for regulatory discourse on tokenized real-world assets, to create a secure, transparent, and future ready digital asset ecosystem.

The alliance seeks to work to evolve the digital asset regulatory frameworks in the MENA region working with industry leaders, regulators policy makers and other key stakeholders such as the private sector.

“Finance should work for everyone, not just those with legacy access. Partnering with D2A2 gives us the opportunity to engage in meaningful dialogue with fellow industry leaders, share insights, and help shape a more inclusive financial future,” stated Iskandar Najjar, Equiti Group CEO & co-founder. “It’s about building a community where innovation is driven collectively, and access to opportunity is expanded through collaboration.”

Equiti brings deep experience in regulated finance, global market infrastructure and fintech solutions across EMEA. D2A2, meanwhile, is uniquely positioned as a regulatory thought leader, providing a trusted forum for exploring secure digitisation of real-world assets, including property, commodities, and income-generating instruments.

Together, the two organizations will champion collaboration for sustainable tokenized finance in the region. “Our collaboration with Equiti represents a significant step in furthering our commitment to stakeholder engagement and ecosystem development,” added Gaurang Desai, Chairman of D2A2. By fostering constructive dialogue and supporting responsible innovation, we aim to strengthen Dubai’s position as a global hub for digital assets.”

The Equiti-D2A2 partnership will focus on four core pillars, driving industry-regulator dialogue to foster balanced growth of the digital asset sector, contributing to policy clarity on tokenization, custody, and cross-border innovation, elevating financial literacy on blockchain and real-world asset tokenization and bridging TradFi and DeFi through infrastructure that unites security with agility.

Ctrl Alt tokenization platform gets licensed in UAE

Ctrl Alt tokenization platform gets licensed in UAE

Ctrl Alt, a tokenization infrastructure platform, has secured a Virtual asset broker dealer license as well as issuer license from Dubai’s Virtual Assets Regulatory Authority (VARA). As of May 1, 2025, Ctrl Alt has tokenized over $295 million in assets, spanning real estate, private credit, funds, litigation finance and more.

As per the press release Ctrl Alt is the first VASP authorized to conduct issuer-related services. This milestone marks a significant step in Ctrl Alt’s global expansion and highlights its commitment to operating within robust regulatory frameworks. The virtual asset issuer license allows Ctrl Alt to operate a full-stack, regulatory-compliant platform for the creation, management and distribution of tokenized real-world assets and ARVA tokens.

ARVA tokens are defined under Dubai law as representing direct or indirect ownership of real-world assets, granting entitlement to receive or share income and purporting to maintain a stable value by reference to real-world assets or income. ARVA tokens are also backed or collateralized by such real-world assets or constitute a derivative, wrapped, duplicated, or fractionalized version of another ARVA.

Ctrl Alt recently demonstrated its solution with its partnership with Dubai Land Department for their real estate tokenization project. Ctrl Alt created the framework to mint and place real estate tokens on-chain. PRYPCO Mint, the first licensed real estate tokenization platform, in partnership with Dubai Land Department, Dubai’s Regulatory Authority, and powered by Ctrl Alt blockchain, issued the region’s first property token ownership certificate. The fully funded property attracted 224 investors from over 40 nationalities, with an average investment amount of AED 10,714, underscoring the platform’s wide appeal and the growing appetite for accessible, tech-enabled real estate opportunities in the region.

“We are proud to receive our VARA license and establish fully regulated operations in the UAE,” said Matt Ong, Founder and CEO at Ctrl Alt. “This achievement reflects our commitment to long-term regulatory alignment as we power the infrastructure for the next generation of financial products.”

“Securing our VARA license marks a pivotal moment not just for Ctrl Alt, but for the broader digital asset ecosystem in the region,” said Robert Farquhar, Head of MENA at Ctrl Alt. “Dubai’s progressive regulatory environment provides a strong foundation for innovation in tokenization and we’re proud to contribute to that vision by delivering secure, compliant tokenization infrastructure for real-world asset issuance.”

Solana Foundation and Dubai’s VARA to collaborate on virtual asset innovation hub

Solana Foundation and Dubai’s VARA to collaborate on virtual asset innovation hub

The Solana Foundation and Dubai’s Virtual Asset Regulatory Authority have signed an MOU to collaborate on not only helping founders navigate licensing through workshops, advisory sessions and practical guides but also supporting the creation of a virtual asset innovation hub in Dubai that will offer policy feedback and data sharing.

Additionally the two entities will work to develop talent, provide economic impact reports, as Dubai positions itself as a forward thinking crypto jurisdiction.

Solana Foundation on LinkedIn noted, “Dubai continues to position itself as one of the most forward-thinking crypto jurisdictions in the world. We’re proud to support that vision and help founders, teams and investors plug into this growing ecosystem.”

Dubai VARA also on LinkedIn added, “We’re proud to formalise our partnership with the Solana Foundation through a newly signed MoU by our CEO, Matthew White, and Lily Liu, President of the Solana Foundation. From regulatory education and talent development, to data-sharing and co-creating the Solana Economic Zone in Dubai – this partnership reinforces our commitment to building a transparent, innovation-first environment for the virtual assets sector.”

Earlier this week Dubai VARA also signed an agreement with Sui Hub for similar initiatives.