Egypt makes up 30 percent of Weex crypto exchange MENA customers

Egypt makes up 30 percent of Weex crypto exchange MENA customers

WEEX crypto exchange, which has over 6 million customers globally, has announced that since it started serving the MENA region in January 2025, it has witnessed expansive growth especially in countries such as Egypt, Algeria, Iraq, Morocco and Saudi Arabia.

Egypt has the highest number of users on WEEX crypto exchange making up 30 percent of their total MENA customer base, while Algeria follows at 17.3 percent, Iraq and Morocco making up 7-8 percent respectively.

Surprisingly Saudi Arabia customers are just 6.2 percent of their total MENA customer base. All numbers are founded on data up to March 31st, 2025.

While the number of customers still make up less than 1 percent of their total customer base, WEEX has showcased their commitment to the MENA region, launching their headquarters in the UAE as part of MENA expansion plans.

The Dubai headquarter currently houses 600 employees and is expected to add 50 more hires over the next two years. 

Andrew Weiner, Vice President of WEEX, stated, “We have witnessed impressive growth in our MENA customer base since we began offering our services in January 2025, this showcases the attraction that crypto has in the region especially in countries in North Africa, and the GCC. We will continue to expand our offering to support the MENA region while we seek to acquire regulatory licenses.”

He adds, “We believe that everyone should be able to access the crypto market, and that crypto will play a strong role in the economies of the future especially in the Middle East. We hope to serve our clients with the utmost security, transparency, and offering.”

WEEX already serves 6.2 million customers across 130+ countries. The crypto exchange has a daily trading volume of over $5 billion and supports more than 1,700 trading pairs. WEEX also boasts of a 1,000 BTC Protection Fund to protect users’ assets. In MENA the crypto exchange is offering Arabic language support through chatbot on their website, submitting a ticket on the website as well as through their telegram community.

Fred, MENA Regional Manager, WEEX, noted, “As traditional markets wrestle with inflation and uncertainty, crypto stands as a beacon of innovation, offering a glimpse into a more resilient, decentralized financial future.”

WEEX is currently participating and sponsoring TOKEN2049 Dubai event being held in Dubai UAE between April 30th and May 1st, 2025.

The Chainalysis 2024 crypto geography report noted that the MENA region has become the seventh largest crypto market globally. The biggest two countries being Turkey and Morocco, while the fastest growing countries were Saudi Arabia and Qatar. Saudi Arabia remained the fastest-growing crypto economy in the MENA region in 2024, growing by 154% year-over-year.

According to Statista, in Egypt, the number of users in the cryptocurrencies market is expected to reach 11.30m users by 2025. The user penetration rate is expected to be 9.72% in 2025.

Australian NotCentralised to develop Blockchain certification attestation process for Qatar Government

Australian NotCentralised to develop Blockchain certification attestation process for Qatar Government

NotCentralised, an Australian based tech company that utilizes blockchain technology to offer solutions, has been selected by the Qatar Research, Development, and Innovation Council (QRDI), acting through Qatar Foundation, to lead and deliver a blockchain Optimization of Certification Attestation Process project.

As per the announcement, this initiative aims to design a state-of-the-art attestation flow leveraging emerging technologies for the benefit of Qatar in partnership with RedBelly Network a premier blockchain team and Microsoft. The team will use blockchain technology in certification attestation for Qatar.

As a specialist in emerging technologies, NotCentralised has deep expertise in Blockchain, Tokenization, and Generative AI. Our team has contributed to high-profile projects, including CBDC pilots for the Reserve Bank of Australia and Generative AI implementations for Sydney’s largest Primary Healthcare Network.

NotCentralised won the the first challenge, titled “Certification Attestation Process – Optimization through Blockchain Technology,” which aimed to address various issues associated with the current manual certification verification process, such as workforce requirements, extended processing times, semi-automated university and government systems, high costs, intricate procedures, susceptibility to errors, degree forgery, and unauthorized verification.

The initiative is supported by The Qatar Research, Development, and Innovation (QRDI) Council’s flagship program, Qatar Open Innovation (QOI), launched the Open Innovation Opportunities in partnership with the Ministry of Labour (MoL) in Qatar.

This collaboration represents a significant milestone to enrich the technology sector and promote innovation. QRDI’s QOI program, known for its dedication to fostering innovation, introduces an Innovation Opportunity geared towards transforming the certification attestation process and document analysis for Qatar’s Ministry of Labour.

There was also a second challenge, titled “Artificial Intelligence Driven Document Analysis for Qatar’s Ministry of Labour,” focuses on improving the efficiency of the Ministry of Labour’s operations. Manual document analysis has been time-consuming, labour-intensive, and error prone. By adopting AI-driven solutions, MoL aims to modernize its processes, reduce manual labour, and enhance efficiency, with a primary focus on contract analysis in the Arabic language.

UAE Cequire Capital invests half a million in crypto trading platform TX24

UAE Cequire Capital invests half a million in crypto trading platform TX24

Cequire Capital, a UAE-based investment firm specializing in blockchain and digital asset ventures, has announced a capital injection of $500,000 into digital asset platform TX24.

As per the press release, this capital injection is part of Cequire’s mission to empower cutting edge crypto ventures. The investment will support TX24’s global expansion to offer secure and accessible digital asset services.

TX24 is a secure and scalable cryptocurrency platform offering fast, low-fee digital asset transactions for users around the globe. Designed for both beginners and advanced traders. It provides tools for buying, selling, storing, and managing cryptocurrencies delivered through a simple and powerful interface.

“We invest in platforms that are building tomorrow’s crypto experience–not just riding hype cycles,” said the CEO of Cequire Capital. “TX24 demonstrates a rare mix of usability, innovation, and readiness to scale. Our investment reflects our belief in their long-term potential and our shared commitment to a decentralized financial future.”

TX24 isn’t just a trading venue, it’s a flexible digital finance ecosystem. Funding options include credit cards, bank transfers, and instant deposit methods, making it easy for first-timers to get started. Once funded, users can buy, sell, and manage assets like Bitcoin, Ethereum, and a wide range of altcoins. For advanced users and institutional traders, TX24 Pro unlocks a host of additional features: customizable dashboards, API access, low latency for high-volume execution, and transparent, flat-fee pricing structures.

Using the investment TX24 will make major platform enhancements, such as additional trading pairs streamlined performance, and improved mobile capabilities. It will also expand its liquidity to enable more stable trading markets as well as focus on growing its footprint in emerging markets.


Alps Blockchain expands Oman mining operation to 150 Megawatt

Alps Blockchain expands Oman mining operation to 150 Megawatt

Alps Blockchain, an Italian company that builds and operates mining farms to contribute to the development of new technologies and support the evolution of the energy sector, combining innovation and efficiency, has announced that it has expanded its mining operation from 10 Megawatt to 150 Megawatt in Oman.

As per the post, this scale up follows their successful completion of the first phase. The company notes that this growth represents a key strategic milestone in the company’s path toward international expansion, reaffirming its commitment to investing in high-efficiency infrastructure and in markets with strong growth potential.

Launched in 2024, the project initially involved a 10-Megawatt phase, successfully completed in the first half of last year. The second phase is now taking shape: with the arrival of new containerized units, the site has been significantly upgraded to support a much broader operational capacity of 150 Megawatts, making it the largest in the country.

In July 2024, Azimut, an independent, global group in asset management, wealth management, investment banking and fintech, completed a new club deal to invest in Alps Blockchain totaling $156 million to be used for Alp Blockchain growth initiatives of which Oman was one.

The 150 MGW phase has been under construction since January 2025 in Salalah through the subsidiary Alps Middle East SPC in partnership with Green Data City.

UAE regulated OKX pilots crypto collateral mirroring with Standard Chartered

UAE regulated OKX pilots crypto collateral mirroring with Standard Chartered

Standard Chartered and UAE regulated OKX, a cryptocurrency exchange have launched collateral mirroring program, enabling institutional clients to utilize cryptocurrencies and tokenized money market funds as off-exchange collateral for trading under a pilot overseen by the Dubai Virtual Asset Regulatory Authority (VARA).

As per the press release, the initiative significantly enhances security and capital efficiency for institutional clients by using a Globally Systemically Important Bank (G-SIB) as the custodian for their collateral.

Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered said: “We understand the critical importance of robust and secure custody solutions, especially in the evolving digital asset landscape, and our collaboration with OKX to enable the use of cryptocurrencies and tokenised money market funds as collateral represents a significant step forward in providing institutional clients with the confidence and efficiency they need. By leveraging our established custody infrastructure, we are ensuring the highest standards of security and regulatory compliance, fostering greater trust in the digital asset ecosystem.”

The collateral mirroring capability has been launched as a Pilot within the Dubai Virtual Asset Regulatory Authority’s (VARA) regulatory framework, and it allows clients to benefit from enhanced protection against counterparty risk, a significant concern in the current digital asset markets.

Standard Chartered acts as the independent, regulated custodian in the Dubai International Financial Centre (DIFC), regulated by the Dubai Financial Services Authority, ensuring the safe storage of the assets used as collateral, while OKX through its VARA regulated entity, manages collateral and facilitates transactions. Franklin Templeton will be the first in a series of money market funds that will be offered under the OKX-SCB program.

Hong Fang, President of OKX, added, “As the digital assets ecosystem becomes more ingrained within traditional finance, we strive to both drive growth and safeguard client assets in the most capital efficient manner. By leveraging Standard Chartered’s position as a top custodian globally, as well as OKX’s market leadership in cryptocurrency trading, the partnership sets an industry standard for current and potential institutional clients to deploy trading capital at scale in a trusted environment.

Franklin Templeton, a recognised leader in tokenisation and real world assets (RWA), continues to innovate by leveraging blockchain technology to deliver cutting-edge solutions to customers and clients. Through this collaboration, OKX clients will gain access to on-chain assets developed by Franklin Templeton’s Digital Assets Team, seamlessly integrating them into their financial and operational structures.

Roger Bayston, Franklin Templeton Head of Digital Assets, says “Leveraging blockchain technology, our platform is built to support the dynamic and ever-evolving financial ecosystem. We take an authentic approach, from directly investing in blockchain assets to developing innovative solutions with our in-house team. By ensuring assets are minted on-chain, we enable true ownership, allowing them to move and settle at blockchain speed – eliminating the need for traditional infrastructure.”

Brevan Howard Digital, the dedicated crypto and digital asset division of Brevan Howard, a leading global alternative investment manager, is among the first few institutions to onboard onto this pioneering programme, highlighting the importance of such capabilities being offered by a leading international cross-border bank and a highly reputable global exchange.

Ryan Taylor, Group Head of Compliance at Brevan Howard and CAO of Brevan Howard Digital, commented: “This program is the latest example of the continued innovation and institutionalization of the industry. As a significant investor in the digital assets space, we are thrilled to partner with industry leaders to further grow and evolve the crypto ecosystem globally.”

Binance payment service company BPay receives license in Bahrain

Binance payment service company BPay receives license in Bahrain

The Central Bank of Bahrain (CBB) has granted BPay Global B.S.C.(c) (BPay Global), a Binance Group payment services company, a Payment Service Provider (PSP) license to operate in the Kingdom of Bahrain. Binance customers will be able to top up and withdraw on an e-wallet fiat currency, as well as custody their fiat and crypto and make payments.

As per the press release, the PSP license will allow BPAY to offer fiat services to Binance customers globally, including fiat top ups and withdrawals, custody and other payment services. This will enable Binance customers to open an e-wallet and make fiat top ups on the Binance platform through bank transfers and debit/credit card payments. The license will also allow BPay Global to custody fiat on behalf of customers.

Commenting on this announcement, Mr. Abdulla Haji, Director of Licensing Directorate at CBB, said “We are pleased to announce the issuance of a license to a new payment service provider in Bahrain. This license represents a positive step in enhancing Bahrain’s digital payments ecosystem, particularly in its support for crypto-related sector as well as fiat payment solutions. The CBB remains committed to enabling a dynamic and progressive payment landscape that aligns with global advancements in financial technology.”

Mr. Tameem Almoosawi, General Manager of Binance Bahrain and BPay Global, commented: “We are glad to announce the launch of BPay Global and the first Payment Service Provider license received by a Binance company, allowing it to act as a payment service provider and e-wallet provider for users around the world. With this license, BPay Global will provide Binance users with further choice of low-cost fiat on- and off-ramps.”

Binance had previously received a license from the Central Bank of Bahrain back in 2023 and was able to offer crypto payments through Binance Pay.

LIV Bank in UAE launches first crypto trading campaign

LIV Bank in UAE launches first crypto trading campaign

Liv Bank, the first digital bank in UAE, and a subsidiary of Emirates NBD on its website, has launched its first crypto trading campaign in the UAE, spurring the first outright competition between UAE banking sector and crypto exchanges.

While Liv Bank announced their foray into the crypto trading arena back in March 2025, it is only now that they outrightly showcased it on their website and announced their first campaign.

Utilizing services of both Aquanow crypto exchange in the UAE, as well as Zodia Custody services, UAE Liv Bank have showcased themselves as a trusted partner to invest in crypto. UAE Liv Bank, explains how users in the UAE can trade securely with the Liv app for fees as low as 0.5% with guided modules and the security that Emirates NBD Bank brings.

In its crypto trading campaign, Liv Bank is offering every trade placed of order value USD 50 or more one entry into each of the draws. As they noted, “The more the trades, the better your chances to win! Offering prizes of 100,000 AED during the months of May and June 2025.

Users will be able to trade crypto assets such as Bitcoin, Ethereum, Solana, Cardano, Ripple and others.

According to Liv Bank they have simplified the crypto trading process. There are no seed phrases or downloading digital wallets, all users need to to is use the Liv app, As they note, “With Liv, you can begin with small denominations, learning and growing as you go through guided modules that are designed to help you make informed decisions.”

All users have to do is sign up or log in to the Liv X app, Click on the Wealth tab then simply click Apply on the Crypto tile, and fill out the requested details, and submit. Then users can start accessing all their crypto investments.

In March 2025, Liv digital bank a part of Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, announced the launch of their cryptocurrency offering within its mobile banking app – Liv X allowing users to buy sell custody and trade cryptocurrencies in partnership with Aquanow, a UAE regulated crypto asset exchange and Zodia Custody also regulated in the UAE.

At the time Liv digital bank noted that it was committed to introducing innovative products to its customers and this new cryptocurrency offering, with crypto infrastructure operated by Aquanow and custody services performed by Zodia Custody.

UAE Digital Bank implements Infosys Finacle on Microsoft Azure to integrate TradFi and DeFi

UAE Digital Bank implements Infosys Finacle on Microsoft Azure to integrate TradFi and DeFi

Infosys an Indian multinational technology company that offers business consulting, information technology, and outsourcing services, utilizing its Finacle product offering on Microsoft Azure has provided the first digital bank in UAE (they did not name the bank), which could be Liv Bank, a subsidiary of Emirates NBD, given it has publicized itself as being the first digital bank in the UAE, with Finacle on Cloud, a cloud-native solution that accelerates cloud adoption which works to toward digital banking, integrate decentralized finance (DeFi) into their operations.

As per a Microsoft blog post, the first licensed digital bank in the UAE, aimed to tap into the power of advanced data capabilities to simplify and upgrade the customer experience and provide secure, reliable, and innovative solutions through blockchain and AI technologies. After evaluating various technology platforms, looking for capabilities that would help them successfully integrate traditional finance (TradFi) and DeFi. Their ultimate goal being to redefine the banking landscape by streamlining financial services and integrating AI and blockchain technologies into their operations. To accomplish this, they were seeking a composable architectural design and event-driven API on a cloud-native platform that offered agility and security.

The blog adds, ” Ultimately, after comparing many solutions, they decided they wanted to go beyond the traditionally defined core systems so many financial institutions rely on, and they instead adopted Finacle on Microsoft Azure, thanks to its functional richness, market-specific experience, long-term viability, operational performance, total cost of ownership (TCO), and flexibility.”

“A customer-centric revolution is reshaping corporate banking,” said Sriranga N. Sampathkumar, VP and GM – Middle East and Africa, at Infosys. “This bank is spearheading this change with AI, actively shaping the future of banking through innovation and the strategic integration of digital assets.”


Sampathkumar explained, “The bank’s swift evolution from a digital to an AI-driven bank was made possible by the seamless deployment of the Finacle on Azure.”

Using Finacle the bank can process a vast amount of data and perform sophisticated analytics—all resulting in the ability to innovate and integrate emergent technologies like AI, blockchain, and digital asset management and sit at the forefront of the digital banking evolution.

They also report that Microsoft Azure has been a crucial part of their solution; choosing Azure has reportedly provided them with a high-performing, scalable, and secure foundation upon which to build the bank of the future. The bank has active connectivity and immediate recovery from one site to another, due to the cloud footprint offered by Azure, including Microsoft datacenters in Dubai and Abu Dhabi.

“By using the combined strength of Finacle’s innovative solution suite and Microsoft Azure’s robust cloud platform, this digital bank delivers a distinct, world-class experience, showcasing the essential agility, flexibility, and resilience needed to transform banking,” Sampathkumar said.

This comes as the UAE Bank Federation showcases how UAE banks are moving into the smart banking era with AI and Blockchain technologies among others.

Meedaf an AI and Blockchain financial services venture owned by UAE ADCB bank launches

Meedaf an AI and Blockchain financial services venture owned by UAE ADCB bank launches

UAE Abu Dhabi Commercial Bank (ADCB) has launched Meedaf, a pioneering Blockchain and AI enabled financial services venture designed to help banks and financial institutions across the UAE and GCC region enhance operational efficiency, reduce costs, and remain competitive through innovation and advanced technologies.

Operating as an independent entity within Abu Dhabi Global Market (ADGM), Meedaf focuses on providing specialized solutions to streamline financial operations, strengthen security, and improve customer experience. Key offerings include AI-driven automation for collections, risk assessment, and regulatory compliance, blockchain-enabled security to enhance fraud detection, as well as transaction security and predictive analytics to optimize financial processing and improve service efficiency.

As per the press release, Meedaf will also deliver customer-centric digital solutions, such as loyalty program management, designed to drive client engagement and improve overall service delivery.

Ala’a Eraiqat, Group CEO of ADCB, commented, “Meedaf marks a pivotal milestone in ADCB’s evolution beyond traditional banking, reinforcing our commitment to innovation and transformation. By delivering scalable, innovative solutions for institutions across the GCC, this initiative is a bold statement of our vision for an agile and efficient financial sector. Our objective is to help unleash the industry’s potential to drive significant positive impact across the wider economy.”

To drive its ambitious agenda, Eng. Abdulla Abdul Aziz AlShamsi, Managing Director and CEO of Meedaf, will lead the company’s strategic direction and growth while continuing his role as ADCB’s Group Chief Business Officer.

Eng. Abdulla Abdul Aziz AlShamsi, Managing Director and CEO at Meedaf, commented, “I am honored to lead Meedaf in shaping the future of financial services. By leveraging ADCB’s expertise and forming strategic partnerships, we are dedicated to building a regional hub for financial innovation, delivering world-class solutions that create tangible value for businesses and communities across the region.”

UAE Crypto exchange M2 appoints new CEO

UAE Crypto exchange M2 appoints new CEO

UAE M2, crypto exchange has appointed James Greenwood as Chief Executive Officer, Bill Qian as Managing Director, while Bijan Alizadeh remains as Board Member and Shareholder Representative all committed to expanding their global userbase.

M2 is refocusing their strategy with consolidation driven by their earn product and the increasing demand for yield-oriented and financing solutions. As per the press release the company is doubling down on regulated financial services.
The crypto exchange has ambitions of building a one-stop digital asset financial service platform, serving global users from the Middle East. M2 has transformed its treasury division to cater to ultra-high-net-worth individuals (UHNWIs), family offices, and institutional clients, offering bespoke digital assets solutions tailored to their needs. The M2 team has also been bolstered with specialized expertise, further enhancing M2’s ability to deliver innovative investment options.

James Greenwood is an award-winning leader, with a proven track record in digital technology and financial services. He joins M2 from Bitstamp, the world’s longest-running cryptocurrency exchange, where he served as Chief Technology and Operations Officer. With an impressive career spanning Europe and the Middle East.

James has held several C-suite roles of pivotal importance, such as Co-Founder and Chief Technology Officer at Tandem Bank. Previously, he spearheaded digital transformation initiatives at organizations including Commercial Bank International and Zand Bank, bringing a deep understanding of fintech innovation to his leadership. In addition to his accomplishments in finance, James is a published author, the founder of an award-winning mobile games studio, and a sought-after speaker on digital disruption and innovation.

Bill Qian: Managing Director, M2, a seasoned investor and strategic leader in digital assets, AI, and financial technology, having overseen more than $30 billion in investments across the sector, previously served as Global Head of M&A and Binance Labs at Binance. Now, as Managing Director at M2, he is focused on enhancing the platform’s institutional offering, shaping bespoke investment products, structured yield opportunities, and advanced risk management solutions to serve the evolving needs of family offices, UHNWIs, and enterprises.

“This is a transformative time for M2, and we cannot wait to take on the opportunity,” said Bijan Alizadeh, Board member and Shareholder Representative. “Together with James and Bill, I look forward to re-energizing M2’s mission, while equipping the business with the tools and structures needed to drive innovation and deliver unmatched value to our customers. With a clear vision for sustainable growth and a strong foundation, M2 is poised to lead the next wave of digital asset transformation.”