BitOasis aims for full VASP license after receiving operational go ahead from from Dubai’s VARA

BitOasis aims for full VASP license after receiving operational go ahead from from Dubai’s VARA

In a blog post, BitOasis acknowledged that while it has resumed its acceptance of new clients onto the platform as a crypto broker operating under Dubai’s virtual asset regulatory authority (VARA), it is working “towards securing a full virtual asset service provider license under the supervision of VARA”.

In the blog post, BitOasis announced that the crypto broker would resume accepting new registrations retail and institutional customers starting 12 April 2024.  New users would be able to create accounts on the platform and enjoy a safe, secure and convenient way to buy, sell and trade over 60 tokens with multiple currencies, including AED, SAR, and USD.

The blog post adds,” The reopening of our platform to new retail and institutional customers is a testament to our continued dedication to serving our users in full compliance with the applicable regulatory requirements.”

BitOasis had been working since July 2023 to fulfill select conditions associated with its Operational MVP License with respect to serving Institutional and Qualified Retail Investors.

In August 2023, BitOais received an investment from Indian crypto exchange CoinDCX. At the time, Ola Doudin, Co-Founder and CEO of BitOasis said: “We are delighted to be working with CoinDCX, India’s leading crypto platform. The investment will allow us to sharpen our focus on perfecting our existing products and expanding across our markets. We are very excited about the opportunities the funding will unlock for us.”

With VARA granting renewed active operational status to BitOasis, as well as the license to crypto.com, the UAE crypto exchange regulatory landscape is now one of the most competitive in the world.

Kindly note that this article has been updated on April 14th 2024 based on VARA’s website page which noted that BitOasis hasnt received a VASP license but has now become actively operational once again.

UAE based NEOPIN launches new real world assets platform

UAE based NEOPIN launches new real world assets platform

NEOPIN Permissioned DeFi platform based in Abu Dhabi UAE, which launched the first DeFi product for the Klaytn-Finischia ecosystem, has announced a new RWA ( Real World Assets), platform that will position the protocol to become a global leading Real World Asset (RWA) DeFi protocol. The platform will combine the rich liquidity of traditional finance with blockchain technology, creating global marketability with high levels of security and regulatory compliance.

Prior to this UAE based Finschia Foundation, which works to expand public blockchain and Web3 technologies, and NEOPIN, partnered to provide decentralized exchange services.

The key objectives of the new RWA platform include the development of a dedicated RWA platform based on the order book, the expansion of innovative RWA product offerings, and the expansion of the RWA multi-chain strategy.

NEOPIN’s RWA platform is being developed as an all-in-one platform that can meet the diverse needs of institutions, users and the industry. It will provide a more intuitive and simplified solution for institutional participants to engage with RWA technology and markets without the need for a complex review process. It will also be designed with a decentralized order book to make it easy to use for global users familiar with equity or crypto exchanges.

In terms of product offerings, RWA will continue to expand its innovative product suite, with more than five RWA products in the pipeline with institutional partners that are poised to make a significant impact in the DeFi and physical markets. In parallel, we are also working on a strategy to expand the RWA issuance chain, continuing the multi-chain strategy that has underpinned the success of NEOPIN’s DeFi on a dedicated RWA platform.

In March, NEOPIN launched the platform’s first RWA-linked DeFi product and entered the $5.7 billion global RWA market in earnest. With the success of its recently launched RWA derivative products, NEOPIN’s consolidated total value locked (TVL) has exceeded USD 200 million.

“NEOPIN’s RWA platform aims to attract global institutional partners and users and then position itself as an essential infrastructure for institutions,” said Ethan Kim, CEO of NEOPIN. “With our new platform, innovative product suite and institutional acquisition, we will grow into the top tier of global RWA within two years.”

Since 2017, NEOPIN has been building its blockchain expertise and technology by participating as a node validator operator for various global blockchains, including Ethereum, Tron, Cardano, Cosmos, Klaytn, and Finschia. Last year, the company was selected as an innovative company by the Abu Dhabi Investment Office (ADIO) in the United Arab Emirates (UAE) in recognition of its regulatory compliance and expertise, becoming the first Korean blockchain company to receive direct and indirect investment, and is working with the Abu Dhabi Global Market (ADGM), a financial special zone in the UAE, to create the world’s first DeFi regulation in a public-private partnership. 

Lebanese operated money exchanger sanctioned by OFAC for crypto transfers

Lebanese operated money exchanger sanctioned by OFAC for crypto transfers

In the last week of March 2024, The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against six entities based in Lebanon, Liberia, India, Vietnam, and Kuwait.

As per the OFAC announcement, among those targeted was a Syrian national money exchanger Tawfiq Muhammad Sa’id al-Law based out of Lebanon. The Treasury Department stated that Sa’id al-Law provided Hezbollah with digital wallets to receive funds from IRGC-QF commodity sales and conduct crypto transfers.

Sa’id al-Law was also accused of facilitating financial transactions for sanctioned Hezbollah officials and providing financial services to Sa’id al-Jamal and his network.

As per the announcement, the sanctioned entities were implicated in facilitating commodity shipments and financial transactions, including cryptocurrencies for the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), the Houthis, and Hezbollah.

Furthermore, two Kuwait-based companies, Orchidia Regional for General Trading and Contracting Company and Mass Com Group General Trading and Contracting Company WLL, were also implicated in transferring money to support Sa’id al-Jamal’s network.

Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson said, “Treasury remains resolute in our commitment to deploy our tools against those who seek to fund illicit activities. The United States will continue to take action to disrupt the abuse of international energy markets to facilitate terrorist activities.”

On June 27, 2023, Israeli Defense Minister Yoav Gallant announced that Israel’s National Bureau for Counter Terror Financing (NBCTF) seized cryptocurrency from Hezbollah, and from Iran’s Quds Force. In total, the agency seized roughly $1.7 million worth of cryptocurrency and disrupted crypto “terrorism financing” infrastructure jointly run by the two organizations.

As per Chainalysis article, The NBCTF seizure focused on wallets controlled by Tawfiq Muhammad Said Al-Law, who “supposedly” worked with senior Hezbollah operators like Muhammad Qasim Al-Bazzal and Muhammad Ja’far Qasir, both of whom are sanctioned by OFAC, to operate Hezbollah’s crypto funding infrastructure.

In March 2024 as well, OFAC sanctioned a UAE registered business entity and its subsidiary for helping to build or operate blockchain based services to facilitate potential sanctions evasion on behalf of Russian nationals.

DIFC launches digital assets and smart contracts regime

DIFC launches digital assets and smart contracts regime

Dubai International Financial Centre (DIFC), the leading global financial center in the Middle East, Africa and South Asia (MEASA) region, enacts the world’s first Digital Assets Law, a new Law of Security and related amendments to select existing legislation to cater for the consequences of the new digital assets regime and revised security regime. The legislative enactments aim to ensure DIFC Laws keep pace with the rapid developments in international trade and financial markets arising from technological developments, and to provide legal certainty for investors in, and users of, Digital Assets.

Digital Assets Law – DIFC Law No. 2 of 2024

Digital Assets represent a trillion-dollar asset class and the scope for future innovation and market opportunities within it are considerable. Thus far, the primary focus in many jurisdictions has been to regulate and impose enforcement related sanctions on some of the practical applications of this asset class from a regulated financial services perspective. However, the fundamental benefits brought about by blockchain technology, the digital assets that can be created thereby, and their application across a wide spectrum of use cases will grow and become of increasing importance in a much wider context. In this regard, the broader legal questions as to the exact nature of the legal features and consequences of digital assets has very much remained open for debate on a number of key issues. International legal developments and judgments across the common law world have begun to provide some clarity in this regard but have not yet provided a comprehensive legal framework mapping out the full extent of the legal characteristics of a digital asset and how users and investors within this asset class may interact with digital assets and each other.  

Following extensive review of the legal approaches taken to digital assets in multiple jurisdictions, and a period of public consultation in 2023, DIFC is now enacting its own Digital Assets Law. 

Existing DIFC laws such as the Contracts Law, Law of Obligations, Law of Security, Law of Damages and Remedies, Trust Law and Foundations Law have also been updated through DIFC Amendment Law, No. 3 of 2024, to cater to specific issues arising in relation to this asset class. 

Updates to the Law of Obligations also provide for the use of electronic transferable records. Electronic transferable records are functionally equivalent to paper trade documents or instruments such as bills of lading, bills of exchange, promissory notes and warehouse receipts. Recognition of such documents in electronic form facilitates greater efficiencies within cross-border digital trade by increasing the speed and security of transmission of documentation and allowing for the automation of certain transactions through smart contracts.

Similarly, a great deal of innovation has taken place in secured transactions regimes internationally – particularly since the DIFC Law of Security was enacted in 2005. This includes the emergence of businesses and platforms that enable the extension of credit in, and secured or covered by, digital asset collateral arrangements, and an increasing drive to digitise international trade.  

Following consideration of regimes in other jurisdictions and, in particular, UNCITRAL’s Model Law on Secured Transaction, in conjunction with the new Digital Assets Law, DIFC is repealing the 2005 Law of Security, and replacing it with a new Law of Security to significantly amend and enhance DIFC’s securities regime. This will align the regime with international best practice and provide clarity in relation to taking security over digital assets.  In doing so, DIFC is also repealing the Financial Collateral Regulations, amalgamating the financial collateral provisions into a new chapter of the new Law of Security. 

Jacques Visser, Chief Legal Officer at DIFC Authority, said: “DIFC is excited to announce the enactment of its Digital Assets Law. We consider this legislation to be groundbreaking as the first legislative enactment to comprehensively set out the legal characteristics of digital assets as a matter of property law, and to provide for how digital assets may be controlled, transferred and dealt with by interested parties. At the same time, we are also enacting a new Law of Security, replacing the 2005 law. The revised regime is modelled on the UNCITRAL Model of Secured Transactions and significantly enhances DIFC’s securities regime to keep pace with international developments in this field and to ensure DIFC remains at the forefront of best practice.”

The new legislation came into effect on 8 March 2024 and can be accessed via DIFC’s Legislative Database: here.
The new laws reflect the Centre’s commitment to maintaining a transparent and robust legal and regulatory framework aligned with global best practice.
 

Dubai’s virtual asset regulator initially approves first stablecoin VASP

Dubai’s virtual asset regulator initially approves first stablecoin VASP

Diment, with a presence in UAE, within DMCC ( Dubai Multi Commodities Centre), a virtual asset service provider that is issuing a stablecoin backed by diamonds, has received an initial approval for a license from Dubai’s virtual asset regulatory authority (VARA). Diment will act both as a digital currency and a digital asset for store of value.

As per Diment website, the Diment Dollar is a digital product that redefines the concept of “value-security” in the financial world by reinventing the present stablecoin model. As the first Stablecoin with a fixed price of 1 USD and a token supply fully backed by the underlying diamond reserve value in USD, Diment Dollar operates in a reverse mode compared to present stablecoins by creating value first.

In a press release, Diment VA Exchange Services DMCC announced its Initial Approval from the Virtual Asset Regulatory Authority of Dubai – VARA. As per the press release, “This Initial Approval marks a significant milestone for Diment, setting the stage for future regional growth and development in the Crypto Space. While the Initial Approval is a pivotal achievement, it does not yet allow the commencement of any virtual asset activity in or from Dubai. Diment emphasizes that it is still in the process of working towards receiving the full VASP license and approval from VARA.”

“Receiving VARA’s initial approval is a testament to our dedication to regulatory compliance” said Max Weiland, CEO at Diment. “Diment is determined to launch with strict adherence to VARA’s requirements, ushering in a new era of secure and seamless access to the world of virtual assets and build a robust ecosystem that not only meets but exceeds industry standards, seeking to establish a safe and efficient gateway to virtual assets for users Locally and Globally.”

Diment VA Exchange Services DMCC is a setting up as a Broker-Dealer platform in Dubai with the aim to establish a safe and efficient gateway to virtual assets both locally and globally.

VARA has included stablecoin regulations amidst its framework, so it would seem that VARA could become the first regulatory authority to regulate a stablecoin VASP.

The supply of stablecoins circulating on blockchains is increasing, with investors adding $4.2 billion worth of dollar-pegged cryptocurrencies since the start of the month. April 2 was the biggest day for stablecoin inflows with $1.38 billion worth added, data from DefiLlama shows. It’s the biggest single-day increase since March 11 2023.

This article was updated at 13:11 GMT+3 based on information that Diment applied for a broker dealer license.

A new Crypto Custodian receives preliminary license in UAE

A new Crypto Custodian receives preliminary license in UAE

NorthStake a firm which offers safe, compliant and secure investment in Digital Assets for institutional investors as well as crypto staking and trading services has applied and received a preliminary approval for a license from Dubai’s virtual asset regulatory authority (VARA) for a license.

The news which came out on “Block Works” noted that such a license would allow the company to offer crypto custody services, custodial staking to institutional investors in the UAE.

Northstake CEO and Founder Jesper Johansen told the Block,” UAE is becoming a global frontrunner in virtual assets. Our ambition is to contribute to the growth of the crypto ecosystem in the UAE, leveraging our expertise and innovative solutions in digital asset investments to support the region’s financial institutions and our local partners on innovative digital asset products.”

Johansen also made the announcement on LinkedIn, “NORTHSTAKE has gained initial approval from Dubai’s Virtual Asset Regulatory Authority. Our ambition is to contribute to the growth of the crypto ecosystem in the UAE, leveraging our expertise and innovative solutions in digital asset investments to support the region’s financial institutions and our local partners on innovative digital asset products.”

The move comes after Northstake raised about $3 million to bolster its staking products for institutions. The company, also partnered with Coinify to serve the firm’s institutional and high net worth clients.

In a LinkedIn post made 11 months ago, Jesper Johansen stated, “We continue to develop NORTHSTAKE in Abu Dhabi and Dubai by building partnerships in the region. Today we met Mubadala and we are very excited to see how digital assets will continue to grow in the region. At NORTHSTAKE, we are committed to serve institutional clients on their digital asset portfolio.”

Over the past months VARA has licensed over 21 VASPs including Komainu, HexTrust and others. Most recently Crypto.com became the first global crypto exchange to receive a full license. The UAE has become one of the leading hubs for regulated VASP entities.

BACS for blockchain arbitration launches operations in Dubai DIFC

BACS for blockchain arbitration launches operations in Dubai DIFC

BACS ( Blockchain Arbitration and Commerce Society) has launched its operations in the Middle East with the opening of an office in Dubai, at Dubai International Financial Centre (DIFC). As per the press release, Dubai has become a vibrant ecosystem for blockchain companies, crypto assets, and artificial intelligence, offering significant opportunities for innovation, growth, and global expansion.

As Ignacio Ferrer-Bonsoms, President of BACS, points out, “Dubai is a strategic location for us. As a Digital Chamber of Commerce, we must be here. We want to bring our associates to Dubai and, conversely, we want to accompany Middle Eastern technology companies to the rest of the world. BACS’s presence within the DIFC reinforces its reputation as a world-class financial centre that attracts cutting-edge organizations.“

BACS encompasses a global network with deep industry knowledge and a commitment to responsible innovation.

BACS aims to further elevate Dubai’s profile as a destination for blockchain projects seeking a reputable and well-regulated environment. The arbitration and dispute resolution focus, carried out by the association not by BACS Dubai, will strengthen the DIFC’s legal framework, especially for complex cases involving emerging technologies.

Peter Hulks, CBDO of BACS Dubai, believes that “Dubai is making significant contributions to the world. Dubai is an Innovation Hub. Dubai is actively fostering a culture of innovation and experimentation. They invest in blockchain, AI, and other cutting-edge technologies, which in turn attracts global talent, entrepreneurs, and forward-thinking businesses. This pushes the boundaries of what’s possible and shapes how we think about the future economy.”

He also highlights its strategic location. “Dubai is a bridge between worlds. Located at the crossroads of East and West, Dubai is uniquely positioned as a connector. It facilitates trade, fosters international collaboration, and promotes cultural exchange. This connectivity plays a critical role in breaking down barriers and driving global progress. Overall, Dubai is contributing a fresh perspective, a spirit of innovation, and a commitment to a long-term vision, something increasingly lacking in countries once seen as leaders in these areas. There are many reasons why I call Dubai home, my answer barely scratches the surface.”

Levan Bodzashvili, COO of BACS Dubai, considers Dubai to be a model of tolerance. “Dubai’s diverse, multicultural society is a true melting pot. They’ve created an environment where people from all walks of life can work and live together. This promotes understanding and cooperation in an increasingly interconnected world, serving as an encouraging example.”

He also highlights Dubai’s visionary leadership. “Dubai’s leadership is clear. Their vision is grand and transformative. They’re not afraid to take risks and invest boldly in ambitious projects, often related to sustainability and technology. This drive pushes the limits and inspires others to strive for ambitious goals that can benefit all of humanity.”

The future of BACS is focused on contributing to a healthy and mature blockchain ecosystem. For BACS, reliability and accessibility are key: our arbitration services offer a clear path for dispute resolution, essential as this industry grows. 

Our goal is to simplify things, helping businesses understand and confidently explore blockchain’s potential. BACS is actively working on expanding its network to key markets, forging new alliances, and learning. BACS will be a practical force for good, advocating for responsible adoption and ethical practices within the blockchain space.

Some of the key advantages BACS offers to companies working with new technologies include:

– Risk Mitigation: New technology, especially in the blockchain space, carries inherent risks. We help companies understand those risks, both legal and technical, and implement strategies to mitigate them. This can save them from costly mistakes and protect their reputation.

– Dispute Resolution: When conflicts arise (and they inevitably will), BACS offers a specialized arbitration platform. This provides a faster, more cost-effective, and often more private alternative to traditional litigation, keeping projects on track and avoiding public disputes.

– Knowledge & Expertise: The BACS team has deep experience in blockchain, crypto assets, and AI. Companies venturing into these areas benefit from our insights, practical guidance, and connections to a global network of experts.

– Trust Factor: Working with BACS adds legitimacy to a project. It shows a commitment to transparency, fair play, and responsible innovation. This can be crucial for attracting investors, partners, and building a positive reputation in the industry.


BACS is like the steady hand on the wheel. Companies can focus on innovation, knowing that BACS has their back in managing the challenges that come with using cutting-edge technologies.

The announcement comes as more Blockchain, AI and Web3 startups gravitate towards DIFC.

Valour offers access to digital asset ETPs in UAE

Valour offers access to digital asset ETPs in UAE

Valour, issuer of exchange trade products (ETP) simplifying the access to digital assets, and a subsidiary of DeFi Technologies Inc, a financial technology company that bridges the gap between traditional capital markets, Web3 and decentralized finance, has opened a trading desk in the UAE.

Valour issues exchange traded products (“ETPs”) that enable retail and institutional investors to access digital assets like Bitcoin in a simple and secure way via their traditional bank account

According to the press release, this initiative marks a significant stride in the Company’s mission to enhance global accessibility to regulated digital assets and underscores its commitment to global growth through Valour and Valour Digital Securities Limited’s exchange-traded products (“ETPs”).

This expansion into the Middle East is a key element of Valour’s strategy to increase its product offerings and global footprint. The UAE was specifically chosen for its progressive regulatory environment, high cryptocurrency adoption rate—where an estimated 27% of the population engages in crypto ownership — and its embrace of blockchain technology across multiple sectors. These factors make it an ideal location for fostering growth and extending Valour’s reach into new markets.

As part of this strategic initiative, Valour aims to expand its assets under management (“AUM”) by launching 15 new ETP products in 2024, in addition to the 17 already listed in Europe, followed by another 30 in 2025. This ambitious expansion plan capitalizes on the growth potential of the digital asset ecosystem, demonstrating Valour’s commitment to innovation and its leading role in the digital asset market.

Olivier Roussy Newton, CEO of DeFi Technologies, commented, “The launch of our trading desk in the UAE signifies a pivotal moment for both Valour and DeFi Technologies as we expand our global outreach. This is more than just entering a new market; it’s about integrating into a dynamic and evolving financial landscape that the Middle East represents. We are excited to embark on this journey, leveraging the UAE as a gateway to broader horizons and setting the stage for growth and opportunity.”

The establishment of a trading desk in the UAE represents the first phase of Valour’s plans for geographical expansion.  Valour is ideally positioned to leverage the increasing global demand for regulated and trusted access to digital assets and the rapidly expanding Web 3 ecosystem.

With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance.

India’s largest crypto exchange CoinDCX eyes international expansion starting with MENA

India’s largest crypto exchange CoinDCX eyes international expansion starting with MENA

In a recent CoinDCX blog post, where the founders Sumit Gupta and Neeraj Khandelwal addressed their users, investors and partners, the crypto exchange noted that their strategic investment in UAE based BitOasis crypto exchange was part of their expansion plans.

The six-year-old crypto exchange now one of the largest in India celebrated its anniversary.

While talking of the journey including the ups and downs from crypto market cycles, to regulatory hurdles, the founders noted that two things remained constant, their commitment to empowering Indians with the tools and knowledge they need to thrive in the crypto world, and the love and support of their incredible community.

What started as a crypto exchange in 2018 has evolved into a comprehensive ecosystem, encompassing an exchange, CoinDCX Ventures, the Okto self-custodial wallet, and the Okto SDK that bridges Web2 and Web3.

CoinDCX Ventures has already invested in 15 Web3 startups.

CoinDCX also mentions their strategic investment in UAE homegrown crypto exchange BitOasis. The post noted, “Our recent strategic investment in BitOasis, one of the leading exchanges in the MENA region, will facilitate CoinDCX’s expansion into international markets.” In the image associated with the blog post, it pointed out BitOasis as a “partner exchange”.

In August 2023, UAE based BitOasis crypto broker exchange announced that it had secured an investment from CoinDCX, India’s biggest crypt exchange. The announcement came after BitOasis’s license was deemed non-operational by Dubai’s virtual asset regulatory authority VARA and still stands to date as “non-operational” on VARA’s website.

The Blog post also notes that moving forward CoinDCX anticipates a bull run and expects surge in transactions and volumes. They post notes, “We have a huge responsibility to serve our customers better and introduce products that align with the market’s expectations. Going forward, we will continue empowering the masses by democratizing access to Web3. We promise that the coming year will be as exciting as the years gone by. As we continue to build in Web3, some of those initiatives will be rolled out soon. We are committed to take CoinDCX to the next level.”

UAE licensed DRIFE Web3 ride hailing platform now on Sui Blockchain

UAE licensed DRIFE Web3 ride hailing platform now on Sui Blockchain

DRIFE, a leading Web3 Mobility infrastructure provider, and the first ride-hailing decentralized application to operate in India and the UAE, has announced its integration with Sui, a Layer 1 smart contract platform and Blockchain.

DRIFE with this move, aims to offer a seamless, simplified onboarding process for ride hailing users and ecosystem partners. The migration of DRIFE onto Sui Blockchain which was created by Mysten Labs, is a step in expanding the decentralized mobility infrastructure sector.

Sui streamlines the process for developers to launch their projects on the Sui platform as it eliminates technical barriers.

DRIFE Taxi 3.0 service is set to disrupt the Taxi 2.0 such as UBER, Lyft, and others. These companies pioneered the use of mobile apps to connect passengers and drivers conveniently and affordably, yet their centralization has slowly eroded the benefits, and earnings of drivers due to high commission rates, while controlling the price customers pay.

The company is entering the market offering an innovative, transparent, fair solution that empowers both drivers and riders. The DRIFE platform offers a zero-commission fee structure which allows drivers to earn more income and pass on the benefits to riders in the form of savings. Sui is the optimal blockchain platform for DRIFE as it offers low network fees, reduced transaction costs, and enhanced overall affordability for users.

Firdosh Sheikh, Founder of DRIFE states, “Given we are pioneering a decentralized ride-hailing application, a concept unprecedented, we required a strategic partner and a blockchain infrastructure that aligned seamlessly with our vision. Sui is the ideal choice due to its scalability, security and cost-effectiveness.”

DRIFE will utilize various features in SUI’s architecture including its ZKlogin which enables frictionless user interaction without necessitating intricate blockchain knowledge. Sheikh adds, “This aligns perfectly with our goal of creating a seamless user experience and lowering entry barriers. Moreover, SUI’s scalability and speed are paramount, ensuring DRIFE can accommodate rapid growth and deliver real-time services efficiently.”

zkLogin, makes Web3 login as simple as signing in with familiar web credentials such as Google or Twitch. Sui continues to advance zkLogin, adding new providers and additional features such as multi-sig capability and more.

“Sui was created to provide a decentralized platform to support exactly the kind of innovative decentralized solution that DRIFE offers in its mobility infrastructure services,” said Dr. Greg Siourounis, Managing Director of the Sui Foundation. “It is extremely gratifying for the Sui community to see DRIFE leveraging zkLogin and other parts of Sui’s technology to address real challenges people face in their everyday lives.”

By leveraging SUI’s technology, DRIFE is poised to deliver an unparalleled ride-hailing experience that is not only efficient and user-friendly but also cost-effective and scalable.