Animoca Brands opens office in UAE and appoints Managing Director

Animoca Brands opens office in UAE and appoints Managing Director

Animoca Brands today announced its official expansion into the Middle East, with a presence in Dubai, United Arab Emirates, to meet the growing demands of Web3 organizations moving into the region. The company has also appointed Omar Elassar as managing director for the Middle East and head of global strategic partnerships.

As per the press release, the Dubai office will serve as a hub to engage with both local and international partners to foster innovation, guide strategic direction and operations and develop partnerships.

Oman Elassar will oversee the Middle East growth and operations. As a Web3 veteran Oman has eight years of Web3 native technology experience having held various executive roles with Polkadot, Ripple and others. He has also worked across corporate and technology strategy, as well as financial advisory at firms including Oliver Wyman, Deloitte, and Morgan Stanley. He holds an MBA from INSEAD, and an Honours degree in Computer Engineering from the University of Waterloo in Canada.

Commenting on the appointment, Evan Auyang, group president of Animoca Brands, said, “Omar’s deep expertise in Web3 makes him an exceptional addition to Animoca Brands. His leadership will be a key driver in driving Animoca Brands’ strategic growth in the Middle East and beyond.”

Omar Elassar, managing director for Middle East and head of global strategic partnerships, added, “We are excited to establish our first office in the Middle East, one of the world’s most connected innovation hubs, to leverage the region’s vibrant landscape and support the evolving needs of the Web3 industry locally and globally. Joining Animoca Brands at this phase in its journey presents a unique opportunity to work with visionary builders and contribute to the wider integration of blockchain technology in a market that is poised for significant growth.”

​Animoca Brands has been active in the MENA region

Already Animoca brands has been active in the region whether in Saudi Arabia or the UAE. Earlier this year is signed an agreement with Saudi Neom, and also led an investment in UAE based Param Labs, an independent Web3 Blockchain gaming and technology studio totaling $7 million.

RAK Digital Oasis and Blockchain SuiHub to scale startups in MENA

RAK Digital Oasis and Blockchain SuiHub to scale startups in MENA

UAE RAK Digital Assets Oasis (RAK DAO), the Free Zone dedicated to digital assets and blockchain enterprises, and SuiHub MENA, the regional innovation hub supporting the growth and scaling of startups within the Sui blockchain ecosystem have partnered to scale MENA startups through an accelerator program.

The program as per the announcement will provide entities with the resources and support to tap into the region’s regulatory and licensing infrastructure.

Sui selected Dubai in 2024 as its inaugural location for the first SuiHub, while RAK DAO is already home to over 500 Web3 companies spanning GameFi, NFTs, non-custodial wallets, proprietary trading firms, and Decentralized Autonomous Organizations (DAOs).

Kristof Lukovich, CEO of SuiHub MENA, stated, “SuiHub MENA’s partnership with RAK DAO presents a unique opportunity for startups to work in a supportive environment where they can focus on their growth. We believe that by building strong, long-term strategic collaborations with Govt. entities, regulatory bodies, and licensing authorities, we are positively contributing to helping the ecosystem further develop here in the UAE. We are proud of our partners and are delighted to formalize our collaboration with RAK DAO.”

Paul Dawalibi, CEO of RAK DAO, commented: “The partnership with SuiHub MENA reinforces our commitment to enabling high-growth blockchain ventures with the tools and infrastructure they need to thrive. At RAK DAO, we’re focused on building an ecosystem that combines regulatory clarity with global connectivity, and collaborations like this are central to that vision.”

In February 2025, SuiHub Dubai, received over 630 applications for its Global Accelerator Program, the largest intakes ever recorded for an ecosystem-specific accelerator program. SuiHub’s accelerator program attracted interest from over 13,000 individuals from 152 countries and 2,452 cities.

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Tokinvest and UAE Zand Bank partner to tokenize the world of investing

Tokinvest and UAE Zand Bank partner to tokenize the world of investing

UAE regulated, Tokinvest, a marketplace for real-world asset (RWA) investing, and Zand Bank, the UAE’s first fully licensed, AI-powered bank and a regulated digital asset custodian have partnered to transform the way investors access high-value assets through tokenization.

As per the press release, the partnership will offer fully integrated solutions for tokenized real world assets including design, issuance, custody and trading. Tokinvest and Zand Bank are paving the way for a more accessible, liquid, and transparent investment ecosystem. By combining Zand Bank’s regulated custodial services with Tokinvest’s expertise in tokenised investments, this partnership offers a secure, compliant, and scalable model for the next generation of real-world asset investing.

Tokinvest and Zand Bank will enable investors, both institutional and individual, to gain fractional exposure to premium assets without the high barriers to entry. All the transactions will be fully compliant with UAE’s regulations, while asset owners and issuers will be able to raise funds efficiently from a broader global investor base.

Scott Thiel, CEO & Co-Founder of Tokinvest, commented, “This isn’t just a partnership—it’s a game-changer. Together with Zand Bank, we’re building the future of tokenised investing, making it easier, safer, and more accessible for everyone. The old barriers—high capital requirements, complex legal structures, limited liquidity—are being broken down. Dubai is at the forefront of this transformation, and this collaboration reinforces our commitment to giving investors access to exclusive opportunities in a way that’s fully regulated, transparent, and seamless.”

The collaboration will support issuers in creating, listing, and trading tokenized assets across multiple asset classes, including real estate, funds, and commodities.

Michael Chan, CEO of Zand Bank, added, “Zand Bank is proud to lead the way in the digital economy by offering innovative banking products alongside our institutional-grade custodial solutions. Our collaboration with Tokinvest showcases our commitment to providing secure and transformative financial services that bridge traditional finance with the digital asset world. We are committed to delivering seamless, transparent, and accessible investment opportunities, setting new benchmarks for innovation and security in the tokenized asset market.”

Previously Zand Bank had signed a partnership with Mantra Chain for tokenizing real world assets. Since then Mantra Chain’s OM Token has faced its own downward decline.

Zand Bank continues to forge ahead with new partnerships

UAE fully licensed digital bank Zand, has collaborated with UAE Web3 financing platform Klickl. This came after Zand Bank announced that it was launching its licensed digital asset custody services. In addition Zand announced it would be launching Zand’s AED-backed stablecoin which will further enhance the bank’s ability to integrate TradFi and DeFi, reinforcing its leadership in the digital assets landscape.

In 2023, UAE based Abu Abu Dhabi Global Market (ADGM) and Zand Bank, partnered to offer preferential banking services and efficient bank account opening for ADGM-licensed entities, including SMEs, virtual assets companies, funds, and corporations. Since then it has become the go to bank for crypto exchanges, and other Web3 entities when it comes to crypto banking related services.

Daleel financial marketplace to integrate Binance Bahrain crypto products

Daleel financial marketplace to integrate Binance Bahrain crypto products

Daleel, a Middle East leading personalized financial marketplace will integrate and showcase cryptocurrency products from Binance Bharain. Through the Binance Link Program, Daleel will be able to access the top 10 crypto trading pairs from the largest and most liquid crypto exchange.

As per the press release, Daleel will become the first financial marketplace in the Middle East to present and compare information on cryptocurrency products alongside traditional financial services such as credit cards, loans and mortgages.

Users of Daleel’s platform will benefit from greater choice, the ability to seamlessly explore and access a wider range of financial products, while bridging the gap between traditional banking and digital assets.

Tameem Al Moosawi, Binance Bahrain GM, commented, “Cryptocurrency is being embraced around the world and providing access and visibility to crypto within a marketplace alongside traditional financial services will further legitimize crypto as an asset class. By adding cryptocurrency into everyday financial decision-making, we’re not just offering more choice, we’re defining what the future of finance looks like for millions of customers across the Middle East.”

PK Shrivastava, CEO at Daleel said, “We’re proud to be the first Middle East marketplace to offer crypto pricing from Binance, the largest crypto exchange. Through Daleel, customers in the Middle East will be able to access transparent information about cryptocurrency right alongside more traditional financial products.”

Daleel is a marketplace registered and licensed in the UAE and Bahrain and provides services in accordance with local regulations.

Abu Dhabi ADI Blockchain to operate AED stablecoin for FAB Bank and ADQ

Abu Dhabi ADI Blockchain to operate AED stablecoin for FAB Bank and ADQ

The stablecoin race has started among the banking sector in the UAE, and the first AED stablecoin to be developed by an Abu Dhabi Blockchain is in the process. ADI Blockchain Foundation will be developing an AED stablecoin to be issued by First Abu Dhabi Bank, with the support of ADQ a sovereign investor and IHC an investor as well.

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.

Abu Dhabi based ADI Blockchain will operate the stablecoin

The ADI Foundation a non-profit organization dedicated to helping governments connect with trusted partners to advance digital transformation and blockchain adoption worldwide, leverages its $120 million fund and a global network of partners to deliver blockchain solutions that enhance trust, transparency, and efficiency in key sectors such as healthcare, financial systems, sustainability, and governance.

The new stablecoin will operate on the ADI blockchain. Guillaume de La Tour, CEO of ADI Foundation, commented: “This stablecoin marks a pivotal milestone in the UAE’s journey toward a more inclusive and digitally empowered economy. By leveraging the ADI blockchain, we are enabling secure, transparent, and efficient transactions at scale — built on technology developed right here in the UAE. The ADI Foundation is proud to support this visionary initiative that aligns with our mission to advance sustainable digital transformation around the world.”‍

‍H.E. Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ, said, “The launch of stablecoin marks a pivotal step in our commitment to strengthening the UAE’s digital infrastructure ecosystem. As we move forward towards an increasingly digital and connected economy, stablecoin will provide a solution that is secure, efficient and scalable, while creating new opportunities for growth and value creation.”‍

Syed Basar Shueb, CEO of IHC, added that IHC will bring their blockchain and fintech expertise. While Hana Al Rostamani, Group Chief Executive Officer of FAB, affirmed that the new stablecoin will make a significant impact across industries and revolutionize blockchain payments for UAE consumers and businesses.

This will not be the first regulated AED stablecoin issued by a banking entity. Mbank through its subsidiary AE Coin has already launched a regulated AED stablecoin.

Additionally in August 2024, Tether, announced in the UAE its plans to add a new Dirham backed stablecoin in collaboration with UAE’s Phoenix Group, a Web3 investor and Bitcoin mining conglomerate.

Microsoft and Du to build $544.5 million data center in UAE

Microsoft and Du to build $544.5 million data center in UAE

The Emirates Integrated Telecommunications Company PJSC (du) will be investing in a $544.54 million hyperscale data center deal with Microsoft who will be its main tenant.

The hyperscale datacenter capacity will be delivered in tranches, du said in a statement. Hyperscale centers are large facilities that are mainly used to provide data storage and cloud computing services to businesses at scale.

The deal, made during Dubai AI Week, “represents a pivotal leap in our strategic goal to revolutionize the digital ecosystem of the UAE”, Fahad Al Hassawi, CEO of du, said.

Currently, du operates five data centers across the United Arab Emirates, which has been heavily investing to become a global hub for AI outside of the US.

Almost 150 MW of additional power capacity is expected to be added by the end of 2025. The existing data center capacity in UAE is over 250 MW, while the upcoming capacity in the region is expected to be around 500 MW. Around $1.5 billion in new investments is expected to flow into upcoming data centers in UAE by 2027.

The datacenters will be used to host AI computing power, digital assets, Blockchain solutions, IOT, and other technology solutions. Beyond the UAE, the The MENA data center market is experiencing rapid growth, with 4.5 GW of additional capacity expected by 2027, driven by a $12 billion investment surge. Saudi Arabia dominates the market, accounting for 50% of upcoming power capacity.

UAE Fuze and Hex Trust partner for crypto custodian offerings to financial sector

UAE Fuze and Hex Trust partner for crypto custodian offerings to financial sector

UAE based Fuze, a digital assets infrastructure provider has partnered with crypto custodian Hex Trust, regulated in the UAE, to deliver institutional-grade digital asset custody across the Middle East.

As per the LinkedIn post both Fuze and Hex Trust want to build secure compliant and scalable infrastructure that empowers financial institutions, banks and enterprises. The partnership will combine Hex Trust’s global leadership in digital asset custody with Fuze’s deep integration across the local banking and fintech ecosystem.

Mo Ali Yusuf, CEO of Fuze noted on LinkedIn, ” I am proud to announce our partnership with Hex Trust! Filippo Buzzi and I have built a strong working relationship over the past year, grounded in a shared vision for a regulated, secure, and scalable digital asset ecosystem. This partnership brings together two fully regulated entities under the VARA framework, combining Hex Trust’s global leadership in digital assets with Fuze’s deep integration across the MEA banking and fintech landscape. Together, we are building the trusted foundations for the next era of regulated digital assets and compliant innovation in the region.”

Recently Fuze, through its subsidiary Niobe Payment Services was licensed to offer digital assets payments by the Central Bank of the UAE. The company now holds a Retail Payment Services and Card Schemes (RPSCS) license. Niobe Payment Services LLC SPC, is now both a fully licensed operator for digital assets infrastructure and, through its payments infrastructure division, a regulated payment services provider for the region.

Digital asset startups in Hub71 raise $100 million in 2024

Digital asset startups in Hub71 raise $100 million in 2024

Hub71, Abu Dhabi’s global tech ecosystem, in its 2024 Impact Report, noted that startups in the Digital Assets program raised more than $100 million. As per the report in 2024 Hub71 startups recorded $2.17 billion (AED 8.02 billion) in funding; a 44.7% year-on-year increase from $1.5 billion (AED 5.4 billion) in 2023, demonstrating strong investor confidence in Abu Dhabi’s innovation economy. Revenue generated by startups also climbed to $1.2 billion (AED 4.5 billion), up from $1 billion (AED 3.5 billion) the previous year, reflecting sustained commercial traction across priority sectors.

Much of this rapid growth was fueled by Hub71, which is driving sector-wide transformation through its specialist ecosystems. Hub71+ Digital Assets, Hub71+ ClimateTech, and the newly launched Hub71+ AI are attracting startups that are developing impactful solutions to some of the world’s most pressing challenges. Startups in the Digital Assets program alone have raised more than $100 million, while partnerships with global tech leaders like Google, NVIDIA, Solana, Hashed and AWS are accelerating innovation across Web3, AI, renewable energy, and deep tech.

During the year, Hub71 received over 3,100 applications from entrepreneurs representing more than 20 countries, highlighting the growing global appetite to build from the UAE capital. Of the 46 startups selected, approximately over 70% came from international markets, with more than half in the Seed or Series A stages. Startups from the US, UK and Germany, made up nearly 63% of Cohort 16, cementing the city’s reputation as a gateway between established tech hubs and high-growth emerging markets.

Ahmad Ali Alwan, Chief Executive Officer of Hub71, said, “Hub71 began as an ambitious idea to enable founders to build from Abu Dhabi. That idea has since grown into a thriving community of entrepreneurs, investors, and partners working together to drive lasting impact. The progress captured in this report reflects the strength of our ecosystem and the trust placed in us by those who believe in Abu Dhabi’s long-term potential. As we look ahead, our focus remains on empowering founders and positioning Abu Dhabi as a global hub for technology and innovation.”

Hub71’s momentum mirrors Abu Dhabi’s growing status on the global startup map. According to the 2024 Global Startup Ecosystem Report, the emirate is the fastest-growing emerging startup ecosystem in MENA, with its ecosystem value rising 28% to $4.2 billion between mid-2021 and end-2023. StartupBlink’s 2024 rankings placed Abu Dhabi 6th regionally and 2nd in the UAE, reinforcing its rising global profile.

Capital access remains a central pillar of Hub71’s strategy. In 2024, capital partners deployed $65 million (AED 238 million) into its startup community. The global tech ecosystem welcomed new investors, including Princeville Capital, The Catalyst, and Golden Gate Ventures.

Meanwhile, Tech Barza, Hub71’s exclusive capital club for family offices, recorded its first startup deal and a 10% increase in membership. To unlock early-stage capital, Hub71 launched the Angel Investor Support Package empowering five new angel networks, including Falcon Valley and Qora71, to facilitate more early-stage ticket investments, thereby accelerating the growth and scalability of startups within the Abu Dhabi ecosystem.

Unlocking market access through strategic partnerships

Beyond funding, strategic partnerships remain a key pillar of Hub71’s value proposition, playing a critical role in helping startups gain traction. In 2024, startups signed 91 corporate deals with government and private sector partners worth $28 million (AED 103 million), accelerating their ability to scale and commercialize their solutions.

Programs like the Regulatory Sandbox, co-developed with the Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi Mobility, and the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), enabled startups to pilot cutting-edge technologies in sectors such as smart mobility, digital health, food innovation, and alternative proteins.

Startup successes: Scaling impact from Abu Dhabi

In a year marked by an evolving funding environment, Hub71 startups captured investor attention with landmark raises that signal both global relevance and real-world impact. FinTech startup FlapKap, raised $34 million (AED 124.7 million) in pre-Series A funding to expand its AI-driven lending solutions across the GCC. ClimateTech pioneer 44.01 secured $37 million (AED 135.7 million) in Series A funding to scale its CO₂ mineralization technology that transforms captured emissions into rock, contributing to global decarbonization. Meanwhile, HealthTech innovator BioSapien closed a $5.5 million (AED 20 million) pre-Series A round to accelerate clinical trials of its MediChip™, a 3D-printed implant that delivers localized cancer treatment with minimal side effects.

Today, Hub71 is home to a vibrant community of founders building high-impact startups that address global challenges and unlock new markets; driven by access to capital, expert support and sector-specific expertise to attract top talent and fuel Abu Dhabi’s innovation agenda.

About Hub71:

Hub71 is Abu Dhabi’s global tech ecosystem that enables founders to build globally enduring homegrown tech companies in any sector by providing access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent, governed by forward-thinking regulation.

Global Crypto Custodian Bitgo now licensed in UAE

Global Crypto Custodian Bitgo now licensed in UAE

BitGo, a global crypto custodian and crypto staking provider has received a license in the UAE through its Dubai subsidiary, BitGo Custody MENA FZE. BitGo obtained the license from Dubai’s Virtual Assets Regulatory Authority. The Virtual Assets Service Provider (VASP) operating license will allow BitGo to offer Virtual Asset Custody Services and Staking. This approval follows BitGo’s receipt of the in-principle approval (IPA) in January 2025.

BitGo Custody MENA FZE will now be offering secure and efficient cold storage custody services to Institutional and Qualified Investors in the UAE.

Ben Choy, General Manager of BitGo Custody MENA FZE, said, “At BitGo, we provide the most secure and scalable solutions for the digital asset economy. A large part of this effort is ensuring we adhere to the highest regulatory standards. Receiving authorization from VARA reinforces our role as a trusted partner for institutional investors and allows us to provide our award winning services from Dubai.”

Bitgo recently secured its position as the world’s largest staking platform by total locked value with $48 billion in assets staked.

UAE OKX crypto exchange launches $1.3 million reward campaign

UAE OKX crypto exchange launches $1.3 million reward campaign

OKX, the global crypto platform regulated in the UAE, has launched one of the biggest crypto trading campaigns that the UAE has ever seen. The total reward pool is 5 million AED equivalent to $1.36 million dollars.

As per the campaign all users have to do is sign up, link their UAE Bank account and trade. Individual prize awards will reach up to 50,000 AED equivalent to $13,600, while new users will also receive AED 250 on their first deposit of AED 250, and AED 500 on completing their first trade of AED 500.

There are also daily rewards of up to 100 USDT for every 1,000 USDT traded.

This is not the first campaign to be launched this year in UAE by either crypto exchanges or even crypto savvy digital banks such as Liv Bank which recently also launched its crypto campaign, however this is one of the biggest pool rewards.

As the scene in the UAE becomes more competitive with many licensed crypto exchanges competing for clients, and with the entrance of banks into the crypto scene, more campaigns, services and offerings will be on the table.