UAE luxury real estate Group BENMARG to offer crypto payments with UBITQUITY

UAE luxury real estate Group BENMARG to offer crypto payments with UBITQUITY

UBITQUITY, a blockchain and real estate technology company for Real World Assets for web3 is thrilled has partnered with BENMARG Group, a luxury real estate agency based in Dubai, UAE. This to enhance the luxury real estate market by showcasing BENMARG Group’s exquisite property listings on CryptoListing, a prominent platform for real estate transactions using cryptocurrencies as well as enabled cryptocurrency transactions for these luxury properties through UBITQUITY’s innovative UbitquityPay service.

BENMARG Group is renowned for curating an exclusive portfolio of luxury real estate offerings in Dubai and beyond. The company’s commitment to delivering exceptional properties that cater to the most discerning clientele aligns perfectly with the capabilities of CryptoListing and UbitquityPay.

CryptoListing, a bleeding-edge platform, provides a secure and transparent environment for the purchase and sale of real estate using cryptocurrencies. This collaboration will allow BENMARG Group to tap into the growing global market of cryptocurrency enthusiasts and investors who seek luxury properties as a store of value and investment.

UBITQUITY, LLC’s UbitquityPay service is designed to streamline cryptocurrency transactions for real estate, offering both buyers and sellers a simplified and efficient process. This service will enable BENMARG Group’s clients to seamlessly complete cryptocurrency transactions when purchasing these high-end properties.

“We are excited to collaborate with UBITQUITY, LLC, to bring our luxury real estate listings to the CryptoListing platform. This partnership allows us to cater to a tech-savvy and global audience while providing a secure and efficient way to transact in cryptocurrencies,” said George Gabriel of BENMARG Group.

“BENMARG Group’s commitment to excellence in luxury real estate aligns perfectly with our mission to bring innovation to the real estate industry. We look forward to enabling seamless cryptocurrency transactions for their prestigious properties through UbitquityPay,” said Nathan Wosnack, Founder & CEO of UBITQUITY.

Representatives from both BENMARG Group and UBITQUITY are currently at the Future Blockchain Summit in Dubai, UAE.

Concurrently UBITQUITY and Women in Blockchain Canada have joined Forces to Fundraise and Forge Enterprise Partnerships as well as bring its tech innovations to MENA at Future Blockchain Summit.

Phoenix group’s IPO to be the first crypto blockchain IPO in UAE

Phoenix group’s IPO to be the first crypto blockchain IPO in UAE

UAE Crypto mining entity Phoenix Group announced on Linkedin, their eminent preparation for a landmark IPO (Initial public offering) on the Abu Dhabi Securities Exchange.

As noted on LinkedIn, “We’re thrilled to announce that we are gearing up for a landmark Initial Public Offering (IPO) on the Abu Dhabi Securities Exchange. As a pioneering technology conglomerate specializing in cutting-edge blockchain and crypto solutions, this marks a significant milestone for us and the UAE. We’re the first crypto and blockchain entity to be listed in the #UAE.”

Founded in 2017 by Bijan Alizadeh and Munaf Ali, Phoenix is set to be the first privately owned crypto and blockchain entity to be listed on a Middle East stock market.

In an interview Bijan Alizadeh, Phoenix Group CEO and Munaf Ali, the Phoenix Group’s managing director stated, “Our journey, originating from the heart of Abu Dhabi, has always been visionary, looking beyond borders and horizons. Today, as we stand at the cusp of this significant milestone, we are not just announcing an intention to IPO – we are sharing our commitment to a future where technology knows no boundaries.”

The company aims to be able to help create a more resilient, inclusive, and diversified global blockchain economy, and listing is just the first step towards achieving that goal.

Alizadeh adds,“Our aim has always been to champion innovation and contribute to Abu Dhabi’s positioning in the global tech landscape. This landmark announcement offers local, regional and global investors the opportunity to participate in making this iconic vision, a reality.”

Phoenix Group  has a total installed capacity of 725 MW across the UAE, Oman, US, Canada and Commonwealth of Independent States (CIS) countries, Phoenix specialises in a range of services, from high-performance computing to crypto and cloud mining, data centre hosting, crypto trading, and crypto mining products and equipment.

Earlier this month Phoenix group announced that it had sold 10% of its company shares to Abu Dhabi conglomerate International Holding Company’s subsidiary.

This announcement came at the heels of an agreement between Muscat-based Green Data City and Phoenix Group to develop a $300 million crypto-mining farm in Oman. The 150-megawatt farm, which will be one of the largest crypto-mining data centers in the region, will be installed in Green Data City, the entities said in a joint statement.

Solana sets up in UAE and offers grant programs to members of DMCC crypto center

Solana sets up in UAE and offers grant programs to members of DMCC crypto center

Solana Foundation, the non profit organization dedicated to Solana Blockchain adoption and security has partnered with UAE based DMCC free zone and Government of Dubai Authority on commodities trade and enterprise, crypto center. Solana will offer technical and business development suport and their existing grant program.

The partnership compliments DMCC’s existing offerings and collaborations by increasing its members’ ability to develop their concepts and scale their businesses using Solana, one of the industry’s leading blockchain platforms.

Lastly, the Solana Foundation will join the DMCC Crypto Centre in delivering webinars and other educational courses on a range of important Web3 topics.

As part of this collaboration, Solana will set up a presence at the DMCC Crypto Centre to integrate with the ecosystem and collaborate with its thriving network of technology partners, exchanges, government entities, investors, incubators and accelerators, and service providers, as well as engage with the wider community of 23,000 companies operating in DMCC’s business district.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said, “Solana is one of the most prominent blockchains in the world, boasting a market capitalisation of USD 8 billion, placing it in the top 10 largest crypto projects globally. Through this landmark signing, we will provide complimentary set up and business licensing for Solana ecosystem projects whilst our members can access a world-class blockchain platform and dedicated Solana engineering teams that can take their businesses to new heights. Providing this type of supportive environment is our core philosophy for the DMCC Crypto Centre. It is through this strategy that we have developed one of the most dynamic and value-creating ecosystems for Web3 firms, offering the largest concentration of crypto, blockchain and Web3 businesses across the MENA region – and a central driver behind Dubai’s rise into the biggest global Web3 innovation hub.”

Dan Albert, Executive Director, Solana Foundation, added: “With its high density of crypto companies and pro-growth attitude, providing support to the DMCC was a natural fit as we look to tap into the abundant Web3 value in Dubai. We look forward to working with members of the Crypto Centre to onboard them to our chain, as well as introducing our existing ecosystem to DMCC so they can also scale their operations.”

The DMCC Crypto Centre is a comprehensive ecosystem for companies that develop Web3 and blockchain technologies, and associated value-added services, providing everything that crypto businesses and entrepreneurs need to set up and scale their operations.

Abu Dhabi Customs to showcase new blockchain solutions at Gitex 2023

Abu Dhabi Customs to showcase new blockchain solutions at Gitex 2023

UAE Abu Dhabi Customs will be showcasing the latest innovative blockchain enabled projects for customs systems during its participation at Gitex 2023 under the slogan “We Shape Tomorrow’s Customs with Today’s Innovations”. Gitex 2023 will be held at Dubai World Trade Centre from October 16 to 20, 2023.

This year, Abu Dhabi Customs is highlighting its innovative digital technologies and solutions that keep pace with the latest technologies of the 4th industrial revolution and artificial intelligence, as well as launching its latest innovative projects that incorporate blockchain technology into customs systems.

Mohammed Husain Al Balooshi, Head of Corporate Communications and Marketing at Abu Dhabi Customs, stated, “Through its participation in GITEX Global 2023 within the Abu Dhabi Government pavilion, Abu Dhabi Customs seeks to showcase the latest innovative solutions and technologies adopted in its customs work system, and their role in enhancing distinguished digital services and adopting the best international practices to increase operational efficiency, which supports our efforts to achieve our vision of global leadership to be a customs authority that leads change in pursuit of enhancing security and facilitating trade, especially in line with the pillars of ‘UAE Centennial 2071‘, ‘We the UAE 2031’ vision, and the economic directives of the Emirate of Abu Dhabi.”

China’s Bitcoin and Blockchain manufacturer Canaan to install 100 MW crypto mining site in Oman

China’s Bitcoin and Blockchain manufacturer Canaan to install 100 MW crypto mining site in Oman

China’s Bitcoin crypto mining and Blockchain hardware manufacturer, Canaan, has signed a crypto mining agreement with Oman’s Green Data city to pilot phase of a new crypto mining operation in Oman.

The new site will be installed in the facility of Green Data City, and under the agreement, Canaan has the option to expand the total capacity to up to 100MW.

The crypto mining operations in Oman will start in Q4 of 2023.

In August 2023 Oman’s Green Data City and Abu Dhabi’s Phoenix Group signed an agreement to develop a 150MW crypto-mining farm in Oman. The new farm will be set up in Green Data City was noted that it will be operational by Q2 2024, becoming one of the largest crypto-mining data centers in the region.

Phoenix Group is experienced in the development, operation, and management of crypto data centers. It is also the exclusive distributor of industry-leading mining equipment, MicroBT.

Oman was chosen as a location due to the long-term security provided by the Green Data City mining license, the entities’ common vision to develop cryptocurrencies mining and AI applications with the Ministry of Transport, Communication and IT (MTCIT), and the cooler weather in Oman, in particular in the region of Dhofar, which reduces the cooling energy consumption to a minimum, making the sultanate a sustainable destination for mining in the region.

The deployment will start with the new Avalon Box mining container featuring immersion cooling. The project also has the potential to deploy Canaan’s other advanced products, including the latest series A14 Avalon miners with a record efficiency of 20J/T, later in
2024.

Green Data City LLC is the company that operates the first license for sustainable crypto-mining in Oman since 2022. International mining companies can register and operate in Green Data City with long term agreements. The first phase of development consists of 200MW of mining capacity, the second phase will reach 400MW hyperscale data center capacity with natural cooling, renewable energies and downstream applications.

Oman Blockchain digital identity startup selected by Swiss accelerator

Oman Blockchain digital identity startup selected by Swiss accelerator

The Oman blockchain ID tech startup, Nashid has been selected by Swiss Tech4trust accelerator to participate in their program out of Trust Valley of Lausanne, Switzerland.

Nashid’s acceptance into Tech4Trust’s latest season underscores their pioneering approach to harnessing blockchain technology for Identity and Verifiable Credentials.

“Being part of Tech4Trust is a significant stride towards our global expansion ambitions,” shared Ahmed Al Marjeby, Co-founder and CEO of Nashid. “We are enthusiastic about collaborating with a global community, extracting invaluable insights, and honing our solutions to meet the demands of the rapidly evolving digital trust sphere.”

In 2020, co-founder Ahmed Al Marjeby found his online identity had been hacked. Al Marjeby found the fact that paper-based identity documents cannot be verified digitally. Motivated by this event and recognizing the urgent need for secure digital identity solutions, Ahmed, together with Mahmood Al Lawati, launched Nashid in 2022.

Tech4Trust will offer Nashid a golden opportunity to liaise with international experts, regulators, and government agencies.  This collaboration will also open doors to the broader Swiss and European markets, presenting unmatched potential for growth.

The startup previously secured an investment from the Oman Technology Fund and won awards in the Entrepreneurship World Cup 2022 and the GISCO Startup Competition.

20 percent of Ripple customers from MENA region

20 percent of Ripple customers from MENA region

In a recent blog post Sologenic, a Ripple partner pointed out the Ripple now boasta of 4.8 million wallets with 20 percent of its customers coming from MENA region. The information was provided by Ripple CEO Brad Garlinghouse during the Dubai Fintech Summit.

These comments were made as Sologenic and Ripple expand their presence in the UAE and MENA region. The SOLO Wallet has successfully onboarded over 200,000 users onto the XRP Ledger. Moreover, strategic partnerships with payment ramps like Uphold and BANXA to provide global accessibility to the ledger, and recent listings on prominent exchanges in specific regions such as Bitpanda (Northern Europe), CoinDCX (India), and CoinsPh (The Philipines) underscore the platform’s unwavering commitment to delivering accessible and cutting-edge tokenization solutions. These efforts directly address the surging demand among institutional investors eager to access digital assets.

As Ripple charts its course into the heart of Dubai’s financial sector, Sologenic stands as the one-stop-shop for all things XRP within the ecosystem. Sologenic’s platform connects global financial markets with the world of cryptocurrencies, redefining digital asset trading by allowing fractional share ownership.

Sologenic’s regulated arm is deploying a platform with a hybrid model for the on-demand tokenization of assets. This platform facilitates trading between crypto and off-chain traditional assets such as stocks & ETFs. This institutional-grade offering is designed for RIA’s, brokerage houses, family offices, banks and other financial institutions looking to tokenize real-world assets for their clients.

In Ripple’s latest report in July 2023,entitled “ 2023 New Value report, Crypto Trends in Business and Beyond” which covered topics such as cryptocurrencies, tokenization, DeFi, and crypto custody, financial decision makers from MENA ( Middle East and North Africa) are more bullish than their counterparts in other regions when it comes to cryptocurrencies, digital assets, and Blockchain.

As per the report findings, 72% of finance leaders surveyed expressed increased confidence in the crypto industry over the last 6 months, the number is even higher for those in the MENA region, reaching 87%.

90% of global finance leaders anticipate big impacts on business from blockchain and digital assets in the next three years. In terms of tokenization, they see the most massive impact in public stock trading and private share trading. This was especially expressed by finance decision makers with cryptocurrency experience in MENA.

Blockchain deposit token payment platform Fluent to set up operations in UAE

Blockchain deposit token payment platform Fluent to set up operations in UAE

USA based Fluent Finance, a blockchain enabled fintech infrastructure company responsible for developing the connections from core banking to public layers, bridging Web2 to Web3 utilizing the Fluent Protocol, has joined UAE’s Ministry of Economy NextGEN FDI program as Fluent plans to launch its operations in Abu Dhabi and expand its workforce in the UAE to 125 people in the next five years.

Fluent is working to issue deposit tokens which are stable-valued, regulatory-compliant digital assets interoperable with core banking systems. With Fluent, banks may issue fiat-equivalent tokens directly to public blockchains based on outstanding customer deposits and central bank-issued CBDCs.

Fluent will use its new UAE headquarters to deploy and scale its proprietary Fluent Economic Bridge, which can be used by importers and exporters to settle transactions via stablecoins or, increasingly, deposit tokens.

They are already piloting the platform in Kenya, and now hope to develop a digital trade corridor with the UAE.

Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, said Fluent’s participation in the NextGen FDI initiative underlines the UAE’s status as a hub for global trade and a supportive ecosystem for new technologies such as blockchain: “The UAE has become a prominent advocate for the modernization of the multilateral trading system, as well as a supportive place for the development of the tools and applications that can deliver it. I am optimistic about the possibilities of the Fluent Economic Bridge, and the potential for digital currencies to improve the efficiency and accessibility of global supply chains. In the build-up to the World Trade Organisation’s 13th Ministerial Conference in Abu Dhabi in February next year, encouraging platforms such as those developed by Fluent will offer an important proof point for the UAE’s leadership on trade technology.”

Bradley Allgood, Fluent Finance’s Chief Executive Officer, said the UAE was the obvious place in which to launch Fluent Economic Bridge. “The UAE offers exactly the kind of supportive, enabling environment that Web3 companies such as Fluent require. The combination of thoughtful regulation, forward-looking vision and advanced technology ambitions means we have the right foundations on which to develop our product and grow our organization. Importantly, this is also an important trade crossroads, which provides a multitude of opportunities to deploy our platform. We genuinely believe that, with the right support, we can transform Fluent Economic Bridge into the next unicorn.”

UAE Blockchain enabled Silal food traceability platform acquires major food distributor

UAE Blockchain enabled Silal food traceability platform acquires major food distributor

Blockchain enabled Silal traceability agriculture and food safety platform, backed by Abu Dhabi’s ADQ has acquired a majority stake in SAFCO Group, a leading food and beverage distributor in the UAE.

Prior to this, UAE’s ADQ, Silal, announced the launch its blockchain powered platform to trace the lifecycle of food from farm to fork. As per the news using the new traceability service is as simple as scanning the QR code of a Silal Fresh product through the Silal App.

Today, the acquisition of SAFCO integrates with Silal’s strategic growth ambitions and significantly strengthens its presence in the hospitality, restaurant and catering segment, leveraging SAFCO’s 30-year track record in importing, distributing and exporting a wide array of premium food and non-food products across the UAE, Middle East and Africa. The acquisition integrates with Silal’s strategic objectives and growth ambitions.

SAFCO’s acquisition is a pivotal step in enhancing Silal’s capacity to meet the market’s demand for a wide range of high-quality products and will accelerate the company’s efforts to enhance its food distribution.

UAE HAYVN crypto trading platform processes 22,000 crypto transactions in 2023

UAE HAYVN crypto trading platform processes 22,000 crypto transactions in 2023

UAE based HAYVN Pay an AC Holding Limited Dubai, offering,  digital asset-focused financial institution delivering Trading, Custody, Asset Management and Research services has processed over 22 000 cryptocurrency transactions to date in 2023.

As per HAYVN linkedIn post, “The market demands a payment platform that is accessible, regulated, affordable and efficient.”

The post adds, “HAYVN Pay is a regulation and technology-led business. We currently meet and exceed the requirements of several payment regulators and will continue to lead the integration of cryptocurrency into the traditional payments ecosystem.”

Prior to this announcement, HAYVN announced that it had received obtained initial approval from the Virtual Assets Regulatory Authority (VARA) in Dubai. HAYVN will now undertake the in-depth process of applying for a Virtual Asset Service Provider License, in accordance with VARA requirements.

The initial approval affirms HAYVN’s commitment to strengthening its presence throughout the by ensuring firm commitment to regulatory compliance in the region, which remains a core territory for HAYVN.

At the time CEO of HAYVN, Christopher Flinos stated, “We are delighted to have met the requirements for our initial approval from VARA and look forward to being part of VARA’s regulatory framework. VARA regulation solidifies our position as the trusted cryptocurrency provider regionally. This is a core market of ours, and our regulatory strength here further supports our broader GCC business. We are proud to be a regulation-led firm, committed to upholding the highest standards of regulatory compliance, as we continue to expand our presence and contribute to the growth of the digital asset ecosystem here in the UAE.”