UAE investors and consumers warned about memecoins by Dubai regulator VARA

UAE investors and consumers warned about memecoins by Dubai regulator VARA

UAE investors and consumers were officially warned about investing in memecoins by Dubai’s Virtual Assets Regulatory Authority (VARA) given the risks associated with advertisements promoting subscriptions to memecoins.

The UAE virtual asset regulator noted that memecoins are unregulated and highly risky in nature. The crypto regulator noted memecoins are highly speculative and volatile assets, frequently subject to market manipulation.

The regulator also stated that these memecoins lack intrinsic value and derive their pricing from social media trends, hype or misleading promotional strategies.

As such investors should exercise caution when presented with claims of unrealistic returns, as these often indicate fraudulent schemes.
There is a risk of significant financial loss within short timeframes due to price collapses, liquidity shortages, or scams.

Moreover VARA added that any virtual asset issuance from Dubai must ensure adherence with VARA Regulations and Rulebooks.
Any promotion, advertising, or solicitation of virtual assets must adhere to VARA’s Marketing Regulations.
Entities engaging in unauthorized virtual asset activities may be subject to enforcement action.

These memecoin platform may also be restricted without prior notice.

A new Web3 Alliance is formed in KSA

A new Web3 Alliance is formed in KSA

A new Web3 alliance has been formed in KSA . Animoca Brands, SandBox, and Outlier Ventures announced that they have united key Blockchain and digital innovation players towards to goal of driving adoption and Web3 technologies aligning with Saudi Arabia’s Vision 2030.

The non-profit association aims to create a collaborative ecosystem that empowers businesses and drives sustainable growth within Saudi Arabia by building on their previous initiatives and investments to advance the region’s digital landscape.

The alliance’s board is composed of industry leaders and experts based in Saudi Arabia, actively driving the Kingdom’s digital transformation. Supported by both international and local companies, these experts – including Dr. Abeer Al Humaimeedy, Yasser Alobaidan, Omar Elassar, Dr. Majid Almansouri, Wajd Badawi, Billal Yamak, Vincent Li, Bandar Altunisi, Ali Alasiri, and Stephan Apel – are deeply engaged in advancing innovation within the country.

“The Web3 Alliance of Saudi Arabia represents a crucial step forward in realizing the Kingdom’s vision for a digital future,” said Billal Yamak. “By bringing together expertise from both local and international leaders in the blockchain space, we’re creating a powerful platform for innovation and growth.”

On LinkedIn Bandar AlTunisi a Former Binance executive in MENA, stated, “Extremely excited to be a founding Board Member of the newly launched Web3 Alliance of Saudi Arabia (WASA)! WASA aims to accelerate the adoption and integration of blockchain technology and Web3 innovations in the Kingdom, through education, awareness, collaboration and policy support.”

The alliance will focus on four key pillars which include awareness and education, standards and best practice development, as well as research and development including networking and collaboration opportunities.

WASA will serve as the primary advocate for Web3 technology in the region, working independently to promote innovation rather than individual companies or entities.

The alliance’s governance structure includes a General Assembly and an Executive Committee, ensuring transparent and effective leadership. A comprehensive digital infrastructure and marketing strategy will support the alliance’s mission to connect and empower the Web3 community throughout Saudi Arabia.

Web3 enthusiasts, corporations, and industry leaders are invited to join the alliance and have a say in shaping the future of the Web3 ecosystem in Saudi Arabia.

NEOM and Outlier Ventures launched Web3 accelerator

In January of 2025, Neom, Saudi Arabia’s futuristic city being built on the shores of the Red Sea partnered with Saudi Arabian NTDP ( National Technology Development Program) and Outlier Ventures, a global Web3 accelerator, to launch the first Web3 accelerator and the FutureSpark Base Camp Demo Day.

Naif Abu Saida, Director of Web3 at Neom stated in a LinkedIn post, ” The future is here, and it’s powered by Web3. Since the beginning of our Web3 journey at NEOM, we’ve been working tirelessly to bring innovation to the forefront, and today, we’re proud to unveil the Kingdom’s first Web3 accelerator!”

UAE Mantra tokenization platform integrates Bitget Wallet

UAE Mantra tokenization platform integrates Bitget Wallet

Bitget Wallet, a leading Web3 non-custodial wallet, is now fully supporting the UAE based Mantra Mainnet, a Layer 1 blockchain focused on the tokenization of real-world assets (RWA).

As per the press release, with this integration, Bitget Wallet users can easily access Mantra’s network to transfer and receive $OM tokens, participate in cross-chain transactions, and explore staking opportunities through Mantra’s DApp.

The Mantra Mainnet is designed to enable the onchain representation of real-world assets, bridging the gap between traditional finance and blockchain ecosystems. Through tokenization, Mantra aims to provide a scalable and flexible foundation for integrating RWAs within decentralized finance (DeFi). By offering a compliant-ready framework, it positions itself as a key player in unlocking RWA potential.

Bitget Wallet’s integration with Mantra highlights its commitment to expanding user access to emerging on-chain asset ecosystems. Users can interact seamlessly with Mantra’s DApp, which offers $OM token staking, cross-chain functions, and official rewards programs. This integration aligns with the growing trend of bringing real-world asset exposure to the decentralized world.

Looking ahead, Bitget Wallet plans to deepen its collaboration with Mantra through upcoming reward programs designed to encourage user participation in the evolving RWA ecosystem. “As real-world assets move on-chain, wallets become gateways to a new era of finance,” said Alvin Kan, COO of Bitget Wallet. “Our partnership with Mantra accelerates this shift by providing users with direct access to tokenized assets, reshaping how value is stored, transferred, and grown in the digital world.”

UAE Tungsten Custody also announced support for Mantra

Earlier this week, UAE regulated, digital asset custodian, Tungsten Custody Solutions Ltd, also announced its support for UAE MANTRA (OM) Blockchain with its custodial services.

The collaboration would enable institutional clients to securely custody OM tokens while leveraging Tungsten’s regulated framework, ensuring the highest levels of security, transparency, and compliance. Tungsten Custody’s collaboration with MANTRA reinforces its commitment to supporting the broader MANTRA blockchain ecosystem that empowers developers and institutions to seamlessly participate in the evolving real world asset (RWA) tokenization space.

Mantra Blockchain to tokenize $1 billion worth of Assets for DAMAC

The support Mantra Blockchain for real world tokenization comes weeks after Mantra announced it would be tokenizing $1 billion worth of assets for DAMAC Group in the UAE.

Saudi based Oumla Blockchain has partnered with Chainlink

Saudi based Oumla Blockchain has partnered with Chainlink

Oumla, a Layer 1 blockchain platform that allows applications to be built on any blockchain with ease, as well as offers a secure vault infrastructure for storing digital assets has announced its partnership with Chainlink.

Chainlink Labs is one of the primary contributing developers of Chainlink, the standard for onchain finance, verifiable data, and cross-chain interoperability. Chainlink is unifying liquidity across global markets and has enabled over $17 trillion in transaction value across the blockchain economy. Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as top DeFi protocols including Aave, GMX, and Lido, use Chainlink to power next-generation applications for banking, asset management, and other major sectors.

In an X post Oumla stated, “We are pleased to announce that Oumla is partnering with chainlink and adopting the Chainlink standard on OumlaChain, a compliance-focused, permissioned blockchain in Saudi Arabia.”

The post adds, ” Bringing Chainlink SmartData to OumlaChain empowers enterprises, financial institutions, and government entities to move onchain, supporting the Kingdom’s blockchain innovation and digital transformation.”

Oumla in KSA, offers an intuitive infrastructure that caters to both businesses and government entities. The platform offers a suite of APIs and SDKs, enabling developers to build applications on top of any blockchain, including Ethereum Virtual Machine (EVM)-based networks, without the need to master complex, low-level blockchain-specific protocols.

Oumla already partnered with Avalanche Blockchain

Prior to this announcement, Oumla partnered with Avalanche Blockchain to create Saudi Arabia’s first Layer on Blockchain fully hosted in the country.

At the time Oumla stated, “This collaboration will support startups and SMEs, driving technological innovation across Saudi Arabia and the MENA region. It will bring a secure, locally-hosted blockchain platform closer to home, we’re paving the way for growth and innovation aligned with Saudi Vision 2030. This partnership is part of our larger mission to develop the products the region needs to thrive in Web3 and blockchain technology, preparing the MENA market for a seamless transition into the digital future.
We’re excited to bring this vision to life and drive the next wave of technological transformation!”

Adaverce, the venture capital fund and Web3 accelerator with a base in KSA, invested in Oumla. In 2024 Adaverse published its first Web3 ecosystem report for the Kingdom of Saudi Arabia showcasing growth, opportunities, as well as challenges. Since its inception, Adaverse has funded 54+ startups across Asia, the Middle East and Africa.

In addition Outlier Ventures has also chosen Oumla for its Spark accelerator program.

Chainlink has a presence in the UAE

In December 2024, Chainlink Labs, expanded its presence in the Middle East and North Africa (MENA) region, and set up an office and an entity in Abu Dhabi under the Registration Authority of ADGM.

At the same time, UAE Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, added a fifth council member of its Digital Asset Lab – Chainlink.

CEO of QFC believes AI and Blockchain broaden access to alternative investments

CEO of QFC believes AI and Blockchain broaden access to alternative investments

The CEO of Qatar Financial Center made some interesting remarks during The third edition of the annual Qatar Financial Market Forum 2025 themed ‘Public Growth and Private Capital’ was hosted by Qatar Financial Centre (QFC), in collaboration with Bloomberg Intelligence (BI), the research division of Bloomberg LP. He noted that emerging technologies are evolving at an unprecedented pace and no industry is untouched especially the financial markets, and that AI and Blockchain are broadening access to alternative investments

Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC in his opening speech noted that disruptive technologies like AI and Blockchain are enhancing efficiency and creating new financial products.

He also added that advances in AI and data analytics are enhancing private lending efficiency, improving risk assessments and opening new opportunities for private credit providers, while digital platforms, leveraging blockchain and AI are broadening access to alternative investments, attracting a more diverse range of investors, he said.

As public markets become more volatile due to geopolitical tensions, trade disputes and rising debt levels, investors are increasingly diversifying into alternative investments, such as private equity and credit to hedge against financial uncertainty while seeking higher returns and reduced exposure to market fluctuations.

QFC has been at the forefront of bringing Blockchain and AI technologies into the financial sector. Their focus is on tokenization of real estate securities, and bonds. QFC has already not only created the digital assets lab, but also a DLT and digital assets framework. Companies such as R3, The Hashgraph Association and SettleMint have joined the ranks as partners to support the digital asset and tokenization goals set by QFC.

Qareeb data centers and bitcoin miner Pantheon to rollout Bitcoin mining data centers in MENA

Qareeb data centers and bitcoin miner Pantheon to rollout Bitcoin mining data centers in MENA

Bahrain based Qareeb Data Centres, a Middle East edge data center provider, and Pantheon, a full-service global Bitcoin mining service provider, have partnered to cover the rollout of Pantheon Bitcoin mining data centers across the Middle East region.

Pantheon is a global Bitcoin mining company dedicated to building efficient, profitable mining operations. Through its Mining as a Service (MaaS) model, Pantheon offers clients tailored solutions that simplify Bitcoin mining for HNWI and financial institutions which aims to enter the MENA region.

As per the press release, Qareeb will act on behalf of Pantheon to secure sites adjacent to locations where Qareeb has secured, or is in the process of securing, sites to build its own colocation facilities. In addition, the Qareeb team will deliver fully-fitted and operational solutions for Pantheon as part of its build process as well as provide a full suite of engineering, operations, security and FM services.

“Partnering with Pantheon represents a significant opportunity for Qareeb, as we collaborate with one of the most exciting visionaries in the Bitcoin mining industry,” said Annemarie van Zadelhoff, Chief Strategy Officer at Qareeb. “Pantheon’s dedication to innovation and operational excellence aligns perfectly with our mission to deliver state-of-the-art data centre solutions across the Middle East. This partnership reflects our shared commitment to building a future-ready digital infrastructure and setting new standards for innovation and resilience in the region.”

Nick van Houtrijve, COO and Founder of Pantheon, added, “Pantheon’s expansion into the GCC is a strategic milestone as we continue to set new benchmarks for operational efficiency and performance. This partnership with Qareeb enables us to establish robust infrastructure in one of the fastest-growing Bitcoin mining markets globally.”

Saudi Arabia attracts $22.4 billion in investments for AI and Datacenters

Saudi Arabia attracts $22.4 billion in investments for AI and Datacenters

Saudi Arabia in the first two days of the LEAP 2025 conference has attracted $22.4 billion worth of investments in technology and artificial Intelligence fueling as well datacenter expansions in the country.

Datacenters grow exponentially in KSA

Datacenters for AI and other technologies has become the major cornerstone of investments in Saudi Arabia.

Examples of these investments include NEOM’s collaboration with Datavolt to invest $5 billion to build the world’s first fully sustainable AI data center with a capacity of 1.5 gigawatts in OXAGON. Not only that but Mobily telecom announced an investment of $911 million in strategic projects to develop digital infrastructure, including submarine cables and the development of data centers in Saudi Arabia.

Alfanar Company revealed an investment of $1.4 billion to develop four data centers with a capacity of 88 gigawatts, to support the growth of the digital economy and develop business solutions. While Zoom is investing $75 million to boost artificial intelligence and innovation, and to establish new data centers to support technology companies and government agencies in Saudi Arabia.

Further more, Palo Alto-based AI company SambaNova Systems announced $140 million in investments in Saudi Arabia’s AI infrastructure, partnering with the Ministry of Communications and Information Technology (MCIT) and the RDIA’s National Semiconductor Hub. SambaNova CEO Rodrigo Liang announced that the company is also launching a Sovereign LLM-as-a-Service in collaboration with STC AI, offering the world’s largest open source model LAMA 405B and running other capabilities such as STC’s Enterprise GPT. Liang also announced that SambaNova will soon offer the full DeepSeek 671 billion parameter R1 model on SambaNova Cloud. The model will be made available to select customers first, before being made more widely accessible.

Saudi Arabia unveiled technology investments and strategic partnerships worth $14.9bn at the LEAP technology conference in Riyadh on February 9, marking a significant expansion of the kingdom’s artificial intelligence and digital infrastructure.

Groq also announced it would $1.5bn to establish the world’s largest AI-focused data center in the kingdom. Even Google will also launch a global cluster in Saudi Arabia to meet regional and international AI demand.

“If you look at Saudi Arabia alone and put it in the EU region, it would be the fifth-largest tech hub in Europe,” said Communications Minister Abdullah Al-Swaha, noting that the region’s digital economy has grown 73% to reach $260bn, with Saudi Arabia representing 15% of this market.

There is also a $2bn joint venture between Ālat and Lenovo to build an advanced AI and robotics-driven manufacturing and technology centre, alongside establishing Lenovo’s regional headquarters in Riyadh.

Additionally, Zoom is set to announce the launch of a dedicated data center in Saudi Arabia along with new AI-driven innovations designed to meet the needs of businesses, government entities, and individuals in the Kingdom. Setting out plans for significant investment in Saudi Arabia over the next three years, Zoom’s VP – METAP Region, said the organization is aligned with Saudi Vision 2030 and the Kingdom’s rapid journey to becoming a global technology hub.

“Our presence in Saudi Arabia reflects the power of innovation, ingenuity, and collaboration,” said Mohannad AlKalash, VP – METAP Region. “Through investments in local infrastructure and the development of Arabic-language AI solutions, we are enabling businesses to thrive and lead in a rapidly evolving digital landscape. Together with the Kingdom, we are helping to build a future where technology fuels progress, opportunity, and sustainable growth.”

Furthermore, AMD has now opened a branch office in Riyadh to better support customers and partners in the Kingdom of Saudi Arabia (KSA).

“Saudi Arabia is one of the world’s fastest-growing technology marketplaces and Leap 2025 serves as an ideal opportunity to showcase our leading-edge technologies and innovative solutions for the HPC and Enterprise markets”, said Zaid Ghattas, META Regional Lead, AMD. “Establishing an official presence in the Kingdom underlines the growing importance of the Kingdom and we are excited about the opportunities this will bring”.

DeepSeek enters KSA

Chinese artificial intelligence firm DeepSeek has begun operating through Aramco Digital’s data centres in Dammam, Saudi Arabia, marking another significant development in the kingdom’s expanding AI infrastructure, company officials announced on February 9 at the conference.

“The data is stored locally and never transferred elsewhere once used,” said Tariq Amin, former CEO of Aramco Digital, during his conference address in Riyadh. “We anticipated the world’s need for proper AI model inference and operations, particularly with DeepSeek,” he added.

The announcement comes as DeepSeek, has expanded into Saudi Arabia through Aramco Digital’s facilities.

Prince Alwaleed KBW ventures to invest 30% in MENA

In an interview with AGBI magazine, Saudi investor Prince Khaled bin Alwaleed’s KBW Ventures which historically has invested 90 percent of its funds in US companies is now keen to invest closer to home, according to its chief investment officer. CIO Ekta Tolani says KBW Ventures now wants to invest at least 30 percent of its funds in the Mena region, particularly Saudi Arabia, and has a renewed focus on profitability, not just growth.

Hodler Investments launches NEXGEN to energize datacenters in KSA

HODLER INVESTMENTS, a UAE based investment company, headquartered in the Dubai, which includes in its portfolio energy, AI, and digital asset mining startups such as PermianChain, Brox Equity and others; and Abu Dhabi’s EHC Investment which leads multiple businesses with operations and investments across the energy, infrastructure, firefighting technology and system integration services signed a strategic partnership to launch NEXGEN.

NEXGEN will support the creation of a compliant digital energy market to supply critical energy infrastructure that will monetize wasted energy such as flared gas in the UAE, KSA, and Egypt with the aim of hosting global data center operators, reducing carbon emissions and contributing the Digital Energy Infrastructure (DEI) Fund, a local decarbonization innovation fund.

Hub71 admits Five digital asset startups to Cohort 16

Hub71 admits Five digital asset startups to Cohort 16

Hub71, Abu Dhabi’s global technology ecosystem, has admitted, five digital asset startups out of a total of 27 startups into its latest Cohort 16. The startups span across its three programs: Access, Hub71+ ClimateTech, and Hub71+ Digital Assets. Invoice Mate, Rilla Network, Sustainable Bitcoin Protocol, and 1Money are part of the Digital assets program.

Since the onset of Hub71 the venture ecosystem has support 357 startups, collectively securing over $145 million with an average of $4.9 million per company.

Over 1,300 companies/startups submitted applications. Under the Hub71 Digital assets program was InvoiceMate is a Blockchain & AI powered platform bridging conventional businesses with crypto liquidity, Redbrick is a cloud-based game and metaverse engine using blockchain and AI to streamline creation and distribution for all skill levels, Rilla Network is a decentralized infrastructure that unlocks the hidden potential of live streaming ecosystems while delivering exponential savings, Sustainable Bitcoin Protocol enables institutional investors to embed verifiable clean energy into their Bitcoin holdings—transforming Bitcoin’s distributed energy demand into a catalyst for the global energy transition, and 1Money which is developing the world’s first payment network exclusively designed for stablecoins, and specifically engineered to be the fastest, cheapest, and most compliant.

Among the new participants in Hub71’s Access programme is Vivan Therapeutics, a UK-based precision medicine company developing AI-driven cancer treatments using fruit fly models. The firm has raised US$10 million (AED 36 million) in funding. While in the Climate Tech program is Theion, a German company focused on developing sustainable sulphur-based batteries that can store up to three times more energy than conventional batteries.

Ahmad Ali Alwan, CEO of Hub71, said, “The selection process is highly competitive, reflecting the exceptional calibre of startups in our ecosystem. These companies are advancing innovation across key tech sectors while strengthening Abu Dhabi’s position as a global tech hub.”

The selected companies will benefit from access to Hub71’s network of mentors, partners, and investors, providing them with market opportunities, talent, and capital to support their commercial growth.


Educhain Blockchain partners with Sharjah Maritime Academy

Educhain Blockchain partners with Sharjah Maritime Academy

During the Sharjah Maritime Academy (SMA) symposium, “Higher Ed AI & Digital Transformation,” Educhain, Canadian blockchain digital credential solutions provider, presented their Blockchain credential solution announcing their partnership with Sharjah Maritime Academy.

As part of its commitment to digital transformation, Sharjah Maritime Academy has partnered with Educhain to implement secure digital credentialing, ensuring that students can access, share, and verify their academic records seamlessly. The academy is also preparing to introduce micro-credentials, allowing students to receive verifiable certifications for specialized skills and achievements, further enhancing their employability.

The event highlighted how institutions are leveraging AI-driven automation, predictive analytics, and blockchain technology to streamline academic operations and enhance learning experiences.

The symposium featured prominent speakers, including Dr. Hamad Odhabi, Vice Chancellor of Abu Dhabi University; Amina Abdulrahim, Executive Director of ICT & IT Security at American University of Sharjah; Dr. Nadia Alqabanji, IT Director at Zayed University; and Inas Abou Sharkh, Director of IT at Ajman University. They shared insights on how AI is transforming student engagement, academic decision-making, and institutional efficiency. A key theme throughout the discussions was that incorporating digital technologies is no longer an option but a necessity for universities seeking long-term growth and relevance.


Among the key technology innovators featured at the symposium, Educhain presented its blockchain-powered credentialing solutions, demonstrating how universities worldwide are leveraging its technology to issue secure, verifiable digital documents.

Rahil Ahmed, VP of Sales at Educhain, highlighted how top universities in the region are already utilizing Educhain’s platform to issue tamper-proof degrees, transcripts, student ID cards, and micro-credentials. “Academic credentials must evolve to be more secure, efficient, and accessible. With blockchain, institutions can issue verifiable digital records that students own, eliminating the risk of document fraud while streamlining verification processes for employers and universities worldwide,” said Rahil Ahmed.

Educhain’s blockchain-backed infrastructure ensures that academic documents are tamper-proof and instantly verifiable, eliminating manual validation bottlenecks and improving overall institutional efficiency.

Reflecting on the significance of the symposium and SMA’s digital initiatives, Muhammad Affan, IT Director at SMA and the event’s organizer, stated: “At Sharjah Maritime Academy, we recognize that AI and digital transformation are not just trends but fundamental shifts in how education must evolve. This symposium is a stepping stone toward integrating cutting-edge technologies that will shape the future of learning and academic administration.”

UAE Crypto custodian Tungsten to custody Mantra Blockchain tokens

UAE Crypto custodian Tungsten to custody Mantra Blockchain tokens

UAE regulated, digital asset custodian, Tungsten Custody Solutions Ltd, will support UAE MANTRA (OM) Blockchain with its custodial services.

As per the press release, the collaboration will enable institutional clients to securely custody OM tokens while leveraging Tungsten’s regulated framework, ensuring the highest levels of security, transparency, and compliance. Tungsten Custody’s collaboration with MANTRA reinforces its commitment to supporting the broader MANTRA blockchain ecosystem that empowers developers and institutions to seamlessly participate in the evolving real world asset (RWA) tokenization space.

MANTRA is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real world regulatory requirements. The OM token is the core utility and governance token of the MANTRA Chain ecosystem and powers various features of the blockchain. By integrating with Tungsten Custody, institutional investors and funds can now access regulated custody, enhanced accessibility, and robust infrastructure.
Jose J. Perez Aguinaga, SEO of Tungsten, commented, “The integration of MANTRA (OM) into our custody services, along with our collaboration with the MANTRA , represents a key milestone in our mission to provide institutional investors with secure, compliant, and scalable digital asset solutions. As blockchain adoption expands, regulated custody is essential for bridging institutional finance with decentralised ecosystems. Tungsten Custody is proud to support MANTRA’s vision and provide the infrastructure needed for institutional participation in tokenised economies.”

John Patrick Mullin, Co-Founder & CEO of MANTRA, added, “At MANTRA we firmly believe that institutional adoption is best driven through a commitment to security, regulation and compliance. The integration of OM into Tungsten Custody’s growing portfolio of supported assets, underscores a shared commitment to bridging traditional finance with blockchain-powered institutional services – particularly in the United Arab Emirates – a key region for MANTRA.”

Mantra Blockchain tokenization platform has been making strong strides in the UAE tokenization ecosystem especially with its recent agreement with DAMAC to tokenize $1 billion worth of assets.