UAE Blockchain and AI enabled TradeTech starts next phase

UAE Blockchain and AI enabled TradeTech starts next phase

The UAE has commenced with the AI and Blockchain enabled TradeTech Initiative. The announcement was made during the WTO Public Forum in Geneva, Switzerland. The UAE confirmed that Artificial Intelligence (AI) will be the core focus of the second stage of the program.

Abdelsalam Mohamed Al Ali, Minister Plenipotentiary and Director-Representative of the Permanent Mission of the UAE to the World Trade Organisation (WTO), revealed the plans during his introductory remarks at a session titled “TradeTech Interviews: The Thinker, the Innovator, and the Builder”, which explored the impact of tools such as AI on global trade.

“AI will be our primary focus for this year, offering unmatched potential to streamline logistics, optimize trade finance, and enhance decision-making across supply chains,” Al Ali noted. “Integrating AI into trade systems will unlock new levels of efficiency, predictability, and resilience, making global trade faster and smarter. TradeTech is fundamentally about breaking down barriers – those that slow the flow of goods, limit market access, and increase costs. By embracing innovation, we aim to make trade more responsive and inclusive, benefiting all stakeholders from large corporations to small enterprises and from developed nations to emerging economies.”

The TradeTech Initiative was launched by the Ministry of Economy and the Abu Dhabi Department of Economic Development in collaboration with the World Economic Forum at Davos in January 2023, with the goal of inspiring the integration of advanced technologies throughout global supply chains. The first year of the initiative led to the creation of the first TradeTech Report and the inaugural TradeTech Forum in Abu Dhabi, which coincided with the 13th Ministerial Conference of the WTO.

The second phase of the initiative will now see the development of a Regulatory Sandbox for Artificial Intelligence in trade finance and an Accelerator to foster new solutions that enhance the role of technology in trade.

“The TradeTech initiative represents a vision of a world where trade is more efficient, inclusive, and sustainable. By harnessing technologies like distributed ledger technology, AI, and automation, we aim to revolutionize global trade. The UAE, as a major trading hub, is leading this charge, setting new standards and driving innovation in TradeTech,” Al Ali added.

Bybit crypto exchange offers shariah compliant trading products

Bybit crypto exchange offers shariah compliant trading products

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the launch of its Islamic Account, offering Muslim traders a suite of shariah compliant trading products. As per Bybit it is the first global cryptocurrency exchange to offer such a service to Muslim traders worldwide providing them with an inclusive platform to engage in the digital asset market.

Developed in consultation with ZICO Shariah Advisory Services Sdn. Bhd. (ZICO Shariah) and CryptoHalal to ensure compliance with the Shariah principles, the account ensures that all products strictly adhere to Islamic finance principles.

Some of the key features is that it is accessible globally, and includes in its initial offering of 74 Shariah compliant tokens, DCA trading bot, and Spot Grid Bot.

It also offers double Shariah Certification, crypto Halal Certification, along with official Shariah certification from ZICO Holdings, guarantees that all products meet the highest standards of Islamic law.


The Islamic economy, serving nearly 1.9 billion people worldwide, is experiencing rapid growth. The Islamic finance sector is currently estimated to be worth a staggering $2.3 trillion, and the Middle East, Africa, and South Asia (MEASA) region is poised to drive its continued expansion. By offering a Shariah-compliant trading platform, Bybit is tapping into a vast and growing market, providing Muslim traders with a trusted and reliable solution.

“We are thrilled to introduce our Islamic Account, which represents a major milestone in our commitment to providing inclusive and accessible trading solutions,” said Joan Han, Sales & Marketing Director at Bybit. “By partnering with Crypto Halal and ZICO Holdings, we have ensured that our offerings align with the principles of Islamic finance, empowering Muslim traders to participate in the growing cryptocurrency market.”

Bybit recently received its full VASP license in the UAE from Dubai’s Virtual Asset Regulatory Authority.

Taurus in Qatar is offering digital asset, crypto and tokenized securities solutions

Taurus in Qatar is offering digital asset, crypto and tokenized securities solutions

Taurus announced its strategic partnership with the Qatar Financial Centre (QFC) Authority as part of the QFC Digital Assets Lab which will allow it to serve banks and financial institutions across Qatar and MENA by delivering enterprise technology from digital assets, to crypto to tokenized securities.

As per the press release, the QFC Digital Assets Lab is a key initiative within the QFC Innovation Dome, which is designed to accelerate innovation in digital assets and Distributed Ledger Technology (DLT). By fostering collaboration between businesses, start-ups, and researchers, the lab aims to position Qatar “as a leader in the digital economy, guided by the newly introduced QFC Digital Assets Regulatory Framework 2024.”

The framework sets rigorous standards for tokenization, legal recognition of digital assets, and the use of smart contracts, ensuring the highest levels of security and transparency. As a digital asset infrastructure provider, Taurus provides secure and scalable solutions for the custody, tokenization, and management of digital assets.

Through the QFC Digital Assets Lab, financial institutions in the region will now have access to Taurus’ enterprise-grade technology, which supports the full range of digital assets, from cryptocurrencies to tokenized securities.

Bashir Kazour, Managing Director at Taurus, commented, “The QFC Digital Assets Lab offers a robust regulatory environment, making Qatar a prime location for digital asset innovation. We are pleased to bring our expertise in digital asset management to this dynamic market and better serve our clients and partners across the Middle East.”

Taurus SA is a Swiss Fintech founded in April 2018, provides enterprise-grade digital asset infrastructure to issue, custody, and trade any digital assets, including cryptocurrencies, tokenized assets, NFTs, and digital currencies.

Depending on their business model, strategy, and risk tolerance, Taurus’ clients can seamlessly manage cryptocurrencies “including staking, digitize and tokenize any type of asset on any standard end-to-end, and process digital currencies of their choice.”

Taurus’ product portfolio is composed of  Taurus-PROTECT, the leading secure storage solution in Europe which is currently used by more than 30 financial institutions and corporations. Taurus-CAPITAL allows clients to issue and “manage tokenized assets on public and permissioned blockchains, as well as interact with any smart contract.

Both The Hashgraph Association as well as R3 also announced their partnerships with QFC digital assets lab and their offering.

Henri Arslanian launches children’s book Decoding crypto

Henri Arslanian launches children’s book Decoding crypto

Blockchain digital assets analyst and expert Henri Arslanian has launched Decoding Crypto with Henri & Hodler, a groundbreaking new children’s book that combines education with entertainment, guiding young readers through the fascinating world of digital assets, blockchain technology, and the future of money.

As per the press release, Decoding Crypto with Henri & Hodler is just the beginning of an ambitious project to bring digital literacy and financial education to children worldwide.

As the first book in an exciting new series, Decoding Crypto with Henri & Hodler takes readers on an adventurous learning journey alongside two charismatic crypto-enthusiasts, Henri and Hodler, who, together with a lively cast of characters—including the tech-savvy Solidity, and buddies Naka and Moto—make complex topics fun and engaging.


Through clever rhymes, vivid illustrations, and creative interactive elements, children learn about the history and evolution of money and discover new concepts about the future of money, from Bitcoin and Ethereum to the latest trends in DeFi, NFTs, Metaverses, and more.
The book introduces readers to these topics in a clear, easy to follow “A-to-Z” format, beginning with Altcoin, Bitcoin, and Cryptography … and continuing through to Yield Farming and ZK-Proof.


Developed in Collaboration With Crypto Firms Ledger and First Digital The book’s production and development spanned over three years and included interviews with dozens of educators, teachers, and parents to ensure that the subject matter is presented in a
clear, ethical, and responsible manner.


The book is powered by collaborations with leading crypto firms, with Ledger serving as the premier technology partner and First Digital serving as the premier education partner.

Decoding Crypto with Henri & Hodler is co-authored by Henri Arslanian, a globally recognized thought leader and educator in the world of crypto and digital assets. Henri is the author of several bestselling books on crypto and the future of money including “The Book of Crypto” and “The Future of Finance.”

With his experience as a university professor teaching crypto since 2015, the host of the Crypto Capsule LinkedIn educational series that is shared weekly with his over half-million LinkedIn followers, and recently the co-host of the Crypto Weekly show on CNBC Arabia, Henri brings a wealth of knowledge and a passion for educating the next generation on the future of finance.
Co-author, Michael Dotsikas, is a bestselling children’s author, creator of the award-winning “Benjamin Birdie” children’s picture book series, an experienced writer, and sought-after literary mentor with a deep commitment to making complex topics accessible and engaging for young readers, while devoted to mindful storytelling.


Together, they have crafted a book that not only demystifies the often-complex world of digital assets but does so in a way that is fun, interactive, and suitable for children of all ages. The book is illustrated by Billy Martin, who is best known as the lead guitarist for the
multi-platinum selling bank Good Charlotte.

Yat Siu, Chairman and Co-Founder of Animoca Brands, calls it “a perfect introduction to the world of blockchain and the future of money for the next generation,” while Pascal Gauthier, CEO of Ledger, highlights the book’s vital role in empowering children: “The transformative power of cryptocurrencies is something everyone needs to understand, and kids first! This book
is a must-read!”

Unlike traditional children’s books, Decoding Crypto with Henri & Hodler takes an interactive storytelling approach, blending vibrant comic book style illustrations with playful, engaging narrative to create a dynamic learning experience, capturing the imagination while inviting
reader participation.


A unique feature is the inclusion of QR codes throughout, which lead readers to additional resources, offering deeper insights into the various concepts and terms explored in the story.


Another valuable educational element is the added in-depth glossary and appendices of “fun facts” designed to equip parents and educators with additional knowledge, empowering them to better understand the subject matter.

Rain and Bahrain launched pad backed by Sovereign Wealth fund to support MENA startups

Rain and Bahrain launched pad backed by Sovereign Wealth fund to support MENA startups

Bahrain and UAE based Rain crypto trading platform has partnered with Spring Studio’s launchpad, backed by the Sovereign wealth fund of Bahrain, Al Waha Fund of Funds, ad global venture capital firm Salica investments.

As per Rain LinkedIn post, ” We are happy to announce Rain’s partnership with Spring Studios’ Launchpad. As the first licensed crypto provider in the Middle East, Rain is committed to supporting innovative founders across the region. Founders will have direct access to our internal teams, unlocking unique opportunities in one of the fastest-growing fintech ecosystems in MENA.”

Spring Studios which caters to MENA founders, is helping to create the next wave of exceptional startups.

Spring Studios equips founders with capital, expert in-house capability, and verification from MENA’s leading investors to build startups with a greater probability of success.

This comes as Bahrain grants its fourth crypto license in the country with Crypto.com now able to offer crypto payments through its license from the Central Bank of Bahrain.

Rain was the first crypto broker to be licensed in Bahrain. It then was granted a license in the UAE from Abu Dhabi.

OKX crypto exchange license in UAE is now fully active

OKX crypto exchange license in UAE is now fully active

OKX crypto exchange now has a fully active crypto exchange license from Dubai’s regulator VARA ( Virtual Asset Regulatory Authority), published on VARA website today.

OKX with this active license is now authorised to serve Institutional Investors, Qualified Investors and Retail Investors. It can also offer virtual asset margin Trading Services permitted to Institutional Investors and Qualified Investors under the VA Exchange License.

OKX can also offer crypto derivatives Trading Restricted to Institutional Investors and Qualified Investors for VA Derivatives Limited License.

In February 2024 OKX received its crypto exchange VASP license from Dubai UAE through VARA ( Virtual Asset Regulatory Authority), and then a license in Turkey. OKX TR, will provide Turkish users with a trusted, compliant and transparent gateway to crypto trading and decentralized finance. The OKX Web3 Wallet is currently available in Türkiye through OKX’s global platform.

Earlier this week, Bybit received its VASP license from VARA, which is currently not active until all requirements are met. Already global players like Binance, Crypto.com have received licenses in UAE as well.

R3 to power tokenization projects in Qatar’s Digital Assets Lab

R3 to power tokenization projects in Qatar’s Digital Assets Lab

R3 which is a partner within the Qatar Financial Centre (QFC) Authority as part of the QFC Digital Assets Lab has announced that it will power tokenization projects across Qatar’s financial industry.

As per a Linkedin post, “This initiative signals Qatar’s bold ambition to become a leading innovator in the rapidly evolving landscape of digital assets. The Digital Assets Lab will be a hub for collaboration and innovation and provide a platform for transforming digital concepts into practical, industry-ready technologies.

R3 Founder and CEO, David E Rutter said, “Over the last year, R3 and QFC’s joint working groups have explored emerging regulatory paradigms and illustrated the benefit of nationally deploying DLT technology. We are honored that QFC Lab has chosen R3 as its trusted digital infrastructure provider. The QFC Digital Assets Lab enables participants, such as corporations, banks, and buy-side firms to explore use cases from proof of value to full production validation on Corda. As the base product for the QFC ecosystem, R3’s Corda will power tokenization projects across Qatar’s financial industry, supporting the issuance, transfer, and redemption of digital assets.”

R3 notes that it will continue to support the robust digital assets ecosystem in Qatar and building the digital financial markets.

R3 has been working with governments and banks across the GCC region on CBDC projects as well, including the UAE and KSA.

Saudi cloud provider Virtual Vision introduces Blockchain as a service

Saudi cloud provider Virtual Vision introduces Blockchain as a service

 Saudi Arabian cloud provider, Virtual Vision (V2), has expanded its service portfolio with the introduction of Blockchain-as-a-Service (BlaaS) provided by CloudSigma and Red Date Technology.

Tailored for the Saudi business landscape, this initiative will solidify V2’s leadership in public cloud services and equip regional enterprises with innovative blockchain solutions. With a surge of interest from businesses in adopting blockchain technology, the technical complexities and high costs involved in configuring, operating, and managing a blockchain infrastructure can often act as barriers.

V2’s BlaaS streamlines the process, allowing businesses to easily create, manage, and operate blockchain applications in its cloud environment. BlaaS simplifies the adoption of blockchain, making it a usable and affordable tool for businesses.

This collaboration follows the successful enablement of the Blockchain-as-a-Service capability powered by Red Date Technology’s RDCloud Software platform into the V2 Cloud in Saudi Arabia.

As the first local BlaaS provider in Saudi Arabia, V2’s BlaaS offering is uniquely positioned to revolutionize the region’s digital and economic landscape, empowering dramatic cost reductions—up to 89% in development, 66% in training, and 45% in overall operational expenses—making it a cost-effective solution for businesses of all sizes.

Moreover, V2 stands out in the Saudi market with its strong local presence, which ensures compliance with national regulations and offers customer service tailored to the local business environment, which is further enhanced by V2’s connection to major Saudi telecom providers, ensuring high-speed and secure data transmission across the network.

Hazem Sandouka​, COO at Virtual Vision​, noted, “We are thrilled to announce the launch of the Blockchain as a Service (BlaaS) on our cloud platform, a pioneering initiative specifically tailored for Saudi Arabia. This strategic expansion is not just about technology adoption, it’s about seamlessly integrating blockchain into the heart of digital transformation efforts across the kingdom. By offering this service, we aim to empower organizations in Saudi Arabia to meet their unique needs with sovereign cloud solutions, ensuring that data sovereignty and security are at the forefront. Our commitment is to provide a robust infrastructure that enhances transparency, efficiency, and trust, aligning with Saudi Arabia’s visionary goals for a digital-first future.”

Tim Bailey​, VP of Global Business & Operations at Red Date Technology​ added, “The Middle East is a strategically important region for our global expansion, and we are proud to partner with Virtual Vision and CloudSigma to deliver innovative decentralized solutions to customers in Saudi Arabia. We believe that our partnership with both technology leaders will enable us to continue to expand our global footprint, deliver even greater value to our customers, and help drive innovation in the blockchain industry.”

This collaboration combines the technical strength and commercial expertise of three industry leaders in their respective business segments. Together, Virtual Vision, CloudSigma, and Red Date Technology are set to reshape the digital frontier in Saudi Arabia, offering businesses and institutions the transformative power of blockchain that will enable innovative applications.

Soter a digital asset insurer, a portfolio company of UAE Further Ventures receives initial regulatory approval from BMA

Soter a digital asset insurer, a portfolio company of UAE Further Ventures receives initial regulatory approval from BMA

A portfolio company of Abu Dhabi based Further Ventures, Soter Insure, a provider of insurance products tailored to the digital asset economy, whose CEO was the former CEO of VARA Dubai ( Virtual Asset Regulatory Authority), has received initial approval from the Bermuda Monetary Authority (BMA), to offer a range of insurance solutions designed specifically for institutions operating in the blockchain and cryptocurrency space.

As per the press release, the approval marks a significant milestone for Soter, enabling the company to address the evolving risk management needs of the digital asset sector.‍

“This regulatory approval is a testament to the vision we share with our partners and the growing need for tailored risk management solutions in the digital asset space,” said Henson Orser, CEO of Soter Insure. “With the rise of institutional adoption of blockchain technology, our products provide a critical layer of security for asset managers, funds, and validators. We are proud to offer coverage that aligns with the assets themselves—whether it’s Bitcoin, Ethereum, or other native currencies—allowing policyholders to be indemnified in the very currency they are seeking to protect.”

Further Ventures noted on LinkedIN, “Our portfolio company Soter Insure has just announced receiving the initial approval from the Bermuda Monetary Authority. Great start for the project as we plan to share more updates and valuable content soon!”

Further Ventures is a venture builder and investment firm based in Abu Dhabi. It supports innovative startups such as fintech, VASPs which include virtual asset payments products, blockchain based asset custody and security solutions, and others. ‍

Soter has offices in Abu Dhabi Global Market Square, Abu Dhabi, United Arab Emirates

Previously UAE headquartered Fuze, a digital assets infrastructure provider, raised a seed round of $14mn, the largest Seed investment in a digital assets startup in the history of the Middle East and North Africa region (MENA) led by Abu Dhabi-based Further Ventures, along with participation by US-based Liberty City Ventures.

Soter’s product suite includes Directors & Officers (D&O) coverage, Asset Loss policies, and a unique Slashing insurance product that protects validators in Proof of Stake networks. Notably, all policies are denominated in the native digital currency being insured. For instance, Ethereum Validator Slashing losses are paid out in Ether, while Bitcoin asset loss policies are settled in Bitcoin—a groundbreaking approach that ensures alignment between the asset at risk and the insurance coverage.

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CoinMENA crypto trading platform makes it easier to trade crypto assets with Mesh

CoinMENA crypto trading platform makes it easier to trade crypto assets with Mesh

CoinMENA, the crypto asset trading platform in MENA, has now made it easier to trade crypto assets, without the hassle of entering long crypto addresses, QR codes or seed phrases, with its recent partnership with Mesh, the connectivity layer for crypto.

As per the press release, the collaboration aims to enhance digital asset transfer services by allowing CoinMENA’s trusted platform to be embedded into Mesh’s product suite, setting new standards for secure and user-friendly crypto services in the region.

With this new partnership, Mesh’s API-based solutions will enhance the overall experience for CoinMENA users using other platforms, with crypto transactions being not only seamless but also more secure. 

With the crypto trade platform joining Mesh’s extensive network of integrations, managing crypto across platforms becomes significantly easier for its users. The integration enables CoinMENA users to access their accounts directly from other platforms without the hassle of long crypto addresses, QR codes, and seed phrases.

“As the leading crypto trading platform in the region, we are thrilled to team up with CoinMENA to help transform the user experience for crypto users in the Middle East,” said Bam Azizi, CEO and Co-Founder of Mesh. “Partnerships like this are essential to our goal of onboarding the next billion users into crypto and we are grateful to partner with companies like CoinMENA who share our vision of creating a more connected and secure financial ecosystem.”

“CoinMENA was established to meet the demand for a trustworthy platform where investors can seamlessly transition between fiat and crypto,” said CoinMENA Co-Founders Talal Tabbaa and Dina Sam’an. “The partnership aligns perfectly with our user’s needs, offering an additional method to fund their crypto wallets and reinforcing our commitment to being the most efficient gateway for MENA investors to access the crypto market.”

This announcement follows a previous one where CoinMENA expanded the range of crypto assets available on its platform through its partnership with Bitpanda Technology Solutions, the leading digital assets infrastructure provider as a liquidity provider. The collaboration will enhance trade efficiency on the platform as well.