Blockchain Global Trade Project sets up headquarters in Oman

Blockchain Global Trade Project sets up headquarters in Oman

Advanced Horizon Markets s.r.o. developing its Blockchain and AI enabled GlobalTrade project, has set up its headquarters in Oman after an investment firm acquired 80% of its shares during its seed phase, valuing the project at 1.1 million Euros.

As per the press release, the investment marks a pivotal moment for GlobalTrade, propelling it into a new era of growth and expansion. As part of this development, the headquarters of the GlobalTrade project will be relocated to Muscat, Oman.

GlobalTrade aims to redefine international trade operations through digital innovation, transparency, compliance, and sustainability. With this investment, efforts to create a comprehensive digital marketplace that serves the global business community will be accelerated. The platform is designed to offer robust business verification, smart contracts, integrated quality control, comprehensive shipping solutions, and real-time tracking, all powered by advanced technologies such as blockchain and AI.

Advanced Horizon Markets will retain 15% of the shares, with a three-year cliff, while an additional 5% will be distributed among dedicated technical team members. Advanced Horizon Markets specializes in creating technology-driven solutions that push the boundaries of what’s possible. The company is committed to enhancing global trade through cutting-edge digital platforms and services that promote innovation, sustainability, transparency, compliance, and simplified global trade.

Partnerships with international organizations, financial institutions, insurance companies, tech startups, and logistics providers underscore the commitment to making GlobalTrade a one-stop solution for all global trade needs. These collaborations enhance the platform’s offerings, making it a comprehensive and seamless experience for businesses worldwide.

Amin Mirfakhraie, Co-Founder of GlobalTrade, expressed his excitement about this new chapter: “We are thrilled about this investment and the opportunities it brings for GlobalTrade. Relocating to Muscat and collaborating with our Omani partners will enable us to leverage their expertise and resources, accelerating our platform’s development and introducing innovative solutions to the global trade market.”

UAE based Al Maryah bank launches blockchain digital wallet

UAE based Al Maryah bank launches blockchain digital wallet

Al Maryah Community Bank, a digital bank in the UAE has announced the launch of what it calls the first UAE Blockchain enabled national digital wallet, called Mbank Wallet.

As per the X post, “Al Maryah bank Introducing Mbank Wallet: UAE’s first national digital wallet using decentralized blockchain technology, enhanced with QR technology, and linked to Jaywan.”

Jaywan is the UAE’s domestic card scheme. Users open an account with their Emirates ID and add a the Blockchain enabled digital wallet with an IBAN.

The post adds that the Mbank wallet will allow for better financial inclusion within the UAE.

The new digital wallet will allow seamless financial transactions; send, receive, request, and pay money effortlessly, as well as send funds globally.

The Mbank Wallet is already accepted in TAMM, Emarat, Select Market, and Air Arabia.

In May 2024 Al Maryah Community Bank (mBank) has entered into a Memorandum of Understanding with Dubai Multi Commodities Centre (DMCC). This collaboration aims to streamline the account opening process for businesses within DMCC through an Mbank integrated digital platform.

Utilizing Mbank’s Corporate Platform, companies seeking to establish themselves in DMCC can now digitally complete their business bank account opening in six steps, within 48 hours.

In November 2023 Al Maryah Community Bank chose to leverage the services of Ripple ODL partner LuLu to facilitate cross-border money transfers.

UAE M2 now offers seamless AED to BTC and ETH conversions

UAE M2 now offers seamless AED to BTC and ETH conversions

M2 registered in ADGM, a virtual asset custodian and a Multilateral Trading Facility regulated by the Financial Services Regulatory Authority (FSRA) ADGM, has launched what it calls a simplified pathway for UAE residents to buy and sell Bitcoin (BTC) and Ethereum (ETH) through a direct integration with their bank account.

As per the press release, the integration serves as a significant milestone both for the wider accessibility of virtual assets in the region, as well as M2 working to offer a best-in-class product offering within a rapidly evolving landscape.

The new solution will allow UAE residents with banking services to seamlessly convert United Arab Emirates’ Dirhams (AED) into BTC and ETH – and vice versa – via trading pairs listed on M2’s spot market.

The press release adds, that this new pathway, which leverages the strength and security of robust banking infrastructure, is the most recent milestone in M2’s continued work to build trust and industry leading compliance in providing both the safe custody of virtual assets, and the ability to trade Bitcoin (BTC) and Ethereum (ETH) with UAE Dirham (AED).


CEO of M2 Stefan Kimmel said, “Through this compliant integration, UAE residents can enjoy the familiarity of their existing and trusted banking services, coupled with the cutting-edge security and functionality of our platform. This is all executed within one of the world’s strictest regulatory frameworks where consumer protection, technology, governance and custody are paramount. It is a significant step for M2 in ADGM as we work to expand our offering for the MENA region and reduce the friction in how clients can navigate between traditional finance and virtual assets.”

Sources close to the matter explained to Lara on the Block, that currently M2 is working with one major bank ( which prefers not to be named) and will expand this to other banks in the UAE in the future.

M2 registered in ADGM, which launched back in November 2023, announced that it was able to onboard retail and institutional clients and would be offering AED Fiat on and off ramp through its participation with a local bank. Eight months later, M2 is finally able to do this.

In a previous interview with Stefan Kimmel with Lara on the Block, Kimmel noted, that launching a fully regulated, transparent clean startup from Abu Dhabi ADGM ( Abu Dhabi Global Market) was because the FSRA ( Financial Services and Regulatory Authority) in ADGM is one of the oldest most respected and esteemed regulatory authorities when it comes to virtual assets and crypto. FSRA as Kimmel explained has been around for five years and has a comprehensive solid framework. He stated, “ After all that has happened in crypto over the past few years, everyone is looking for a safe protected transparent exchange, and this is what we are offering from ADGM.”

He also noted, M2 has is its strong liquidity which is essential for the success of any crypto exchange. M2 has an equity investment of $300 million with strategic partners being UAE based Phoenix Group and several Abu Dhabi family offices.

Credibility of UAE crypto exchanges enhanced with new stablecoin regulation

Credibility of UAE crypto exchanges enhanced with new stablecoin regulation

In the past year the UAE has attracted not only international crypto exchanges but it has also attracted home grown GCC crypto players. One of these international crypto exchanges, which sits as the world’s 12th biggest exchange has also set its eyes on MENA and the UAE viewing UAE as a unique jurisdiction.

BITGET Aka Leung, country manager asserts that UAE’s approach to crypto regulation differs from other jurisdictions, emphasizing the uniqueness of each.

Crypto regulations UAE, Hong Kong, Singapore

Speaking to Lara on the Block, Leung explains that UAE has progressively been embracing cryptocurrencies and blockchain technology positioning itself as a hub because of its favourable regulatory environment which allows citizens and residents to own, trade and invest in cryptocurrencies.

Leung affirms that Hong Kong and Singapore have taken a different approach than that of UAE. He states, “Hong Kong has been developing guidelines for cryptocurrency exchanges under its Securities and Futures Commission, striving to balance innovation and investor safeguarding. Meanwhile, Singapore has established a clear regulatory framework through the Payment Services Act, promoting a conducive environment for fintech and blockchain companies.”

He believes that each region has its unique regulatory approach that balances innovation and investor protection and market stability. He adds, “It is essential for industry stakeholders to navigate these diverse regulatory environments to ensure compliance, foster innovation, and build trust within the global crypto community.”

Crypto Growth in GCC

When it comes to the growth of crypto in the GCC (Gulf Cooperation Council) region Leung has seen an increasing interest in not only cryptocurrencies but blockchain technology as governments and businesses explore these applications and their benefits.

Yet he explains that governments in the GCC market should provide clear and comprehensive regulatory frameworks. He explains, “To further stimulate the growth of crypto in the GCC market, regulatory frameworks need to tailor to the unique characteristics of cryptocurrencies that can enhance investor confidence and industry development.”

This should be coupled with “Education and Awareness” about cryptocurrencies and blockchain technology among the general public, businesses, and policymakers.

UAE Stablecoin regulation for crypto exchanges

UAE Stablecoin Payment Token Services Regulation came out laying down the rules and conditions by the Central Bank of UAE for licenses pertaining to payment tokens, not allowing algorithmic tokens to be included and only allowing foreign stablecoins to be used to purchase virtual assets, while the AED dirham stablecoin became the only stablecoin to be allowed for payments in the country.

While this is an advancement when it comes to utilizing the AED stablecoin as a legal tender, the question remains how can centralized crypto exchanges do with this new regulation?

Leung believes that centralized crypto exchanges can enhance the credibility of cryptocurrencies and the crypto exchanges themselves by adhering to the UAE Central Bank stablecoin regulations.

He notes, “Operating with regulated stablecoins demonstrates a commitment to compliance and regulatory standards, fostering trust among users and regulatory authorities. It will Increase the “Market Access” The acceptance of stablecoins as legal tender for payments within the UAE expands market access for crypto exchanges.”

According to Leung the UAE stablecoin regulation opens up new avenues for users to engage with cryptocurrencies, promoting adoption and usage across various sectors. He says, “This is a bridge from traditional finance to digital finance.”

Bitget expansion in MENA

Bitget crypto exchange has embraced the MENA region not only by supporting the Arabic language on its website and mobile application in 2023, but also by partnering with crypto payment solution provider allowing users to buy and sell crypto using various local currencies including, AED, EGP, SAR and others.

Currently Bitget is engaged in establishing trust with users and regulatory bodies as it paves the way for the long-term sustainability and growth.

He adds,” We are still exploring license applications to operate in the MENA markets.”

Crypto Exchanges and UAE’s digital economy

During a recent meeting of the G20 Labour and Employment Ministers’ meeting in Brazil, Shayma Al Awadhi, assistant undersecretary for Communication and International Relations at the UAE Ministry of Human Resources and Emiratization (MoHRE), said the UAE is expected to invest $20 billion in digital technologies such as information technology (IT), telecommunications, artificial intelligence (AI), the Internet of Things (IoT), blockchain, and robotics over the next three years.

The UAE also noted during the G20 meeting that it aims to double the digital economy’s contribution to its GDP from the current level of 9.7 percent to 19.4 percent over the next 10 years.

The acceleration of digital economy’s contribution to UAE’s GDP is intertwined with the growth of digital assets, tokenization, crypto, and stablecoins. 

The role of regulated crypto exchanges will be strong.

Central Bank of UAE and Seychelles cross border settlement’s MOU will extend to CBDCs

Central Bank of UAE and Seychelles cross border settlement’s MOU will extend to CBDCs

The Central Bank of UAE, and the Central Bank of Seychelles have signed two MOUs (Memorandum of Understanding), to utilize local currencies in settling cross border financial and commercial transactions, with the aim of extending this to CBDCs (Central Bank Digital Currencies).

As per the press release, His Excellency Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE), and Ms. Caroline Abel, Governor of the Central Bank of Seychelles (CBS), signed today in Abu Dhabi two Memorandums of Understanding (MoU) regarding enhancing the use of local currencies in settling cross-border financial and commercial transactions, and interlinking payment and messaging systems between the two countries.

The first MoU aims to establish a framework to promote the use of local currencies in settling bilateral commercial transactions, developing the exchange market and to facilitate bilateral trade and direct investment, remittance settlement, and financial market development.

Under the second MoU, both parties will consolidate cooperation and mutual benefit from the services of instant payment platforms, electronic switches and messaging systems, by directly linking them in accordance with the regulatory requirements in the two countries.

This includes interlinking the Instant Payments Platform (IPP), which the CBUAE is developing within the Financial Infrastructure Transformation Program, and the similar platform in the Republic of Seychelles, and between systems and electronic switches to facilitate mutual acceptance of local cards and processing their transactions, in addition to exploring the possibility of linking messaging systems and cooperation in the field of FinTech and Central Bank Digital Currencies.

His Excellency Khaled Mohamed Balama, Governor of the CBUAE, commented, “The signing of the Memorandums of Understanding reflects the Central Bank’s keenness to expand its relations with regional and international counterparts, to enhance UAE’s economic and commercial partnerships globally. The use of the two countries’ currencies for cross-border financial and commercial transactions reflects the growing trade, investment, and financial cooperation and contributes to reducing costs and saving time in settling transactions. This helps in developing the foreign exchange market in the UAE dirham and the Seychellois rupee, leading to enhancing trade exchanges, investments, and remittance between the two countries”.

Ms. Caroline Abel, Governor of the CBS, added “For small open island economies like Seychelles, the importance of an effective and efficient financial system to facilitate trade cannot be overemphasised. The agreement to develop and gradually implement the necessary framework to promote the use of our respective national currencies, the UAE Dirhams and the Seychelles Rupees, in cross-border transactions can further facilitate trade relations between stakeholders across the two jurisdictions. With the Central Bank of Seychelles spearheading efforts to modernise and develop the Seychelles national payment system, in line with the Government’s digital economy agenda, the opportunity to collaborate on interlinking our payment and messaging systems will facilitate the processing and settlement of cross-border financial transactions between the two countries. We look forward to learning from the experiences and expertise of the Central Bank of the UAE as we endeavour to keep pace with developments within the global payment landscape and further leverage technology and innovation for more seamless processing and settlement of payments, including cross-border payments.” 

This comes a day after, the CBUAE and the Central Bank of Indonesia signed an MOU to establish a framework to enhance bilateral cooperation in the area of payment systems.

 His Excellency Khaled Mohamed Balama, Governor of the CBUAE, said: “This MoU embodies the growing economic partnership between the UAE and Indonesia. It is an important pillar which seeks to support bilateral relations in the fields of trade and investment and enhance the UAE’s role in global trade. Today, we are presented with an important opportunity to bolster our cooperation with Bank Indonesia across all financial and banking fields, including financial technology, innovation, and digital payments. This reinforces our wider efforts to support the UAE’s objective of becoming a leading global hub for financial technology and digital and cross-border payment solutions.”

Blockchain enabled Maalexi agri business receives debt investment of $1 million

Blockchain enabled Maalexi agri business receives debt investment of $1 million

Blockchain enabled UAE based Maalexi has received an investment of $1 million from Stride Ventures, a premier global venture debt firm from India. The investment will accelerate Maalexi’s growth plans and boost its operational capabilities to foster more efficient food and agri-produce procurement, and distribution across the region.

As a dynamic risk management platform, Maalexi helps small food and agri-businesses directly access cross-border trade. Founded in 2021 by Dr. Azam Pasha and Rohit Majhi, Maalexi is set to revolutionize the $3 trillion global cross-border food and agri-produce trading market. The company provides critical risk management tools including digital contracts, AI-enabled inspections, and blockchain-authenticated documentation, enabling SME agri-buyers to procure food supplies faster, cheaper, and safer from globally located SME agri-producers and exporters.

Apoorva Sharma, Managing Partner at Stride Ventures, commented on the collaboration, stating, “Maalexi’s deployment of cutting-edge technologies places it at the forefront of enhancing regional food security and connecting rural markets with the global economy. This investment embodies Stride Ventures’ commitment to global expansion by supporting companies that use technology to improve traditional industries. Our strategy is not only forward-thinking but also designed to foster innovation and cultivate synergies across borders.”

Dr. Azam Pasha, co-founder and CEO of Maalexi, voiced team Maalexi’s excitement about the partnership, mentioning, “This debt capital raise from Stride Ventures will significantly enhance our ability to acquire new users and scale our operations, further solidifying our position as a leading digital risk management platform for small and medium enterprises (‘SME’) engaged in cross-border trade. We will use these funds to deploy cutting-edge technology solutions that streamline the movement of goods through our local and international warehouses and carriers, effectively mitigating key risks in international trade. Furthermore, this capital infusion will serve as a strategic lever, helping us acquire additional debt capital to expand our operations, and bolster food security across the UAE and the broader GCC region.”

This strategic investment not only strengthens Stride Ventures’ commitment to Hub71, Mubadala’s tech ecosystem, but also underscores Stride Ventures’ role as a global investor with strategic focus on supporting high-growth companies in emerging markets.

Blockchain enabled fan network Fanera, relocates to Saudi after agreement with Saudi Ministry of Investment

Blockchain enabled fan network Fanera, relocates to Saudi after agreement with Saudi Ministry of Investment

 Fanera, a Web3 AI Blockchain enabled social network dedicated for sports fans, has announced their commercial agreement with Saudi Arabia’s Ministry of Investment as they relocate their headquarters to Riyadh KSA.

Fanera which utilized advanced technologies such as AI, Blockchain, machine learning allows fans to connect with each other and engage with their favorite teams while earning rewards for their loyalty. In Saudi Arabia, Fanera is set to transform the football experience.

As per the press release, “Fanera by leveraging blockchain and NFTs, will provide fans with unique opportunities to trade their content, ensuring authenticity and creating new revenue streams. This aligns perfectly with Saudi Arabia’s vision for technological leadership and innovation.”

Fanera also offers Clubs, brands, and sponsors a new way to connect with fans and promote their brands.

Fanera was featured as one of the top 20 sports tech startups in 2020 globally and has over 450 thousand users in the MENA region with 1 million daily views. The Kingdom’s commitment to hosting the 2034 World Cup underscores its dedication to becoming a global hub for sports and entertainment. By expanding in KSA, Fanera aims to align with these ambitions and bring an unparalleled fan engagement platform to the heart of the Middle East.

The gamified experience on Fanera rewards users for their interactions, enhancing competition and fostering a vibrant community of football enthusiasts.

“Expanding into Saudi Arabia is a strategic move that aligns with our mission to revolutionize football fan engagement globally. By integrating Web 3.0 technologies, we are not just enhancing the fan experience but also setting new standards in the industry. We are excited to contribute to the Kingdom’s vision of becoming a global sports hub,” said Mo Kilany, CEO of Fanera.

Tokinvest receives provisional crypto broker license from Dubai regulator

Tokinvest receives provisional crypto broker license from Dubai regulator

Tokinvest marketplace for real-world asset tokenization, has been granted a provisional broker-dealer license by Dubai’s Virtual Assets Regulatory Authority (VARA).

As per the press release this license underscores Tokinvest’s commitment to compliance and innovation in the real-world asset tokenization industry.

The company will continue to build its scalable and regulated platform that simplifies buying, selling, and managing real-world asset investments. It offers comprehensive services that cover every aspect of the digital token lifecycle, from ideation to trading to asset servicing.

Scott Thiel, CEO of Tokinvest, says, “Obtaining regulated status in the region is crucial for us. It shows our dedication to complying with international standards and establishing robust, transparent processes prioritizing investor protection. Receiving the provisional broker-dealer license from VARA is a significant validation of our mission to create the leading regulated marketplace that connects real-world asset issuers with investors on a global scale. This provisional license sets us on the path to serving our clients with the highest standards of regulatory assurance.”

Tokinvest advisory board includes Ralf Glabischnig Founder of Inacta Ventures, and founder of UAE based Crypto Oasis and Swiss based Crypto Valley. 

He says: “Tokinvest is leading the charge in real-world asset tokenization with a first focus on Middle East. I’m excited to offer my expertise to support their ambitious goals and connect it with our other securitization and tokenization portfolio companies in Europe and beyond.”

Cardano accelerator invests in Saudi Arabia’s Nuqtah NFT platform

Cardano accelerator invests in Saudi Arabia’s Nuqtah NFT platform

Adaverse a Cardano ecosystem accelerator and venture capital fund focusing on Web3 solutions, has strategically invested in Nuqtah, Saudi Arabia’s blockchain infrastructure builder and NFT management solution.

As per the blog post, this investment marks a significant milestone in both companies’ journeys, aligning with Saudi Arabia’s Vision 2030 to foster a digital economy and an innovation-driven future.

In March 2024, Adaverse, signed an MOU with Saudi based ASFA Ventures to drive Web3 innovation in KSA and beyond. ASFA ventures is a ventures capital builder that focuses on technology ventures, Web3 technologies. It has already invested in Saudi projects such as AqarToken, and Tokenha. In the meantime, Adaverse has funded 40+ startups across Africa, Asia and beyond.

Adaverse has welcomed Nuqtah to join distinctive initiatives among its diverse portfolio of over 54 startups.

Launched in 2021, Nuqtah has swiftly become a leader in Saudi Arabia’s blockchain and digital asset sector, earning the distinction as the Kingdom’s first licensed platform for creating, trading, and managing NFTs. Nuqtah aims to transform the digital landscape by equipping creators, businesses, and government entities with blockchain technology, thus accelerating Web3 adoption throughout the Middle East.

“We are thrilled about Adaverse’s strategic investment in Nuqtah, a testament to our shared vision of pioneering the Web3 revolution in the MENA region. This collaboration not only underscores Nuqtah’s commitment to spearheading the adoption of blockchain technology but also serves as a catalyst, attracting local and international attention to our burgeoning digital ecosystem. Each of our investors and partners, including Adaverse, stands as a resounding endorsement of the vast potential that Web3 and blockchain hold for the MENA region. Nuqtah takes immense pride in the confidence Adaverse has placed in us, as we continue to build and innovate in the region.” — Nuqtah founder and CEO Salwa Radwi

Nuqtah: From NFT to Consumer Workflow Solutions

Nuqtah has rapidly expanded its suite of offerings from NFT marketplace to comprehensive consumer workflow enhancements. Nuqtah’s platform offers a Workflow Solutions Platform designed to streamline both creative processes and engagement strategies from the planning stage to execution. Its standout feature, the Digital Collectibles Solution, facilitates the creation of NFTs to boost customer loyalty, complemented by a Consumer Engagement and Loyalty Platform that incentivizes interactions with digital collectibles.

Additionally, Nuqtah offers a Customizable Offering Tool, allowing businesses to personalize products and services for their target audience, and Brand Loyalty Enhancement Solutions that use blockchain to increase customer satisfaction. Serving a broad spectrum of industries, including the creative and retail sectors, Nuqtah’s solutions are tailored for businesses eager to incorporate blockchain into their operations, improve customer engagement, or innovate their digital assets and loyalty programs.

How Nuqtah NFT-ed Its Way from Idea to Industry Leader

Nuqtah emerged as a dynamic marketplace with the mission to energize the creator economy, quickly evolving to embrace the potential for greater impact through enabling businesses with blockchain technology. Founded by Salwa Radwi in Jeddah, Saudi Arabia, Nuqtah has rapidly transformed into a leader in blockchain technology for businesses enabling SMEs to provide innovative solutions to boost consumer engagement. Driven by Radwi’s passion for NFTs and the fusion of art and technology, Nuqtah filled a crucial gap in the local market, becoming the MENA region’s first blockchain provider. It’s more than a marketplace; it’s a community at the intersection of art, heritage, and innovation, designed to empower Saudi youth and creatives. Since 2021, Nuqtah has led the Saudi NFT scene, achieving milestones that underscore its role as a pioneer and aligning with the transformative vision of Saudi Arabia’s Vision 2030.

NFTS FOR CONTENT CREATION

Beyond the art and collectibles market, NFTs are revolutionizing content creation, entertainment, real estate, and even identity verification, proving their value in ensuring authenticity and ownership in the digital realm. The global NFT market, continuing its exponential growth trajectory, is expected to expand further as these tokens find new applications in digital rights management, gaming, and decentralized finance (DeFi), among others.

Vincent Li, founding partner at Adaverse, remarked, “Our investment in Nuqtah, as we broaden our presence in the MENA region, marks a pivotal moment for innovation in digital solutions. Nuqtah’s launch couldn’t be more timely, setting the stage for future advancements in the blockchain and NFT user landscape. Their vision mirrors our commitment to pioneering the digital economy, highlighting the transformative power of blockchain to open new opportunities. Together, we’re crafting the path forward in the digital world.”

In May 2024 Adaverse strategically invested in Sorbet, a Saudi Arabian startup geared towards helping freelancers to manage and transact with clients. Sorbet uses Circle Payment services, better known as stablecoin USDC to help clients and freelancers carry out instant payments.

Blockchain and AI investment firm sets up in UAE and London

Blockchain and AI investment firm sets up in UAE and London

Investment firm, Terra Invest, has announced the launching of its operations in London and the UAE focusing on investments in Artificial Intelligence and, blockchain-powered financial technology, clean energy, and health & life sciences.

As per the press release, Terra Invest takes a novel approach to its investment method, combining deep policy and regulatory expertise with financial acumen to solve the world’s most pressing issues such as the growing demand for clean energy, AI based solutions for financial services and healthcare distribution. Through addressing a key point of failure that is currently stifling innovation across sectors such artificial intelligence (AI), blockchain-powered financial technology and health & life sciences, Terra Invest aims to foster rapid growth and value while creating positive global impact.

Terra Invest is backed by several Asia based family offices and funds including Mount Row Partners, a distinguished group of financial and public policy veterans from a variety of sectors and several large family offices in the Asia Pacific (APAC) market.

Terra Invest is centred around a deal-based model of investment and has closed transactions of USD 230 million as of today, with an ambition to scale to USD 2.5 billion by 2025.

Founding Partner at Terra Invest, Ambassador Kirk Wagar, commented on the investment firm’s announcement, stating, “In today’s turbulent global political climate, having a geopolitical overview is crucial for global investing. Understanding the tectonic shifts in both macro and micro political changes is the foundation today to anticipate and navigate risks, understand market dynamics influenced by political events, and make informed decisions that are fundamental to protect and potentially enhance their portfolios. Today more than ever, investors must be aware of geopolitical trends in identifying opportunities and avoiding pitfalls, ensuring more resilient and strategic investment choices in an unpredictable world.”

“Our unique approach at Terra, ensures that our investments are not only financially sound and create value for our shareholders but also have a positive impact on the world at large.” added Ankiti Bose, who also serves as a Founding Partner alongside Wagar at Terra Invest. “Our team has brought together not just capital and investing experience but advisors of companies such as Tesla, TikTok, and Binance, former politicians and litigators. This experience, combined with our founding team’s background in banking, entrepreneurship, diplomacy and public policy, makes us firm believers in Terra Invest’s mission to drive financial value and positive global impact,” Bose explained.