UAE based MANSA raises $10 million led by Tether

UAE based MANSA raises $10 million led by Tether

UAE based MANSA, a fintech innovator in cross-border payments, has raised $10 million in its recent funding round led by Tether, the creator of USDT stablecoin. MANSA aims to alleviate liquidity challenges for payment companies worldwide.

The company’s stablecoin-based solution offers payment providers in emerging and mature markets a flexible and reliable way to manage liquidity challenges in cross-border payments.

MANSA raised $3 million in a pre-seed funding round led by Tether and co-led by Polymorphic Capital with participation from other prominent investors, including Octerra Capital, Faculty Group, and Trive Digital. The fintech company has secured an additional $7 million in liquidity funding from institutions, including corporate investors, quantitative funds, and alternative investment firms.

As per the press release the funds will support the company’s further market expansion into Latin America and Southeast Asia, alongside the rollout of bespoke liquidity and ancillary solutions tailored to address complex cross-border payments needs.

“Securing $10 million in pre-seed and liquidity funding marks a significant milestone in our mission to transform the way money moves. By bringing payments on-chain and leveraging efficient liquidity solutions, we are addressing critical challenges in cross-border transactions—making payments faster, cheaper, and more reliable worldwide” said Mouloukou Sanoh, CEO and Co-Founder of MANSA. “This funding accelerates our global expansion, enabling us to empower payment companies with seamless, real-time settlement infrastructure and drive the future of payments”

Since its launch in August 2024, MANSA has gained traction by building partnerships with major payment companies across Africa, Asia, and South America. These strategic alliances have contributed to the proliferation of its instant liquidity solutions, resulting in $27 million in transaction volume to date, with nearly $11 million in on-chain transaction volume in January – reflecting a 574% growth from August 2024. MANSA leverages stablecoins, thereby reducing settlement delays and transaction costs, and giving payment providers the resources to scale their operations efficiently.

“MANSA’s vision for addressing liquidity challenges in cross-border payments aligns with our mission to create a more efficient and inclusive financial system. By leveraging USDT for real-time settlements and instant payouts, MANSA is solving critical pain points for payment companies operating in emerging markets. We are proud to collaborate with MANSA and support their efforts to reshape global payment infrastructure.” said Paolo Ardoino, CEO of Tether.

The newly secured funds will be instrumental in its strategic expansion into Latin America and Southeast Asia – regions where liquidity challenges hinder cross-border transactions. It intends to expand its reach and influence by enabling faster, more affordable payment solutions through scaling its liquidity infrastructure and developing strategic partnerships.

“Mansa is here to disrupt a massive traditional market with blockchain and the Web3 paradigm. Polymorphic supports extraordinary founders. The Mansa team is up to this incredible challenge. stated Vitaly Spassky, Managing Partner, Polymorphic Capital

“We invested in MANSA because of their bold, diverse, high-caliber team of visionary founders addressing critical challenges faced by payments companies in Emerging Markets. We firmly believe that decentralized finance and asset tokenization are game-changing frontier technologies. With immense market potential in emerging economies, MANSA is uniquely positioned to drive transformative impact and bridge the credit gap across Africa.” added, Ashim Egunjobi, Managing Partner, Octerra Capital

UAE Blum decentralized trading platform raises $5 million

UAE Blum decentralized trading platform raises $5 million

UAE unregulated Blum, a decentralized trading platform that operates via Telegram has raised $5 million in a pre-seed and seed round. The round was led by Gumi Cryptos Capital and backed by YZi labs, Spartan Capital, No Limit Holdings, OKX Ventures, TOP.co, Bitscale Capital, and Wintermute Ventures

With the funding, it aims to enhance its infrastructure, improve trading functionalities, and expand its operations across multiple blockchain networks offering users greater flexibility to manage their digital assets.

Additionally, it aims to focus on developing its intelligent trading bot which has attracted over 1 million users. The platform sees this as a reflection of a growing interest in seamless and efficient trading solutions.

Since its launch in 2024, Blum aims to grow in the Web3 space. Currently, its Telegram community containing over 32 million members and platform has 2.2 million registered 2.2 unique wallet activity.

The company transitioned from a “Click to Earn” model to a “Trade to Earn” strategy which is sustainable in the long-term. With this new approach, it aims to encourage users to actively participate in trading rather than simply engaging in passive interactions.

Gleb Kostrav, Blum’s CEO, and Vlad Smirkes, CMO, both emphasized that this funding is not limited to capital alone but also includes partnerships to enhance the platform’s capabilities. Additionally, they added that this move is aligned with Blum’s goal of establishing a more efficient and secure trading environment for users.

Abu Dhabi headquartered Soter digital asset insurer closes Series A round

Abu Dhabi headquartered Soter digital asset insurer closes Series A round

Abu Dhabi headquartered, Soter Insure, a provider of specialized digital asset insurance products tailored to the digital asset economy, has closed its Series A funding round, led by Galaxy, with participation from Brevan Howard Digital, Karatage, Token Bay, Pharsalus and others.

Soter headquartered in Abu Dhabi also operates out of Bermuda, with offices in London, New York and Dubai, it was also incubated by UAE based Further Ventures and WebN Group.

The company offers specialized digital asset insurance products for financial institutions, including Asset Loss, Directors & Officers (D&O), and Smart Contract Failure coverage, uniquely denominated in both fiat and native digital assets.

The company as such offers comprehensive insurance solutions tailored to the unique risks of decentralized technologies.

As per the press release, the investment will support Soter Insure’s expansion, bolstering its underwriting and technology teams to scale operations across key markets.

“Our mission at Soter is to set a new standard for risk management in the digital assets space. We are proud to have the support of Galaxy and our other Series A investors as we work to build innovative insurance products that meet the unique needs of the market. With this funding, we’ll continue to expand our offerings and grow our footprint globally, providing clients with trusted and transparent risk management solutions,” said Henson Orser, Founder and CEO of Soter Insure.

Mike Novogratz, Founder and CEO of Galaxy, added, “Galaxy is excited to support Soter Insure in their mission to bring innovative insurance solutions to the digital asset ecosystem. Their tailored approach to risk management meets a crucial industry need, empowering digital asset holders and operators with confidence. We are excited to contribute to their growth and global expansion.”

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.

Limited a premium global banking service for stablecoin holders has raised $3 million

Limited a premium global banking service for stablecoin holders has raised $3 million

Founded by Hussein Ahmed originally from Egypt, Limited, a next-generation fintech startup offering stablecoin-based premium global banking services, has raised a $3 million pre-seed funding round led by Third Prime, with participation from The House Fund and Arche Capital.

As per the press release, the company, aims to transform how businesses and consumers worldwide interact with money by merging the best of crypto technology with the familiarity of traditional banking—minus the institutional vulnerabilities seen in failing banks or centralized exchanges.
Stablecoins have seen meteoric growth in recent years, with on-chain transaction volumes exceeding $12 trillion in 2024, far outpacing major payment networks like Visa. By placing assets in self-custody wallets, Limited users retain complete control of their funds—safeguarding them from the risks of bank collapses or platform failures.

“We believe financial services, while sometimes perceived as boring or soulless, are deeply personal,” said Hussein Ahmed, Limited’s founder and CEO. “Money is a huge part of our lives—both for businesses and individuals—and should be managed thoughtfully and elegantly. We took the best aspects of stablecoins—speed, low cost, self-custody—and merged them with a user experience similar to, and even better than, traditional banks, so our customers can stay protected, enjoy global access, and avoid the pitfalls of failed institutions.”

Third Prime, a New York and Nashville-based venture capital firm whose portfolio includes prominent fintech and crypto players like Circle, Chime, Octane, Kafene and Yellow Card led the $3 million round.

Its Co-founder and General Partner, Wes Barton, underscored the timing, “Limited’s unique approach—secure self-custody stablecoins, global banking accessibility, and a frictionless user experience—aligns perfectly with our thesis that the future of finance is decentralized, trusted, and user-centric. We have seen Hussein’s track record in building great products, and we’re convinced Limited can reshape global financial services.”

Co-leading the round with Third Prime is The House Fund, a UC Berkeley–focused venture firm founded by Jeremy Fiance—who was also an early investor in Hussein’s previous venture, Oxygen—alongside other prominent crypto and FinTech founders. Hussein originally founded Oxygen and grew it to over one million accounts. While Oxygen focused on the U.S. market leveraging traditional banking rails, Limited takes that vision a step further by integrating stablecoins and self-custody into the day-to-day global banking experience.

“We’ve witnessed Hussein’s drive to simplify complex finance solutions throughout his time at UC Berkeley Haas and with Oxygen,” said Jeremy. “Limited brings accessibility, security, and speed to a global audience.” The House Fund has also backed leading AI and FinTech infrastructure innovators, including Databricks, Perplexity, and Flexport.

Arche Capital, backed by major LPs with a focus on the intersection of crypto and fintech, also participated in the raise.

“Limited combines stability, transparency, and practical innovation to solve a critical challenge in global finance,” said Vanessa Grellet. “While many solutions remain fragmented and complicated, Limited stands out by making cross-border transactions faster, more affordable, and truly self-directed,” added William Wolf.

Inspired in part by the American Express model, Limited offers premium Visa and MasterCard options worldwide, their own, spanning White, Silver, and Gold tiers, and also enables co-branded card programs for brands seeking a global footprint. This approach lets partners easily design, launch, and fully manage customized cards that significantly boost customer engagement and loyalty—unlike typical co-branded offerings that are restricted to local or regional deployments.

Limited caters to high-end users. The Limited Gold Card comes with 24/7 global concierge services, exclusive perks like complimentary breakfasts at luxury hotels (including the Ritz-Carlton and Mandarin Oriental), free rental days at Hertz, and top-tier travel experiences that rival the best in the market. Simultaneously, the company supports instant, near-zero-fee cross-border payments in over 140 countries, using more than 300 local payment methods (such as WeChat, Pix, SPEI, GrabPay, and others) across 80 currencies.

Limited operates globally—excluding sanctioned and restricted jurisdictions—and aims to position itself as the go-to solution for businesses, entrepreneurs, and individual customers seeking a stable and efficient alternative to conventional banking.

Klickl and IMKAN Properties to convert crypto into AED for real estate transactions

Klickl and IMKAN Properties to convert crypto into AED for real estate transactions

While the UAE Central Bank has made it clear that crypto cannot be used as a legal tender for the purchase of goods and services inside the country, while AED stablecoins can be, real estate investors and buyers can still utilize cryptocurrencies for real estate purchases with Klickl and IMKAN Properties which has 26 properties across two continents.

Klickl, the Web3 financial platform out of the UAE, will be able to help IMKAN offer international investors with secure, fast and flaxible options of alternative payments in high value sector such as real estate. Klickl will offer cryptocurrency payment processing system.

“Our collaboration with IMKAN aligns with our mission to extend the benefits of Web3 technologies into everyday business transactions,” said Michael Zhao, CEO of Klickl. “From cross-border remittances to real estate investments, digital currencies offer an unmatched level of convenience, transparency, and efficiency. By supporting IMKAN’s customers with both crypto payment acceptance and fiat conversion, we are creating a model that other real estate companies can adopt to attract a new generation of buyers.” He went on to say.

The collaboration will allow IMKAN to offer its clients the option of converting cryptocurrencies, including Bitcoin, Ethereum, and stablecoins like USDT for use to invest in premium real estate . With these options, both local and international buyers gain greater flexibility, avoiding the complexities and delays that often come with cross-border bank conversions.

One of the key drivers behind this initiative is the increasing number of international investors in UAE real estate. The ability to use digital currencies for conversion will streamline transactions for overseas buyers, especially those in emerging markets or regions with less-developed banking infrastructure.

“Crypto is more than a payment method—it’s a financial tool that enables us to operate more efficiently across borders,” Zhao explained. “Our goal with IMKAN is to offer this technology to its customers in a way that enhances liquidity and supports business continuity, providing real estate developers with the financial stability they need to grow.”

Klickl’s platform will be offered seamlessly with IMKAN’s existing sales and payment systems. Buyers will experience a straightforward process where cryptocurrency payments can be made through a secure platform, and all necessary regulatory checks will be conducted automatically.

Klickl will ensure that all transactions are compliant with UAE regulations. From Know Your Customer (KYC) protocols to anti-money laundering (AML) compliance, the platform incorporates best-in-class security features to protect both IMKAN and its clients.

“We are committed to maintaining the highest levels of security and compliance,” Zhao emphasized. “Every transaction will go through rigorous checks to ensure it meets regulatory standards, so our partners and their customers can transact with confidence.”

The long-term vision includes expanding the use of digital finance tools across IMKAN’s full range of projects, from luxury residential developments to large-scale commercial properties.

“The UAE is rapidly emerging as a major crypto hub driven by the region’s welcoming regulatory environment and its proactive approach to supporting the digital asset sector. As one of the nation’s leading real estate developers, IMKAN is proud to play a decisive role in revolutionizing real estate transactions by embracing cryptocurrency for property investments. Together with Klickl, we are helping to ensure that the UAE will remain a leader and not a follower in digital currency proliferation,” said Engineer Suwaidan Al Dhaheri, CEO of IMKAN Properties.

“This collaboration demonstrates how blockchain and digital assets can bring real value to traditional industries,” said Zhao. “It’s not just about following trends; it’s about using these technologies to solve real-world challenges and unlock new opportunities. We see the potential for this model to reshape not only real estate but also other sectors where high value transactions are common.”

Komainu licensed in the UAE, raises $75 million in Bitcoin from Blockstream

Komainu licensed in the UAE, raises $75 million in Bitcoin from Blockstream

UAE regulated digital asset service provider and custodian, Komainu, licensed by VARA Dubai, and backed by Laser Digital, a Nomura company, has raised $75 million in strategic investment from Blockstream Capital Partners (“Blockstream”) in Bitcoin. The raise is subject to relevant regulatory approvals.

As per the press release, the funding enables the company to accelerate its international strategic growth plans whilst adopting and integrating class-leading technologies developed by Blockstream Corporation Inc (“Blockstream Corp”), to maximize efficiencies and enhance client services in collateral management and tokenization.

The funding transaction itself is funded in Bitcoin with appropriate hedging and risk management and Komainu establishing its own Bitcoin Treasury to manage the Bitcoin provided by Blockstream.

Blockstream Corp’s Liquid Network will enable Komainu to dramatically cut the time for its off-exchange margining & settlement solution, Komainu Connect, from hours to minutes, becoming class-leading in the process. Blockstream Corp’s AMP technology will enable Komainu to automate its regulated asset support for tokenization and develop trustless trading solutions. The company will also integrate other technologies and services developed by Blockstream Corp, including its enterprise HSM wallet, in order to provide institutional clients with a broader range of bank-grade digital asset services.

To solidify the strategic partnership between the two entities, Adam Back, PeterPaul Pardi and Nicolas Brand will join Komainu’s board of directors.

Adam Back, CEO Blockstream Corp, commented “We are delighted that Komainu is adopting Blockstream’s various technology streams to enhance its institutional service offering. This is testament to the fundamental veracity of Bitcoin-related technologies and applications and marks the first time that these have entered the institutional arena. I am confident this will be the first of many such use cases as the institutional community wakes up to the power of the Lightning and Liquid Networks.”

Paul Frost-Smith, Co-CEO at Komainu, and who also joins Komainu’s board of directors, said, “At Komainu, our mission is to empower the digital asset ecosystem by offering secure, compliant, and innovative digital asset services. This partnership with Blockstream will transform the services we are able to offer and enhance our customer experience on many levels. Having a closely-aligned technology partner like Blockstream, one of the original visionaries in the digital assets ecosystem, is testament to our determination to become the go-to provider of digital asset services for Bitcoin and the institutional market, as well as increasing institutional adoption.”

PeterPaul Pardi, Director, Blockstream Corp, commented “This partnership with Komainu, backed by Nomura’s Laser Digital, is a landmark moment for the adoption of Bitcoin-related technology by a bank-built, regulated financial services business. It showcases the institutional use-cases for Bitcoin as demand reaches new highs. We are delighted that Komainu has chosen to implement Blockstream’s technology and we anticipate even wider uses for it in the institutional investor community over coming months”

Robert Johnson, Co-CEO & CTO at Komainu, said, “Integrating Blockstream’s technologies will significantly enhance and diversify our underlying core technology stacks. At Komainu we believe in offering our clients a wide choice of technology options and this partnership with Blockstream will maximize efficiencies and lower latencies across the various services that we offer. “

UAE Further Ventures leads $16 million investment in digital asset wallet

UAE Further Ventures leads $16 million investment in digital asset wallet

Further Ventures, a private equity fund in Abu Dhabi UAE, has led a $16 million investment Series A round in French digital asset wallet and custodian developer, DFNS, DFNS, which was launched in 2020, and has operations both in Paris and New York aims to compete against FireBlocks and Ledger.

Using the funds raised both in 2022, $12 million and that raises now $16 million, the startup plans to accelerate its development to meet requirements of financial institutions.

This deal was led by Further Ventures, which is a private equity fund based in Abu Dhabi. Other historical investors, such as White Star Capital, Hashed, Semantic, Techstars and Bpifrance also participated in the round.

“This deal validates both our product and our focus on fintechs and financial players,” explains Clarisse Hagège, co-founder and CEO of DFNS, which claims more than 130 customers including Fidelity, Zodia Custody (Standard Chartered’s crypto subsidiary) and Stripe, which has just acquired Bridge.

DFNS developed a wallet creation solution based on MPC (Multi-Party Computation) technology. This MPC technology breaks down the access keys to the digital wallet into fragments; these are then distributed across different secure universes. Using an API system, the startup allows developers to take bricks and create their own wallet system.

“We allow our customers to deploy their own instances on public clouds like AWS, private clouds, and connect their Thales or IBM HSMs to our blockchain transaction management system,” explains Clarisse Hagège

Als in terms of pricing , while not all offers are the same, the startup offers a billing system based on usage and not on volumes under management.

UAE Future Ventures has already invested in several digital asset service providers including Soter Insure, a provider of insurance products tailored to the digital asset economy licensed by VARA in the UAE, as well as QCP, a global digital asset trading firm, Fuze, a digital assets infrastructure provider, TwinStake, Tungsten, Kemet trading, and others.

The Hashgraph Association supports KSA’s Deep tech report

The Hashgraph Association supports KSA’s Deep tech report

The Hashgraph Association, a Swiss non-profit, driving the global adoption of Hedera-powered solutions by funding innovation, training, and venture programs, was one of the first blockchain technology groups to participate in Saudi Arabia’s deep tech strategy, a strategy which seems to be paying off based on a recent report by the Saudi Ministry of Communications and Information technology, King Abdullah University of Science and Technology and Hello Tomorrow Consultancy.

The Deep Tech report published on January 7th 2025, notes that in 2025, nearly 50% of homegrown deep tech startups in KSA are specializing in AI (Artificial Intelligence) and the Internet of Things (IoT). While the number of scale-ups has reached 43 companies contributing to driving innovation.

The Deep Technology Report presents a roadmap for making Saudi Arabia a global deep tech hub and highlights the different initiatives that support the Kingdom in realizing the objectives of Vision 2030.

As per the report, the deep tech startup ecosystem is still in its infancy and is relatively modest in size when compared to the overall startup landscape with room for expansion. Currently there are 43 deep tech startups in the overall 1,000 startups in the country.

Deep tech startups raised over US$100 million between 2020 and 2022. The Kingdom has also seen a rise in the number of incubators and accelerators that offer deep tech verticals.

$250 million investment in Deep Tech studio with Saudi Ministry of Investment

One of those deep tech incubators and accelerators is The Hashgraph Association’s which was launched in February 2024. The Switzerland based Hashgraph Association signed a strategic partnership with the Ministry of Investment of Saudi Arabia (MISA) to launch a Deep Tech Venture Studio in Riyadh, worth $250 million over the next five years.

The studio would focus on the convergence of Web3, AI and technologies such as distributed ledger technology (DLT), virtual reality, robotics, and quantum computing, helping to launch 500 new companies over the 2024-2028 period.

The Hashgraph Association and its DeepTech Venture Studio will enable local Saudi companies, as well as international portfolio companies seeking to establish operations in the Kingdom, to develop innovative solutions, leveraging deep tech such as AI, DLT, Robotics, IoT, VR, and Quantum Computing, all of which are key as per the Deep Tech report from MCIT.

KSA seeks to attract $7.9 billion in foreign investment and $12.5 billion in local for AI

KSA’s goal is to attract $7.9 billion in cumulative foreign direct investment (FDI) and $12.15 billion from local markets in data and AI by 2030. The Kingdom of Saudi Arabia also saw the addition of 104 active investors in 2024 with a 75% increase in the number of researchers since 2015. The report highlights that Saudi Arabia is expanding its research infrastructure to accommodate 140,000 researchers by 2030, a sevenfold increase from the current 20,000 researchers in the country.

Mohammed Robayan, Deputy Minister of Technology at MCIT, stressed that this report represents an important step in strengthening the Kingdom’s position as a global hub for advanced technologies, and that the Kingdom seeks by focusing on innovation and investing in competencies and infrastructure, to build an integrated system that supports digital transformation and sustainable development.

Robayan called on those interested in the public and private sectors, especially academia and investors, to avail of this information to draw a roadmap that promotes innovation and contributes to realizing the goals of Saudi Vision 2030.

Data Centers are Key to Deep Tech Strategy

In 2021 Saudi Arabia’s Ministry of Communications and Information Technology announced new plans to ramp up national data center investment to $18 billion, with a goal to surpass capacity of 1,300-megawatts by 2030. Since the launch, numerous investment groups, infrastructure developers and global hyperscalers have announced plans for new data center and cloud regions in the Kingdom committing billions of dollars in investment.

These datacenters will need energy and not any energy, sustainable efficient energy sources. This is why HODLER INVESTMENTS, a UAE based investment company, headquartered in 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 to the Digital Energy Infrastructure (DEI) Fund, a local decarbonization innovation fund.

UAE Varys Capital investment in Movement Labs pays off with $6 billion valuation

UAE Varys Capital investment in Movement Labs pays off with $6 billion valuation

After UAE Varys Capital led a Pre- seed raise for Blockchain L2 platform developer Movement Labs in 2023 where the startup raised $3.4 million. This week Movement Labs announced it was raising $100 million in a series B funding round which led to a valuation of $6 billion.

The recent funding round is being led by CoinFund and Brevan Howard’s digital asset arm Nova Fund.

Movement Labs will use the new capital for product enhancements, and expansion into the Asia Pacific market. Movement is redefining the blockchain ecosystem as an EVM-compatible Layer 2 solution built on the Ethereum network. It utilizes the innovative Move programming language, designed to enhance scalability, security, and flexibility, ensuring high-performance decentralized applications.

Prior to the Series B funding round, Movement Labs had also raised $38 million in a Series A round led by Polychain.

In a LinkedIn post Varys Capital noted that UAE MBS Global Investments were early supporters of their fund which had invested in Movement Labs. Varys Capital stated, “We’re honored to not only have you on our cap table, but seeing the blossoming partnership between our two entities taking shape and broadening our collective reach.”

MBS Global Investments is the investment arm of the Private Office of Sheikh Nayef Bin Eid Al Thani, with headquarters in Dubai UAE.

MBS Global Investments prior to that had noted on LinkedIn, “MBS Global Investments proudly congratulates our partner, Varys Capital on their successful pre-seed investment in Movement Labs (MOVE), a pioneering project that has just achieved a major milestone. The recent Token Generation Event (TGE) for MOVE was a resounding success, with the token reaching an extraordinary fully diluted valuation surpassing $6 billion. This remarkable achievement has already captured the attention of the global crypto community, with MOVE being listed on all major exchanges, including Binance.”

MBS also noted that they would continue to support this venture. They stated, “We are excited to continue supporting this transformative venture and looks forward to the significant impact MOVE will have on the future of decentralized finance and blockchain technology.”

Varys Capital and FundRock create Master Fund in ADGM

In April 2024, Varys Capital (“Varys”) partnered with FundRock Investment Management Services (ME) Ltd (“FundRock”), a fund management company, licensed by the FSRA, to manage a feeder fund, that would invest its assets into a Master Fund with a mandate centered around blockchain, Web3 and infrastructure. The entity is named the Varys Capital Ventures (CEIC) Limited in the Abu Dhabi Global Market (ADGM).

Varys Capital has also invested in another layer 2 blockchain called MintLayer n that utilizes Dynamic Slot Allocation (DSA) consensus merging Proof-Of-Stake and Bitcoin technologies to make decentralized financial markets attack-proof. MintLayer has planned to launch it mainnet on January 29th 2024 and work to tokenize real-estate assets starting from Dubai UAE.

The Varys Capital portfolio is currently heavily focused on decentralized financing (DeFi) related platforms and services.