Brinc launches its 2023 startup Web3 cohort with two startups from GCC

Brinc launches its 2023 startup Web3 cohort with two startups from GCC

Brinc, a leading global venture accelerator, with operations in the UAE has selected 25 promising global startups, launched by a total of 66 founders, for its Summer 2023 cohort under its host of Web3 accelerator programs. Two startups from the GCC region have been selected. The first is UAE AI NFT BentleyRecords.io , an AI-powered music development program dedicated to helping artists grow their career online, offering 35+ tools for music production and distribution was chosen among startups and the second one is Bahrain based Eye Labs, a pioneering platform dedicated to guiding brands into the Web3 realm, simplifying blockchain infrastructure while emphasizing storytelling and user journeying to make the transition more accessible to a wider audience.

Brinc’s Summer 2023 cohort represents a diverse range of innovative ventures at the forefront of cutting-edge technologies in blockchain, decentralized applications, and peer-to-peer networks. This round is Brinc’s third cohort in Web3-startup acceleration, confirming its commitment to the incredible potential that blockchain technology and online ecosystems offer to all areas of decentralized business.

From more than 700 applications from across 27 countries received for its various Web3 accelerator programs, Brinc’s rigorous selection process identified 25 startups poised to make significant advancements in their respective industries. The cohort, of startups at pre-seed or seed stage, is grouped under five Web3 verticals: DeFi (4), Entertainment & Loyalty Platforms (2), Gaming (8), Healthcare (5), Technology & Infrastructure (6).

The chosen startups will virtually join Brinc’s 12-week accelerator program, receiving comprehensive support, mentorship, as well as access to resources to scale their growth, elevate strategies, expand their network, and contribute to the advancement of technology-driven solutions. Aligned with Brinc’s company vision to support and maximize positive impact, the Web3 cohort will also be guided on diversity and inclusivity strategies.

The cohort’s Summer 2023 program will feature mentorship and sessions hosted by high-profile industry leaders — including Brinc’s Manav Gupta as well as Animoca Brands’ Robbie Yung and Animoca Ventures’ James Ho. Other program mentors and collaborators include:prominent investors (including Babu SK of True Global Ventures, Prashanth Swaminathan of Woodstock Fund, Sidd Gandhi of Growx); Web3 partners (including Anthony Diaz of Health Hero, Dario Heymann of Galen Growth, Douglas Corley of Alaunius Labs, Ryan Horn of N3ON, Vikash Suresh of Recorem, Yassamin Issapour of Agora Digital Capital Markets); specialized field consultants (including Andy Liu of Basebit Technologies, Robbie Nakarmi of Simmons & Simmons).

Manav Gupta, founder and CEO of Brinc, said: “Our third cohort in the Web3 realm welcomes the 25 selected startups, who bring exciting ideas and breakthrough perspectives to the blockchain space, which continues to evolve and shape our future. We are excited to work with these forward-thinking entrepreneurs to build new business models, propel creative innovation and advance incredible technologies, as well as promote diversity and inclusivity for a decentralized future.”

Brinc’s Web3 program is supported by key industry partners including Animoca Brands, DMCC, Fusang, Zilliqa, Protocol Labs, OliveX, and Prenetics.

ABO Digital commits to investing $10 million in Blocktrade after committing $200 million to Islamic Coin

ABO Digital commits to investing $10 million in Blocktrade after committing $200 million to Islamic Coin

After committing to invest $200 million in IslamicCoin issued by HAQQ Blockchain, a shariah compliant coin, Alpha Blue Ocean’s ABO Digital has invested $10 million potential investment in Blocktrade. ABO Digital a strategic financing partner in Blocktrade’s utility token BTEX.

Blocktrade is a pioneering gamified crypto trading platform that combines blockchain technology and gamification principles to provide a seamless and immersive trading experience for digital assets.

The financing commitment from ABO Digital brings added value to the gamified users on Blocktrade’s platform, allowing them to explore exciting new product launches and enhanced features. The investment will fuel the development of cutting-edge technologies, providing users with a richer and more immersive experience within the gamified asset marketplace. Additionally, the financing commitment will enable Blocktrade to expand its user base, attract top-tier game developers, and foster strategic partnerships that will further elevate the platform’s offerings.

 ‘‘Our partnership with ABO represents a paradigm shift in the digital asset industry. We take great pride in being at the forefront of innovation, not only in terms of product and strategy but also from an institutional financing perspective. This collaboration marks a significant milestone in our journey,” said Blocktrade CEO Christian Niedermueller. 

“We are excited to support Blocktrade in their mission to redefine the gamified asset marketplace following the launch of the BTEX token,” said Amine Nedjai, CEO of ABO Digital, “The financing commitment not only demonstrates our confidence in Blocktrade’s vision and potential but also highlights our commitment to driving innovation in the digital asset space. By partnering with Blocktrade, we aim to empower users, provide them with new opportunities, and revolutionize the way they engage with and derive value from their gamified assets.”

Blockchain startup Shardeum, whose seed investor includes UAE Ghaf Capital closes new round of $5.4 million

Blockchain startup Shardeum, whose seed investor includes UAE Ghaf Capital closes new round of $5.4 million

A Blockchain EVM layer 1 startup, Shardeum, whose very first investors in its $18.2 million seed round included UAE Ghaf Capital, has closed a new roud of $5.4 million from investors that include Amber Group, Galxe, J17 Capital, Jsquare, and TRGC, as well as Bware Labs, Tané Labs, Hyperithm Group, Luganodes, Blockchain Ventures Hub, CryptoViet Ventures, Blue7, and more. 

Shardeum aims to leverage the additional funding to further support the growth of the ecosystem in the lead-up to the mainnet launch later this year.

Founded in 2022, Shardeum is a highly-scalable EVM-based layer-1 blockchain deploying dynamic state sharding to keep gas fees low and transactions per second high as participation grows. As of today (July 7, 2023), more than 7.4 million transactions have taken place on the testnet, with 820K+ accounts and over 230K contracts deployed.

Kelsey McGuire, chief growth officer at Shardeum states,“The completion of this strategic raise from key participants puts Shardeum in position to expand on our mission to cultivate a global and diverse community. Given Shardeum’s consensus design and use of dynamic state sharding, validator participation is highly accessible regardless of user access to computing resources. This raise allows us to continue to prioritise decentralisation by growing our community of participants worldwide through education and other key initiatives.”

The $5.4 million raise follows Shardeum’s successful $18.2 million seed round in October 2022 from backers such as Jane Street, Big Brain Holdings, Struck Crypto, The Spartan Group, Ghaf Capital, DFG, CoinGecko Ventures, Foresight Ventures. With this Shardeum has raised $23.6 million in total. 

UAE based Global Millennial Capital launches investment program for Web3, DeFi, Blockchain startups

UAE based Global Millennial Capital launches investment program for Web3, DeFi, Blockchain startups

UAE based Global Millennial Capital Ltd (“Global”), an emerging technology and digital assets investment manager, and  venture capital firm has launched its Global Millennial Web3 Investment Program, out of UAE which aims to accelerate emerging companies to their full potential in the realm of Web3, DeFi, and Blockchain. 

Andreea Danila,  Founder, and General Partner at Global Millennial Capital Ltd., stated, “We are thrilled to announce the launch of our investment program aimed at investing and accelerating visionary technology companies operating in the Web3, Defi, and blockchain verticals, with a specific emphasis on financial services applications, among others. In addition to the typical acceleration program benefits, which include mentorship, hackathons, regulatory sandbox conversations, and strategic ecosystem connections, Global will deploy its resources to enable Series A companies to access various markets across the Middle East and Africa, from the United Arab Emirates.”

Global Millennial Capital Web3 Acceleration Program is designed to accelerate technology companies in defining and reshaping business models and economics and creating a network of global ecosystem relationships in the United Arab Emirates. The program will provide one-on-one mentorship, organize hackathons, explore testing and security, and connect with regulators, ecosystem participants, and investors. Global will invest up to $250,000 per company; ten companies are expected to be selected during the program.

Global is looking to partner with early-stage technology companies operating in data ownership, Web3 privacy tools, NFTs, cryptocurrency platforms, blockchain technology, digital entertainment, and DeFi, among other opportunistic verticals.

Global Millennial Capital Ltd is the first venture capital investor to introduce the concept of data science in the traditional investment process to create thematic investment themes and artificial intelligence-led investment recommendations. As an active investor in the global fintech sector, which comprises companies operating in the fintech, web3, blockchain, and AI verticals referred to as the “new economy technologies,” Global Millennial Capital Ltd is investing from Fund I ($25 million) in early and growth stages, using a diversified investment strategy targeting risk-adjusted returns while seeking alpha returns with downside protections. As a long-term partner of the entrepreneurs, we deploy value-creation strategies across cycles for our portfolio companies to enhance critical drivers of scalability and profitability, such as access to capital and global markets. Our mission is to generate venture capital returns along with social capital.

UAE Cypher capital leading investor in multi chain DeFi protocol Concordia

UAE Cypher capital leading investor in multi chain DeFi protocol Concordia

UAE Cypher Capital is one of the investors in Concordia, a multi-chain risk and collateral management protocol for digital assets. Concordia closed a successful $4 million seed round in June, attracting significant investments from Tribe Capital, Kraken Ventures and UAE based Cypher Capital among other investors including Saison Capital. 

Concordia’s vision is to create an interconnected, permissionless, and optimized DeFi ecosystem that promotes accessibility, affordability, and developer-friendly environments, ultimately unlocking the true transformative potential of DeFi.

Concordia’s ground-breaking solution attracted the attention of leading Dubai VC Cypher Capital, who are building their portfolio into one of the leading web3 centric portfolios globally.

Bill Qian, Chairman of Cypher Capital said “Concordia represents a significant milestone in the evolution of decentralized finance. As Chairman of Cypher Capital, I am thrilled to be part of this ground-breaking initiative that is bridging the gap between traditional finance and the fast-emerging digital asset ecosystem. Concordia’s innovative collateral management protocol and commitment to interoperability are poised to unlock new opportunities and drive greater efficiency in the global financial landscape. We firmly believe in Concordia’s vision and are excited to support their journey towards creating an interconnected and optimized DeFi ecosystem.”

Concordia addresses this critical pain point within the Web3 ecosystem by leveraging its collateral management capabilities to enable seamless value transfer across previously segregated pools of liquidity, ultimately fostering interoperability across chains. Concordia users gain access to a unified account that allows efficient management of all their assets, opening doors to new opportunities in the rapidly evolving digital economy. By seamlessly integrating multiple blockchains, Concordia pioneers the concept of a cross-chain, cross-protocol margin account in the cryptocurrency space.

The integration of Concordia’s multichain account platform by several prominent Web3 companies enables their users to seamlessly execute margin-related actions.

Concordia is designed as a modular Infrastructure-as-a-Service solution for collateral management, offering a range of products addressing risk, pricing, brokering, rebalancing, non-custodial wallets, and cross-chain synchronization. This architectural flexibility allows Concordia to continuously adapt to the rapidly evolving digital asset landscape.

Tribe Capital’s Managing Partner, Boris Revsin, stated, “I’ve known the team behind Concordia for quite some time, and I am confident they have the grit, technical skills, and go-to-market understanding to make Concordia a market leader in DeFi.”

Laurens De Poorter, Partner at Kraken Ventures, said, “The fragmentation of liquidity across an increasing number of blockchains is a known core issue for those that believe in a multi-chain future. Solving it requires not only superior technology but also best-in-class business development and a deep experience in risk management & compliance. We believe Concordia’s founding team is one of those rare teams that makes all stars align to have a real lasting impact on the overall crypto industry. We could not be more excited to partner up with them!”

Uri Ferruccio, CEO of Concordia, highlights the company’s mission, stating, “Concordia is solving the value convertibility problem for digital assets. There are many different digital assets and distributed ledgers. This has pros and cons. You can create a micro-economy tailored for the fans of a specific company, for example, but value also gets trapped in a multitude of different pockets. Concordia’s unique combination of interoperability technology and institutional-grade risk and collateral management creates a better and safer solution for cross-chain value transfer.”

Blockchain Hashgraph Association to support startups in UAE with Hashgraph Ventures

Blockchain Hashgraph Association to support startups in UAE with Hashgraph Ventures

As the Blockchain ecosystem grows in the MENA region, Blockchain Hashgraph Association, an independent non-profit organization focused on building a vibrant innovative ecosystem for startups, enterprises, and government institutions leveraging the capabilities of Hedera Hashgraph  will be expanding into the UAE and launching Hashgraph Ventures out of Abu Dhabi’s ADGM ( Abu Dhabi Global Market) with several important large enterprise collaborations within the UAE. 

In an article in Khaleej Times, Kamal Youssefi, president of the board of The Hashgraph Association, emphasized UAE’s appeal for blockchain companies, citing its innovative regulatory framework, strong talent base and diverse community. He states in the article,  “I have just returned from the governing council meetings held at Google’s campus in San Francisco, and there was a consensus that the UAE’s innovative regulatory framework, strong talent base and diverse community make it an attractive destination for blockchain companies.”

Youssefi adds, “Dubai has become an important hub to support our activities in the region and grow Hedera Hashgraph ecosystem adoption in the Middle East.”

Hedera’s governing council members are Google, Dell, IBM, Boeing, Chainlink Labs, Deutsche Telekom, EDF (Électricité de France), LG Electronics, Ubisoft, University College London, with Middle East entities such as Zain Telecom.

Moreover in 2022, the Dubai International Financial Centre (DIFC) Courts launched Tejouri, a global digital vault, on the Hedera Hashgraph network. The platform enabled the upload and secure storing of documents ranging from insurance contracts, title deeds, Wills, and financial certificates, to images and multimedia files and can be utilized by all individuals globally.

According to Youssefi, given that Hedera Hashgraph has been built from the ground up with enterprise and government use cases I mind, and given UAE’s ambitious blockchain plans, he sees Hedera Hashgraph as a perfect fit for the UAE.

This optimism extends to the entire MENA region. Youssefi states, “We’re extremely bullish on the continued growth of DeFi, gaming, trade finance, and other projects that can lower the costs and expand accessibility for millions of underserved people in the MENA region.”

GCC and MENA Family offices can make their gold work for them with blockchain tokenization

GCC and MENA Family offices can make their gold work for them with blockchain tokenization

If you are a GCC or MENA based family office that has a portfolio that includes precious metals such as gold, silver or others, or you intend to in the near future, but are hesitant because in the past you were unable to make revenues from the purchase, you now can. With the advent of blockchain, Web3 technologies and tokenization a sweet spot is upon us. 

Precious metal owners can generate earnings on their gold and make it work for them just by holding it in tokenized form. Aurus Technologies, headquartered in the UAE with offices in the UK is offering family offices the opportunity to tokenize real world assets through its sustainable tokenization as a service solution (TAAS) platform.

The GCC and MENA region has all the ingredients to make gold work for family offices. First the region itself is a hot bed for investors, secondly precious metals especially gold are well revered and invested in and third Web3 technologies including tokenization on the blockchain is revolutionizing the precious metal industry in the region.

Family offices can make their tokenized gold work for them throughout the lifetime of their ownership.

According to Mark Gesterkamp, Chief Business Development Officer, Aurus Technologies, “By minting a digital representation of vaulted bullion in the form of tGOLD, tSILVER and tPLATINUM, precious metals can now be utilized and earn transactional revenue in the digital economy.”

The company does not sell gold, but utilizes software to make gold work for its owners by allowing these tokenized real assets to be transacted and traded. Mark explains, “Part of the transaction fees flow back to the bullion owners and providers.”

  

The Growth of Investors in GCC and MENA

Recent research has shown that there are nearly 6,000 UHNW (ultra-high net worth) individuals in the Middle East with a combined net worth of US $995 billion. The number of UHNW individuals in the region is expected to increase by 24.6% in the next 5 years while the region is also expected to remain the fourth largest wealth hub in the world.

In addition the UAE is increasingly becoming a hub for family offices, with some of the world’s big names setting up offices in the country to tap the market. The same can be witnessed in KSA, Qatar, and elsewhere.

As such the region is ripe with not only a growing number of family offices but wealth that can be deployed intelligently.

Growth of interest in Digital assets

HNWI individuals and family offices are increasing their exposure to alternative assets in the form of digital assets and the MENA region is no exception. The Ocorian report found that 90% of those surveyed said their clients are looking to include crypto and digital assets in their investment strategies.

The report noted that family offices run by younger tech savvy generations want to make a move into investing in crypto and digital assets yet remain concerned about the challenges and risks.

This is more reflective in the MENA region. The Lombard Odier report found that 79% of younger Middle East investors believe there are significant opportunities in the digital and tech sectors.

Mark believes that Aurus’s blockchain tokenization offering provides tech savvy young investors with a valuable investment opportunity, easing their concerns, by offering digital assets backed by gold, silver or other precious metals. He states “Gold is understood by all, and now the new generation can put it to work sustainably and with less risk than crypto.”

 

Bullish on Gold regardless of market trends

As economic difficulties prevail globally, with worries of inflation, recession, and banking failures, precious metals are set to shine.

Tresor Gold research stated that VC firms and family offices will increase gold allocations in next 18 months. The study covered investors in in Canada, Australia, the US, UK, UAE, France, Germany, Switzerland, Qatar and Saudi Arabia.

Yet regardless of whether precious metals are seen as bullish or not, just by tokenizing gold and making it work for owners, price fluctuations are no longer relevant.  

Mark explains, “Regardless of whether gold is bullish or not, owners who have tokenized their gold will continue to make money because of the transactions. AurusX our native token for example is like a hedge for precious metals. Holders of AurusX or their own tokenized gold can earn yields in any market condition because they earn for each transaction carried out.”

Gold Investment challenges overcome with Tokenization 

Tokenizing precious metals and gold on the blockchain relieves investors from the challenges faced from utilizing traditional gold investment vehicles.  

When investing in physical gold there are always extra costs for securing, insuring and storing the gold and in return liquidating the physical gold or earning yields is also difficult.

Even with Gold index funds, or ETFs (Exchange traded funds) while investors do receive passive earnings long term, these investors do not own the gold.

Investing directly in gold via gold shares (mine shares) of gold mine operators is risky as well, as it is dependent on the performance of the mining operator and the stock exchange.

With Aurus, there is a one to one backing of the underlying bullion generating yields, making most of the challenges a thing of the past. Mark confirms, “Aurus is setting the standard in precious metals tokenization adhering to the decentralized nature of the blockchain. We work with multiple storage locations around the globe including reputable partners such as Spanish refinery Sempsa JP and vaulting facilitator Brinks.”

The Aurus Opportunity a solution for all

Since 2018 Aurus has been a strong proponent of opening the precious metals market to everyone with a smartphone using the Aurus application.

The company is leveraging metal-backed blockchain technology to help gold, silver, and platinum businesses democratize these assets via the digital economy while earning passive rewards in the digital assets & DeFi space.

By modernizing the precious metals market with Web3 technologies, it is increasing access, usability & trust, ultimately unlocking global demand.

Mark concludes, “The total size of tokenized illiquid assets, including real estate and natural resources could reach $16.1 trillion by 2030. As such we are playing our part by offering an open ended solution that allows any party to bring gold to Web3 under the standards of both the London Bullion Market Association (LBMA) and DMCC (Dubai Multi Commodities Center). ” The bigger the Aurus system grows the more precious metals will be paid out to AX holders.”

For the first time in the region, Aurus will be offering gold tokenization solutions to family offices allowing them to put their gold to work and generate yields. Mark adds, “We welcome partners in the UAE and GCC to showcase our ecosystem and work together to tokenize part of their portfolio by taking either a direct position in Aurus TGold and TSilver or tokenizing their own gold or even investing in AurusX tokens.” Aurus is currently seeking to raise $500,000 from the sale of its AurusX Tokens.

Aurus is working with greener future in mind, by reducing CO2 emission. It is collaborating with green initiatives globally. Mark states, “Blockchain allows for easier and transparent collaboration with ESG initiatives and we will continuously seek partnerships in positioning precious metals towards a greener investing alternative. We aim to ensure everyone can buy precious metals on the blockchain in a more sustainable manner.”

For more info check out the Aurus video here: https://www.youtube.com/watch?v=AtFdmbHLoPg

Saudi Venture Capital invests in Web3 digital asset fund by UAE Shorooq Partners

Saudi Venture Capital invests in Web3 digital asset fund by UAE Shorooq Partners

The Saudi Venture Capital (SVC) has invested $30 million in the $150 million Bedaya Fund II, managed by UAE Shorooq Partners to back early-stage startups with a focus on fintech, digital assets, Web3, Metaverse, DeFi, and other areas.

At the launch of Bedaya Fund II, in a press release Shane Shin founding partner at Shorooq Partners stated,  “We have always been early movers, be that robo-advisory, crowdfunding, SME lending, open banking, card issuer processing, and so forth. We believe Web 3.0 models like DeFi, NFT, Metaverse are going to be the key players in the next iteration of online business.”

Bedaya Fund II is an early stage venture capital fund managed by Shorooq Partners. The fund is located in Abu Dhabi, United Arab Emirates and invests in Northern Africa, Jordan, Saudi Arabia, Turkey, United Arab Emirates, Pakistan. The fund targets investments in the fintech and software sectors.

On Pitchbook they benchmark the Bedaya II fund against EchoVC Chain Blockchain Fund,  an early-stage venture capital fund managed by EchoVC Partners, located in Lagos, Nigeria which invests in Africa. The fund targets cryptocurrency/blockchain sectors.

The subscription agreement between Saudi Venture Capital and Shorooq Partners was signed by Dr. Nabeel Koshak, CEO and Board Member at SVC, and Mahmoud Adi, Founding Partner at Shorooq Partners.

Dr. Koshak commented: “The investment in Bedaya Fund II by Shorooq Partners is part of SVC’s Investment in Funds Program to support the growth of the VC ecosystem in Saudi Arabia for all stages and to fill financing gaps for early stages. SVC’s expansion in investing in early-stage funds comes as a result of the recent support from the SME Bank to increase the investment capital of SVC, leading to a total investment capital of $1.6 billion.”

Mahmoud Adi added: “We are privileged to have SVC as a strategic investor to Bedaya Fund II, again after our partnership in the prior fund (Bedaya Fund I). This commitment highlights the increasing confidence in Saudi Arabia’s thriving startup ecosystem. With our persistent focus in Saudi Arabia and leadership position across the Middle East, Bedaya Fund II is well-positioned to support the growth and innovation of early-stage startups.

SVC is a government investment company established in 2018 and is a subsidiary of the SME Bank, one the development banks affiliated to the National Development Fund. SVC aims to stimulate and sustain financing for startups and SMEs from pre-Seed to pre-IPO by investing $1.6 billion through investment in funds and co-investment in startups. SVC invested in 38 funds that have invested in 674 companies through 1,257 deals.

Whampoa Group Web3 investment firm and digital bank to invest $50 million in Bahrain with Golden license

Whampoa Group Web3 investment firm and digital bank to invest $50 million in Bahrain with Golden license

In a recent press release, Bahrain has granted its first five Golden licenses and Whampoa Group, a multi-family office with investments in global tech firms, and its digital bank has received one of these licenses. The holders of Golden licenses are eligible if they will create more than 500 local jobs, or make an investment of over $50 million in their first years in the Kingdom while contributing to strengthening the Kingdom’s overall development.

The Kingdom of Bahrain has granted the first five Golden Licenses to projects presented by Citi, Eagle Hills Diyar W.L.L, Infracorp, Saudi Telecommunication Company (stc), and Whampoa Group. With a collective investment of upwards of USD 1.4 billion into Bahrain, the greenfield projects and expansions are expected to create more than 1,400 job opportunities within the next three years in support of the Kingdom’s Economic Recovery Plan goals.

The licenses were presented at the headquarters of each company to Michel Sawaya, Bahrain CEO for Citi; Dr. Maher Al Shaer, Managing Director of Eagle Hills Diyar W.L.L.; Majed AlKhan, CEO of Infracorp; Nezar Banabeela, Chief Executive Officer (CEO) of stc Bahrain; and Shawn Chan, Group CEO of Whampoa Group. and a virtual signing event was organised for Singapore-based Whampoa Group.

The Bahrain Economic Development Board had welcomed Singapore based digital asset bank part of Whampoa Group to Bahrain earlier this year. The digital bank, which offers integrated financial solutions to serve institutions, innovators, and sophisticated investors globally, including digital banking services and the trading, custody, and asset management of digital assets, will open its operations in Bahrain by the end of year.

In 2022, Singapore’s Whampoa Group deployed about $100 million through a venture capital fund in start-ups in the burgeoning digital assets segment in Web3, digital assets, stablecoins and NFT. 

Whampoa Digital, the group’s digital assets investment arm, will invest in and incubate early stage startups in Web3 – a utopian vision of the internet where users, rather than shareholders, own websites and other online services.

In recognition of the Golden licenses’ launch, HE Abdulla Adel Fakhro, Minister of Industry and Commerce, said, “The Golden License is a pivotal step towards successfully achieving the objectives of Bahrain’s Economic Recovery Plan, which aims to attract $2.5 billion in foreign investment by the end of 2023.”

HE Khalid Humaidan, Chief Executive at the (Bahrain EDB), said, “The Golden License is a successful public-private partnership that has created bespoke solutions for investors and start-up companies. It has provided them with fast-tracked approvals and several features and facilities that have enabled them to secure a global footprint from Bahrain.”

After raising $1.3 million Web3 startup nealthy sets up headquarters in UAE

After raising $1.3 million Web3 startup nealthy sets up headquarters in UAE

Web3 tokenized indices investment startup, nealthy, which recently raised $1.3 million, has set up its headquarters in Dubai UAE.

nealthy provides index tokens that replicate the structure of classic exchange-traded funds (ETFs). By storing multiple digital assets in on-chain vaults, building a diversified portfolio, and issuing an underlying indicator token. The first token will be called $nNFTS (which retains its real value through a peg to recognized blue-chip NFTs), nealthy is lowering the barriers to entry and opening the floodgates of digital asset investment to people around the world.

The leadership team of CEO Ludwig Schroedl, CTO Zied Said, and CMO Tim Pascual said that Dubai-based operations would help expand to a crypto-friendly region renowned for its forward-looking strategies. “We are thrilled to announce our move to new corporate headquarters in Dubai. From the standpoint of Dubai’s robust investment market to its renown as a hub for innovation, tourism, collectibles, luxury, and more, operating from Dubai will give nealthy access to the customers, investors, partners, and collaborators needed to bring nealthy’s performant solutions to as wide a user base as possible. 

We are excited about the next stage of our journey and cannot wait to power ahead with new releases and developments for our clients, partners, and investors,” said Ludwig Schroedl.