Crypto Oasis venture co-founder steps down and joins crypto conglomerate

Crypto Oasis venture co-founder steps down and joins crypto conglomerate

Stepping away from his operational role at UAE’s Crypto Oasis venture entity, the Middle East blockchain ecosystem, Saqr Ereiqat Co-founder of Crypto Oasis Ventures, has joined Indian headquartered, TDMM, crypto trading firm as CEO, and as a partner at TradeDog Group, a global crypto ventures conglomerate that carries out research, education, media, consulting, incubation, and trading.

TradeDog Group has grown to become one of the most prominent and diversified groups in the crypto space, with a presence in over 20 countries and a network of over 500 partners and collaborators. TradeDog Group’s mission is to empower and educate people and businesses about crypto and blockchain technology and to foster a vibrant and inclusive crypto community.

While TDMM is an established crypto trading firm builds scalable liquidity on digital assets, generating over $5 billion in trading volume. With a team of 30+ professionals across 20+ countries, TDMM serves 40+ clients across Defi, GameFi, and Infrastructure.

Under Ereiqat’s leadership, both TDMM and TradeDog Group are set to expand their reach and influence in the blockchain and digital assets market.

Reflecting on his new position, Ereiqat shared his enthusiasm and vision for the future stating, “I am thrilled and honoured to join TDMM as its new CEO and the TradeDog Group as a partner. I look forward to working with the team to build scalable liquidity on digital assets, position ourselves as global leaders, and create value for our clients, partners, and stakeholders.”

Gaurav Dubey, the founder and chairman of TradeDog Group, expressed his enthusiasm about Ereiqat’s appointment added, “We are delighted to welcome Saqr Ereiqat as our new CEO and partner. After all, the TradeDog group is nothing but a few distinguished leaders like Saqr, who are determined to add value to the world and make finance as accessible as food to the 8 Billion people of the world. We are excited to have him and empowered now, more than ever, to achieve greater heights.”

Blockchain and AI IO Research secures $30 million valuating it at $1 billion

Blockchain and AI IO Research secures $30 million valuating it at $1 billion

IO research, a, blockchain and AI startup, founded and headed by Ahmad Al Shadid, has raised $30 million in a series A funding, valuating the company at $1 billion.

IO research, the creators of Depin, is a Solana based decentralized AI compute cloud. IO Research launched DEPIN in November 2023. At the time this was considered as an opportunity for cryptocurrency miners in possession of underutilized GPUs, as well as clients requiring a scalable and affordable computing solution amid rising costs.

In November, Founder and CEO Ahmad Shadid has noted, “This is a monumental moment for io.net and the entire decentralized computing community. We are not simply launching a platform; we are pioneering a global movement towards optimal utilization of computational resources. Our vision has always been to bridge the gap between underutilized resources and rising computational demands facing AI and ML engineers, not to mention crypto miners. I believe we can make a significant contribution to the AI revolution over the coming months and years.”

With deployment speeds of less than 90 seconds, io.net will enable ML and AI engineers to deploy massive enterprise-level clusters to power models for training and inference. io.net is said to be up to 90% more cost-effective than traditional GPU providers such as AWS and Azure.

Few months later, March 2024, IO.net, DEPIN has received $30 million in funding spearheaded by Hack VC in collaboration with several angel investors including Multicoin Capital, 6th Man Ventures, Solana Ventures, OKX Ventures, Aptos Labs, Delphi Digital, The Sandbox, Sebastian Borget of the Sandbox, and others.

In addition, there was investment from Matty Taylor, Ian Krotinsky (founder of Tiplink), MH Ventures, Amber Group, Arkstream, Modular, Continue Capital, Foresight, Longhash, SevenX, and Delphi Digital.

According to sources familiar with the Series A funding, the funds were raised in tranches coupled with the fact that it is structured as a simple agreement for future equity (SAFE), with token warrants in a 1:1 ratio. The first tranche happened in January but it was not until recently that the final one was completed.

The CEO and founder of io.net Ahmad Shadid, explained the terms of the investment, stating that investors have a minimum one-year lock-in period for tokens.

This $30 million fund will help the Artificial Intelligence (AI) protocol enhance the aggregation of blockchain distributed GPUs.

Qatar shrimp farm to raise $285 million using security token offering

Qatar shrimp farm to raise $285 million using security token offering

Stobox Blockchain tokenization solution provider has announced that it will be working with Qatar based ICM Capital to raise $285 million for the biggest aqua marine shrimp farm using a security token offering (STO).

The project will introduce security token offerings for aquaculture industry utilizing Stobox’s expertise in tokenization and blockchain technology. Stobox offers Securities issuance, management, and trading on a blockchain.

Jason Jones Head of Global STO Sales Consulting & Client Project Management at Stobox, states, “Stobox will be handling the legal, technology and consulting requirements for the project.”

ICM Capital aims to raise $285 million for the development of the Shrimp Farm Project. This capital has been earmarked for scaling operations, enhancing sustainability practices, and ensuring the farm’s competitiveness on the global stage.

ICM Capital with headquarters in the UK, opened an office in Qatar as part of the firm’s expansion into the Middle East and North Africa (MENA). The multi-regulated broker gained authorization from the Qatar Financial Centre to establish a physical presence in the state.

As per Stobox announcement, through this tokenization effort, ICM Capital is not only seeking financial investment but also inviting global stakeholders to be a part of a sustainable and profitable future in aquaculture. Tokenization brings efficiency to the traditionally complex issuance of securities by leveraging blockchain technology, offering a more streamlined and technologically advanced approach to the entire process.

This comes as Qatar has moved full force into the digital assets field announcing its digital assets lab as well as upcoming digital assets regulatory framework. QFC has mentioned on several occasions that they are interested in seeing security token offerings, tokenization of real estate and more.

Blockchain GameFi Venture, MetaTrace receives license in UAE

Blockchain GameFi Venture, MetaTrace receives license in UAE

MetaTrace, a GameFi venture, has secured a license from the UAE RAK DAO within the free economic zone. Embarking on its third investment round, the project aims to amass $25 million for global expansion, fortifying its market presence globally.

In May 2022 MetaTrace raised $500,000 for its NFT collection. By August 2022, a successful MVP on the geolocation platform MetaFora, powered by Polygon blockchain, was unveiled.

The second investment phase garnered $5,150,000, supported by angel investor Alexey. This marked the beginning of an extensive blockchain product ecosystem and a team of 50+ professionals. In September 2023, the MetaTrace TRC token debuted on exchanges, showcasing a 400% increase and maintaining a leading market position.

Metatrace is now launching its Series A investment round of $25 million. Mezen consulting group values MetaTrace at over $296 million, with projections soaring to $700 million within the next year. Despite the high valuation for a yet-to-be-fully-launched game, MetaTrace’s substantial user base and vibrant ecosystem provide a distinct advantage in this dynamic project.

MIRAI Capital to invest $7 million in digital assets exchange

MIRAI Capital to invest $7 million in digital assets exchange

UAE based MIRAI Capital Global, has made a non-binding commitment of $7 million to invest in DigiMaaya, a digital assets exchange and bank.

As per MIRAI website, MIRAI Capital Globbal aims to revolutionize global investing, in collaboration with Royal Office of H.H. Sheikh Ahmed Bin Faisal Al-Qassimi. The firm is based in Ras El Khaimah UAE.

It includes the following members, Dunston Pereira (Group CEO of the Private Office of H.H. Sheikh Ahmed Bin Faisal Al-Qassimi), Pranav Jyoti (Chief Investment Officer for the Private Office of H. H. Sheikh Ahmed Bin Faisal Al-Qassimi and MD, MIRAI Capital Global) along with Vinoth Beemjee (Senior Partner and Regional Head, APAC, MIRAI Capital Global).

MIRAI Capital global has identified the massive opportunity that DigiMaaya digital assets exchange will offer. It directly addresses democratizing financial purchasing through fractional asset offerings via a comprehensive marketplace and other product mixes.

Mr. Pranav Jyoti mentioned that DigiMaaya’s innovative tech solutions use the latest technology stack, building the pillars to forward Industry 4.0 thesis via emerging tech like Blockchain, AI, Encryption and Cryptography, VR, etc.

APAC Lead and Senior Partner, MIRAI Capital, Vinoth Beemjee, additionally said, “Since DigiMaaya will allow users to benefit from its suite of services like Trading, Loans, Insurance, Tax calculator, Financial Health Card. This investment by MIRAI Capital Global is a strong bet on smart services being built by a seasoned Team.”

Utsav Dar, Founder & CEO, DigiMaaya shared his vision regarding the company and the benefit of this investment through MIRAI Capital Global, “At DigiMaaya’s core, we believe in taking care of all our stakeholders, i.e. our investors, users, employees and vendor partners. Our internal processes are aligned with our company culture and our team’s common passion fuels our drive to create a user centric, global, regulated and compliant Financial SuperApp.”

DigiMaaya digital assets exchange and bank, comprises a team of Industry leaders & Specialists with varied expertise who have aligned themselves to the vision of building DigiMaaya as a Fintech super app. This global team includes Heero Punjabi (Co-founder and CTO), Punnoose Joseph (Co-founder and Chief Technology Architect), Preet Gill (Co-founder, Investor Relations and Corporate Communications), and Dr. Chiraag Jain (Chief of Staff and Chief Operating Officer).

Utsav Dar emphasizes on DigiMaaya’s USPs: A 100% licensed and regulated App with robust and transparent audit mechanisms for trust building, 3-level Appellate solution across 9 languages for seamless customer support, Steady liquidity addressing a major problem in the current illiquid market, and a Transition to Web3 through informative educational series and incentivized user benefits.

$3.8 billion fund now tokenized on the blockchain with Sygnum Bank

$3.8 billion fund now tokenized on the blockchain with Sygnum Bank

Sygnum Bank which has a regulated digital asset bank in the UAE, alongside Hamilton Lane, and Apex Group announced a cross industry project that expands global private market access to significantly larger and more diverse groups of qualified investors using Blockchain.

Leveraging the power of the blockchain, the new DLT-registered share class automates and integrates traditionally separate fund management functions, increasing both accessibility and efficiency. The first fund to feature the new share class will be Hamilton Lane’s USD 3.8bn GPA Fund, which has an annual average performance growth of 14.6 percent and has outperformed the MSCI World Net Total Return Index (USD) by 4.44 percent since inception in 2019.

Leveraging Sygnum’s DLT solutions, the minimum investment has a significantly lower fund entry point than direct investments into traditional private markets’ evergreen funds. These DLT-registered shares will be available exclusively to Sygnum professional, institutional and corporate clients.

The unique investment opportunity is the result of a strategic, cross-industry project underway for more than a year. Hamilton Lane, a leading global private markets investment firm with over USD 900bn in assets under management and supervision, will serve as investment manager for the new offering. Apex Group, in its role as transfer agent and fund administrator (via Apex Fund Services regulated in Luxembourg), and FundRock-LRI, in its role as Alternative Investment Fund Manager (AIFM), is leveraging Sygnum’s DLT solution to manage the on-chain share registry.

Victor Jung, Head of Digital Assets at Hamilton Lane, says “We strongly believe that tokenisation has the potential to transform the way investors gain access to the historically strong returns and performance opportunities within the private markets, and are delighted to announce this digital-native, institutional-grade offering with Sygnum and Apex. This joint initiative with the Swiss Private Wealth team underscores the region as a leading digital asset hub that we believe will serve as a catalyst for broader adoption within the banking and wealth management industry. We would like to invite the community to join us in this movement.”

Fatmire Bekiri, Sygnum Head of Tokenisation, says “The new DLT-registered share class in Hamilton Lane’s GPA Fund marks the first entry in Apex’s on-chain share register. This is a significant breakthrough in making private markets more broadly accessible and investible via DLT solutions. We are proud to join forces with other industry leaders like Hamilton Lane and Apex, and we look forward to this strategic partnership delivering a series of new and unique opportunities for investors, as well as heralding positive, blockchain-powered change for the industry.”

Bruce Jackson, CFA, Apex Group Chief of Digital Asset Funds and Business says “Hamilton Lane will raise new investor capital, while expanding direct access to their GPA Fund offering. Clients of Sygnum Bank now have access to a sophisticated alternative asset class, designed to achieve significant alpha through uncorrelated investment returns. Apex continues to meet its goal of increasing access for its clients’ alternative strategies and will continue to perfect its Framework Operating Model for the distribution of alternative asset funds using blockchain as the subscription, onboarding, operating, administration, and transfer agency platform.”

This unique investment opportunity is made possible by Sygnum’s expertise in leveraging the blockchain’s capabilities in a fully-regulated environment. Novel project aspects include the “fractionalisation” of assets to enable smaller investment entry-points, streamlined compliance, the end-to-end automation of the on-chain share registry and transfer agent activities, as well as increased levels of transparency due to the open nature of DLT. This project is built on the Polygon blockchain.

According to McKinsey5, the +300% growth of global private markets fundraising between 2009 and 2022 was due to its consistent outperformance of public markets. However, the multi-million-dollar commitments that were typically required to participate in this high-growth market have, until now, limited private markets exposure for many in the broader investment community.

Sygnum closed a $40 million round, which valued the firm at $900 million earlier this year.

BackPack raises $17 million to grow its crypto ecosystem

BackPack raises $17 million to grow its crypto ecosystem

The BackPack group continues to move from one success to another. After receiving its crypto exchange license in UAE, and expanding to 11 states in the USA, BackPack has now raised $17 million in a series A round led by PlaceHolder VC.

Other select strategic investors includedHashed, Robot Ventures, Amber Group, Wintermute, Selini Capital, Delphi Digital, and founders of leading web3 ecosystems such as Solana, Tensor, Jito, Zeta, Marginfi, Drift, Monad, Galxe, and other influential supporters worldwide.

Armani Ferrante, CEO of Backpack commented on the news states, “The history of finance is littered with scandals, but Backpack is doing things differently. Over the past year, we’ve set the foundation to build a crypto-native financial institution, and with the conclusion of this round, with trust minimization and compliance as foundational principles, we begin a new chapter for ourselves and, hopefully, for the rest of the industry.”

The Backpack ecosystem comprises several products and services, including the popular Backpack noncustodial wallet, Backpack Exchange, a fully regulated global cryptocurrency exchange with industry-leading speed, security and functionalities, and Mad Lads, currently the top NFT community in the Solana ecosystem. Backpack is also the creator and developer of Anchor, the Solana smart contract framework, the executable NFT (xNFT) token standard, and others.

Backpack’s strategic fundraising was led by Placeholder VC. “We’ve been impressed with Backpack’s ability to not only deliver high-quality applications, but also build a strong community around their ecosystem,” said Joel Monegro, General Partner at Placeholder VC. “After building a relationship with the team over the past year, we’re convinced they have the skill, ambition and drive to create one of the most trustworthy global exchanges in the industry with a strong focus on performance, compliance, and auditability.”

The round also attracted strong interest from other leading web3 ecosystem players. “The Backpack team is a great example of what happens when crypto natives are also strong builders. They understand that crypto is not just the underlying technology, it is also the culture that forms around it,” said Evgeny Gaevoy, founder of Wintermute, one of the largest liquidity providers in digital assets, “For me, Backpack is having the success I would expect, when a team figures out the intersection of tech and culture. I’m excited to see them continue to grow.”

Digital asset investment firm launches Shari’ah compliant crypto Fund

Digital asset investment firm launches Shari’ah compliant crypto Fund

Netherlands-based investment firm, The Growth Capital, has partnered with Shari’ah Review Bureau (SRB) as its Sharia advisor to oversee its investment activities in digital assets, particularly cryptocurrencies, through the TGC Trading Fund.

The Growth Capital views digital assets as catalysts for revolutionary changes in global finances. Omid Rahimi, CEO, emphasized the company’s commitment to leveraging its full licensing in the Netherlands to bring about positive transformations in the financial investment community. Obtaining Sharia compliance certification is a significant milestone for The Growth Capital, enabling the company to offer the Muslim community exposure to digital assets with regulatory adherence and Sharia assurance.

The Growth Capital has proactively established a fund dedicated to investing solely in Sharia-compliant cryptocurrencies, employing a long-term appreciation strategy. Omid Rahimi highlighted the collaboration with SRB, citing their extensive experience working with asset managers, blockchain, and fintech companies as a strategic move to focus on private Islamic investors and provide them exposure to Sharia-compliant digital assets.

SRB, renowned for its end-to-end Sharia advisory solutions, offers centralized services for Sharia supervision, functionality, and swift product certification.

This approach not only streamlines the process for global Islamic financial establishments and fintech startups but also reduces overheads associated with Sharia scholarly tasks.

Yasser S. Dahlawi, Founder and CEO of SRB, acknowledged the growing trend in the investment community towards alternative investments in the digitized asset class, emphasizing how SRB’s Sharia assessment of the assets, controls and audit services align with the unique nature of non-traditional products. Dahlawi concluded by expressing how their collaboration with The Growth Capital supports the firm in maintaining focus on critical investment functions while ensuring ongoing Sharia compliance.

Prior to this MRHB Network partnered with Shari’ah Review Bureau (“SRB”), a Bahrain-based Shari’ah advisory firm, to independently assess and review its new product EMPLIFAI (Earnings Amplified with Algorithms & AI) which aims to provide Sharia-compliant passive income.  

UAE Web3 blockchain gaming project, Exverse raises $3 million

UAE Web3 blockchain gaming project, Exverse raises $3 million

Exverse, a UAE Web3 blockchain gaming project, incubated by launchpads that include KuCoin Labs, Seedify, Epic Games, and ChainGPT, has raised $3 million in a private round led by Cogitent Ventures, Cointelligence, and Moonrock Capital.

It also had additional support from industry leaders such as KuCoin Labs, Epic Games, Seedify, and ChainGPT. The funding will power preparations for the game’s testnet and token launch, forge additional strategic partnerships, and expand its marketing efforts in the APAC region.

Before closing its private seed round, Exverse forged strategic partnerships with a wide range of entities to ensure the startup has a full arsenal of tools to develop the strongest possible game, alongside a robust business model and marketing strategy. Seedify and KuCoin Labs provided guidance and mentorship via their incubation programs—with ChainGPT preparing Exverse for its upcoming launch —and Maven Capital advising the startup on its go-to-market strategy.

Spanning three planets, the Exverse ecosystem offers gamers an immersive experience and advanced gameplay by focusing heavily on competitive and intuitive mechanics, a fluid physics engine, and dynamic visuals. Exverse’s three planets—Social, Quest, and Battle—cater to different playing styles while remaining interconnected within a single timeline, where users compete in cycles known as seasons, lasting eight weeks.

The blockchain game is designed to foster community by allowing players to engage in social events and even develop user-generated worlds within an ever-expanding universe.

Built using Epic’s Unreal Engine 5, Exverse utilizes blockchain technology to strike the balance between enjoyable, realistic, and immersive real-time gameplay. The game prioritizes skill over pay-2-win mechanics, enabling players to earn rewards by staking tokens before a season’s kickoff, with top performers receiving a share of profits from in-game NFTs such as cosmetics and skins.

Ahead of its upcoming alpha launch with a 5,000-player tournament set for March, Exverse has already surpassed 65,000 verified signups. The deathmatch-style tournament occurring on the game’s Battle Planet precedes Exverse’s token launch and gives early wait listers an exclusive chance to test their skills.

“We see ourselves as pioneers in the gaming industry because we’ve built an AAA-quality, classic first-person shooter with Web3 elements,” says Fei Ooi Hoong, CEO of Exverse. “Our hybrid approach is the result of our understanding that for NFT or blockchain games to succeed post-bull market, they need to appeal to gamers in the same way as beloved titles like ‘Call of Duty,’ ‘Halo,’ and ‘Counter-Strike’ have. We decided to focus our efforts first on developing a fun and visually captivating game, and only then strategically working in the token mechanics in a way that rewards skill—all before conducting an IDO.”

“We are excited to be invested in such a promising gaming project like that of Exverse, who gracefully blends the best of Web2 with Web3,” says Sayantan Mitra, partner at Cogitent Ventures. “They boast a strong and visionary leadership along with a talented group of developers, and we are excited to see their project advance over the next several months.”

“It’s been a great pleasure working closely with the Exverse team during their incubation period with us,” says Esport Manager at Seedify. “They had a great vision, talented leadership, and an impressive team of developers that allowed them to get the most out of our incubator. Seedify continues working closely with Exverse to prepare the team for their testnet launch as well as providing a wide array of support, guidance, and infrastructure.”

First Solana and now BridgeTower set up Blockchain digital asset platforms in UAE

First Solana and now BridgeTower set up Blockchain digital asset platforms in UAE

Deus X Capital, a $1 billion family-office backed investment and operating company and Bridgetower Capital, a leading provider of digital asset and blockchain infrastructure with $800 million, have partnered to launch BridgeTower Middle East in ADGM (Abu Dhabi Global Market) in the UAE.

Tim Grant, CEO of Deus X Capital, and Cory Pugh, CEO of Bridgetower Capital, will lead the newly formed entity that is the first of many expected partnerships between the two companies.

The company which will also have a presence in Dubai is set to launch and operate an institutional grade digital asset infrastructure platform to facilitate the rapid growth of digital assets business in the UAE and Middle East/GCC Region.

The company is self-funded and brings more than $250 million of delegated assets for turnkey staking, alongside years of digital asset and capital deployment experience and resources available through Bridgetower and Deus X.

BridgeTower ME will offer turnkey institutional staking, a secure service that will see Bridgetower ME validate transactions across some of the world’s largest blockchains that it is bringing to the region.

It will also offer advanced data center capabilities including AI GPU services over blockchain networks. Bridgetower ME will produce and distribute AI GPU compute power generated from its proprietary bare metal server infrastructure and data center capabilities.

In addition the platform will also offer private equity/venture building facilitation, to support and grow the blockchain digital asset ecosystem in the UAE region, and its customizable Web3 commerce platform, to service prominent brands who are evolving products and services into digital asset opportunities.

This includes participation by large global consumer brands, global art markets, and partnerships with global sports clubs, associations and athletes amongst others.

It is anticipated the Board of Directors will utilize long-term capitalization options aligning with its commitment to the country, including liquidity events such as a public listing on the Abu Dhabi stock exchange, ADX.

“Staying true to our road map of global expansion and partnering with top companies, it’s a rare privilege to see Deus X and Bridgetower partner to create Bridgetower ME as one jointly owned, Abu Dhabi entity,” said Bridgetower Chairman and CEO Cory Pugh. “We will bring substantial assets forward to the newly formed Bridgetower ME. We have tremendous respect for the UAE business culture and regulatory approach to digital asset infrastructure and look forward to investing resources to both incubate and bring new opportunities to the UAE.”

“We are delighted to have the opportunity to work with Abu Dhabi to incorporate a company that is solely focused on making the country the global leader in digital assets and fintech,” said Deus X Capital CEO Tim Grant. “Our mission is to help bring about a new financial ecosystem that is cheaper, fairer and more accessible for everyone, and this is an enormous opportunity to help achieve that goal in the region.”

Arvind Ramamurthy, Chief of Market Development at ADGM said “Bridgetower ME is making exciting moves as they look to strategically contribute to the development of the digital asset infrastructure in the UAE and throughout the MENA region, by establishing their presence in Abu Dhabi. ADGM’s comprehensive regulatory framework for digital assets provides a solid ground for leading players in this sector and creates a business-friendly environment for their development and operations expansion. We look forward to Bridgetower ME participation in ADGM’s vision of technological innovation and excellence, and its contribution to positioning Abu Dhabi as a global hub for digital assets.”

This announcement comes after Solana also set up its presence in ADGM announcing a partnership to enhance distributed ledger technology and blockchain innovation.

The Solana Foundation is a non-profit organization dedicated to decentralization, adoption, and security on Solana network.

As per the press release, the collaboration between ADGM and the Solana Foundation will further expand ADGM’s existing offerings by exploring opportunities for joint initiatives and projects related to the development of the blockchain company ecosystem in Abu Dhabi.

Hamad Al Mazrouei, CEO of ADGM Registration Authority, stated, “Our strategic alliance with the Solana Foundation marks a key milestone in cementing ADGM’s leadership in the blockchain sector, and represents a direct reflection of the effectiveness of our DLT Foundations Framework and our commitment to the growth and the development of the blockchain sector. We are excited to partner with Solana to pioneer the future of technology, and further enhance the level of knowledge in the space of blockchain by emphasizing the value of regulation and compliance in ensuring robust and sustainable development. We are confident that this significant collaboration will lead to bolstering the blockchain ecosystem and driving further innovative initiatives in Abu Dhabi and the UAE.”

The UAE has emerged as a global hub for innovation and adoption of blockchain technology, said Lily Liu, President of the Solana Foundation. “Working closely with ADGM is a significant step forward in the continued growth of blockchain adoption in the region as a whole, and advances the Solana Foundation’s goal of fostering innovation, security, and widespread adoption on the Solana network in the Middle East.”

In November 2023, IOTA DLT Foundation announced that it had been registered as the first foundation under the DLT Foundations Regulations at ADGM ( Abu Dhabi Global Markets.