UAE tokenization issuance platform Libre Capital and Mantra offer institutional investors access to onchain funds

UAE tokenization issuance platform Libre Capital and Mantra offer institutional investors access to onchain funds

MANTRA, a layer 1 blockchain purpose-built for tokenized real-world assets (RWAs) has partnered with Libre Capital, a UAE-headquartered financial instruments tokenization and issuance platform, to provide investors with onchain access to a diverse range of attractive investment funds.

As per the press release the partnership will provide those MANTRA users that are institutional or accredited investors with investment opportunities across a number of notable onchain funds, including leading hedge funds, private credit funds and money market funds.

By leveraging Libre’s capabilities and MANTRA’s robust ecosystem, the partnership will facilitate the issuance of a tokenized Money Market Fund, and expand investment horizons for institutional and accredited investors seeking to diversify their portfolios within the digital asset landscape. The initiative underscores MANTRA’s commitment to leading the development of a comprehensive and diverse digital asset infrastructure, and strengthens MANTRA’s position in the growing digital asset spectrum within the financial services industry.

Libre operates backbone infrastructure that allows investors to access tokenized versions of real world assets such as money market funds, private credit and hedge funds and other alternative asset products on public blockchains. Libre does this through the on-chain Libre Gateway DeFi dApps (decentralized applications) deployed on each public chain. This enables accredited, professional and institutional investors to directly access top-tier funds on MANTRA Chain in a fully compliant manner.

“We’re honored to be partnering with Libre to give users access to this caliber of funds, ” said MANTRA Co-Founder and CEO John Patrick Mullin, “with the addition of protocols like the Libre Gateway, MANTRA can better equip users with a best-in-class collection of tools to continue to grow the real-world asset economy.”

“The launch of the Libre Gateway on MANTRA Chain is a huge step forward to enable access to wealth and treasury management tools for users on MANTRA, and for Libre to take advantage of MANTRA’s RWA-specific infrastructure,” said Dr. Avtar Sehra, CEO and founder of Libre.

Web3 sustainability venture studio jointly launched by UAE Inacta ventures and The Hashgraph Association

Web3 sustainability venture studio jointly launched by UAE Inacta ventures and The Hashgraph Association

The Hashgraph Association, a Swiss-based association and leader at the forefront of digital enablement on the Hedera network, today announces the launch of a groundbreaking Sustainability Venture Studio for Enterprises, in collaboration with Inacta Ventures, a renowned Swiss and UAE Web3 venture builder. 

Under “The Green Block” Iinitiative, a global think tank and launchpad for sustainability projects launched during COP28 in UAE, the joint Sustainability Venture Studio aims at empowering sustainable projects around the globe, leveraging the Hedera Guardian as the balance sheet of the planet that enables fair carbon markets with industry leading trust and transparency. 

The Hedera Guardian is an open-source platform that uses the Hedera distributed ledger technology (DLT) network to enable digital sustainability policies and requirements-based dMRV (Digital Measurement, Reporting, and Verification) tokenization for carbon credits and reduces fraud in the ESG market. 

The $50 million Sustainability Venture Studio will focus on enabling auditable climate finance transactions that are easily verifiable, publicly transparent, and accurate. This global co-investment sustainability program will span over the next five years, with The Hashgraph Association investing $25 million, contributing to 50%, while the remaining $25m co-investment reserved for enterprises interested in developing sustainability use cases on the Hedera Guardian.

By combining resources and specialist expertise in sustainability and Web3, this unique partnership is set to revolutionize the way sustainability projects are funded and executed around the world, ensuring a long-term positive environmental, social, and governance (ESG) impact.

Kamal Youssefi, President of The Hashgraph Association stated, “With The Green Block Sustainability Venture Studio, we are creating standards for reporting sustainability assets to ensure credibility and accuracy using the Hedera Guardian platform as the balance sheet of the planet, while leveraging the Hedera network as the world’s most greenest distributed ledger network.” 

He added, “We look forward to further growing the global ESG ecosystem that is being built on the Hedera Guardian, introducing certainty, credibility, and comparability of data.”

Ralf Glabischnig, Founder of Inacta Ventures, noted, “We are thrilled to integrate the Sustainability Venture Studio into The Green Block Initiative. This collaboration with The Hashgraph Association will accelerate the development and implementation of sustainable projects in The Green Block ecosystem worldwide.”

Hedera, known and proven as the greenest DLT in the market, according to the UCL Centre for Blockchain Technologies research paper, continues to uphold its promise of sustainability. This new venture studio focused entirely on sustainability use cases not only reflects its commitment through developing various projects but also paves the way for innovative solutions in the sustainability sector. 

Over the past months The Hashgraph Association has announced two major venture studios one in KSA, and one in Qatar. The venture studio in KSA is aimed for deep tech development, while the one in Qatar is for digital assets.

Saudi Web3 gaming platform built on Hedera Blockchain raises $1 million

Saudi Web3 gaming platform built on Hedera Blockchain raises $1 million

Saudi Arabian Web3 Role-playing Gaming platform AstraNova incubated by The Hashgraph Association has raised $1 million in investment from lead investors that include , Oxbull, MoonEdge, Vision, Kanga, Spicy Capital, Equinox, BTS Labs, Sensei Capital and various MENA Investors from KSA, Dubai & Oman. The Hashgraph Association has provided a $100,000 grant to AstraNova through its innovation program designed to promote the development on the Hedera platform.

Co-Founder and CEO of Astra Nova, Fiazy Ahmed noted, “We are dedicated to forging an extraordinary IP and championing the gaming community of our region, in harmony with Saudi’s Vision 2030. Astra Nova is committed to emboldening Saudi gamers, catalyzing innovation, and propelling the Kingdom’s entertainment industry onto the world stage.”

AstraNova is built on the Hedera DLT platform as well as Unreal Engine 5. Incubated by both The Hashgraph Association and Gotbit, it is eyeing to position itself as the flagship game in the GCC region.

AstraNova has partnered with leading entities including the HBAR Foundation, Crpyto.com, FunToken, BTS Global, Nvidia, Microsoft Founder’s Hub, Wemix, Immutable, Aethir, Portal Coin, Blade Wallet, Kairon Labs, Tillo, and Polygon DAO.

The Astra Nova team consists of several gaming and crypto veterans with notable experience in game development, award-winning creatives, and leaders in brand marketing from companies like Ubisoft, Technicolor, Rockstar, Netflix, Hedera, and more.

Advisors from Binance, Hedera, Venture Capitals, and other prominent web3 firms support the project.

The prototype demo will be available for desktop, already accessible on the Steam Store for wishlisting, and primed for further distribution across platforms like the Epic Games Store. Their roadmap includes expansions onto consoles such as PlayStation and Xbox, while a mobile iteration is on the horizon through our strategic cloud gaming partnership with Aethir.

As per the press release AstraNova is also working on a Loyalty SocialFi Platform called ‘The Black Pass.’ a points farming platform with a competitive edge.

UAE IHC to list its $27 billion 2PointZero holding company

UAE IHC to list its $27 billion 2PointZero holding company

UAE IHC Holding company with crypto and Blockchain holding entities is seeking to list more than $27 billion worth in 2025, under 2PointZero.

The statement was made in an interview with IHC’s CEO Syed Basar Shueb on Bloomberg. He noted that the newly created holding firm 2PointZero will be going to the market sometime next year. UAE based International Holding Company (IHC), had approved the initiation of the transfer of 2PointZero, a next generation Holding Company comprising several diverse and dynamic companies, which would invest in several industries including crypto ecosystem.

IHC consolidated existing and newly created firms from Royal Group to form 2PointZero earlier this year. 2PointZero spans sectors from financial services to crypto mining. These firms include Lunate, Abu Dhabi’s newest fund, International Resources Holding, which invested more than $1 billion in Zambia’s Mopani copper mine, and private investment firm Chimera.

Citadel is a leading player in the cryptocurrency mining industry and operates a state-of-the-art crypto mining facility in Abu Dhabi, UAE. The company specializes in Bitcoin extraction and is committed to sustainable and efficient mining practices. Citadel’s strategic location in the UAE allows it to leverage the region’s advanced infrastructure. In FY22, Citadel reported a revenue of AED100 million and an asset size of AED2.7 billion. IHC recently acquired a 10% stake in Phoenix Group, which manages the ‘Citadel Project’. Citadel’s facility is recognized as the Middle East’s largest crypto-mining facility.

It was decided these companies should come into a “separate ecosystem so that when we list the business, it’ll get the significant capital injection and that will help the growth of these businesses,” the CEO said. Its valuation will be “north of 100 billion dirhams.”

IHC and Royal Group are chaired by Sheikh Tahnoon bin Zayed Al Nahyan, a brother of the United Arab Emirates’ ruler and the country’s national security adviser. 2PointZero named Mariam Almheiri, the UAE’s former minister of climate change and environment, as CEO. Sheikh Tahnoon is already linked to firms that, by weighting, make up more than two thirds of the Abu Dhabi index. 

IHC is also looking to list International Technology Holding, a combination of all information technology firms overseen by the conglomerate, and Sirius International Holding which is focused on green technology, digital transformation, and health tech. ITH is slated for this year while Sirius is likely to list in 2025.

IHC according to its CEO will be pursuing new sectors in 2024. The company will be developing the mining and energy, asset management, micro-finance and reinsurance sectors. It’s also pursuing investments in artificial intelligence. IRH, a firm folded under 2PointZero, will be the vehicle for investing in mining, focusing on copper, cobalt, tin, tungsten, tantalum and nickel. It’s having negotiations in Asia, Africa and South America, he said.

Indian Pyse utilizing Polygon Blockchain expands to UAE with EV and Solar green tokens

Indian Pyse utilizing Polygon Blockchain expands to UAE with EV and Solar green tokens

Indian headquartered Pyse which is utilizing Polygon blockchain to tokenize its green assets has announced its expansion into the UAE where it will tokenize EV and Solar projects with green tokens. Their web3 debut will feature an exciting EV leasing deal for some of Dubai’s top-tier 3PL companies.

According to Pyse press release, launching initially in India with a formidable investor community of 7,000+, Pyse has championed investments in transformative sustainability projects, including renewable energy, EVs, and water recycling. These investments have allowed individuals to offset their environmental footprints while realizing tangible financial returns.

“Many perceived green initiatives as either prohibitively expensive or purely philanthropic,” says Kaustubh, Co-Founder at Pyse. “At Pyse, we’re bridging the gap between sustainability and profitability. Historically, green assets – a sector where sovereign funds and HNIs thrived – were exclusive. We’re opening access to this market, enabling anyone to participate in a market that helps our planet and your wallet!

Pyse successfully built assets worth over $7 million, primarily for highly-regarded entities in India and now the company is setting up its operational base in Dubai, marking its maiden venture outside India and into the UAE.

As per the release this foray coincides with their expansion to web3, enabling tokenization of assets across India and the GCC, starting with the UAE. Pyse is primed to list an array of promising EV and Solar projects in prime regions like Dubai, Abu Dhabi, and Ras Al Khaimah. Their web3 debut will feature an exciting EV leasing deal for some of Dubai’s top-tier 3PL companies.

“By harnessing the latent potential of real-world asset tokenization, Pyse is leading the charge by offering greater accessibility to transparent and lucrative green investments,” said Sanket Shah, Head of Growth at Polygon Labs.” Polygon Labs has always strived toward sustainability via its environmentally conscious approach to blockchain development, which is why the Polygon protocol is already carbon-neutral and has committed to becoming carbon-negative in the foreseeable future. This is why Polygon is a perfect fit for eco-focused platforms like Pyse, and we are excited to help them power a greener future on-chain.”

The forecast for the tokenized real-world asset market is promising. Expected to catapult from US$310 billion in 2022 to a staggering US$16.1 trillion by 2030, green assets are predicted to constitute over 20% of all on-chain listings.

As Pyse charts its ambitious roadmap for the near future, the target is clear: catalyze the development of green assets worth over $40 million across the GCC and India while neutralizing an impressive 60 million tons of CO2 by 2024.

Global Blockchain Congress is back to Dubai in December 2023

Global Blockchain Congress is back to Dubai in December 2023

After a very successful first European Edition Global Blockchain Congress, Agora Group is coming back to Dubai for its 12th GBC on December 11 and 12, 2023!

The Global Blockchain Congress leverages the experience gained through the hosting of the first 11 editions of the event in Dubai and the international editions in Vietnam and the UK to ensure maximum return on investment for all our sponsors. The previous editions of the Global Blockchain Congress were a tremendous success and we were able to host 1,500+ investors and 300+ blockchain startups and were able to raise millions in funds for our participating projects

The theme of this edition is: “Will the Next Bull Market Be Different?”
Topics of the Congress:
• Land of Decentralized Milk and Honey? Why Crypto
• Companies Are Warming to the United Arab Emirates.
• Digital Assets Outlook 2024.
• Web3 Gaming and the Path to Open Metaverse.
• DeFI, CeFi and ReFi – What’s Next?
• Blockchain Marketing: Shaking Up the Game with Trending Strategies

The event is a closed-door, exclusive congress that can be attended by invitation only where the format of the event is focused on pre-arranged one-on-one meetings between projects and investors.
Agora will be hosting more than 150 Investors, 25 Projects, 60 A-list Speakers & 30 Media Partners from all over the world.

Learn more about the event: gbc-uae.com

Register here: bit.ly/12th-GBC

IOTA Blockchain for internet of things launches headquarters in UAE

IOTA Blockchain for internet of things launches headquarters in UAE

IOTA, distributed ledger built for the “Internet of Everything” , has announced that it is establishing a foundation and another headquarter in Abu Dhabi UAE, as part of their commitment to developing a digital infrastructure and innovation ecosystem in the UAE.  IOTA’s Tangle is an open, feeless and scalable distributed ledger, designed to support frictionless data and value transfer.

The IOTA foundation will  grow IOTA’s reach and importance around the globe. As per IOTA news release, the purpose of this entity is to become one of the primary organizations to foster the growth, adoption, and global expansion of IOTA.

IOTA states, “As we open up a new chapter with IOTA, we need to match technology with the right support to establish IOTA as a global ecosystem. We can only do this by operating out of the right environment. We are convinced that the UAE will offer IOTA the best environment to realize its global ambitions.”

IOTA considers the new entity in Abu Dhabi as an additional headquarter, to further decentralize the governance of IOTA.

The news adds that IOTA is to become one of the leading DLT ( distributed ledger technology) entities in the UAE. The news adds, “ Being established under the new regulatory framework, we intend to work closely with regulators, business leaders, and government entities to further advance the UAE’s global role as a leader in technology and business. This distinction highlights our dedication to embracing robust oversight and well-defined procedures to support and enhance the crypto community within the UAE and worldwide.”

According to Dominik Schiener, Chairman of the IOTA Foundation: ”From the very beginning, we have experienced a very warm welcome and unwavering support from leaders, regulators, and businesses in Abu Dhabi. I am simply amazed at how the country operates and how it is being led by visionary and open-minded leaders. This “can-do” mentality is the perfect environment for us to take IOTA to the next level. We are excited to play a role in helping to establish the UAE as a hub for technology innovations.”

One of its primary objectives of the UAE based IOTA entity will be to provide essential funding and support to the rapidly growing IOTA ecosystem. This commitment aligns with our mission to foster innovation and development within the broader DLT space.

The move doesnt come as a surprise as in May 2023, IOTA executives and UAE governmental leaders had fruitful discussions on IOTA’s role in the UAE digital strategy. 

Dubai regulated TOKO tokenization exchange partners with Virtuzone to offer blockchain enabled VC funding

Dubai regulated TOKO tokenization exchange partners with Virtuzone to offer blockchain enabled VC funding

Dubai regulated virtual asset broker and exchange TOKO FZE a creation of international law firm DLA Piper, has partnered with  Virtuzone, a pioneer in business solutions and corporate services for the region. The partnership will include the establishment of a tokenized equity crowd funding platform will further cement Dubai’s standing at the forefront of financial innovative and as a destination for early stage and fast growth companies seeking a supportive business environment.

TOKO has just received a fully operational license from Dubai’s Virtual Asset Regulatory Authority (VARA).The partnership with Virtuzone is set to transform early-stage private equity fund raising using blockchain technology to bring enhanced transparency, accessibility, and opportunity for both investors and the businesses seeking to raise funds. Across a variety of compelling businesses, investors will have greater insight, information and access to private equities for their portfolio and the expectation of greater liquidity that comes with this digital transformation.Scott Thiel, Managing Director of TOKO, says “The VARA regulatory framework has been custom designed for virtual asset transactions, providing a robust and clear route to market that is going to support the transformation of investments and facilitate financial inclusion.  We are excited to be partnering with Virtuzone in tokenising early-stage equity investments. At TOKO, we believe in improving the world and reshaping the virtual asset management landscape through cutting-edge technology, regulatory compliance, and a user-centric approach, and this partnership with Virtuzone provides a wonderful platform to achieve this”.By tokenising early equity offerings, TOKO and Virtuzone will open up access to a broader range of investors, allowing both institutional and individual investors to participate in a more accessible and transparent manner.The partnership is poised to take full advantage of VARA’s regulatory framework to drive positive change in the financial services sector. It will create a revolutionary platform for SME-sized companies, enabling them to engage in early equity fundraising with ease.Neil Petch, Chairman and Co-founder of Virtuzone, says: “Since our founding 14 years ago, our mission remains the same – to ease the way for entrepreneurs, start-ups and SMEs and equip them with all the tools they need to succeed. We are therefore thrilled to partner with TOKO, under the VARA regulatory framework, and introduce tokenised equity offerings, which we believe will make Dubai an even more attractive destination for startups and entrepreneurs seeking funding, as well as for angel investors and venture capitalists looking to be part of Dubai’s thriving business sector. Our strategic collaboration with TOKO also aligns with the UAE’s National Entrepreneurship Agenda, which aims to establish the UAE as home to 10 unicorn companies by 2031.”This partnership between TOKO and Virtuzone represents a transformative step forward in the evolution of Dubai’s innovative financial landscape. By introducing tokenised early equity fund offerings, the collaboration will not only empower businesses but also create exciting opportunities for investors.

IslamicCoin issued on Haqq Blockchain raises additional $200 million making total raised $400 million

IslamicCoin issued on Haqq Blockchain raises additional $200 million making total raised $400 million

IslamicCoin, issued by HAQQ Blockchain ( Haqq means truth in Arabic), which is Shariah compliant has raised another $200 million from Alpha Blue Ocean’s ABO Digital. As such the total funding now stands at $400 million.

The founders of Haqq Network include two prominent UAE banking experts. The network aim to cater to the world’s 1.9 billion Muslims. IslamicCoin was presented at the UN’s Cop27 in Egypt and was recognized as the Most Promising ESG Crypto at the Abu Dhabi Blockchain Awards, the Executive Team has received unwavering international support from both private investors, funds as well as the financial world.

The latest partnership will entail introducing Islamic Coin to the ABO network of investors and helping the team structure innovative Shariah-compliant financial products that could be used in the digital asset space to raise alternative funding. The deal provides for access to a maximum of $200M as and when required and ensures Islamic Coin has a long and stable runway.

“ABO Digital is thrilled to collaborate with Islamic Coin as an alternative finance provider. This ambitious project, supported by a stellar team, is revolutionizing the Shariah-compliant market by introducing digitization. We are honored to have been selected as a partner,” commented ABO Digital CEO Amine Nedjai.

The alliance comes on the heels of another major win for the team, as it signed an MOU with London based DDCAP Group, paving the way for Haqq Network integration with over 300 global Islamic banks. That partnership will see the development of a number of solutions for Islamic Finance that include a Shariah-compliant Web3 alternative to SWIFT, a digital asset platform, CBDCs, tokenization and other ventures.

“We are building a game-changing financial platform that brings together ethics and the traditions of Islamic Finance, delivering a robust solution that benefits and works together with traditional systems to significantly improve the state of the world,” commented Islamic Coin co-founder Mohammed AlKaff AlHashmi.

The Advisory Board of IslamicCoin is represented by Abu Dhabi and Dubai Ruling Families, including the grandson of UAE founder Sheikh Dr. Hazza bin Sultan bin Zayed Al Nahyan, UAE Navy Chief Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan (advising in private capacity), Sheikh Khalifa Bin Mohammed bin Khalid Al Nahyan, Sheikh Mohammad Bin Khalifa Bin Mohammad Bin Khalid Al Nahyan, His Highness Sheikh Juma bin Maktoum Al Maktoum and Her Highness Sheikha Mariam Suhail Obaid Suhail Al Maktoum. The team also boasts top names in traditional and Islamic finance. Islamic Coin’s Executive Board includes Emaar’s Hussein Al Meeza (who is also a co-founder), an award-winning banker with over 45 years of experience spanning the Islamic banking, finance, and insurance sectors, one of the key personalities involved in establishing Dubai Islamic Bank — the first fully-fledged Islamic Bank in the world. The Executive Board also includes Greg Gigliotti, CEO, Chief Investment Officer, and Founding Partner of Xtellus Advisors, a respected fund manager with experience at Goldman Sachs and other global institutions with a portfolio of over $16 Billion during his career.

Islamic Coin will be listed on exchanges soon.

UAE based DWF Labs invests $1 million in Blockchain music Korean firm

UAE based DWF Labs invests $1 million in Blockchain music Korean firm

DWF ( Digital Wave Finance) Labs a crypto investment firm, based out of UAE, has invested $1 million into LABEL Foundation, a Korean Based blockchain entity revolutionizing the music industry. 

The investment will be used to foster the development of their pioneering Dapp TRACKS and to expand their user base by bringing innovative solutions to the market. This is the third round for LABEL Foundation. Previously it raised funds from eBest Investment & Securities and Groom investments. This allowed LABEL to launch their Listen and Earn TRACKS decentralized application. 

LABEL believes that this revolutionary application has enormous prospects not just for artists but also listeners who want to contribute to the revenue flow of music and help make this sector more profitable

DWF Labs Managing Partner Andrei Grachev conveyed his enthusiasm for LABEL Foundation’s quest to promote innovation in the music business, stating “Their Listen-and-Earn TRACKS dApp is an exciting opportunity that has the potential to change the way music is created, shared, and monetized”. 

LABEL Foundation CSO Hyungsoon Choi also stated, that for them, this investment is not just about expanding their user base or bringing innovative solutions to the market, it’s perhaps about getting closer to creating a more equitable profit-sharing economy that includes permissionless IP rights application, monetization of music rights, and direct interaction between fans and artists.

DWF Labs is the multi-stage Web 3.0 investment firm. The investment firm is an affiliate of Digital Wave Finance (DWF) which has consistently maintained its position among the top 5 trading entities by volume in the crypto space thanks to its proprietary technology for high frequency trading. It has offices in Singapore, Switzerland, the UAE, Hong Kong, South Korea, and even the British Virgin Islands.