Saudi SpaceBelt awards SpaceChain for low earth orbit satellite encryption

Saudi SpaceBelt awards SpaceChain for low earth orbit satellite encryption

Saudi Arabian Space Belt Telecom Services, a privately owned entity in KSA, has awarded SpaceChain, a pioneering leader in space-as-a-service technologies, a transformative contract to spearhead the development, construction, and mission management of SpaceBelt Telecom Services’ patented technology platform, enabling the world’s first Low Earth Orbit (LEO) satellite capable of generating in-orbit encryption keys and distributing them via existing LEO constellations to ground-based equipment.

This mission is slated to be the first of a larger constellation to progress SpaceBelt’s investment in data storage and earth observation imagery. This collaboration marks a significant advancement in the Kingdom of Saudi Arabia’s in-orbit distributed transactional capabilities and showcases the nation’s commitment to driving innovation within the global space economy.

Leveraging its proven expertise in satellite technology and infrastructure development, SpaceChain will lead the end-to-end satellite construction and mission management, setting a new standard for space-based secure communication and data services.

Cliff Beek, CEO of SpaceChain, stated, “We are honored to partner with SpaceBelt Telecom Services in this transformative venture. This mission not only highlights the Kingdom’s growing role in the space sector but also demonstrates the potential of space technologies to deliver secure, scalable solutions for enterprises and governments worldwide.”

A spokesperson for SpaceBelt Telecom Services Co. KSA stated, “Partnering with SpaceChain allows us to contribute to the Kingdom’s 2030 vision. We are thrilled to bring this capability to the Kingdom, aiming to advance space-based data services and secure communications and positioning SpaceBelt Telecom Services as a leader in the evolving global space economy”

The satellite project will revolutionize secure communications, enable space-data storage, and support advanced satellite services. This contract strengthens SpaceChain’s leadership in satellite technology and mission management, reaffirming its commitment to space innovation.

This mission is the first in a planned constellation, and aims to launch in June 2025. More importantly, the mission advances Saudi Arabia’s space innovation and aligns with the Kingdom’s 2030 vision.

Leveraging its expertise, SpaceChain will lead the software design and end-to-end mission management, setting a new benchmark for space-based technologies.
In 2025, SpaceChain aims to pursue our niche market position by developing secure payment platforms within uncharted territories and transforming challenges into opportunities. The company intends to accelerate Space Commercialization: Expand payment applications across satellite networks and services to drive the adoption of decentralized fintech solutions.

In addition it will develop AI-powered applications for space data analysis, ensuring our clients stay ahead in decision-making, as well as launch education and outreach programs to inspire the next generation of innovators in blockchain and space exploration.

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.

Saudi Princess Nourah Al Faisal leads Web3 Blockchain hackathon for youth innovation

Saudi Princess Nourah Al Faisal leads Web3 Blockchain hackathon for youth innovation

Saudi Arabia recently hosted the NEXTG3N Hackathon, led by Her Royal Highness Princess Nourah Al Faisal. The event was held from January 9th until the 11th 2025 at Princess Nourah University in Riyadh. It gathered international innovators alongside Saudi talent to develop groundbreaking solutions at the crossroads of Web3 and gaming using decentralized solutions for learning environments. Selected innovations from the hackathon will be showcased at a side event during the World Economic Forum in Davos.

Her Royal Highness Princess Nourah Al Faisal, Chief Creative Director of Adhlal sponsored the event in collaboration with W3 ff Venture Builder. Adhlal brings deep expertise in empowering Saudi youth through creative ecosystems aligned with Vision 2030, while W3-ff leverages cutting-edge Web3 technologies and venture-building strategies.

The Hackathon included a track under the theme of Web3 and Identity, where participants were asked to create secure, decentralized, and personalized learning environments using Web3 technologies. The track question was “How can decentralized identities empower young learners and creatives in Saudi Arabia to securely access, develop, and share learning content?”

In an article published in Arab News, Princess Nourah was quoted as highlighting how blockchain could provide a secure space for young users fostering their engagement with digital platforms. Princess Nourah remarked on the significance of soft skills in preparing the youth for future challenges, and added: “When we think about the evolving landscape over the next few years, we must consider how to foster innovation and creativity among youth.”

The second track covered Future Skill Development. It centered on building future skills through immersive hackathon experiences.
How can we empower Saudi Arabia’s youth to develop future literacy, creative collaboration, and entrepreneurial thinking while solving real-world challenges?

While the third track covered Games to grow, where participants were asked to design engaging and innovative gaming experiences that enhance creative skillsets, promote problem-solving, and encourage design thinking. How can gaming be leveraged to accelerate the development of young designers in a fun and impactful way?

Speakers at the event included Princess Nourah; Hamad Al-Owaishiq, founder and CEO of the Saudi Youth Society; Tanja Ludwig from W3 ff Venture Builder in Germany; Dalia Samra-Rohte from the Algemeine Handels Kamer; and Xavier Prost from Veridos UAE, one of the event’s sponsors.

42.000,- SAR in prizes were distributed to winning the teams.

Animoca Brands moves to next stage with Saudi Neom

Animoca Brands moves to next stage with Saudi Neom

 In 2024, Animoca Brands and Saudi Arabian NEOM Investment Fund signs a strategic partnership that included a $50 million convertible notes financing from NEOM into Animoca, today Animoca Brands announce that the next step of the partnership is fast approaching and it includes building a solid web3 infrastructure using innovative technologies.

In the 2024 announcement, as part of the partnership, Animoca Brands would work with NEOM to build Web3 enterprise service capabilities which would be deployed to support technology advancements in Riyadh and the NEOM region.

As per the news at the time, these projects would include a range of Web3 initiatives, including plans to establish a hub within NEOM to nurture the local Web3 ecosystem and bring in extensive capabilities from across Animoca Brands and its subsidiaries, partners, and broad portfolio of investments.

In a recent Linkedin post, Animoca Brands noted that they continue to support NEOM and its commitment to driving regional web3 development.

In 2024, Animoca Brands facilitated the Web3 development of NEOM with dedicated Web3 strategy workshops, and the networking conference “Outer Edge Riyadh” in KSA.

In 20205 the next phase starts which will include building the Web3 infrastructure.

As per the LinkedIn post which quoted Yat Siu as saying, “NEOM is the world’s most ambitious project seeking to use innovation and technology to redefine how we live, work, and play.”

Animoca Brands has invested in startups in KSA including Saudi’s first NFT marketplace platform, Nuqtah.

Circle of Games has launched in MENA out of UAE

Circle of Games has launched in MENA out of UAE

Circle of Games (COG), the blockchain enabled Web3 global multi-gaming platform backed by Nazara, has launched in the MENA region at the renowned Global Game Show held at the Grand Hyatt Exhibition Centre in Dubai.

The launch event drew an audience of industry pioneers, gamers, and Web3 enthusiasts, with Yat Siu, Chairman of Animoca Brands, as the distinguished chief guest. His keynote address celebrated COG’s innovative integration of casual gaming with blockchain technology, positioning it as a leader in the Web3 gaming ecosystem.

The event highlighted COG’s robust portfolio of games, including globally popular titles like Ludo, Fruit Slash, Bubble Shooter, Chess, and 8-Ball Pool. With six games already live and an ambitious roadmap to surpass ten titles by Q1 2025, COG is set to become the preferred destination for casual gamers worldwide.

The launch underscored COG’s strategic collaborations with key global corporations and leading strategic partners. These alliances offer access to over 500 million users across 50+ countries, strengthening the company’s competitive edge. By drawing users from an established ecosystem, COG is accelerating its growth and establishing a foundation for long-term success.

Attendees witnessed live demonstrations of COG’s state-of-the-art features, including seamless user experiences, multi-chain integrations, and engaging game mechanics. With over 500,000 registered users so far and ambitious goals to reach 25 million users by the end of 2025 and 100 million users by the end of 2027 worldwide, COG is reshaping the future of casual gaming in the Web3 era.

“Today marks a significant milestone for Circle of Games as we expand into the MENA region. With our robust ecosystem, strategic partnerships, and an experienced team, we are committed to delivering an unparalleled gaming experience for users worldwide,” said Rabilal Thapa, CEO/Co-Founder of Circle of Games, during the event.

Circle of Games, funded by Nazara, has outlined an ambitious regional expansion strategy, with launches slated for the UAE in Q4 2024, followed by Saudi Arabia, Kuwait, and Bahrain in Q1 2025, and Turkey, Egypt, and Morocco in Q2 2025. With projections to achieve 7.5 million users by 2025, 18 million by 2026, and 25 million by 2027, COG is poised to dominate the Web3 gaming landscape in the region.

Circle of Games receives investments from THA and Nazara

In April of 2024, Circle of Games (COG), raised $1 million in equity funding from strategic investors Nazara Technologies FZ LLC, (a wholly-owned subsidiary of the Nazara Technologies Limited) and The Hashgraph Association, the Swiss-based organization at the forefront of global digital enablement for Hedera.

At the time, COG noted that it intended to use this funding to fast-track its go-to-market strategy, improve platform capabilities, and widen its international presence in the US, EU, Middle East, Africa, and Asia in 2024.

COG has implemented multi-chain technology, with Hedera being the primary mainnet where the majority of on-chain transactions occur, and is empowering players with full ownership and control over their in-game assets and tokens.

Gaming in MENA region

Gaming in the MENA region and especially in the UAE has become a big market. According to recent reports, the gaming market value in the MENA region is expected to reach $10 billion by 2027. This surge is driven by the growing number of gamers and the rising popularity of mobile games.

Saudi Arabia is more than just participating in the global gaming arena. As the 19th largest gaming market in the world, with 89% of its population engaged in gaming, including 42% women and 45% aged 21-35—the kingdom is redefining what it means to be a player in this dominating entertainment frontier.

Aligned with Vision 2030, Saudi Arabia aims to develop 30 competitive games and establish itself as a global gaming hub by 2030. The kingdom is backing this ambition with a bold $38 billion investment from the Public Investment Fund (PIF)’s Savvy Games Group, which is focused on acquiring publishers and nurturing local talent.

UAE is also becoming a fast mover by embracing the developing blockchain gaming sector. After a brief period of decline due to innovative and regulatory challenges, Web3 gaming has seen a revival in user engagement this year. In the third quarter, the sector reached 4.4 million daily active wallets. In the same period, blockchain games attracted more than $110 million in funding.

The UAE has positioned itself as a global leader in driving the blockchain gaming sector. Proactive policies and strategic investments are transforming the country into a central hub for Web3 gaming projects. The sector is expected to hit $1 billion in the UAE alone by 2025.

Recently The Beam Foundation launched Beam Ventures in Abu Dhabi, the first venture fund focused exclusively on Web3 gaming from ADGM. The $150 million gaming fund aims to accelerate promising founders and contribute to Abu Dhabi’s transformation into a global gaming hub.

Saudi Arabian entrepeneur patents DeFi protocol, Quintes

Saudi Arabian entrepeneur patents DeFi protocol, Quintes

A Saudi woman entrepreneur Ran Al Kharashi, has patented the Quintes Protocol a decentralized finance (DeFi) protocol with its innovative no-depreciation cryptocurrency model.

The Quintes Protocol is protected by a newly-secured Patent Cooperation Treaty (PCT) PCT/IB2024/061188 from the World Intellectual Property Organization (WIPO). This groundbreaking protocol offers a unique approach to perpetual asset growth, ensuring long-term value stability and positioning itself as a global disruptive force in the evolving cryptocurrency market.

Rand Al Kharashi aims to redefine the world of DeFi. By securing a WIPO PCT for the proprietary technology behind Quintes Protocol, she has reaffirmed her mission to upend the cryptocurrency market with the world’s first perpetually appreciating asset, which is expected to increase in price at an annual rate of 18-30%.

“This is more than a milestone for Quintes Protocol – it’s an affirmation that exceptional and continued value can be created in the crypto field,” said Al Kharashi. “Quintes is the world’s first crypto asset that is engineered for continued high price growth. Backed intensive research, verifications, and the knowledge of renowned token engineers and researchers from leading blockchain companies, Quintes has just one destination: to pioneer the future of DeFi with unmatched growth, blazing the way for an exciting new world of cryptocurrency value.”

The Quintes Protocol is poised to disrupt the market with its unprecedented cryptonomics. This protocol aims to outperform established asset classes, including S&P 500 equities, gold, high-yield fixed income, and many cryptocurrencies, including Ethereum and Bitcoin, unlocking massive market opportunities and setting new benchmarks for financial performance and growth.

Quintes introduces QNT, the first token designed to achieve a secure price appreciation of 18-30% per year through utilizing its unique over-collateralization strategy, novel cryptonomics mechanisms and AI-driven high-frequency trading to deliver unparalleled scalability and sustainability.

According to Al Kharashi: “We’ve seen the potential for cryptocurrencies to achieve great returns for investors, but that growth is fickle. Growth bubbles occur, burst suddenly and unexpectedly, and the value is often lost. It may be possible for an asset to rebuild to match or even exceed its previous high, but there’s always an element of risk. The value of existing crypto, and even more traditional investment assets, is never guaranteed. That is what inspired the creation of Quintes and the concept of perpetual growth, based on predictable collateral value appreciation.”

The decision to file for a WIPO PCT patent underscores Al Kharashi’s commitment to protecting Quintes’ pioneering engineering on a global scale. This strategic move ensures that Quintes’ innovative protocol is safeguarded as it seeks patent protection in numerous countries, providing a robust foundation for its international expansion, future success and eventual preparation to become open source.

The development and engineering of Quintes Protocol is grounded in rigorous research conducted by Kitabq Research Lab, which was founded by Al Kharashi. Over two years, Kitabq’s cryptonomics research has been instrumental in shaping Quintes’ architecture and mechanisms.

Quintes’ technical team is a powerhouse of talent, featuring elite token engineers and data scientists from industry giants like ConsenSys, Binance, Algorand, and Morgan Stanley. Collectively, this team has raised over $600 million in capital and achieved successful exits in both Web3 and Web2 domains.

Scheduled for an official launch in January 2025, the Quintes Protocol represents an exciting opportunity for investors and stakeholders eager to be part of the new future of DeFi. A recent simulation test revealed Quintes’ positive performance even in bearish market conditions, highlighting its resilience and potential. As Quintes gears up for its groundbreaking debut, the team is actively seeking investment to drive its vision forward.

Naver partners with Saudi’s NHC for digital twin platform

Naver partners with Saudi’s NHC for digital twin platform

NAVER, South Kore’s largest internet company with investment in Blockchain, is to establish a joint venture with Saudi Arabia’s National Housing Company (NHC), a state-owned company under the Ministry of Municipalities and Housing. The JV will serve as NAVER’s business unit for the Saudi Arabia region, along with NAVER Arabia (tentative name) which will oversee the company’s business in the MENA region.

The JV will operate under NAVER Arabia (tentative name), with the operation and commercialization of the digital twin platform in Saudi Arabia as its core business along with NHC. The JV will also be TEAM NAVER’s first business entity for its technology platform business in the Middle East.

NHC, a key partner of TEAM NAVER in Saudi Arabia, is a state-owned company under the Saudi Arabian Ministry of Municipalities and Housing that is responsible for 70% of real estate transactions in the country. As part of Saudi Arabia’s “Vision 2030” initiative, the company is currently focused on digital transformation such as digital innovation in the real estate sector and smart city development.

Since its establishment in 2016, NHC has been in charge of over 380 projects for real estate development projects including public housing provision, and the value of its real estate portfolio is expected to exceed 60 billion USD (80 trillion KRW) as of the end of 2025. The company has also been selected as the largest real estate developer in the Gulf Cooperation Council (GCC) by the Construction Week Middle East in 2024.

TEAM NAVER and NHC will operate and commercialize the digital twin platform in Saudi Arabia through the JV, while also developing other businesses such as a public monitoring platform for urban areas and a map-enabled super app for public administration.

“TEAM NAVER’s global competitiveness in technology and business has been recognized by various ministries and organizations in Saudi Arabia, and we are excited to further discover business opportunities with different partners in the region,” said Chae Seon-ju, President of ESG and External Affairs at NAVER.

In April 2024 two blockchain platforms, Klaytn backed by Kakao, and UAE based Finschia backed by Naver an affiliate UAE based LINE Tech Plus merged to create a new unified blockchain platform Kaia, which means “and” in Greek, with a market capitalization of $1 billion.

Kakao, the internet giant behind Korea’s most popular messaging app, operates Klaytn, the country’s largest native blockchain network with a market cap of $671 million. It targets enterprise users with a modular network architecture that enables them to build service chains atop its mainnet.

While Naver, South Korea’s leading search engine, is behind Finschia, a blockchain network developed by its Japanese subsidiary, Line. It operates one of Asia’s largest non-fungible token (NFT) marketplaces.

In August 2024, Naver was set to launch its first digital asset wallet, Naver Pay Wallet, for the Korean market. It partnered with Chiliz, a blockchain provider for sports and entertainment, as the inaugural blockchain for the wallet.

Saudi Web3 blockchain fund invests in Tharawat Green Exchange

Saudi Web3 blockchain fund invests in Tharawat Green Exchange

Adaverse, Cardano Web3 and blockchain fund in Saudi Arabia, has invested in KSA based Blockchain enabled TGE (Tharawat Green Exchange), a startup leveraging Web3 technology to support environmental sustainability initiatives in line with Saudi Vision 2030.

TGE is working on carbon offsetting in Saudi Arabia, connecting carbon offsetters with local nurseries and land projects via a blockchain-enabled platform. This innovative model supports Saudi Arabia’s goal of planting 10 billion trees by 2040, while also promoting economic growth and environmental health.

Unlike global providers that invest in projects abroad, TGE is fully localized, focusing solely on Saudi-based projects to build the local environmental ecosystem. The business model involves three key stakeholders: projects requiring trees, nurseries supplying them, and offsetters funding the planting to meet their carbon goals.

The investment, totaling 1.69 million SAR, ( $450,000) will be used primarily for infrastructure and blockchain development, sales and marketing efforts, and obtaining Vera certification for TGE’s carbon credits. This certification will ensure that TGE’s carbon crypto is recognized and valued in the global market.

Vincent Li, Founding Partner of Adaverse, commented, “Our investment in TGE aligns perfectly with our mission to foster innovative Web3 solutions that address real-world challenges. TGE’s approach to combining blockchain technology with environmental sustainability has the potential to transform how we approach carbon offsetting and tree planting initiatives in the region.”

Yakeen Al Zaki, CEO and Co-founder of TGE, stated, “With Adaverse’s support, we are poised to make a significant impact on Saudi Arabia’s sustainability goals. Our platform simplifies the process of contributing to environmental initiatives, making it accessible for anyone to participate in building a greener future.”

Tharawat Green Exchange is targeting a $500+ billion market, with plans to expand globally, eyeing a $1 trillion annual market expected to grow by 6% year over year. Looking ahead, TGE aims to raise an additional 1.5 million SAR to further product development, technology infrastructure and market penetration.

This is not the first investment Adaverse has made in startups in Saudi Arabia. Recently it invested half a million dollars ($500,000) as a pre-seed investment in Saudi loyalty platform, Mithu, a platform aggregator for restaurants and cafes in Saudi Arabia. Mithu aims to solve a critical problem in the loyalty program market, where customers struggle to manage multiple loyalty programs and billions of dollars worth of points expire annually.

Aurum Equity Partners $1 billion tokenized fund to invest in datacenters in UAE and KSA

Aurum Equity Partners $1 billion tokenized fund to invest in datacenters in UAE and KSA

Aurum Equity Partners, a private equity firm, has launched a combined equity and debt tokenized $1B fund, utilizing Zoniqx’s asset real world tokenization solutions and leveraging XRP Ledger (XRPL) Blockchain, for datacenter investments in United States, UAE, KSA, India and Europe.

Zoniqx (“Zoh-nicks”) is a global fintech leader based in Silicon Valley, specializing in converting real-world assets into Security Tokens. Their compliant infrastructure enables tokenization across public, private, and hybrid blockchains, driving global liquidity and DeFi integration.

As per the press release, this initiative will harness Zoniqx’s cutting-edge Tokenized Asset Lifecycle Management (TALM) solution and the Dynamic Compliant Interoperable Security Token (DyCIST) protocol to transform Aurum Equity Partners’ assets into tokenized financial instruments. This development marks a significant step forward in integrating blockchain technology with traditional financial markets.

Key Highlights:

  1. Innovative Tokenization: Zoniqx will enable Aurum Equity Partners to launch the world’s first combined equity and debt tokenized fund, leveraging the XRPL to provide investors with greater flexibility and diversification.
  2. Global Data Centers: The initiative will establish cutting-edge data centers across the United States, United Arab Emirates, Kingdom of Saudi Arabia, India, and Europe, showcasing the scalability and global reach of tokenization technology.
  3. Enhanced Liquidity: Utilizing Zoniqx’s TALM framework, the trading of tokenized assets on secondary markets will be more efficient and accessible, offering investors improved liquidity options.
  4. Compliance and Security: The DyCIST protocol, combined with the XRPL’s built-in safety compliance features, ensures all tokenized assets adhere to global regulatory standards, including AML and KYC protocols, providing secure and compliant transactions.
  5. Interoperability: The initiative will facilitate seamless integration across multiple blockchain networks, offering flexibility and accessibility for a wide range of investors and financial institutions.

“We are excited to work with Zoniqx to bring this groundbreaking project to life,” said Venkat Bussa, CEO and Chairman, General Partner at Aurum Equity Partners. “This development aligns with our commitment to leveraging cutting-edge technology to enhance liquidity, transparency, and overall investment efficiency for our investors.”

Prasanth Kalangi, Founder and CEO of Zoniqx, added, “Working with Aurum Equity Partners on this innovative project is a significant milestone in our mission to advance asset tokenization. Our technology is designed to meet the evolving needs of the financial industry, and we are excited to demonstrate its potential in the private equity space.”

David Schwartz, CTO of Ripple and Co-creator of the XRP Ledger, added “Tokenizing private equity is another emerging use case in RWA, tackling the challenges of illiquidity and limited access in these markets. By using XRPL’s ability to process transactions efficiently and securely, Aurum and Zoniqx are showing how real-world assets can be managed more effectively harnessing a decentralized blockchain.”

During Gitex Aurum Equity Partners and DEWA signed an agreement for edge infrastructure developments.

Saudi based Digital Cooperation Organization launches Digital Economy Navigator

Saudi based Digital Cooperation Organization launches Digital Economy Navigator

The Saudi headquartered Digital Cooperation Organization (DCO), a global multilateral organization committed to enabling digital prosperity for all by accelerating the inclusive growth of the digital economy, has launched its inaugural Digital Economy Navigator (DEN) that enables countries to better navigate the paths to digital economy maturity, find opportunities for growth, benchmark progress, and bridge the gap in digital economy maturity.

The DEN was unveiled at the SDG Digital 2024, held during the 79th Session of the United Nations General Assembly in New York, from September 10 to September 27.

Drawing upon officially disseminated statistics, secondary data, and unique proprietary data from a Digital Cooperation Organization large survey, the DEN is a unifying framework that addresses digital economy maturity across 50 countries, including the DCO Member States. The framework provides a platform for nations, stakeholders, and decision-makers to harmonize efforts in advancing the global digital economy, enabling accessibility, sustainability, and shared prosperity across borders.

The Navigator evaluates the extent to which the factors contribute to economic prosperity, sustainability, and enhanced quality of life for people. This provides a common understanding for different stakeholder groups to work together in developing digital economy strategies to bridge gaps and allows for progress to be tracked over time.

Deemah AlYahya, Secretary-General of the DCO, said: “The Digital Economy Navigator aims to enhance accessibility, sustainability, and economic prosperity, ensuring that countries are not just keeping pace but leading in the digital era. As the first global framework to comprehensively address digital economy maturity from a user-centric perspective, DEN plays a pivotal role in advancing the Digital Cooperation Organization’s mission of supporting evidence-based policies and impactful outcomes in the digital economy. By providing reliable and detailed data, insights into current trends and emerging technologies, and strategic foresight into future challenges, DEN equips countries to achieve higher levels of prosperity, inclusion, and sustainability. We at the Digital Cooperation Organization are committed to empowering stakeholders with the knowledge they need to navigate and thrive in the ever-evolving digital landscape”.

Uniquely among global tools, the DEN assesses the digital economy through the lens of three intersecting dimensions: Digital Enablers, Digital Business, and Digital Society. Within the three dimensions, 10 pillars synthesize and summarize key aspects of countries’ digital economy and use of digital technology application from 102 indicators gathered from respected secondary data sources, as well as primary data from a novel survey of more than 27,000 people across the 50 countries.

The DEN introduces a comprehensive maturity classification system with five categories based on pillars’ scores from 0 to 100, that can be used by stakeholders to better target and focus initiatives to drive digital advancement and innovation in their quest for sustainable and inclusive growth of their digital economy.

The DEN reveals a diverse picture of maturity across regions. North America for example leads in digital innovation, followed by ‘Europe and Central Asia’ and ‘East Asia and Pacific’. South Asia leads in digital work and training, followed by the Middle East and North Africa region. The ‘Sub-Saharan Africa’ and ‘Latin America and the Caribbean’ regions are advanced in the Digital education and health services. This pillar particularly “Digital for education and health” demonstrate substantial global maturity, with moderate variability in scores indicating a trend toward global convergence.

As per the report, The Middle East and North Africa has strengths in the Digital for Work and Training pillar, where it is the second strongest region, as well as in the Digital for Health and Education pillar. The DEN results suggest room for improvement in business use and adoption of digital technologies, with the ICT Core Business and Digital Innovation pillars classed as nascent.

Audiences can access the DEN report, infographic, methodology, and data in Excel format by visiting the DEN online platform at .

The report provides an in-depth analysis of digital economy maturity from multiple perspectives. Additionally, users have the option to download the report for offline access.

The DEN will continue to evolve over time to capture the rapidly changing nature of the digital economy. While DEN’s overall objective will remain in future editions, technologies and applications will evolve and be measured by how they contribute to the digital economy.