KSA based Tokenizerly, a Blockchain enabled fintech startup in asset tokenization, has partnered with Funding Turkey, a leader in real estate marketing and development to revolutionize the fund and real estate market through blockchain technology. As per the agreement tokenizerly will integrate its advance tokenization platform with Funding Turkey’s extensive real estate portfolio, creating a new paradigm in property investment and ownership.

As per the press release, Tokenizerly will provide its state-of-the-art tokenization technology and technical expertise to tokenize Funding Turkey’s fund and real estate assets.

Both parties will work to obtain the necessary licenses for issuing security tokens for funding real estate units not only in Turkey but across Funding Turkey’s global operations.

Haiyan Alsaiyed stated, “We are thrilled to partner with Funding Turkey, a company that shares our vision for innovation in real estate investment. Our technology will enable investors to engage with fund and real estate like never before, making investments more fractional, accessible, and efficient.”

Serkan Topktas remarked, “This partnership with Tokenizerly marks a significant milestone in our mission to embrace emerging technologies. By tokenizing our assets, we’re not just transforming the way people invest in fund and real estate but also ensuring a more secure and accessible market for investors worldwide.”

This is the second partnership Tokenizerly signs within the month of May. The first was with ParisAline, a global leader in invisible orthodontic treatments. The collaboration aims to revolutionize funding mechanisms in the healthcare sector through the use of advanced blockchain technologies.

Singaporean Blockchain venture fund and Cardano accelerator, Adaverse, with offices in KSA, UAE, has strategically invested in Sorbet, a Saudi Arabian startup geared towards helping freelancers to manage and transact with clients. Sorbet uses Circle Payment services, better known as stablecoin USDC to help clients and freelancers carry out instant payments.

The investment, part of a $10 million initiative to foster venture-building in the region, aligns with the economic upswing projected for the region’s digital economy.

The MENA digital freelance market is currently values at $4 billion and while expected to grow it faces inefficient payments systems which according to the press release affects 40 million self employed workers.

Sorbet’s vision is to onboard all creatives onto web3 by removing the technical barriers traditionally associated with dApps. The tool leverages blockchain technology to provide a seamless payment solution using stablecoins.

Rami Djebari, co-founder of Sorbet, expressed enthusiasm about the partnership: “Receiving support from an experienced partner like Adaverse will accelerate our development and enhance our market strategy. This collaboration is a milestone in breaking down financial barriers and enabling limitless growth opportunities for professionals in the region.”

Sorbet Beta will further refine the freelancing experience by integrating project management tools and streamlined payment processes. As per Sorbet website, it charges 2.5% when clients send money to freelancers.

Vincent Li, founding partner at Adaverse, commented on the investment stating, “Sorbet exemplifies the potential of blockchain to enrich and enhance economic systems. We are excited about the potential Sorbet holds for economic upliftment in line with Saudi Vision 2030.”

The Sorbet Beta, launching this May, will introduce essential features to improve the freelancing experience. This suite of work tools will focus on streamlining project management, simplifying payment processes, and facilitating better client interactions, all designed to help freelancers transition smoothly into a more connected and efficient digital workspace.

In March 2024, Adaverse, signed an MOU with Saudi based ASFA Ventures to drive Web3 innovation in KSA and beyond. Adaverse has also invested in Saudi Arabian Blockchain Insurtech startup TAKADAO, in addition to Nuqtah NFT marketplace.

ParisAline, a global leader in invisible orthodontic treatments, has partnered with Saudi Arabian tech startup, Tokenizerly. As per the press release the collaboration aims to revolutionize funding mechanisms in the healthcare sector through the use of advanced blockchain technologies.

Tokenizerly is a Saudi-based technology startup leading the way in innovative funding solutions using blockchain. Its platform offers comprehensive tools for asset tokenization, providing unprecedented advantages in terms of reach, efficiency, and transparency.

The agreement involves deploying Tokenizerly’s specialized tokenization technologies to enhance funding solutions across ParisAline and its associated group of promising medical companies. These include operations in hospitals, medical device manufacturing, medical tourism, as well as laboratories and educational institutions, operating on a global scale.

The Blockchain enabled Tokenizerly platform will allow ParisAline and its sister companies to raise capital efficiently by tokenizing their assets making the alternative investment in healthcare affordable, accessible, and tradable. This method offers a myriad of benefits which includes global Reach through access to a wider and more diversified investor base. It also offers efficiency & cost reduction, with quicker settlements and lower costs related to operations and intermediation.

In addition the platform provides simplified liquidity: and a secure and tamper-proof record of ownership that promotes integrity and availability to the public.

The CEO of ParisAline, Dr. Ahnaf Aljajah, expressed enthusiasm about the partnership, stating, “This collaboration with Tokenizerly marks a significant milestone in our journey to integrate more innovative and efficient funding solutions within the healthcare industry. By leveraging blockchain technology, we are setting new standards for investment and operational efficiency.”

Haiyan Alsaiyed, Founder and CEO of Tokenizerly, added, “We are thrilled to partner with ParisAline and its sister companies. This is a unique opportunity to bring our robust financial technology solutions to a sector that impacts lives globally. Our platform is designed to transform how companies secure funding and manage their assets.”

This agreement comes as the Saudi government works to support tech development in the Kingdom. Recently The Hashgraph Association (THA), the Swiss-based organization at the forefront of global Blockchain digital enablement, signed a strategic partnership with the Ministry of Investment of Saudi Arabia (MISA) to launch a “DeepTech Venture Studio” in Riyadh worth $250M USD over five years (2024-2028).

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.

Saudi Arabian, stc pay, has received approval from the Saudi Central Bank to proceed with its transformation into STC Bank. This beta launch will enable selected users to upgrade their accounts from an stc pay digital wallet into an STC Bank account. They will also be provided an International Bank Account Number and additional banking services, according to a statement.

With the upgrade, the subsidiary of stc Group will provide Shariah-compliant banking services and financial solutions while ensuring the utmost security and customer protection through cutting-edge financial technologies.

This move aligns with the KSA’s broader fintech strategy and the goal of establishing the country as a global hub for financial technology and innovation. The digital wallet’s transition into STC Bank will be a significant addition to the Saudi banking sector.

The statement said that this beta launch is limited to preselected customers and is a preparation for a full public launch later this year.  

This aligns with the objectives of the Financial Sector Development Program, as retail consumer e-payments serve as a significant key performance indicator within the plan.    

Earlier this year, the General Manager of Binance in KSA noted that the KSA could be close to issuing crypto regulations. The move by STC Pay to become STC Bank and the recent moves by STC Bahrain into the blockchain and crypto arena is interesting to say the least.

Stc Bahrain, the Saudi Telecom subsidiary in Bahrain, has once again showcased how the telecom industry can embrace Blockchain,Web3 and now DeFi with stc Bahrain operating nodes on Core Chain Bitcoin Layer 1 blockchain. Stc Bahrain has partnered with Core Chain DAO as part of its Web3 launchpad initiative.

As part of stc Pearling Path Partnership Program, a Web3 launchpad in MENA, stc Bahrain will deploy and operate nodes on the Core Chain network, bolstering its resilience as a key infrastructure provider in the Gulf.

As per the press release, this initiative underscores stc Bahrain’s commitment to digital transformation and Core’s mission to promote global blockchain adoption.

“By incorporating Core Chain into our Pearling Path initiative, we’re not just adopting a blockchain protocol; we’re laying the groundwork for scalable innovation for the future. This is a significant step towards building a cohesive Web3 ecosystem in the Gulf,” said Mr. Saad Odeh , Chief Wholesale Officer at stc Bahrain.

Core Chain’s commitment to privacy, scalability, and its Satoshi Plus consensus mechanism align with stc Bahrain’s vision to foster economic growth in the region. By integrating the strengths of Proof of Work (PoW) and Delegated Proof of Stake (DPoS), Core Chain is able to create a blockchain environment that is not only secure and decentralized but also highly scalable to meet the evolving demands of the digital landscape.

Recently Core Chain launched Core Ignition is a carefully designed six-month incentive program launched on March 11, 2024, aimed at rewarding the Core community for their contributions to the network.

As per their announcement, the world of Decentralized Finance (DeFi) is constantly evolving, and the concept of BTCfi (Bitcoin DeFi) is at the forefront of this innovation.

In March 2024 Stc Bahrain, announced that it will be offering Web3 infrastructure services using blockchain in partnership with LionsCraft for the Bahrain market. Lionscraft provides cutting-edge technology and business consulting in the thriving Web3 space.

In 2022 stc Bahrain also became the first telecom operator in Bahrain to accept cryptocurrencies through its partnership with Eazy Financial Services, a leading Bahraini Payment Services provider specializing in POS and online payment gateway. EazyPay uses BinancePay and wallet to offer this service to more than 5000 POS terminals in Bahrain.

Saudi Arabia gets a new Web3 deep tech accelerator through its recent partnership with Outlier Ventures. The Saudi National Technology Development Program (NTDP) and Outlier Ventures announced a new accelerator program in the MENA region, which marks the inception of the first deep tech web3 accelerator program in Riyadh. The accelerator will kick off later in 2024.

The MOU ( Memorandum of Understanding) aims to catalyze the growth of Web3 ecosystem Kingdom, aligning with Saudi Arabia’s Vision 2030 for technological and economic diversification.

The initiative seeks to nurture the most promising web3 startups within KSA, providing them with access to Outlier Ventures’ extensive expertise on critical aspects such as product development, entity structuring, and token design.

Startups selected for this accelerator program will benefit from mentorship by leading figures in the web3 domain and potential investment opportunities, a crucial step towards establishing a robust infrastructure for technological innovation in Saudi Arabia.

Outlier Ventures has developed partnerships with over 300 startups worldwide.

Stephan Apel, Outlier Ventures CEO and Founding Partner, noted, “We are honoured to partner with the National Technology Development Program (NTDP) of the Kingdom of Saudi Arabia. Under Vision 2030, the rapid pace of change and development is visible across all sectors of the economy. The achievements are testimony to the level of dedication and focus driving the Kingdom forward. Our strategic collaboration underscores our joint dedication to nurturing technological progress. We are looking forward to bringing our 10 years’ experience, in-house world-class expertise and track record of helping Web3 startups develop, to help build out the Web3 ecosystem in Saudi Arabia, providing support to early-stage entrepreneurs.”

While Mr. Ibrahim Neyaz, the CEO of the NTDP added, “We are thrilled to partner with Outlier Ventures to achieve the goals of this partnership by working together to support the ecosystem of technology startups in Saudi Arabia. This partnership reinforces our commitment to advancing technology and fostering innovation in Saudi Arabia. By harnessing their extensive global expertise and advanced capabilities in the Web3 industry, Outlier Ventures will bring tangible value and make significant contributions to enhancing the Kingdom’s technological infrastructure. This, in turn, will facilitate technological growth and innovation across various sectors. We eagerly anticipate achieving mutual success and cultivating a robust relationship that benefits all parties involved.”

Prior to this announcement, The Hashgraph Association (THA) launched a $250 million DeepTech Venture Studio in Riyadh. The proposed venture studio is dedicated to nurturing innovation in deep technology sectors such as AI, DLT, robotics, IoT, VR, and quantum computing.

Once again Saudi Arabia has not been allowed to invest in an AI entity out of the United States. This time the company is Anthropic partly owned by the fallen FTX crypto exchange. As per CNBC, while sovereign wealth funds are among the investors eyeing to buy into Anthropic, including UAE Mubadala, Saudi Arabia is not one of them.

Anthropic according to sources speaking to CNBC, has ruled out taking money from investors or sovereign wealth fund in KSA. Anthropic executives cited national security, one of the sources told CNBC.

The stake in Anthropic is for sale because it belongs to FTX, the failed cryptocurrency exchange started by Sam Bankman-Fried, and is being unloaded as part of the company’s bankruptcy proceedings. FTX bought the shares three years ago for $500 million. The 8% stake is now worth more than $1 billion due to the recent boom in AI.

As per the article proceeds from the sale will be used to repay FTX customers. The transaction is ongoing and is on track to wrap up in the next couple weeks, said people with knowledge of the talks who asked not to be named because the negotiations are private.

The class B shares, which don’t come with voting rights, are being sold at Anthropic’s last valuation of $18.4 billion, sources said. Anthropic has raised roughly $7 billion in the last few years from tech giants like Amazon, Alphabet and Salesforce

While Anthropic’s founders told bankers they wouldn’t accept Saudi money, they don’t plan to challenge funding from other sovereign wealth funds, including United Arab Emirates fund Mubadala. The UAE-based firm is actively looking at investing, according to one of the sources.

In November 2023, The Biden administration forced a Saudi Aramco-backed venture capital firm to sell its shares in a Silicon Valley AI chip startup backed by OpenAI co-founder Sam Altman, as per Bloomberg

Altman-backed Rain Neuromorphics, a startup designing chips that mimic the way the brain works and aims to serve companies using artificial intelligence algorithms, raised $25 million in 2022.

Aramco’s Prosperity7, a lead investor in the $25 million round for Rain AI, sold its shares in the startup after a review by the Committee on Foreign Investment in the United States, people familiar with the matter said, according to the Bloomberg report.

The agency, a U.S. watchdog for deals with national security implications, told the Saudi fund to unwind that deal sometime over the past year, the report said.

This comes as Saudi Arabia plans to create a fund of about $40 billion to invest in artificial intelligence. In recent weeks, representatives of Saudi Arabia’s Public Investment Fund have discussed a potential partnership with Andreessen Horowitz, one of Silicon Valley’s top venture capital firms.

CASHIN Saudi Arabia, a POS and digital payments fintech provider and UAE based Fils, a blockchain enabled empowering climate-positive transactions, have partnered to empower CASHIN KSA’s extensive network of merchants across the kingdom, comprising a significant share of the market, to integrate Fils’s blockchain enabled enterprise-grade payments platform. Through this collaboration, merchants will gain the ability to accurately track their environmental impact, mitigate their carbon footprint with high-quality carbon credits, and transparently report their progress.

This partnership represents a significant milestone for Fils, which, following its successful ventures with other market leaders in the region, is now expanding its footprint in Saudi Arabia. By leveraging CASHIN KSA’s extensive market reach and established presence, Fils is primed to accelerate its growth trajectory and advance its mission of embedding climate positivity into every transaction.

“Our collaboration with CASHIN KSA underscores our commitment to advancing sustainability in the financial sector and aligns perfectly with our mission to empower businesses to embed climate action into their operations,” said Nameer Khan, CEO of Fils. “Together, we are not only driving positive environmental change but also supporting the climate goals of the Kingdom of Saudi Arabia, contributing to a greener and more sustainable future.”

According to Omar AlRammah, CEO of CASHIN KSA, this partnership exemplifies the company’s dedication to sustainability and innovation: “Our collaboration with Fils marks a significant step forward in our journey towards a more sustainable future. By integrating Fils’s cutting-edge technology into our payments infrastructure, we are advancing our commitment to environmental responsibility and paving the way for a greener financial ecosystem.”

Saudi Arabia will be hosting a Web3 Blockchain event called “Outer Edge”. The event will be held in partnership with Animoca Brands, the Blockchain gaming open metaverse company, and King Abdulaziz City for Science and Technology (KAUST), the national labs of the Kingdom. The event will be held on April 23 2024. Outer Edge Riyadh  event is set to bring together some of the biggest names in the blockchain, AI, and gaming ecosystems from all over the world to Riyadh, Saudi Arabia.

Outer Edge, historically based in LA and now expanding to the Middle East, is known for hosting memorable events and presenting invaluable networking opportunities for founders, builders, and venture capitalists in emerging technologies.

The Saudi Arabia tech revolution has already made major strides in developing various industries as the country builds a solid ecosystem for digital entrepreneurship. Saudi Arabia is focusing on enhancing its technology sector in line with the Saudi Vision 2030 plan, as businesses continue to invest in new tech such as AI, blockchain, VR, AR, and the Internet of Things. 

Outer Edge Riyadh, a partnership between Edge of Company and Animoca Brands, presented by King Abdulaziz City for Science and Technology (KACST), comes at a pivotal moment during the growth of the blockchain sphere. The partnership aims to bring together industry leaders, experts, creatives and more to Riyadh’s innovation district, The Garage, a technology hub for local and international startups. KACST’s strategic partnership with Animoca Brands includes plans for the development of a physical Web3 hub in Riyadh to enhance research and development efforts within the fields of Web3, blockchain, gaming, AI, as well as providing bespoke educational programs. 

Mohammad Hadhrawi, general manager, Gaming and Immersive Technologies Institute at KACST, notes, “At KACST’s Gaming and Immersive Technologies Institute, we are dedicated to advancing the frontiers of R&D in gaming and immersive technologies. Our efforts are aligned with the national vision and strategies, aiming to foster an innovative ecosystem that nurtures creativity, technological advancement, and economic diversification. By spearheading projects that leverage web3, AI, and immersive experiences, we aim to impact the global technology landscape and equip our nation with the skills and opportunities to excel in these fields. Our commitment is to deliver tangible outcomes that contribute to the Kingdom’s position as a leader in the economies of the future (a key priority area for the kingdom), ensuring a sustainable and prosperous future for all.” 

Joshua Kriger, Outer Edge co-founder and co-host of Edge of NFT and Edge of AI podcasts, stated, “When we started Outer Edge LA, the intent was always to catalyze innovation globally. We are thrilled to take the concept of co-creation, connection and community abroad to the Kingdom of Saudi Arabia and unite regional and global leaders in Web3, AI, and gaming. Our unique format cultivates long-term collaboration opportunities at the intersection of culture, entertainment, and technology.”

Outer Edge, one of the pioneer events in the world of Web3, tech, culture, and entertainment, today announced a partnership with Animoca Brands, the company advancing digital property rights for gaming and the open metaverse, and King Abdulaziz City for Science and Technology (KACST), the national labs of the Kingdom, to debut Outer Edge Riyadh on 23 April. The dynamic event is set to bring together some of the biggest names in the blockchain, AI, and gaming ecosystems from all over the world to Riyadh, Saudi Arabia.

Outer Edge, historically based in LA and now expanding to the Middle East, is known for hosting memorable events and presenting invaluable networking opportunities for founders, builders, and venture capitalists in emerging technologies.

The Saudi Arabia tech revolution has already made major strides in developing various industries as the country builds a solid ecosystem for digital entrepreneurship. Saudi Arabia is focusing on enhancing its technology sector in line with the Saudi Vision 2030 plan, as businesses continue to invest in new tech such as AI, blockchain, VR, AR, and the Internet of Things.

Outer Edge Riyadh, a partnership between Edge of Company and Animoca Brands, presented by King Abdulaziz City for Science and Technology (KACST), comes at a pivotal moment during the growth of the blockchain sphere. The partnership aims to bring together industry leaders, experts, creatives and more to Riyadh’s innovation district, The Garage, a technology hub for local and international startups. KACST’s strategic partnership with Animoca Brands includes plans for the development of a physical Web3 hub in Riyadh to enhance research and development efforts within the fields of Web3, blockchain, gaming, AI, as well as providing bespoke educational programs.

Mohammad Hadhrawi, general manager, Gaming and Immersive Technologies Institute at KACST, notes: “At KACST’s Gaming and Immersive Technologies Institute, we are dedicated to advancing the frontiers of R&D in gaming and immersive technologies. Our efforts are aligned with the national vision and strategies, aiming to foster an innovative ecosystem that nurtures creativity, technological advancement, and economic diversification. By spearheading projects that leverage web3, AI, and immersive experiences, we aim to impact the global technology landscape and equip our nation with the skills and opportunities to excel in these fields. Our commitment is to deliver tangible outcomes that contribute to the Kingdom’s position as a leader in the economies of the future (a key priority area for the kingdom), ensuring a sustainable and prosperous future for all.”

Joshua Kriger, Outer Edge co-founder and co-host of Edge of NFT and Edge of AI podcasts, said: “When we started Outer Edge LA, the intent was always to catalyze innovation globally. We are thrilled to take the concept of co-creation, connection and community abroad to the Kingdom of Saudi Arabia and unite regional and global leaders in Web3, AI, and gaming. Our unique format cultivates long-term collaboration opportunities at the intersection of culture, entertainment, and technology.”

Taking place on 23 April at The Garage in the center of the city, Outer Edge Riyadh will bring together industry leaders, creatives, visionaries, entrepreneurs, and investors for an experience that threads together education and entertainment, to explore beyond the implications of decentralized, Blockchain, Web3 and AI technology on society. Topics will include smart cities, gaming, esports, art, culture and more.

Notable speakers at Outer Edge Riyadh will include Yat Siu, co-founder and executive chairman of Animoca Brands; Calvin Zhou, co-founder of Shrapnel,a venture backed UGC; Salwa Radwi, founder of ‘Nuqtah’, the first Saudi NFT Marketplace; Vatom founder and CEO Eric Pulier; Amanda Cassat, founder and CEO of Serotonin; Cole Damon, CEO of AG Esports Global; Yasser N Al Obaidan, chairman of Jawraa; and Sebastien Borget, co-founder and COO of The Sandbox.

Yat Siu, the co-founder and executive chairman of Animoca Brands, added, “Through our partnership with Outer Edge Riyadh we are honoured to help support the MENA region’s progress toward fully harnessing the power of Web3 and blockchain. Global leaders at Outer Edge Riyadh will gather to engage in spirited discussions, forge valuable partnerships, create new opportunities, and mobilize on a variety of topics ranging from revolutionizing smart cities to redefining finance and entertainment.”

Recently  Co-Founder of the Satoshi Roundtable retreat, and managing director of Chainstone Labs, Bruce Fenton, stated that he is heading to Saudi Arabia to bring Blockchain and Bitcoin education and investment into the country. ChainStone Labs is a Stealth mode financial tech company focused on tokenization of securities and digital assets backed by hard assets.

While Animoca Brands continues to invest heavily in the region.