UAE regulated Laser Digital invests in tokenization with Mantra blockchain

UAE regulated Laser Digital invests in tokenization with Mantra blockchain

UAE regulated Laser Digital, Nomura’s digital asset subsidiary has strategically invested in MANTRA Chain, a Layer 1 blockchain solution for Real World Assets (RWA).

In March 2024 MANTRA Chain raised $11 million led by UAE based Shorooq Partners with investors including Three-point capital, Forte Securities, VirtuZone, Hex Trust and GameFi Ventures. At the time it was noted that Mantra Chain was in the final stages of receiving licenses from Dubai’s crypto regulator, VARA.

As per the press release, “This new investment aims to accelerate MANTRA towards its goal of becoming the de-facto RWA tokenization Layer 1 blockchain for Middle East and Asian markets and marks a collaboration with Laser Digital, bringing their complementary expertise and pertinent experience of RWA tokenization to the partnership.”

Jez Mohideen, CEO of Laser Digital, stated, ” We are excited to support MANTRA’s journey as it pioneers new frontiers in RWA and digital finance.”


John Patrick Mullin, CEO and Co-Founder of MANTRA, expressed his enthusiasm about the partnership, “We are incredibly excited to welcome Laser Digital as a strategic partner. Laser Digital’s investment is not just financial but an endorsement of our mission to make RWA accessible and operable through blockchain technology. Laser’s expertise and network in the financial sectors will be invaluable as we expand our technological footprint.”

First DePin cloud data solution launches in Oman

First DePin cloud data solution launches in Oman

Serenity Shield, a fully decentralized multi-chain data storage solution, has launched its inaugural DEPIN ( Decentralized Physical Infrastructure Network), a decentralized storage facility in Oman. As per the press release, it will be the first facility of many to go live for testing across a global network of interconnected points at pivotal locations in India, Portugal, Netherlands, USA and Australia.

Serenity Shield is a fully decentralized multi-chain solution dedicated to privacy and security. It empowers individuals and businesses to interact securely and confidently in the digital world by leveraging the power of blockchain to safeguard and protect user data.

The operation seeks to liberate individuals and corporations from their current dependence on centralized cloud services for data storage.

With this robust infrastructure, Serenity Shield will allow individuals, businesses and government institutions to access a completely new form of data storage that gives redundancy, security and decentralisation by design. The vast array of global data centers will help to mitigate the centralised risks that currently threaten the widespread adoption of blockchain technology.

Venket Naga, CEO of Serenity Shield, explained, “The self-custodial narrative of decentralization hasn’t been able to stand up amidst the continued dependence on centralized cloud services to store data. We’ve been focused on addressing this for a long time and are finally able to deploy a remarkable solution in getting our DePIN facilities off the ground. In building and launching these state-of-the-art physical facilities, we’re able to fully support a Web3 ecosystem beyond the outlining of conceptual plans in a whitepaper.”

As per the press release, individuals who participate as node operators within the globally distributed network are set to benefit from incentive mechanisms such as token rewards and utility cost settlements. As the operations evolve, tokenized energy rewards will be distributed to users based on their specific locations and requirements, bringing an unparalleled aspect to a project of this kind with the convergence of DePIN and RWA.

The operation is also set to be funded through Green Hydrogen initiatives for renewable energy by governments across the selected locations, with the DePIN architecture already aligning with several sustainability initiatives.

In addition commercial blockchain projects will also be encouraged to contribute resources to the network and foster a collaborative ecosystem. Small and medium enterprises will experience advantages to supply chain management, data synchronization and content distribution; and governmental institutions will be able to better preserve public records and sensitive information.

Venket concluded, “By embracing the values of Web 3.0 and building upon the foundations laid by Web 2.0, we are forging a path towards a fine-tuned decentralised, resilient, and inclusive digital future. We are in the middle of an exciting digital transformation where the paradigm is shifting from centralized to decentralized systems, redistributing power and control in unprecedented ways.

At the forefront of this revolution stands the opportunity for an innovative Decentralized Physical Infrastructure Network to redefine how we conceive, construct, and manage physical infrastructure. It makes sense to start with the data.”

Dubai’s RTA to build Blockchain NFT platform for real estate

Dubai’s RTA to build Blockchain NFT platform for real estate

Dubai’s Roads and Transport Authority (RTA) has signed an MOU with SmartCrowd Holding Ltd, the parent company of SmartCrowd Ltd., licensed by the Dubai Financial Services Authority (DFSA), a digital platform specializing in real estate investment and crowdfunding across the Middle East and North Africa.

The MoU aims to develop a Blockchain NFT ( non-fungible token) digital platform, to attract investments for real estate and public facilities that RTA plans to establish and implement in the Emirate of Dubai in the future, such as rest areas, which include retail stores and various service centers with continuous investment returns.

The official signing event was held at RTA’s Head Office, with Ahmed Hashim Bahrozyan, CEO of RTA’s Public Transport Agency, representing RTA, and Siddiq Farid, Founder and CEO of SmartCrowd.

Bahrozyan commended SmartCrowd for spearheading evolution in real estate investing by leveraging regulations and smart applications of the latest technologies, such as blockchain. This MoU was signed on the back of SmartCrowd’s efforts to pilot a blockchain-based platform in Pakistan in 2022, aligning with RTA’s commitment to adopt trending technologies across its applications and services.

“The signing of this MoU is a significant step that marks RTA’s entry into the realm of investment in digital and non-fungible assets for public facilities and real estate. The move is expected to open new opportunities for RTA to increase and diversify its revenues and enable a wider segment of the community to enter in these investments, which do not require large capital,” Bahrozyan said.

“This initiative forms an integral part of RTA’s partnership with the private sector and is poised to enhance Dubai’s profile as a regional economic powerhouse in the landscape of a global economy. It will also develop RTA’s ambition to achieve financial sustainability as a key strategic goal and foster partnerships with the private sector, known for its innovative and creative potential, especially in the digital economy.”

Siddiq Farid, Founder and CEO of SmartCrowd stated, “This partnership validates our futuristic thinking as we keep up with fast-evolving technology. SmartCrowd has consistently been at the forefront of innovation, establishing the region’s first digital real estate platform from both regulatory and technological standpoints. Looking ahead, we are strategically leveraging emerging technologies to take our initiatives to the next level.

“We feel blessed to be in a country where innovation is not only fostered but championed. Partnering with a government entity that shares the same vision is especially exciting, as it allows us to deliver unique opportunities for everyone to be a part of this city’s tremendous growth.”

RTA is not the first governmental transportation entity to utilize blockchain, Oman Transport Ministry is also piloting a blockchain solution.

Unicorn Hunters partners with Qatar financial center for tech entrepreneurs

Unicorn Hunters partners with Qatar financial center for tech entrepreneurs

Unicorn Hunters, ta reality business series offering entrepreneurs a global platform to connect with millions of investors worldwide, has partnered with the Qatar Financial Centre Authority (QFCA) as it works to advance the nation as a world-class onshore financial and business hub.
This exciting new collaboration stands to further Qatar’s efforts to attract technology entrepreneurs which include Blockchain/DLT/tokenization innovators to the region, while simultaneously developing new partnerships and funding avenues for the Unicorn Hunters series, to the benefit of investor-fans, and featured entrepreneurs alike.

As part of the agreement, Unicorn Hunters and the QFCA will work together to position Qatar as a leading global innovation hub, connecting the country with innovators and entrepreneurs from both the Eastern and Western hemispheres. The partnership will also support the deployment of the Unicorn Hunters show in Qatar, integrating the series into the country’s innovation ecosystem and facilitating access to funding.

As part of a historic Memorandum of Understanding (MoU) signed at a special Signing Ceremony on the sidelines of the Qatar Economic Forum 2024, Unicorn Hunters and the QFCA will additionally work to promote and facilitate opportunities for entrepreneurs to establish operations in Qatar, with incentives available for a ‘soft-landing’ process and ensuring greater ease of doing business. High-growth startups may further be selected to be showcased on Unicorn Hunters, with the partnership also fostering collaboration on blockchain and financial technologies to ultimately democratize financial access to funding.

“Qatar’s commitment to technological prowess and ease of business start up and market integration, for example, to streamline the process of opening a new company in-country, makes this a perfect partnership,” stated Silvina Moschini, CEO of Unicorn Hunters and founder of the Unicoin, the official token of Unicorn Hunters. “At the same time, we are looking for future $1 billion ‘Unicorn’ companies to support and invest in Qatar, a nation striving to create an open and inviting economic environment for entrepreneurs from all walks of life who want to be the next Unicorn.”

As part of Qatar’s National Vision for 2030, the country has committed itself to creating a dynamic and sustainable economy by reinvesting its significant energy wealth into various other industries. The QFCA’s robust legal and regulatory frameworks additionally offer emerging companies access to one of the fastest-growing economies in the world.

“This partnership reflects QFC’s ongoing efforts in supporting Qatari entrepreneurs and empowering local startups and SMEs by providing a conducive business environment and an advanced innovation ecosystem that helps them grow and expand,” said Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC.

Viewed by millions globally, Unicorn Hunters supports emerging businesses by democratizing access to funding, giving entrepreneurs the opportunity to raise expansion capital from viewers around the world. In turn, viewers have the chance to make entry-level investments in pre-IPO opportunities. In 2022, Unicorn Hunters launched the Unicoin cryptocurrency, backed by real-world assets and investments in companies featured on the program.

Unicorn Hunters can be streamed on UnicornHunters.com, YouTube, Linkedin Broadcast, Facebook Video, and Vimeo. The program may also be viewed on Claro Video, one of the largest streaming platforms in Latin America, on Ghana’s TV3 Network, and on in-flight entertainment systems aboard Tap Air Portugal, WestJet, and Etihad Airways, the flagship airline of the UAE, serving millions of passengers across the Middle East, Europe, North America, Asia, Africa, and Australia.

After VARA’s initial approval for digital asset broker license, DKK partners with UAE Seed Group

After VARA’s initial approval for digital asset broker license, DKK partners with UAE Seed Group

DKK partner, an emerging markets FX liquidity specialist firm, which recently received initial approval for digital asset broker license from Dubai’s Virtual asset regulatory authority, has partnered with UAE Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, based in Dubai.

As per the press release, the partnership offers a significant step towards achieving seamless financial interoperability across the United Arab Emirates (UAE), the broader Middle East and North Africa region (MENA). The companies will work together to enable transparent and efficient transactions and processes for global financial institutions, promoting digital solutions and financial inclusivity.

DKK Partners was recently granted initial approval to offer digital asset broker dealer services by Dubai’s Virtual Assets Regulatory Authority (VARA). The initial approval allows DKK FZE to move forward in the licensing process and offer customers in Dubai and the UAE access to stablecoin blockchain technology, utilizing USDT and USDC.

The Seed Group specializes in diversified business interests and operates across a group of companies, within different sectors such as technology, real estate, healthcare and more. Fostering innovation is what the Seed Group strives for, focusing on investment activities and strategic partnerships.

Hisham Al Gurg, the CEO of Seed Group stated, “We are pleased to work alongside DKK Partners in delivering forex risk management, liquidity solutions, and expedited collections to the rapidly growing markets across Dubai and the MENA region. This joint alliance will allow DKK Partners to deliver seamless interoperability customised to the growing demands of local businesses and government institutions. We are optimistic about how this partnership will unfold in the coming months.”

Khalid Talukder, Co-Founder and CEO of DKK Partners commented, “It is an extremely exciting time for us at DKK Partners as the new partnership grants us access to the offices of key decision-makers in Dubai and the UAE’s largest and most prestigious businesses. We were looking for a key strategic partner based in Dubai that has wide-reaching access in the UAE and GCC, and Seed Group was absolutely the ideal match. This partnership will enable us to showcase our business model and the immediate advantages we offer, perfectly aligning with our three-year growth and expansion strategy.”

Cardano accelerator invests in KSA startup using USDC stablecoin for payments

Cardano accelerator invests in KSA startup using USDC stablecoin for payments

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.

Genesis Digital assets opens bitcoin mining datacenter in Argentina

Genesis Digital assets opens bitcoin mining datacenter in Argentina

Genesis Digital Assets Limited (GDA),a Bitcoin mining company with a presence in the UAE, is opening a new data center in Argentina powered by YPF Luz, a leading company in electric power generation.

The announcement comes during a period of expansion by GDA, which now operates 20 industrial-scale data centers across North America, South America, Europe, and Central Asia. The company’s first facility in South America is located in Rincón de Los Sauces, in the Neuquén Province and has a total capacity of 7 MW and 1 MW of backup.

The Bajo del Toro Thermal Power Plant, composed of YPF, Equinor and YPF Luz, will power 1,200 bitcoin mining machines, and efficiently monetize stranded gas, which would otherwise be flared into the atmosphere.

Speaking from the company’s Dubai office today, Abdumalik Mirakhmedov, Executive President of GDA, said: “We believe that Argentina is an important country for Bitcoin mining, given its abundance of energy sources and business-friendly environment.

“The opening of our first data center in South America is an important step in our geographic diversification efforts. And this will be yet another opportunity to show the world that Bitcoin mining can have a positive effect on the environment and can be fully integrated into local communities.”    

With an abundance of energy, a favorable political climate, and a strong crypto ethos, Argentina is becoming increasingly important for Bitcoin mining and the broader industry.

For the new data center, GDA will use the electricity generated from stranded gas provided YPF Luz, an electric power generation company that has been leading the energy transition since 2013.

As stated by the Intergovernmental Panel on Climate Change, methane gas adversely impacts the environment as it is responsible for approximately a third of the warming the world is experiencing. Methane mitigation techniques, such as the utilization of stranded gas, are important to reduce emissions and combat global warming.

“In 2022, we were the first Argentine company to generate electrical energy for cryptocurrency mining from flare gas, an innovative solution in line with YPF’s energy transition needs,” said Martín Mandarano, CEO of YPF Luz. “This project with GDA allows us to bring YPF and Equinor, two companies committed to reducing the carbon footprint of their exploration activities, an adaptable and sustainable flare gas use solution.”

UAE based decentralized credit intelligence platform appoints blockchain expert

UAE based decentralized credit intelligence platform appoints blockchain expert

UAE based Synnax Technologies, a decentralized credit intelligence platform, has appointed Luc Froehlich, the ex-global Head of Digital assets solutions at Fidelity International as their Chief Commercial Officer. He will lead Synnax’s global commercial strategy and operations.

Synnax was established in Dubai in 2023 by Founders Robert Alcorn, Dario Capodici, and Alessio Quaglini, who bring over a decade of experience in digital assets (Hex Trust, Clearpool) as well as extensive backgrounds in traditional finance.


As per the press release, Froehlich brings over two decades of expertise in fixed income, experience in scaling businesses within global financial institutions, and leading high-performing teams. Froehlich’s extensive professional background and MSc in Blockchain, coupled with his thought leadership and research contributions at the World Economic Forum, equip him to lead Synnax in delivering groundbreaking credit intelligence solutions.

Synnax is revolutionizing the credit analysis industry by harnessing a decentralized network of data scientists to predict companies’ future credit metrics. This innovative approach benefits a broad range of users, including lending and borrowing platforms, market makers, asset managers, and investment managers, providing them with financial health data critical for their business.


“Credit markets, particularly private credit, have boomed over the past few decades. In contrast, the risk assessment toolkit has lagged, transparency is still lacking, and conflict of interest remains. Synnax introduces a revolutionary approach to credit analysis. By leveraging advanced encryption, we can now harvest the computing power of a broad network of AI models to deliver credit intelligence. I am excited to join an experienced and trustworthy team to develop and deploy this pioneering technology. We’ll provide a competitive edge to traditional credit investors and risk managers, and open up a new realm of opportunities in the on-chain lending space.” – Luc Froehlich, Chief Commercial Officer, Synnax.


“We are thrilled to welcome Luc to the Synnax team,” said Robert Alcorn, CEO and Co-Founder of Synnax. “His deep expertise in credit markets and proven track record of driving innovation in the digital asset space will be invaluable as we work towards our mission of providing a more trustless and privacy-preserving framework for institutional credit assessment. His appointment is also timely as we prepare to release our first public model.”


Froehlich‘s appointment follows the successful closure of Synnax’s pre-seed funding in March 2024, led by No Limit Holdings; evidence of the firm’s forward momentum and growth. With Froehlich’s leadership and Synnax’s cutting-edge technology, the company is set to empower businesses with better information to improve their capital allocation decisions, revolutionizing the traditional approach to credit assessment and ratings for the digital asset era.

UAE Phoenix Group for crypto mining and blockchain reveals 166 percent year on year growth

UAE Phoenix Group for crypto mining and blockchain reveals 166 percent year on year growth

UAE headquartered, Phoenix Group PLC a provider of web3, crypto, and blockchain technologies in the region, announced financial results for the first quarter of 2024 with a Q1 net income of $66.2 million, a growth of 166% year-on-year.

As per the press release, total assets surged by 237% year-over-year, soaring to $879.3 million from $261 million. ⁠The quarter-over-quarter growth in total assets stands at 5%, while revenue experienced an 18% quarter-on-quarter increase, reaching $68.9 million.

In addition gGross profit saw a robust 82.8% quarter-on-quarter rise, amounting to $23.28 million, while tTotal comprehensive income expanded by 312% year-on-year to $102.28 million and by 33.7% quarter-on-quarter. As such the earnings per share for Q1 2024 amounted to $0.011.

“We are immensely proud of the remarkable strides we have made in the first quarter of 2024,” stated Seyed Mohammad Alizadehfard, Co-Founder and Group CEO of Phoenix Group. “Our robust financial results underscore the resilience and effectiveness of our business model, as well as our dedication to delivering exceptional value to our stakeholders. As we move forward, our commitment to innovation, strategic investments, and sustainability remains strong. We are confident that these focal points will not only help us achieve our long-term objectives but will also further cement our standing as a pivotal player in the web3 domain.”

Echoing this sentiment Mr. Munaf Ali, Co-founder & Group Managing Director added “Sustainability is a core principle that underpins our operations. We are diligently focusing on optimized energy solutions and exploring new technologies to minimize the environmental footprint of our crypto mining activities. We are convinced that responsible business practices are critical for long-term success, and we remain dedicated to advancing to a more sustainable future for the industry.”

UAE crypto broker BitOasis uses Sumsub for AML and KYC Compliance

UAE crypto broker BitOasis uses Sumsub for AML and KYC Compliance

UAE regulated crypto broker platform BitOasis will be using Sumsub, a full cycle verification platform providing customizable KYC, KYB, transaction monitoring, and AML solutions.

BitOasis has chosen Sumsub for crypto identity verification and AML screening for crypto compliance. Having recently reopened its platform to new retail and institutional users, this partnership with Sumsub will enable BitOasis to further enhance its user onboarding process while ensuring full compliance with strict AML and other regulatory requirements.

“We are excited to start working with Sumsub, a global leader in verification, anti-fraud and compliance. Sumsub will enable us to further strengthen the stringent controls we use to protect our users and ecosystem from illicit activities and support us in ensuring continued full compliance with evolving AML regulations. By implementing Sumsub’s KYC and AML Screening solutions, we make sure to provide the best user experience to our customers in the Middle East and beyond,” says Stanford Cardoz, AML Director at BitOasis.

“We are thrilled about our collaboration with BitOasis, a leading crypto platform in the Middle East,” comments Peter Sever, co-founder and Chief Strategy Officer of Sumsub. “We are proud to join BitOasis’ mission of building infrastructure for a new digital financial system based on cryptocurrencies, a system that is transparent, inclusive, compliant and secure.”

BitOasis recently received its active MVP Operational license from Dubai’s virtual asset regulatory authority, one step towards receiving a full license.

BitOasis noted that it holds and sells 60+ cryptocurrencies adding that since its launch, it has processed more than $6 billion in trading volume and raised more than $40 million dollars in funding from leading regional and global investors, such as CoinDCX, Wamda Capital, Jump Capital, Pantera Capital, and Global Founders Capital.