A new Web3 Alliance is formed in KSA

A new Web3 Alliance is formed in KSA

A new Web3 alliance has been formed in KSA . Animoca Brands, SandBox, and Outlier Ventures announced that they have united key Blockchain and digital innovation players towards to goal of driving adoption and Web3 technologies aligning with Saudi Arabia’s Vision 2030.

The non-profit association aims to create a collaborative ecosystem that empowers businesses and drives sustainable growth within Saudi Arabia by building on their previous initiatives and investments to advance the region’s digital landscape.

The alliance’s board is composed of industry leaders and experts based in Saudi Arabia, actively driving the Kingdom’s digital transformation. Supported by both international and local companies, these experts – including Dr. Abeer Al Humaimeedy, Yasser Alobaidan, Omar Elassar, Dr. Majid Almansouri, Wajd Badawi, Billal Yamak, Vincent Li, Bandar Altunisi, Ali Alasiri, and Stephan Apel – are deeply engaged in advancing innovation within the country.

“The Web3 Alliance of Saudi Arabia represents a crucial step forward in realizing the Kingdom’s vision for a digital future,” said Billal Yamak. “By bringing together expertise from both local and international leaders in the blockchain space, we’re creating a powerful platform for innovation and growth.”

On LinkedIn Bandar AlTunisi a Former Binance executive in MENA, stated, “Extremely excited to be a founding Board Member of the newly launched Web3 Alliance of Saudi Arabia (WASA)! WASA aims to accelerate the adoption and integration of blockchain technology and Web3 innovations in the Kingdom, through education, awareness, collaboration and policy support.”

The alliance will focus on four key pillars which include awareness and education, standards and best practice development, as well as research and development including networking and collaboration opportunities.

WASA will serve as the primary advocate for Web3 technology in the region, working independently to promote innovation rather than individual companies or entities.

The alliance’s governance structure includes a General Assembly and an Executive Committee, ensuring transparent and effective leadership. A comprehensive digital infrastructure and marketing strategy will support the alliance’s mission to connect and empower the Web3 community throughout Saudi Arabia.

Web3 enthusiasts, corporations, and industry leaders are invited to join the alliance and have a say in shaping the future of the Web3 ecosystem in Saudi Arabia.

NEOM and Outlier Ventures launched Web3 accelerator

In January of 2025, Neom, Saudi Arabia’s futuristic city being built on the shores of the Red Sea partnered with Saudi Arabian NTDP ( National Technology Development Program) and Outlier Ventures, a global Web3 accelerator, to launch the first Web3 accelerator and the FutureSpark Base Camp Demo Day.

Naif Abu Saida, Director of Web3 at Neom stated in a LinkedIn post, ” The future is here, and it’s powered by Web3. Since the beginning of our Web3 journey at NEOM, we’ve been working tirelessly to bring innovation to the forefront, and today, we’re proud to unveil the Kingdom’s first Web3 accelerator!”

UAE Mantra tokenization platform integrates Bitget Wallet

UAE Mantra tokenization platform integrates Bitget Wallet

Bitget Wallet, a leading Web3 non-custodial wallet, is now fully supporting the UAE based Mantra Mainnet, a Layer 1 blockchain focused on the tokenization of real-world assets (RWA).

As per the press release, with this integration, Bitget Wallet users can easily access Mantra’s network to transfer and receive $OM tokens, participate in cross-chain transactions, and explore staking opportunities through Mantra’s DApp.

The Mantra Mainnet is designed to enable the onchain representation of real-world assets, bridging the gap between traditional finance and blockchain ecosystems. Through tokenization, Mantra aims to provide a scalable and flexible foundation for integrating RWAs within decentralized finance (DeFi). By offering a compliant-ready framework, it positions itself as a key player in unlocking RWA potential.

Bitget Wallet’s integration with Mantra highlights its commitment to expanding user access to emerging on-chain asset ecosystems. Users can interact seamlessly with Mantra’s DApp, which offers $OM token staking, cross-chain functions, and official rewards programs. This integration aligns with the growing trend of bringing real-world asset exposure to the decentralized world.

Looking ahead, Bitget Wallet plans to deepen its collaboration with Mantra through upcoming reward programs designed to encourage user participation in the evolving RWA ecosystem. “As real-world assets move on-chain, wallets become gateways to a new era of finance,” said Alvin Kan, COO of Bitget Wallet. “Our partnership with Mantra accelerates this shift by providing users with direct access to tokenized assets, reshaping how value is stored, transferred, and grown in the digital world.”

UAE Tungsten Custody also announced support for Mantra

Earlier this week, UAE regulated, digital asset custodian, Tungsten Custody Solutions Ltd, also announced its support for UAE MANTRA (OM) Blockchain with its custodial services.

The collaboration would enable institutional clients to securely custody OM tokens while leveraging Tungsten’s regulated framework, ensuring the highest levels of security, transparency, and compliance. Tungsten Custody’s collaboration with MANTRA reinforces its commitment to supporting the broader MANTRA blockchain ecosystem that empowers developers and institutions to seamlessly participate in the evolving real world asset (RWA) tokenization space.

Mantra Blockchain to tokenize $1 billion worth of Assets for DAMAC

The support Mantra Blockchain for real world tokenization comes weeks after Mantra announced it would be tokenizing $1 billion worth of assets for DAMAC Group in the UAE.

Saudi based Oumla Blockchain has partnered with Chainlink

Saudi based Oumla Blockchain has partnered with Chainlink

Oumla, a Layer 1 blockchain platform that allows applications to be built on any blockchain with ease, as well as offers a secure vault infrastructure for storing digital assets has announced its partnership with Chainlink.

Chainlink Labs is one of the primary contributing developers of Chainlink, the standard for onchain finance, verifiable data, and cross-chain interoperability. Chainlink is unifying liquidity across global markets and has enabled over $17 trillion in transaction value across the blockchain economy. Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as top DeFi protocols including Aave, GMX, and Lido, use Chainlink to power next-generation applications for banking, asset management, and other major sectors.

In an X post Oumla stated, “We are pleased to announce that Oumla is partnering with chainlink and adopting the Chainlink standard on OumlaChain, a compliance-focused, permissioned blockchain in Saudi Arabia.”

The post adds, ” Bringing Chainlink SmartData to OumlaChain empowers enterprises, financial institutions, and government entities to move onchain, supporting the Kingdom’s blockchain innovation and digital transformation.”

Oumla in KSA, offers an intuitive infrastructure that caters to both businesses and government entities. The platform offers a suite of APIs and SDKs, enabling developers to build applications on top of any blockchain, including Ethereum Virtual Machine (EVM)-based networks, without the need to master complex, low-level blockchain-specific protocols.

Oumla already partnered with Avalanche Blockchain

Prior to this announcement, Oumla partnered with Avalanche Blockchain to create Saudi Arabia’s first Layer on Blockchain fully hosted in the country.

At the time Oumla stated, “This collaboration will support startups and SMEs, driving technological innovation across Saudi Arabia and the MENA region. It will bring a secure, locally-hosted blockchain platform closer to home, we’re paving the way for growth and innovation aligned with Saudi Vision 2030. This partnership is part of our larger mission to develop the products the region needs to thrive in Web3 and blockchain technology, preparing the MENA market for a seamless transition into the digital future.
We’re excited to bring this vision to life and drive the next wave of technological transformation!”

Adaverce, the venture capital fund and Web3 accelerator with a base in KSA, invested in Oumla. In 2024 Adaverse published its first Web3 ecosystem report for the Kingdom of Saudi Arabia showcasing growth, opportunities, as well as challenges. Since its inception, Adaverse has funded 54+ startups across Asia, the Middle East and Africa.

In addition Outlier Ventures has also chosen Oumla for its Spark accelerator program.

Chainlink has a presence in the UAE

In December 2024, Chainlink Labs, expanded its presence in the Middle East and North Africa (MENA) region, and set up an office and an entity in Abu Dhabi under the Registration Authority of ADGM.

At the same time, UAE Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, added a fifth council member of its Digital Asset Lab – Chainlink.

CEO of QFC believes AI and Blockchain broaden access to alternative investments

CEO of QFC believes AI and Blockchain broaden access to alternative investments

The CEO of Qatar Financial Center made some interesting remarks during The third edition of the annual Qatar Financial Market Forum 2025 themed ‘Public Growth and Private Capital’ was hosted by Qatar Financial Centre (QFC), in collaboration with Bloomberg Intelligence (BI), the research division of Bloomberg LP. He noted that emerging technologies are evolving at an unprecedented pace and no industry is untouched especially the financial markets, and that AI and Blockchain are broadening access to alternative investments

Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC in his opening speech noted that disruptive technologies like AI and Blockchain are enhancing efficiency and creating new financial products.

He also added that advances in AI and data analytics are enhancing private lending efficiency, improving risk assessments and opening new opportunities for private credit providers, while digital platforms, leveraging blockchain and AI are broadening access to alternative investments, attracting a more diverse range of investors, he said.

As public markets become more volatile due to geopolitical tensions, trade disputes and rising debt levels, investors are increasingly diversifying into alternative investments, such as private equity and credit to hedge against financial uncertainty while seeking higher returns and reduced exposure to market fluctuations.

QFC has been at the forefront of bringing Blockchain and AI technologies into the financial sector. Their focus is on tokenization of real estate securities, and bonds. QFC has already not only created the digital assets lab, but also a DLT and digital assets framework. Companies such as R3, The Hashgraph Association and SettleMint have joined the ranks as partners to support the digital asset and tokenization goals set by QFC.

Qareeb data centers and bitcoin miner Pantheon to rollout Bitcoin mining data centers in MENA

Qareeb data centers and bitcoin miner Pantheon to rollout Bitcoin mining data centers in MENA

Bahrain based Qareeb Data Centres, a Middle East edge data center provider, and Pantheon, a full-service global Bitcoin mining service provider, have partnered to cover the rollout of Pantheon Bitcoin mining data centers across the Middle East region.

Pantheon is a global Bitcoin mining company dedicated to building efficient, profitable mining operations. Through its Mining as a Service (MaaS) model, Pantheon offers clients tailored solutions that simplify Bitcoin mining for HNWI and financial institutions which aims to enter the MENA region.

As per the press release, Qareeb will act on behalf of Pantheon to secure sites adjacent to locations where Qareeb has secured, or is in the process of securing, sites to build its own colocation facilities. In addition, the Qareeb team will deliver fully-fitted and operational solutions for Pantheon as part of its build process as well as provide a full suite of engineering, operations, security and FM services.

“Partnering with Pantheon represents a significant opportunity for Qareeb, as we collaborate with one of the most exciting visionaries in the Bitcoin mining industry,” said Annemarie van Zadelhoff, Chief Strategy Officer at Qareeb. “Pantheon’s dedication to innovation and operational excellence aligns perfectly with our mission to deliver state-of-the-art data centre solutions across the Middle East. This partnership reflects our shared commitment to building a future-ready digital infrastructure and setting new standards for innovation and resilience in the region.”

Nick van Houtrijve, COO and Founder of Pantheon, added, “Pantheon’s expansion into the GCC is a strategic milestone as we continue to set new benchmarks for operational efficiency and performance. This partnership with Qareeb enables us to establish robust infrastructure in one of the fastest-growing Bitcoin mining markets globally.”

Bahrain Minister of Finance says Bahrain is in the midst of issuing stablecoin regulations

Bahrain Minister of Finance says Bahrain is in the midst of issuing stablecoin regulations

Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa noted the Central Bank of Bahrain (CBB) is in the midst of finalizing regulations to govern the issuance of stablecoins.

“These assets are expected to accelerate financial transactions, reduce costs, and expand accessibility, particularly for international transactions, thereby enhancing and supporting trade,” he said responding to a question by MP Hesham Al Ashiri on cryptocurrencies.

“The CBB is currently assessing the feasibility and effectiveness of using crypto assets in payments to improve the efficiency of existing systems,” he added.

“Before issuing any new laws or regulations, the bank ensures the release of consultation papers to gather feedback from stakeholders in the sector to ensure that the proposed regulatory requirements can be effectively implemented without hindering growth and innovation,” the minister stressed.

“The bank actively monitors the cryptocurrency market in Bahrain to mitigate potential risks, ensure economic stability, and provide the highest levels of protection for investors. To achieve this, licensed service providers are required to comply with various regulatory requirements, implement effective policies and systems for service delivery, and submit periodic reports, including details of executed transactions,” he said.

The minister also highlighted that having a crypto regulatory framework has strengthened Bahrain’s position as a leading regional hub for the digital economy and cryptocurrency sector.

The Central Bank of Bahrain had announced back in December 2024 that they were studying how the banking sector could offer stablecoins.

Hub71 admits Five digital asset startups to Cohort 16

Hub71 admits Five digital asset startups to Cohort 16

Hub71, Abu Dhabi’s global technology ecosystem, has admitted, five digital asset startups out of a total of 27 startups into its latest Cohort 16. The startups span across its three programs: Access, Hub71+ ClimateTech, and Hub71+ Digital Assets. Invoice Mate, Rilla Network, Sustainable Bitcoin Protocol, and 1Money are part of the Digital assets program.

Since the onset of Hub71 the venture ecosystem has support 357 startups, collectively securing over $145 million with an average of $4.9 million per company.

Over 1,300 companies/startups submitted applications. Under the Hub71 Digital assets program was InvoiceMate is a Blockchain & AI powered platform bridging conventional businesses with crypto liquidity, Redbrick is a cloud-based game and metaverse engine using blockchain and AI to streamline creation and distribution for all skill levels, Rilla Network is a decentralized infrastructure that unlocks the hidden potential of live streaming ecosystems while delivering exponential savings, Sustainable Bitcoin Protocol enables institutional investors to embed verifiable clean energy into their Bitcoin holdings—transforming Bitcoin’s distributed energy demand into a catalyst for the global energy transition, and 1Money which is developing the world’s first payment network exclusively designed for stablecoins, and specifically engineered to be the fastest, cheapest, and most compliant.

Among the new participants in Hub71’s Access programme is Vivan Therapeutics, a UK-based precision medicine company developing AI-driven cancer treatments using fruit fly models. The firm has raised US$10 million (AED 36 million) in funding. While in the Climate Tech program is Theion, a German company focused on developing sustainable sulphur-based batteries that can store up to three times more energy than conventional batteries.

Ahmad Ali Alwan, CEO of Hub71, said, “The selection process is highly competitive, reflecting the exceptional calibre of startups in our ecosystem. These companies are advancing innovation across key tech sectors while strengthening Abu Dhabi’s position as a global tech hub.”

The selected companies will benefit from access to Hub71’s network of mentors, partners, and investors, providing them with market opportunities, talent, and capital to support their commercial growth.


Abu Dhabi Judicial department expands authentication project

Abu Dhabi Judicial department expands authentication project

The Abu Dhabi Judicial Department (ADJD) has expanded the scope of the “Digital Document Authentication” project, enhancing access to authenticated documents and enabling direct verification of their validity and effectiveness through the website and smart application. The project utilizes AI technology as well as blockchain for efficient and seamless transactions.

As per the press release, the project supports the transition to fully digitized documents issued by the Judicial Department, using digital authentication mechanisms to verify document validity by scanning the embedded digital authentication code. Users can access information on documents such as powers of attorney, declarations, commercial contracts, marriage contracts, court correspondences, and enforcement orders through approved digital channels.

Counsellor Yousef Saeed Al Abri, ADJD Undersecretary, highlighted that the Digital Document Authentication project aligns with the Judicial Department’s strategic priorities, aiming to enhance customer satisfaction by providing innovative legal services that ensure swift justice and easy access to services via digital platforms.

The project actually started in 2021, when ADJD announced the launch allowing documents issued by the Department’s systems to be approved in an integrated digital way compatible with the UAE PASS digital identity system to authenticate documents.

At the time the UAE Ministry of Justice had announced its adoption of Blockchain technology for the authentication services being offered.

More recently the Ministry of Justice in Bahrain also announced it would be using blockchain for its notarization services with private entities.

Medical Value Chain training carries out sessions for new track and trace mandate in Bahrain

Medical Value Chain training carries out sessions for new track and trace mandate in Bahrain

Bahrain based Medical Value Chain (MVC) conducted a series of comprehensive training sessions for Bahrain government officials, manufacturers, importers, distributors and dispensers aimed at enhancing the understanding and utilization of the upgraded NHRA-MVC Traceability Hub, ensuring compliance with Bahrain’s Legislative Decree No. 41 of 2017, which mandates a Track and Trace System for pharmaceuticals.

MVC also announced the pre-release and upcoming beta testing phase of SmartPass Mobile, a groundbreaking new mobile application designed to verify the authenticity of medicines. This app is set to revolutionize patient safety by providing an accessible tool for consumers, pharmacists, and healthcare providers to check the legitimacy of pharmaceutical products at the point of sale or use.

Shaikha Dheya Bint Ebrahim Al Khalifa, MVC Executive Chairperson, stated, “Our commitment to enhancing the safety and efficiency of Bahrain’s pharmaceutical supply chain is reflected in these training sessions. The introduction of our new authentication app is a testament to our ongoing innovation in healthcare technology.”

The new application offers real-time Authentication where users can scan medicine packaging to verify its authenticity against the NHRA-MVC Traceability Hub database, a user-friendly Interface for ease of use, ensuring that verification can be conducted swiftly and accurately and security enhancements.


Tether and UAE Reelly real estate to leverage USDT stablecoin

Tether and UAE Reelly real estate to leverage USDT stablecoin

Tether Operations Limited, has partnered with UAE Reelly Tech, a real estate B2B platform allowing over 30,000 local and international agents on Reelly Tech’s platform to leverage the power of USDT, streamlining processes and driving efficiency in one of the region’s most dynamic markets.

One of the other aspects of the collaboration as per the press release is that Tether and Reelly Tech will develop a comprehensive interactive educational series to be promoted on Reelly Tech’s platform. This initiative aims to assist agents in exploring the transformative potential of stablecoins in property transactions and understanding the various practical applications, such as USDT transfers for real estate purchases, with confidence and security.

Reelly offers in-depth analysis of more than 1,450 projects and AI solutions for generating branded presentations, enabling agents to save countless hours. For developers, the one-stop solution simplifies communication with agents, reduces marketing costs, and offers real-time analytics on agent performance. The company plays a pivotal role in the real estate developer market, where agents facilitate approximately 95% of all property transactions in the UAE. Uniquely positioned to integrate with this key channel, it ensures developers can capitalize on every lead.

The collaboration between Tether and Reelly Tech aligns with Tether’s broader mission to foster blockchain innovation and education globally. In recent months, Tether has made significant strides in the Middle East, including the acceptance of USD₮ by the Financial Services Regulatory Authority (“FSRA”) as an Accepted Virtual Asset (“AVA”) in the Abu Dhabi Global Market (“ADGM”) as well as collaborations such as its work with RAK DAO in Ras Al Khaimah to promote education on Bitcoin and stablecoins.

Paolo Ardoino, CEO of Tether, stated, “We are excited to collaborate with Reelly Tech to drive blockchain innovation in the UAE’s rapidly evolving real estate sector. This initiative reflects our commitment to advancing resilient digital economies by empowering individuals and businesses with the tools and knowledge to thrive in a digital world. Together, we aim to streamline real estate transactions, promote sustainable growth, and set new benchmarks for innovation in the region.”

Vitaliy Ryzhak, CEO of Reelly, said, “The joint launch of the training program is only the first step. The UAE real estate market is experiencing dynamic growth, attracting large amounts of capital from around the world. We aim to make international real estate investment safe, efficient, and easy. To do this, we plan to create tools to open up new opportunities for using USDT in real estate transactions.”