UAE Phoenix Group and Web3 IOPn will invest $100 million in Ras Al Khaimah

UAE Phoenix Group and Web3 IOPn will invest $100 million in Ras Al Khaimah

UAE Web3, crypto blockchain company Phoenix Group, an ADX listed company, and IOPn, a Web3 ecosystem that leverages blockchain, AI and spatial computing, has partnered with RAK DAO, digital asset free zone in Ras Al Khaimah, investing $100 million in the Emirate of Ras Al Khaimah by 2030. Phoenix Group and IOPn ( Internet of People), will leverage RAK DAO’s infrastructure.

As per the press release, this substantial investment underscores Phoenix Group and IOPn’s dedication to stimulating innovation and attracting top-tier professionals to the region within the Web3 space. The partnership seeks to target, encourage and attract highly-skilled individuals in Web3, crypto, blockchain, and developer domains to the region.

Phoenix Group and IOPn aim to enrich the local talent pool by leveraging initiatives such as the Golden Visa programs and RAK DAO business licenses through investment. By nurturing top-tier talent, RAK DAO, Phoenix Group and IOPn seek to create a thriving ecosystem that harnesses cutting-edge technologies – including blockchain, spatial, and cognitive solutions for economic development and sustainability.

Phoenix Group operates nine crypto mining facilities in the US, Canada, CIS, and the UAE, with each unique company operating in one of four distinct verticals: Mining, Hosting, Trading, and Investments.

Dr. Sameer Al Ansari, CEO of RAK DAO has expressed, “We are thrilled to welcome Phoenix Group and IOPn as RAK DAO’s Ecosystem Partners. The $100 million investment marks a significant milestone in our mission to establish Ras al Khaimah as a premier destination for Web3 innovation and talent. By leveraging Phoenix Group and IOPn’s expertise and resources, we are poised to further enrich our dynamic ecosystem that fosters cutting-edge technologies and attracts the brightest minds in the blockchain and digital asset sectors.

Mr. Seyed Mohammad Alizadehfard (Bijan), Co-founder & Group CEO of Phoenix Group, elaborated on the new strategic dimensions of the partnership, stating, “Our joint venture marks a pivotal expansion of our commitment to blockchain infrastructure aimed at enhancing the technological landscape in Ras al Khaimah. Our partnership will not only drive innovation but also strategically position the Emirate as a leading center for blockchain excellence globally.”

Mr. Mojtaba Asadian, Founder and CEO of IOPn, added: “IOPn builds on the visionary leadership of Ras Al Khaimah and the supporting environment created by RAK DAO to provide a unique opportunity for top-rated world talent to innovate and create value. IOPn is doing this by offering a powerful new Web 3.0 ecosystem and using the significant proven capabilities of Phoenix Group. We’re thrilled to be embarking upon this partnership with RAK DAO in collaboration with Phoenix Group.”

Prior to this announcement, Lyvely, UAE-based social monetization platform, had been awarded a full operational license from Ras Al Khaimah Digital Assets Oasis (RAK DAO). The license allows Lyvely to undertake any non-regulated activities that fall under the SocialFi category. Lyvely is backed by Phoenix Group.

UAE RAK DAO and BlockLogica to usher in Web3 Blockchain innovation

UAE RAK DAO and BlockLogica to usher in Web3 Blockchain innovation

RAK DAO (Ras Al Khaimah Digital Assets Oasis) the world’s first and only common law free zone exclusively dedicated to digital and virtual asset companies, has partnered with BlockLogica, a Web3 digital assets strategy hub to usher in Web3 Blockchain innovation.

“We are thrilled to welcome Blocklogica Labs into the RAK DAO ecosystem. This partnership signifies our commitment to fostering innovation and providing unparalleled support to visionary enterprises within the blockchain space. Together, we will drive forward our mission of shaping a new era of digital transformation and empowerment in the Web3 landscape,” said Dr. Sameer Al Ansari, CEO of RAK DAO.

Asal Alizade, Co-Founder of BlockLogica Labs added, “Looking at the great potential for the Web3 industry in the UAE, we are excited to stand next to RAK DAO and create a supportive and regulated environment for cutting-edge projects in the Web3 and Blockchain area to grow properly. It’s impressive to see how RAK DAO is so innovative in changing the Digital Assets regulatory space and creating a healthy ecosystem, where all ideas and projects have an opportunity to grow perfectly and be seen, and we are happy to take part in building this ecosystem.”

Together, RAK DAO and Blocklogica Labs aim to advance joint efforts in shaping a new, open, decentralized, and trustless digital era. By amplifying opportunities for businesses and startups in the ever-evolving blockchain space, this partnership sets the stage for groundbreaking developments in the Web3 landscape.

Just last week, Conflux Blockchain, a Layer 1 Blockchain,entered the UAE and partnered with UAE’s RAK Digital Assets Oasis (RAKDAO) to develop the Blockchain and digital asset sector.

Trust Wallet a self custodial crypto wallet sets up base in UAE

Trust Wallet a self custodial crypto wallet sets up base in UAE

In an interview with Bloomberg News, Trust Wallet, self-custody crypto wallet, majority owned by the former CEO of Binance has announced its operations in the UAE both in RAKDAO (Digital assets Oasis) free zone in Ras Al Khaimah and in ADGM in Abu Dhabi.

According to Eowyn Chen, CEO of TrustWallet, “Trust Wallet operates from the free trade zone of Ras Al Khaimah, where it has a business license. The zone is also known as RAK DAO, for “Digital Asset Oasis,” and caters primarily to blockchain companies. RAK has “more flexible and better corporate treatment” for web3 companies.”

Chen moved to Dubai from Virginia in October, while the company will be based in Ras Al Khaimah, the sixth-largest city in the UAE. The company has about 80 employees worldwide with about 15 per cent to 20 per cent in the UAE according to Chen.

A separate company, DApps Platform, holds the intellectual property rights for the wallet service and is based in Abu Dhabi Global Market in Abu Dhabi.

According to Chen, Trust Wallet has seen growth in India, Pakistan, and business opportunities in the UAE.

Trust Wallet is a software-based crypto wallet service designed to let users self-custody the kinds of digital assets popular in decentralized finance applications.

Globally, the app-based service has 56 million downloads on iOS and Android, making it the most popular crypto wallet for handheld devices, according to Data.ai.

In her interview Chen described regulators in the UAE as having a “friendlier outlook toward crypto in general”. That gives Trust Wallet confidence about the likelihood of “reasonable regulation on decentralized finance.”

ADGM in Abu Dhabi announced recently that it will be amending its virtual asset regulations and introducing DeFi regulations in 2024.

UAE’s RAK Digital Oasis partners with Human.ai to bring Blockchain AI to companies in the ecosystem

UAE’s RAK Digital Oasis partners with Human.ai to bring Blockchain AI to companies in the ecosystem

UAE based RAK Digital Assets Oasis (RAK DAO) and Blockchain AI empowered platform Humans.ai  have partnered to drive artificial intelligence innovation in the Ras Al Khaimah (RAK) UAE. The Memorandum of Understanding (MOU) signifies the launch of an operational collaboration that will reshape AI technology within the world’s first Free Zone dedicated to global digital and virtual asset companies.

The strategic alliance aims to provide exclusive incentive packages to the first AI-focused companies establishing themselves in RAK DAO. These companies will gain access to RAK DAO’s partner ecosystem, offering services like toolkits, Dapps, tech solutions (including Humans.ai), investment opportunities, venture capital partners, banking, and licensing.

This partnership intends to create a robust blockchain framework that empowers AI companies in RAK DAO. This framework ensures secure governance and operation of AI models while maintaining transparency. Additionally, companies will tap into Humans.ai’s network, products, services, tools, and tech support to enhance operational efficiency and capabilities.

Sabin Dima, Humans.ai’s Founder and CEO, emphasized the significance of the partnership in fostering innovation, technological advancement, and economic growth. The combined expertise of Humans.ai and RAK’s visionary support will establish an ecosystem that encourages entrepreneurship and AI adoption, thereby impacting the global AI landscape.

Dr. Sameer Al Ansari, CEO of RAK DAO, underscored the partnership’s role in propelling Ras Al Khaimah to the forefront of AI technology. The collaboration will explore avenues to accelerate AI advancement, including joint Accelerators, Venture Studios, and similar initiatives that catalyze AI-driven entrepreneurship.

Humans.ai is in the UAE after partnering with UAE based blockchain consultancy studio Deca4 in Dubai.

In addition Humans.ai Blockchain for AIs introduced wrapped AI NFTs using Hedera Hashgraph blockchain network. Humans.ai’s cutting-edge Blockchain for AIs has launched its cross-chain interoperability with Hedera Hashgraph, to revolutionize the way AI NFTs are used across different platforms.

Humans.ai aims to scale the company’s innovative wrapped AI NFTs on the Hedera blockchain as a growing community of projects, applications, and ecosystem tools provide compelling reasons to choose Hedera to bring AI NFTs to the masses.

Blockchain crypto veteren James Bernard appointed as Chief Commercial Officer at UAE’s RAK Digital Assets Oasis

Blockchain crypto veteren James Bernard appointed as Chief Commercial Officer at UAE’s RAK Digital Assets Oasis

UAE’s latest digital asset and Web3 free zone in Ras Al Khaimah, RAK DAO, has appointed James Bernard at its Chief Commercial Officer. Bernard has been working in the digital asset blockchain sector since 2015. In the UAE he worked within Dubai’s DMCC and later on as an advisor to several Web3 blockchain entities within the UAE.

James will be responsible for all commercial activities, the implementation of business strategies and the development of partnerships, supporting entrepreneurs, innovators, and businesses across new and emerging tech sectors, digital assets, and web3, metaverse, AI, NFT, DApp, AI, blockchain, tokenization as well as many others. 

He was a founding member in 2015 of the Global Blockchain Council in Dubai, and leading DMCC’s Crypto strategy, developing early proof of concepts for various Web 3.0-powered ventures including Diamond Track and Trace, and property leasing applications, while also launching crypto asset licenses and making significant contributions to regional regulatory environment.

Commenting on James’ appointment, Dr. Sameer Al Ansari, CEO of RAK Digital Assets Oasis, said: “James brings with him a wealth of experience across the web3, digital assets and future tech landscape, enabling us to develop truly ground-breaking, strategically positioned models to support these sectors and tap into the growing global tech-enabled markets. We aim to open our doors to the companies of the future in the second quarter of 2023 and at such a crucial point in our emergence as innovation-enablers, we have no doubt that James’ formidable knowledge and experience will help us reach our ambitious targets.”

James Bernard, CCO of RAK Digital Assets Oasis, said: “I am thrilled to be part of RAK Digital Assets Oasis. With our forward-leaning approach to maximizing opportunities in disruptive technologies, the free zone is committed to supporting, empowering, and partnering with global leaders, entrepreneurial talent and innovators, building transformative solutions and creating impact.”

BSV Blockchain Association MENA to launch its projects and educational initiatives at exclusive VIP reception in UAE

BSV Blockchain Association MENA to launch its projects and educational initiatives at exclusive VIP reception in UAE

The BSV Blockchain association MENA chapter is working on several blockchain education and implementation projects to drive innovation in the UAE. To launch these initiatives BSV Blockchain will be hosting a VIP reception event in Ras Al Khaimah on October 8th 2022 at the InterContinental Ras Al Khaimah Resort and Spa.

Members of the UAE royal family, C-level executives and select members of the media will be in attendance.

Muhammad Salman Anjum, BSV MENA Hub Lead and Chief Mate of InvoiceMate stated, “This event will include the rolling out of training programmes in the Ras Al Khaimah to orient government decision makers and educate local developers and entrepreneurs on the capabilities of the BSV blockchain, an initiative that has already received great interest in the UAE.”

At the event notable speakers and global industry experts will share their uses cases built on BSV Blockchain. They include names such as Marcin Zarakowski – Chief of Staff at BSV Blockchain Association, Bryan Daugherty – Co-founder of blockchain distribution network SmartLedger, Mohammed Ibrahim Jega – Co-founder of Domineum and Geoffrey Weli-Wosu – Co-founder of Domineum, Stephan Nilsson – Founder of UNISOT, and Rohan Sharan – Founder of TimeChain Labs.

BSV Blockchain Association MENA chapter will also be exhibiting at the Future Blockchain Summit in Dubai being held alongside Gitex 2022.

The summit will allow industry experts to leverage countless networking opportunities, an expert conference programme and transformational workshops to explore distinct themes including: Blockchain for Enterprise, The Future of Digital Assets, Into the Metaverse

BSV Blockchain Association will have a physical booth on the show floor where attendees can learn about the original Bitcoin, and its benefits to start-ups and enterprises, as well as speak to BSV Blockchain companies in the Middle East and North Africa (MENA) region.