UAE Changer crypto custodian and AI DLT startup Bitgrit to unlock AI on Chain

UAE Changer crypto custodian and AI DLT startup Bitgrit to unlock AI on Chain

UAE regulated Changer,a digital asset custodian and Bitgrit, a global startup working to democratize AI who recently registered their DLT Foundation at ADGM, have partnered to advance the Distributed Ledger Technology (DLT) Foundation ecosystem in Abu Dhabi Global Market (ADGM), to unlock new frontiers for “AI-on-chain” technology.

Changer, known for its ultra-secure custody platform for managing digital money and assets, will join forces with Bitgrit, which leverages its global network of over 40,000 AI developers to enable companies to crowdsource and license innovative AI solutions. Together, they aim to power a decentralized AI economy where developers, enterprises, and institutions can securely build, monetize, and trade AI models on the blockchain, right here in Abu Dhabi.

Wang Hao, CEO of Changer, stated, “This is a pivotal moment. Changer is dedicated to supporting ADGM’s DLT Foundation – the world’s first comprehensive framework for blockchain foundations, DAOs, and Web3 entities. We provide secure, regulated digital asset custody and a seamless infrastructure for tokenized ecosystems. With Bitgrit, we are forging new standards for transparency, efficiency, and global cooperation in the digital age.”

The partnership will initially see Changer provide custody services for Bitgrit’s native BGR tokens. It will then expand to secure AI models and datasets tokenized on Bitgrit’s BGR Network. This capability is crucial for creating smooth and secure interactions between traditional finance, cryptocurrency, and the burgeoning AI economy, boosting security, transparency, and worldwide appeal.

Kazuya Saginawa, CEO of Bitgrit, underscored the partnership’s strategic vision, “Teaming up with Changer is a game-changer for Bitgrit. Their trusted custody solutions allow us to confidently scale our decentralized AI ecosystem and position Bitgrit as a pioneer in the AI-on-chain revolution. This alliance solidifies our mission to securely bring advanced AI onto the blockchain, which will create immense value for developers, businesses, and investors across the globe.”

The event also served as an official announcement for the launch of the BGR Network by Bitgrit’s COO Saksham Kukreja. The BGR Network is a purpose-built blockchain ecosystem for AI applications. It allows AI models and datasets to be securely tokenized, owned, and traded on-chain, offering unprecedented transparency, ownership, and monetization avenues for AI creators and enterprises. Its ability to connect with other established blockchain systems makes it a pioneering infrastructure for the next wave of AI development.

Saksham Kukreja COO of Bitgrit added, “Our collaboration with Changer is fundamental to establishing a trusted, secure, and regulatory-compliant AI economy on the blockchain. This is not only a major achievement for Bitgrit but also a compelling example for the global Web3 community of how regulated partnerships in progressive jurisdictions like ADGM can catalyze sustainable and truly impactful innovation.”

The cooperation between these two regulated firms within ADGM underscores how supportive regulatory environments can powerfully drive innovation, further cementing Abu Dhabi’s position as a global leader in the advancement of blockchain and artificial intelligence.

Flipster crypto trading platform appoints MENA regional manager

Flipster crypto trading platform appoints MENA regional manager

In a show of its intention to enter the MENA region Flipster, a cryptocurrency trading platform, has appointed a regional head to drive innovation in this high-potential market.

Previously an executive at Rain crypto exchange licensed in UAE and Bahrain, Benjamin Grolimund, is now the General Manager of the UAE at Flipster.
Grolimund brings nearly two decades of experience scaling business operations and driving compliant digital assets innovation in the region. Prior to this, Ben was the founder and CEO of Finally Technologies, and the Regional Head of MEA at Bloomberg.

Appointed as General Manager of the UAE, Benjamin will oversee the firm’s business and operational strategies in the region. His appointment comes at a pivotal growth phase for Flipster, reinforcing its commitment to providing traders of all experience levels with seamless, global access to crypto trading.

Expanding into the Middle East marks a natural progression in Flipster’s global strategy, driven by the region’s strong demand for digital assets and a highly engaged, informed investor base. This move builds on the platform’s performance in 2024, which included an 856% increase in trading volume across existing markets. With Benjamin’s leadership, Flipster is well-positioned to support the region’s growing digital asset ecosystem and confidently execute its vision for strategic expansion in this high-growth market.

“Joining Flipster at this pivotal moment is an exciting opportunity to contribute to a bold vision for the future of digital asset trading,” said Benjamin Grolimund, General Manager of the UAE at Flipster. “The Middle East’s progressive regulatory environment and commitment to financial innovation provide an ideal foundation for responsible growth. My focus will be on establishing a strong, compliant, and operationally sound presence in the region—ensuring we build with integrity, safety, and long-term scalability. I’m proud to be part of a team that is setting new standards in the industry and driving the next phase of global expansion.”

As per the press release, Flipster’s expansion into the Middle East signals its commitment to work with regulators, industry partners, and the broader community. This move aims to shape the future of digital assets while ensuring traders worldwide stay ahead in a rapidly evolving market, all while maintaining the highest standards of compliance in the region.

Flipster offers over 350 trading pairs across spot and perpetual futures markets, Flipster combines zero trading fees, tight spreads, and up to 100x leverage to give users a powerful edge in any market condition. Users can trade and earn simultaneously—with USDT used for trading continuing to earn APR rewards—maximizing capital efficiency without sacrificing execution.

UAE Blockchain Verify platform issues 21.7 million certified documents

UAE Blockchain Verify platform issues 21.7 million certified documents

The UAE Blockchain enabled Verify platform, affiliated with the Telecommunications and Digital Government Regulatory Authority (TDRA), has issued over 21.789 million certified digital documents since its launch in mid-January 2022.

During the launch in 2022, H.E. Eng. Majed Sultan Al Mesmar, Director General of the Telecommunications and Digital Government Regulatory Authority, said: “With the launch of the “UAE Verify” platform, we take a new important step on the path of comprehensive digital transformation using future technologies such as blockchain, which is the technical basis for the “UAE Verify” platform. We are happy about this platform, which was the result of intensive cooperation between TDRA and many government entities, that worked together in a team spirit to serve the higher goals of the UAE government. On this occasion, I can only commend the partners of the first phase of the platform, namely the Ministry of Interior, the Ministry of Education, the Ministry of Health and Prevention, the Ministry of Justice, the Ministry of Community Development, the Ministry of Climate Change and Environment, the General Authority of Civil Aviation, the Federal Authority for Identity, Citizenship, Customs and Ports Security, and the Dubai Land Department. I extend thanks to the rest of the authorities that have expressed their willingness to participate in the development of the “UAE Verify” platform to serve all customers.”

As per the news post, TDRA introduced the UAE Verify platform to enable government and private entities to verify the authenticity of digital documents issued by government authorities on an immediate basis and without the need for original hard copy or true copy.

The TDRA Blockchain platform continues to play a vital role in advancing the UAE’s comprehensive digital transformation. It now supports verification for 55 types of digital documents, issued by 22 federal and local government entities. Verification can be done instantly without the need to review the content of the document, or examining the original hard copy or its true copy. Users can convert their documents to trusted digital documents with a high level of privacy and security. Check how you can obtain, verify and validate a trusted digital document.

UAE Verify employs blockchain technology, which helps regulate data and digital documents, verify authenticity, facilitate information sharing and ensure privacy protection. The platform enables users to convert their documents into authenticated digital versions with high levels of privacy and security.

In 2023, the UAE Ministry of Education (MoE) launched the blockchain enabled “automated attestation” service to make it easier for university graduates to get their certificates verified quickly. All attested university certificates will be provided through the blockchain-powered UAE Pass app, in cooperation with the Telecommunications and Digital Government Regulatory Authority (TDRA), enabling students to access their attested certificates in a faster and more reliable manner.

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Abu Dhabi to have an AI AION cognitive city

Abu Dhabi to have an AI AION cognitive city

Abu Dhabi-based security company BOLD Technologies, a subsidiary of BOLD Holding, and My Aion partnered to develop AION SENTIA Cognitive City, a next-generation AI platform designed to manage and optimize complex urban systems. The initiative, structured under a $2.5 billion Build-Operate-Transfer (BOT) model, will leverage MAIA, My Aion Inc.’s proprietary AI core engine, to integrate and support key sectors such as mobility, energy, education, healthcare, and digital services.

Currently under active development, the platform aims to deliver scalable smart infrastructure solutions globally, beginning with deployment in the UAE.

To mark the collaboration, BOLD Technologies and My Aion Inc. hosted a launch event, at the Emirates Palace Hotel in Abu Dhabi, attended by over 100 prominent business and technology leaders.

The guest list included representatives from leading institutions and global enterprises such as Sequoia Capital, Adnoc, G42, Leonardo, Amazon, TikTok, Fincantieri, Stellantis, the Mexican Ambassador, the Italian Embassy in the UAE, Abu Dhabi Capital Group, US Capital Group, AV Investor SA, Horizon Capital, and Netmore, as well as strategic technology players including Negg, Sitep Italia, Techera Watergy, and Motuse.

Representative of the private office of Bold Holding Chairman were also in attendance, along with senior representatives from Abu Dhabi’s government and public institutions, further underscoring the initiative’s strategic alignment with national innovation and development agendas.

The event introduced the vision and framework of AION SENTIA, showcasing its expected applications and how it will use advanced AI, sensor networks, and data analytics to support intelligent urban operations.

Abu Dhabi has been selected as the global headquarters for the initiative due to its progressive regulatory environment, robust cybersecurity standards, and well-established digital ecosystem. The move aligns with the UAE’s digital transformation strategy and positions the platform for international adoption.

“This initiative will support job creation for UAE nationals, foster local innovation, and contribute meaningfully to the national AI ecosystem,” remarked Thani Al Thani Al Falasi, the CEO of BOLD Technologies.

“We’re excited to work alongside My Aion Inc. to bring this ambitious vision to life,” he stated.

My Aion CEO Daniele Marinelli said: “Relocating our global operations to Abu Dhabi marks a new chapter for our team. The UAE offers the infrastructure and institutional support needed to scale responsibly and strategically.”

The partnership also includes plans to collaborate with UAE universities to launch training and upskilling programmes, further supporting the development of the national workforce in AI and digital technologies.

Founded in March 2023, BOLD Technologies leads digital transformation initiatives across the region and is one of eight subsidiaries under BOLD Holding, which operates in sectors including AI, energy, construction, oil & gas, and trading.

My Aion Inc., the developer of the AION SENTIA platform, is part of a group established in 2020 and maintains a presence in the US, UK, Italy, Latvia, and Monaco.

As part of this collaboration, all 63 employees and global operations will be consolidated in Abu Dhabi, a strategic relocation reinforcing the UAE’s position as a global hub for smart technology.

Hong Kong legislators pass stablecoin Bill

Hong Kong legislators pass stablecoin Bill

Hong Kong government, represented by the Hong Kong Monetary Authority has passed the Stablecoins Bill. The bill passed by the Legislative Council today (21 May) will establish a licensing regime for fiat-referenced stablecoins (FRS) issuers in Hong Kong, to further enhance Hong Kong’s regulatory framework on virtual-asset (VA) activities, thereby fostering financial stability and encouraging financial innovation.

Upon implementation of the Stablecoins Ordinance, any person who, in the course of business, issues an FRS in Hong Kong, or issues an FRS that purports to maintain a stable value with reference to Hong Kong dollars in or outside Hong Kong will need to obtain a licence from the Monetary Authority (MA).

The relevant persons must satisfy the requirements in areas such as reserve asset management and redemption, including proper segregation of client assets, maintaining a robust stabilization mechanism, and processing stablecoin holders’ requests for redemption at par value with reasonable conditions.

The relevant persons must also comply with a range of requirements, including those on anti-money laundering and counter-terrorist financing, risk management, disclosure and auditing, and fitness and propriety. The MA will conduct further consultations on the detailed regulatory requirements of the regime in due course.

FRS issued by a licensed issuer may be offered to a retail investor.

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “The Ordinance adheres to the ‘same activity, same risks, same regulation’ principle, with a focus on a risk-based approach to promote a robust regulatory environment. This is not only in line with international regulatory requirements, but also lays a solid foundation for Hong Kong’s virtual asset market, which, in turn, promotes the sustainable development of the industry, protects users’ rights and interests, and strengthens Hong Kong’s status as an international financial centre.”

The Chief Executive of the Hong Kong Monetary Authority, Mr Eddie Yue, added, “The Ordinance has established a risk-based, pragmatic, and flexible regulatory regime. We believe that a robust and fit-for-purpose regulatory environment would provide favourable conditions to support the healthy, responsible, and sustainable development of Hong Kong’s stablecoin and the broader digital asset ecosystem.”

The UAE Central Bank had passed its stablecoin Bill last year, while the USA is currently studying the Genius Act. the U.S.senate approved a procedural vote for the GENIUS Act for stablecoins, with 66 voting in favor, 32 against and two abstentions. Sixteen Democrats supported the vote, led by Senators Gillibrand, Alsobrooks, Gallego and Warner. The same vote failed on 8 May.

The Middle East Stablecoin Association appoints Founder of Klumi Ventures as Co Chair

The Middle East Stablecoin Association appoints Founder of Klumi Ventures as Co Chair

The Middle East Stablecoin Association launched in May has appointed Kristiina Lumeste, Founder and SEO of Klumi Ventures, a Web3 early stage venture capital firm, as Co-Chair of the Middle East Stablecoin Association – MESA.

As per the announcement, in her new role, Kristiina will lead the Technology, Innovation & Education Committee – a cornerstone of MESA’s mission to drive the responsible development of stablecoins through best-in-class frameworks across technical infrastructure, regulatory alignment, education, and ecosystem engagement.

Klumi post noted, “At Klumi Ventures, we firmly believe that stablecoins are reshaping the global financial infrastructure, offering unprecedented efficiency, transparency, and security for institutions, governments, and markets alike. We are deeply aligned with MESA’s vision to bridge the gap between innovation and compliance, enabling stablecoins to support the future of cross-border payments, tokenized asset settlement, and the digital economy.”

The Middle East Stablecoin Association participated in panel entitled Stablecoins in the UAE, Leading not Following, during TOKEN2049


Bitcoin Suisse subsidiary receives approval for crypto license in UAE

Bitcoin Suisse subsidiary receives approval for crypto license in UAE

Bitcoin Suisse, a Swiss crypto financial service provider, through its subsidiary BTCS (Middle East) Ltd. has received an In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM in Abu Dhabi UAE.

As per the press release, the milestone represents a significant step forward in Bitcoin Suisse’s strategic expansion, reinforcing its commitment to regulatory compliance, financial innovation, and global growth. With this achievement, Bitcoin Suisse is set to expand into the Middle East, introducing a refined and client-centric approach to crypto finance.

The company notes that it is on its way to securing the full license soon. With the license it will offer regulated crypto financial services including crypto trading, crypto securities, as well as crypto custody locally within ADGM.

“The In-Principle approval marks an important milestone in our global expansion journey,” said Ceyda Majcen, Head of Global Expansion and designated Senior Executive Officer of BTCS (Middle East) Ltd. “It reflects our strong commitment to maintaining the highest standards of transparency, security, and regulatory compliance. Abu Dhabi, one of the Middle East’s fastest-growing financial centers, presents a compelling opportunity for growth. We look forward to working closely with the FSRA to obtain our full license and to bring our decade of experience in crypto finance to the region’s rapidly evolving digital asset ecosystem.”

Arvind Ramamurthy, Chief of Market Development Officer at ADGM, said, “ADGM congratulates Bitcoin Suisse on receiving its IPA from the FSRA of ADGM. Their expansion plans to the region to provide regulated crypto financial services within the international financial centre is a testament to the immense opportunities available within Abu Dhabi. We look forward to Bitcoin Suisse receiving their Financial Services Permission (FSP) and their contribution to ADGM’s dynamic ecosystem.”

Bitcoin Suisse has built a strong reputation as a trusted crypto financial service provider in Switzerland, offering secure and compliant crypto asset solutions for private individuals and institutional clients with its deep expertise, precision and personal engagement. The company securely holds over USD $6 billion (AED 22.2 billion) in digital assets under custody and more than USD $2.6 billion (AED 8.9 billion) in institutional staking services, making it one of the largest providers of digital asset custody and institutional staking solutions globally.

Bitcoin Suisse will join the ranks of M2 and RAIN UAE.

Deus X Pay enables crypto payments for Trump Tower Dubai

Deus X Pay enables crypto payments for Trump Tower Dubai

Deus X Pay, a licensed institutional stablecoin payment solution in Lithuania, setting new standards across the luxury sectors, is now enabling crypto payments for property purchases at the new Trump Tower Dubai, the first Trump International Hotel to be built in the Middle East.

The new $1 billion Trump Tower Dubai, unveiled through partnership with London-listed Dar Global, marks a breakthrough in global luxury real estate. Eric Trump, Executive Vice President of the Trump Organisation and son of US President Donald Trump, has recently announced that Bitcoin and other digital currencies will be accepted for condo sales.

The Trump Tower Dubai, an 80-story architectural icon, offers the highest international standards for ultra-high-net-worth travellers and long-stay residents. The exclusive building boasts 2-3 bedroom apartments and 4-bedroom penthouses valued at over AED 73 million, the highest outdoor swimming pool in the world, and has views of the world’s tallest building, the Burj Khalifa.

Ziad El Chaar, CEO of Dar Global, said the Trump Tower Dubai is among the most ambitious Trump-branded residential towers globally, reflecting the project’s magnitude, stature, and symbolic significance in the region and internationally.

Trump previously told Gulf Business that Dubai is where luxury real estate and financial innovation intersect, and projects like Trump Tower Dubai are leading the way. By embracing technologies like stablecoins, buyers gain a faster, cheaper and more transparent way to secure exclusive, high-end properties while reshaping how luxury transactions are conducted.

As per the press release, Deus X Pay, a licensed Virtual Asset Service Provider (VASP) in Lithuania, offers institutional stablecoin payment solutions, enabling luxury sectors such as real estate, aviation and yachting to capitalise on this new era of finance. Deus X Pay CEO, Richard Crook, highlights that Dubai has created an environment where stablecoins can flourish as a practical, secure tool for international transactions (with Crypto Watch reporting that crypto adoption in the UAE is expected to surge 210% in 2025), giving premium buyers faster, frictionless access to high-value assets.

“Dubai’s forward-thinking stance has unlocked a whole new economy, and the gold standard for transactions of high-value assets. International buyers seek faster settlements, fewer cross-border complications and seamless access to premium developments. This project is a defining moment — not just for Deus X Pay, but for the global real estate sector. We are thrilled to deliver the regulated rails that make it possible for premium property buyers to transact instantly, compliantly and without the traditional delays or friction.”

This announcement comes as the UAE governmental entity, the Dubai Land Department (DLD) has partnered with the Dubai Virtual Assets Regulatory Authority (VARA) to link the real estate registry to property tokenization through an advanced governance system. The collaboration aims to enable the fractional ownership of real estate assets, allowing a broader base of investors, particularly small investors, to enter Dubai’s real estate market. This contributes to greater economic inclusion and enhances the sector’s appeal to global investments.

Du telecom sponsors Crypto Expo 2025 in UAE

Du telecom sponsors Crypto Expo 2025 in UAE

du, a telecom and digital services provider, through du Tech is sponsoring Crypto Expo 2025, cryptocurrency and blockchain event. Set to take place on 21–22 May at Dubai World Trade Centre. At the event, du Tech will showcase its commitment to driving innovation in one of the fastest-growing industries as well as empowering businesses and entrepreneurs with advanced technological solutions in the digital landscape.

Jasim Al Awadi, Chief ICT Officer at du, said, “Blockchain and cryptocurrency are transforming the way industries operate and connect, with Dubai taking the lead as a global hub for innovation in these sectors. With a focus on innovation and customer-centricity, du Tech’s services and solutions are driving the digital transformation across the UAE and beyond. Crypto Expo 2025 provides a platform to foster collaboration, explore new possibilities, and strengthen Dubai’s position as a hub of digital finance. We are thrilled to support this exciting event and contribute to shaping the future of the crypto ecosystem.”

Crypto Expo 2025 promises insightful panel discussions, cutting-edge exhibits, and networking opportunities for attendees eager to discover the latest trends in digital finance. With du Tech as a headline sponsor, the event reflects the synergy between technological innovation and industry expertise.

As the global hub for innovation and technological advancement, Dubai continues to establish itself as a major player in the cryptocurrency and blockchain space. With the UAE’s cryptocurrencies market projected to reach $254.3 million in revenue by 2025, Crypto Expo 2025 is expected to attract a diverse and influential audience, including top leaders from DeFi, blockchain technology, digital assets, and Web3 sectors.

In April 2025, du invested in a $544.54 million hyperscale data center deal with Microsoft who will be its main tenant. The hyperscale datacenter capacity will be delivered in tranches, du said in a statement. Hyperscale centers are large facilities that are mainly used to provide data storage and cloud computing services to businesses at scale.

LBank suspends UAE new users and disables trading for existing ones

LBank suspends UAE new users and disables trading for existing ones

LBank, a crypto exchange offering more than 800 crypto assets is seeking a license in UAE through Dubai’s Virtual Asset Regulatory Authority (VARA) and as a result they are implementing changes to ensure regulatory compliance and high standards of consumer protection and transparency which include suspending new user registrations from the UAE.

As per their blog post, “As part of our ongoing commitment to full regulatory compliance and responsible innovation, LBank is currently in the process of securing a Virtual Asset Service Provider (VASP) license under the Dubai Virtual Assets Regulatory Authority (VARA).
In alignment with regulatory expectations and to ensure the highest standards of consumer protection and operational transparency, the following temporary changes will apply to users accessing our services from the UAE.”

New user registrations from the UAE will be temporarily suspended, while existing UAE users will only be able to, cancel open orders
close active positions, withdraw funds. The blog post notes, deposits and new trading orders will be disabled during this interim period.

LBank stated, “We understand the importance of uninterrupted access and are working closely with regulators to complete the licensing process as efficiently and transparently as possible. This transition underscores our deep commitment to the UAE’s progressive regulatory framework and our goal to operate with full authorization and oversight under VARA. We appreciate your continued trust and patience as we work to build a safer, stronger, and fully compliant digital asset ecosystem in the UAE.”