Ledger crypto wallet now a validator for UAE based Mantra Blockchain

Ledger crypto wallet now a validator for UAE based Mantra Blockchain

Ledger, crypto wallet hardware provider, have joined UAE based Mantra Layer1 Blockchain as one of the validators.

As per the blog post, Mantra noted, “We’re thrilled to announce that Ledger has joined MANTRA as a Validator, strengthening our network security and further decentralizing our governance process. MANTRA has also integrated with Ledger Live, allowing Ledger to support MANTRA Chain natively for all Ledger devices and enable users to manage and stake their $OM directly through the platform.”

The MANTRA Mainnet for real world asset tokenization launched in October 2024 with validators playing a crucial role in operating a blockchain, ensuring efficient and secure transactions, and upholding sound governance.

MANTRA has already onboarded prominent validators such as Google Cloud, Twinstake, and Hex Trust.

As per the blog post, Ledger, renowned for its hardware security devices like the Ledger Nano, brings solid security expertise to the MANTRA Chain validator set. This collaboration not only strengthens network security but also paves the way for additional integrations, leading to improved user experiences and enhanced security features within the MANTRA Chain ecosystem.

This comes weeks after UAE Conglomerate DAMAC Holdings announced it would be tokenizing $1 billion worth of assets on Mantra Blockchain. In an interview with CoinDesk, CEO of Mantra John Patrick Mullin, stated, ” The UAE will become the epicenter of where this all kicks off, as regulatory frameworks are critically supportive here.”

DAMAC’s Managing Partner Amira Sajwani also noted in the interview with CoinDesk, that it is the perfect time. She noted ” In the UAE, there is a massive spotlight on the country. Working with Mantra we are allowing people to enter lower entry point tokenizing properties, the timing is mature and there is an accurate regulatory framework coming in place, supporting innovation.”

She adds, ” We already had an entity regulated by DFSA and we already have experience fractionalizing real estate where the entry point is 500 AED equivalent to $150 and we have had huge traction. The average was much higher between $300-$10,000 investment tickets so we knew there was a market for it and a demand. Now we are moving it tokenized assets, tokenization allows more transparency and efficiency with the title deed of the property, and we chose Mantra because after exploring other chains, we chose them for their technology but the team was equally as important.”

At UAE AI and Blockchain Council meeting, Minister of AI says data is crucial to the future of UAE Economy

At UAE AI and Blockchain Council meeting, Minister of AI says data is crucial to the future of UAE Economy

In the 4th UAE AI and Blockchain Council meeting held in Ajman, Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, stressed that the data sector will significantly contribute to the future of the UAE economy.

He believes that as the reliance on Artificial Intelligence, AI, technology increases, becoming a base for many vital activities of future societies. Promoting investment in this rapidly evolving global economic sector comes as part of UAE plans to celebrate the export of the last barrel of oil in 50 years.

“The Government of the UAE is working to achieve its future strategic objectives. It strives to employ the AI sector as the main source of a diversified and sustainable knowledge economy, through the development of innovative practices and scientific uses of AI technology tools and enhancing cooperation among all parties to employ them in the development of government services and private sector performance. This contributes to achieving the objectives of the UAE Vision 2021, and the establishment of the future model of the UAE 2071,” said Al Olama.

The Minister’s remarks came during the fourth meeting of the UAE Artificial Intelligence and Blockchain Council, hosted by Ajman. The meeting was headed by Al Olama, in the presence of several officials and directors of federal and local government entities.

The meeting agenda covered key challenges and recommendations proposed to standardise data collection by the Data Committee within the Council. These included preparing qualified human resources, establishing a unified database, and defining data classification standards, as well the mechanism of coordination of efforts and the exchange of experiences between different entities by establishing a joint team. The participants also stressed the need to follow up the implementation of the recommendations of the Data Committee, by speeding up the development of data collection for AI technology and digital transactions, to promote the UAE as a leading center for data in the region.

UAE headquartered crypto exchange FreedX raises $50 million

UAE headquartered crypto exchange FreedX raises $50 million

Freedx, a cryptocurrency exchange with its headquarters noted to be in Dubai UAE, yet unregulated in the country till now, claims that it has raised $50 million in a funding round. The $50 million fundraising will enable Freedx to accelerate platform enhancements, expand global reach, and strengthen its customer support capabilities. While the crypto exchange notes that it has secured regulatory permission in Panama and a BTC license in El Salvador, it is taking steps to expand its compliance efforts globally.

As per the press release, the investment reflects investor confidence in Freedx’s approach to offering a platform designed with a focus on clarity, simplicity, and advanced trading tools.

The exchange aims to fill a vital gap in the market by combining advanced capabilities—such as optimized order routing, real-time analytics, and frictionless execution—with a sleek, user-friendly interface. Since its inception, the Freedx team has grown to nearly 100 members dedicated to building a transparent, efficient, and secure trading environment.

“At Freedx, we believe that trading should be as seamless and transparent as possible. This fundraise validates our vision to build a platform that prioritizes traders’ needs above all else. We’re thrilled about the opportunity to continue developing innovations that empower our community and drive the industry forward.” said Jonathan Farnell, CEO, Freedx. 

The roster of executives include Anton Golub, as Chief Investment Officer. Anton is based in Dubai UAE, and is well known in the blockchain space and crypto space, yet on his own LinkedIn page he does not mention his affiliation to the crypto exchange.

DIFC Julius Baer and Euroclear prepare whitepaper on tokenization in wealth transfer

DIFC Julius Baer and Euroclear prepare whitepaper on tokenization in wealth transfer

DIFC Innovation Hub, the start-up and innovation hub operating out of Dubai International Financial Centre (DIFC), a global financial centre in the Middle East, Africa and South Asia (MEASA) region, is collaborating with global Swiss wealth management firm, Julius Baer, and the Financial Market Infrastructure Euroclear, to lead on tackling challenges in the digital asset estate planning space with tokenization of assets being studied for wealth transfer.

The collaborative innovation project, organised by DIFC Innovation Hub, will bring together innovators, investors, and subject matter experts from across the wealth management value chain to explore how families can best use technology to manage rapidly expanding portfolios of tokenized and digital assets.

DIFC’s Innovation Hub experts will work closely with Julius Baer’s global innovation team and Euroclear’s innovation centre of excellence for a three-month sprint that will result in a white paper detailing a future-oriented solution for succession planning relating tokenization applied to multi-generational inheritance. The analysis and subsequent findings will serve as a blueprint for other geographies looking to turn similar challenges into opportunities.

It is estimated that AED 3.67trn (USD 1trn) in assets will be transferred to the next generation in the Middle East over the coming decade. However, only 24 per cent of High-Net-Worth Individuals have a full estate plan in place. Fast adoption of various digital asset classes by individuals and businesses also poses potential complexities to a seamless execution of estate plans currently in place. The DIFC Innovation Hub, Julius Baer and Euroclear collaboration will help bring tangible solutions to this global challenge.

Mohammad Alblooshi, Chief Executive Officer, DIFC Innovation Hub, commented: “The region is witnessing a trend of generational wealth being deployed across a variety of digital asset classes to diversify and future-proof their portfolios. By bringing together global leading entities across wealth management, financial services providers, tech disruptors and regulators, this newly launched innovation project will help transform one of the largest, underserved markets in the region and open doors to a more inclusive and tech enabled future for family businesses and the wealth management industry.”

Alireza Valizadeh, CEO, Julius Baer (Middle East) Ltd, said, “Generational wealth transfer is gaining momentum in the UAE, and we, as Julius Baer, are in a unique position to advise our clients having had our origins as a family business. On the occasion of Julius Baer’s 20-year anniversary in Dubai, I am hoping that this innovation project will showcase how we can work together to stay relevant to our future clients and provide a vision highlighting the evolution of the private banking industry especially with the onset of digital assets.”

Philippe Laurensy, Head of Group Strategy, Product Management and Innovation at Euroclear, added, “As a trusted financial market infrastructure we have a strong commitment to collaborate with the market providing innovative solutions to our clients. We are extremely pleased to be working with DIFC Innovation Hub and Julius Baer on what we see as a transformative journey to address market gaps and create efficiencies by harnessing the power of tokenization. By validating and unlocking the benefits of smart contracts we have the potential to redefine the narrative of wealth management, creating solutions that could span generations.”

In October 2024, The Dubai International Financial Centre (DIFC) Courts in partnership with The Hashgraph Association and its partner in the UAE Deca4 Consultancy launched a DLT Hedera enabled Digital Assets Will solution.

The Digital Assets Will empowers individuals to distribute their digital assets using a non-custodial DIFC Courts wallet. A non-custodial wallet also allows an individual the freedom to reallocate the assets to the desired beneficiaries within their wallet, and for full control to mobilize in and out of the wallet in their lifetime, with assets finally distributed as ‘specific gifts’.

UAE Scintilla for tokenization appoints ex compliance officer of Midchains

UAE Scintilla for tokenization appoints ex compliance officer of Midchains

Scintilla, an institutional-grade tokenization solution provider, which recently acquired UAE regulated TOKO a crypto exchange has appointed the previous head of compliance at Midchains, Janey Schueller, as Chief Compliance Officer. Scintilla views this key leadership addition as the company continues to expand its innovative digital asset creation platform and strengthen its compliance framework.

Janey Schueller brings over 18 years of senior banking, wealth management, and regulatory compliance experience to her new role, with a specialization in fintech and RegTech. Her career includes leadership positions at global financial institutions such as UBS AG, where she managed wealth planning, compliance, and dispute resolution teams across Asia and the UAE. Most recently, Janey served as Head of Compliance at MidChains, where she implemented fintech-driven compliance frameworks and ensured regulatory alignment with authorities like the Financial Services Regulatory Authority (FSRA) and Dubai’s Virtual Assets Regulatory Authority (VARA).

“Janey’s appointment is an exciting next step in Scintilla’s onward and upward journey to transform RWA tokenization,” commented Tim Popplewell, CEO of Scintilla. “Her extensive background in compliance and regulatory matters will be instrumental as we advance our mission of providing innovative, compliant digital asset solutions. Her leadership will help us navigate the evolving landscape of digital assets, ensuring we remain at the forefront of this dynamic industry.”

“Joining Scintilla feels like a natural step as they redefine compliance and innovation in finance,” shares Janey Schueller, Head of Compliance. “As regulatory frameworks evolve, the need for robust compliance is more critical than ever. I’m eager to contribute to Scintilla’s mission by ensuring our offerings meet the highest standards of compliance, paving the way for trusted and innovative tokenization solutions that empower our clients and support the future of finance.”

IOTA selected for Blockchain Digital identity use case with UAE and World Economic Forum

IOTA selected for Blockchain Digital identity use case with UAE and World Economic Forum

IOTA Foundation has been selected for the UAE Ministry of Economy, ADDED, and World Economic Forum TradeTech Regulatory Sandbox.

IOTA Foundation was selected to be part of the well-known TradeTech Regulatory Sandbox jointly organized by the World Economic Forum, the UAE Ministry of Economy, and the Abu Dhabi Department of Economic Development (ADDED). The initiative focuses on several key use cases within trade finance involving Know Your Customer (KYC) processes and digital identity.

IOTA announced this on X, stating, ” We are excited to participate in a use case focusing on KYC and Digital Identity for Trade Finance.”


The use case will be presented during the plenary session at the TradeTech Forum in Abu Dhabi on April 8th 2025.

The WEF for Trade and Investment chose eight participants who will be working closely with UAE regulators to test and refine solutions that address challenges in the global trade finance space. The entities other than IOTA include Credore, Enigio, Jetstream, Empeiria blockchain offering self sovereign identity solutions based out of the UAE, Haifan as well.

Regulatory partners include ADGM, Central Bank of the UAE, DFSA (Dubai Financial Services Authority) and UAE Ministry of Cabinet Affairs’s RegLab

Tokinvest and StegX bridge asset tokenization between UAE and Germany

Tokinvest and StegX bridge asset tokenization between UAE and Germany

Tokinvest, a UAE regulated marketplace for real-world asset investing, and German based StegX, a platform for tokenized real assets based in Germany, have partnered to bridge tokenization between UAE and Germany. StegX has been collaborating with entities to bridge tokenization solutions with Singapore, and Latin America.

The collaboration aims to advance the global ecosystem of tokenized real-world assets (RWAs) by combining the regulatory strengths and technological capabilities of both entities. As per the press release, the partnership will provide investors with seamless access to tokenized assets across multiple markets, enhancing transparency, liquidity, and financial inclusion.

This partnership represents a significant step toward mainstream adoption of tokenized assets. By connecting Dubai, a global hub for virtual asset innovation, with Frankfurt, one of Europe’s premier financial centers, Tokinvest and StegX are creating a robust cross-border infrastructure that benefits both issuers and investors.

“This collaboration underscores our commitment to democratizing access to the world’s most exclusive assets,” said Scott Thiel, CEO and Co-Founder of Tokinvest. “StegX’s expertise in tokenization and their strong presence in Europe complement our vision to make high-quality investments more accessible. Together, we’re building a bridge for global investors to explore the future of tokenized real-world assets in a secure, regulated environment.”

Daniel Radwansky, CEO and Co-Founder of StegX, commented, “This partnership represents a significant milestone in advancing the adoption of tokenised real-world assets. By connecting Europe and the Middle East, we are creating new opportunities for investors and issuers alike, fostering a global ecosystem of innovation, transparency, and efficiency.”

Finally, the collaboration will support issuers in creating, listing, and trading tokenized assets, ranging from real estate and commodities to funds, with unparalleled security and compliance.

Germany is already far along when it comes to opening up to tokenization of real world assets. In December 2024, German fintech 21X, one of the four applicants for a blockchain trading infrastructure permit under the European Union’s DLT Pilot Regime, secured regulatory approval to launch a tokenization platform.

Granted by German financial supervisory authority, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), the license enabled 21X to launch its exchange for tokenized financial instruments from its Frankfurt headquarters.

Additionally German based Cashlink Technologies also received a crypto custodian license from the German regulator. “With the combination of our license as a crypto securities registrar and the new crypto custody license, we offer a unique, comprehensive service offering around tokenized securities,” said Michael Duttlinger, CEO of Cashlink. “This strong regulatory foundation not only strengthens our market leadership as a neutral infrastructure provider for tokenized assets but also consistently drives forward the development of Capital Markets 2.0.”

SNC Insider’s recent market research has noted that the Tokenization Market was valued at USD 2.9 Billion in 2023 and is projected to reach USD 16.6 Billion by 2032, growing at a compound annual growth rate (CAGR) of 21.5% from 2024 to 2032.

OFZA Crypto exchange now licensed by Dubai’s Regulator

OFZA Crypto exchange now licensed by Dubai’s Regulator

OFZA, a UAE established cryptocurrency exchange that provides seamless and secure crypto trading offering has secured a full VASP license from Dubai’s Virtual Asset Regulatory Authority (VARA). As per the license, OFZA will be able to offer crypto broker-dealer Services, crypto exchange services, management and Investment Services as well as advisory services to both retail and institutional investors as well as qualified investors in the UAE.

With the license from VARA, OFZA becomes the 20th Virtual Asset exchange and broker provider to be licensed by VARA in the UAE. The license comes at a time when crypto is gaining immense traction with the new Trump administration.

The crypto exchange will be competing with players such as Binance, CoinMENA, Crypto.com, OKX and others in the UAE.

According to Chainalysis’ Geography of Crypto Report 2024, the UAE saw a 42% year-on-year growth in crypto transactions, receiving $34 billion between July 2023 and June 2024. The Middle East and North Africa region (MENA) accounted for 7.5% of all cryptocurrency transaction volume globally between July 2023 and June 2024.

Chainalysis estimated the total value received during the period to be $338.7 billion, with the vast majority of the transaction volume coming from institutional and professional investors.

UAE Further Ventures invests $5 million in GRVT decentralized crypto exchange

UAE Further Ventures invests $5 million in GRVT decentralized crypto exchange

UAE based Further Ventures, capital markets investment firm, has invested $5 million in GRVT, a regulated Decentralized exchange. The investment will be utilized to drive GRVT’s Middle East expansion and license progress.


GRVT (pronounced “gravity”), a regulated DEX, on its blog, believes the investment marks another significant milestone for GRVT, following its recent achievement of securing a Class M (“Modified”) Digital Asset Business License from the Bermuda Monetary Authority (BMA), making it the world’s first regulated DEX.

As a strategic partner, Further Ventures will provide essential support in product development, legal and regulatory guidance, talent recruitment, and business development, enabling GRVT to enhance its offerings for both retail and institutional traders across the Middle East. This will accelerate GRVT’s growth, strengthening its position as the first licensed blockchain-settled exchange and underscoring its next goal of securing a Abu Dhabi Global Market (ADGM) capital markets license.

“We are thrilled to this strategic round and have the support from Further Ventures as we continue to redefine the future of crypto exchanges,” said Hong Yea, Co-Founder and CEO of GRVT. “This investment is a crucial step in our expansion into the Abu Dhabi market, whose innovative crypto ecosystem and progressive regulatory frameworks make it an ideal base as we aim to lead the compliant DeFi development across the Middle East region. With Further Ventures’ backing, we’re well-positioned to meet the needs of both retail and institutional investors here.”

“GRVT is redefining the convergence of DeFi and TradFi with a compliance-first, self-custody approach,” said Mohamed Hamdy, Managing Partner at Further Ventures. “By integrating the efficiency and familiarity of traditional financial systems with the security and transparency of blockchain technology, GRVT is setting the stage for the future of global finance. This visionary blend of innovation and responsibility aligns perfectly with our mission to lead the region in shaping the next era of digital assets and financial services.”

GRVT launched its Mainnet Alpha in December 2024, reaching a 30-day trading volume of nearly $1.3 billion and an all-time high 24-hour trading volume of $88 million.

Earlier this month, Further Ventures, led a $16 million investment Series A round in French digital asset wallet and custodian developer, DFNS, DFNS, which was launched in 2020, and has operations both in Paris and New York aims to compete against FireBlocks and Ledger. Using the funds raised both in 2022, $12 million and that raised in January 2024 $16 million, the startup plans to accelerate its development to meet requirements of financial institutions.

UAE BITS Pilani establishes Blockchain and AI research center

UAE BITS Pilani establishes Blockchain and AI research center

BITS Pilani Dubai Campus, The Birla Institute of Technology and Science, (BPDC) has established the Ankitt Gaur Centre of Excellence in Blockchain & AI Research, following the signing of a Memorandum of Understanding (MoU). This ground-breaking initiative represents the first endowment from a Work Integrated Learning Program (WILP) alumnus, Ankitt Gaur, Founder & CEO of OrbitXPay and a distinguished alumnus (2007-2009 Batch) of BPDC.

As per the press release, the Ankitt Gaur Centre of Excellence aims to become a leading hub for research, innovation, and incubation in Blockchain, Artificial Intelligence (AI), and Web3 technologies. The center seeks to bridge the gap between academia and industry, fostering an ecosystem of innovation, entrepreneurship, and start-ups.

Prof. Souri Banerjee, Director of BITS Pilani Dubai Campus, remarked “We are immensely proud to formalize this MoU with Ankitt Gaur. This generous funding is a transformative milestone for our campus, enabling unparalleled opportunities in Blockchain and AI research and innovation. It reflects the enduring bond our alumni share with their alma mater and their commitment to shaping the future of technology.”

Speaking about the initiative, Ankitt Gaur said “BITS Pilani has played a pivotal role in shaping my career. As a proud alumnus, this commitment reflects my gratitude and vision to inspire innovation and technological advancement. Through this centre, I hope to empower innovators, students, and researchers to lead in the fields of AI, Blockchain, and Web3.”

The Centre of Excellence will serve as a platform for students and researchers to collaborate on cutting-edge projects, driving global leadership in next-generation technologies. It aims to strengthen the synergy between academia and industry, catalysing research and start-up ecosystems.

Prof. Arya Kumar, Dean of Alumni Relations Division, BITS Pilani, added “This is a landmark moment for BITS Pilani and its alumni community. Ankitt Gaur’s contribution underscores how our alumni are advancing cutting-edge research and creating opportunities for future generations. It will provide significant impetus to strengthening the start-up ecosystem with a focus on Blockchain and AI applications.”