Fortemis offers compliance and regulatory services at RAK DAO

Fortemis offers compliance and regulatory services at RAK DAO

Fortemis, which offer compliance and regulatory services, has partnered with RAK DAO Strategic and has set up its operations at RAK DAO. Fortemis was founded with the mission to empower businesses to navigate the complex regulatory landscape with confidence.

It is also a an IFZA authorized partner. According to Fortemis, navigating the regulatory licensing process can be complex and time-consuming, especially in the virtual asset and fintech industries, where compliance standards are continually evolving.

Their team at Crypto Consulting specializes in supporting companies through each stage of obtaining regulatory licenses, with a focus on the UAE’s Virtual Asset Regulatory Authority (VARA) in Dubai and the Financial Services Regulatory Authority (FSRA) in Abu Dhabi Global Markets (ADGM).

From anti-money laundering (AML) policies to data protection frameworks, their solutions aim to provide clear and compliant roadmap for managing risk.

Fortemis noted, ” We are proud to announce that Fortemis has officially partnered with the RAK Digital Assets Oasis, the world’s first free zone dedicated to supporting the future of Web3 and AI innovation. This partnership underscores our shared commitment to empowering founders and technology-driven ventures by providing clear, compliant pathways to launch and scale in the UAE. Through our collaboration, Fortemis will offer advisory and regulatory support for company formation, licensing, and governance, ensuring Web3 and AI projects are built on strong, future-proof foundations.”

CEO of UAE ADI Foundation talks about AEDC stablecoin

CEO of UAE ADI Foundation talks about AEDC stablecoin

In a recent interview with Abu Dhabi based ADI Foundation, CEO Guillaume de La Tour told Tahawultech about the new AED backed stablecoin, AEDC, that the foundation is working on for ADQ, sovereign wealth fund in Abu Dhabi and FAB Bank (First Abu Dhabi Bank).

The trio intend to launch a UAE Central Bank regulated AED stablecoin that will be used for making payments not only in the UAE but also internationally. Moreover the stablecoin will also be used for Machine to machine payments in the IoT domain and AI one.

According to La Tour, the AEDC stablecoin will transform UAE’s digital economy by offering fast inclusive and compliant financial services. He notes that, “It is built on a modular EVM blockchain, AEDC ensures scalability, security, and decentralization while embedding KYC/AML and FATF-compliant features to ensure privacy and regulatory compliance.”

For La Tour, AEDC is combining DeFi with traditional finance and aligns with both Abu Dhabi’s Economic Vision 2030 and ADGM’s robust regulatory framework, cementing the UAE’s role as a global fintech leader.

He explained that this is preparing the UAE for a tokenized future by digitizing the AED dirham and ensuring it is compatible with currencies like the USD, Euro and Yuan for seamless global interoperability.

In ten years, all assets, stocks, and bank accounts will be tokenized

According to La Tour in the next 10 years all assets, whether they are stocks, bank accounts, or currencies, will be tokenized to enable a 24/7 financial system. This is driven by the need for efficiency and global connectivity.

He states, “Nations are expected to increasingly tokenize their currencies to maintain sovereignty, while ensuring interoperability with blockchain-based digital financial systems. The stablecoin positions the UAE at the forefront of this transformation, leveraging its blockchain’s compliance and scalability.”

With strategic partnerships across 20+ countries, reaching nearly 500 million people, ADI Foundation bridges Web2 and Web3, integrating traditional banking with blockchain to create a compliant, inclusive ecosystem that supports economic diversification and innovation. 

The ADI Foundation is working to drive global financial inclusion by deploying a blockchain with locally validated compliance at Layer 3, tailored to each region’s regulations.  

Partnering with cutting-edge providers, La Tour notes that the ADI Foundation ensures localized infrastructure and AI integration on the blockchain, empowering communities with secure, scalable solutions.  

 He adds, “Unlike traditional blockchain solutions, ADI’s modular EVM-based platform integrates a dedicated Layer 3 compliance sublayer, ensuring adherence to local and international regulations, including KYC/AML and FATF standards. Real-time monitoring and decentralized identity (W3C-compliant) further enhance security, mitigating risks like cybercrime and fraud. This robust, transparent framework reassures stakeholders by aligning cutting-edge technology with regulatory rigor, making the stablecoin a trusted tool for seamless, scalable financial operations.” 

He gives the example of their collaboration with East Africa’s M-PESA enables 70 million users to convert mobile money into a stablecoin backed by an African currency, facilitating secure, low-cost cross-border transfers and real-time currency conversion.  

Similarly, ADI Foundation’s work with UK-based Esyasoft, revolutionizes the carbon credit market by leveraging blockchain for transparent, efficient trading to support sustainability goals, with 57 trillion transactions aimed at reducing the carbon footprint of 2 billion people.  

Upcoming stablecoin challenges

 La Tour sees three main challenges to stablecoins when it comes to regulations. The first is navigating complex regulatory landscapes because of the diversity and evolving regulatory policies across jurisdictions.
 

He states, “Governments often grapple with balancing innovation against risks, like money laundering, tax evasion, and financial instability, leading to fragmented or restrictive regulations.  For instance, ensuring compliance with varying KYC/AML requirements globally, while maintaining blockchain’s decentralized ethos, is a technical and diplomatic hurdle. ADI Foundation addresses this by integrating a Layer 3 compliance sublayer into its modular EVM blockchain, enabling localized regulatory alignment without compromising scalability or security. 
The second challenge is ensuring interoperability and technological disparities which includes interoperability between stablecoins and existing financial systems.  

However, he addresses this issue stating that ADI Foundation is tackling this by designing native support for cross chain compatibility.

He explains, “For example, our collaboration with regional tech firms ensures blockchain nodes and AI-driven services operate efficiently even in low-resource environments, fostering inclusivity and operational reliability.”

The final challenge is building public and institutional confidence because of the skepticism around digital currencies. He notes that governments and investors may hesitate to adopt stablecoins, fearing economic disruptions or technical vulnerabilities.  

ADI Foundation counters this by anchoring the Dirham-backed stablecoin to the stable UAE Dirham and implementing robust cybersecurity measures, such as real-time transaction monitoring and W3C-compliant decentralized identity.  

Web3 game, MetaSpace secures license in RAK Digital Assets Oasis

Web3 game, MetaSpace secures license in RAK Digital Assets Oasis

MetaSpace, an immersive Web3 Play-to-Earn (P2E) game built on Polygon Blockchain, has secured a business license from RAK Digital Assets Oasis (RAK DAO) as a Gaming Studio and Metaverse Service Provider.

As per the press release, the achievement marks a significant milestone in the project’s journey and underscores its dedication to creating a secure, compliant, and globally scalable gaming ecosystem.

MetaSpace offers a dynamic, open-world gaming experience driven by a decentralized, token-based economy. Players can earn, trade, and own in-game assets, including customizable avatars, rare digital collectibles, and NFTs that enhance gameplay and progression. The game blends action, strategy, and exploration to create a deeply engaging universe, empowering players to compete, collaborate, and craft their own unique experiences.

At the heart of the platform is its decentralized NFT marketplace, where players can freely buy, sell, and trade digital assets. Whether flipping NFTs for profit or staking them for high-yield returns, users actively contribute to the in-game economy. The game’s Play-to-Earn model transforms time spent in the game into real rewards, allowing players to shape and benefit from the game’s evolving economy, turning participation into tangible value.

“Securing the RAK DAO license is a key milestone for MetaSpace,” said Mo Akram, the founder. “It gives us the confidence and framework to grow responsibly and scale our P2E ecosystem across borders.”

UAE Fintech group Equiti and Dubai Digital Asset Association partner

UAE Fintech group Equiti and Dubai Digital Asset Association partner

MENA based Equiti Group, a global online trading and fintech innovation with licenses in UAE, UK and Cyprus, has partnered with UAE based D2A2 (Dubai Digital Asset Association), the MENA platform for regulatory discourse on tokenized real-world assets, to create a secure, transparent, and future ready digital asset ecosystem.

The alliance seeks to work to evolve the digital asset regulatory frameworks in the MENA region working with industry leaders, regulators policy makers and other key stakeholders such as the private sector.

“Finance should work for everyone, not just those with legacy access. Partnering with D2A2 gives us the opportunity to engage in meaningful dialogue with fellow industry leaders, share insights, and help shape a more inclusive financial future,” stated Iskandar Najjar, Equiti Group CEO & co-founder. “It’s about building a community where innovation is driven collectively, and access to opportunity is expanded through collaboration.”

Equiti brings deep experience in regulated finance, global market infrastructure and fintech solutions across EMEA. D2A2, meanwhile, is uniquely positioned as a regulatory thought leader, providing a trusted forum for exploring secure digitisation of real-world assets, including property, commodities, and income-generating instruments.

Together, the two organizations will champion collaboration for sustainable tokenized finance in the region. “Our collaboration with Equiti represents a significant step in furthering our commitment to stakeholder engagement and ecosystem development,” added Gaurang Desai, Chairman of D2A2. By fostering constructive dialogue and supporting responsible innovation, we aim to strengthen Dubai’s position as a global hub for digital assets.”

The Equiti-D2A2 partnership will focus on four core pillars, driving industry-regulator dialogue to foster balanced growth of the digital asset sector, contributing to policy clarity on tokenization, custody, and cross-border innovation, elevating financial literacy on blockchain and real-world asset tokenization and bridging TradFi and DeFi through infrastructure that unites security with agility.

UAE regulated Emirates Coin Investment first to offer crypto and traditional investments

UAE regulated Emirates Coin Investment first to offer crypto and traditional investments

Emirates Coin Investment LLC (EmCoin) based out of Abu Dhabi UAE, has become the first regulated integrated investment platform to offer both crypto investments as well as traditional assets such as equities, commodities, and even ICOs.

Regulated by the UAE Securities and Commodities Authority, Emirates Coin Investment will be able to serve the entire UAE. As per the press release, this marks a bold new chapter in the UAE’s financial journey ushering in a smarter, safer, and more inclusive era for investors of all levels.

EmCoin will launch a cutting-edge investment platform that brings together digital assets and traditional finance all within a single, seamless mobile experience. Users will be able to trade Virtual Assets, invest in UAE and global equities, buy commodities, and access expert-managed portfolios with full transparency and trust.


“This is a landmark moment,” said Yasin Arafat, Chief Operating Officer of EmCoin. “We’re building a secure bridge between old and new finance. Thanks to the SCA’s vision, EmCoin gives everyday investors the tools to take control of their financial future with clarity, compliance, and confidence. The future of finance is tokenized, decentralized, and inclusive and EmCoin is leading that charge.”

EmCoin will bring under one roof both crypto assets, global stocks, managed funds, and even ICOs (Initial Coin offerings) onto a regulated, secure and expert supported platform.

EmCoin is working closely with the SCA to introduce regulated Initial Coin Offerings (ICOs) unlocking innovative new ways for businesses to raise capital and for investors to participate in previously inaccessible opportunities. These developments reinforce the UAE’s position as a forward-looking global hub for digital finance.

Prior to this the first AED (UAE Dirham) stablecoin approved by the Central Bank of the UAE, named AECOIN is also starting to be used as in Air Arabia.


Ripple stablecoin approved by Dubai DIFC regulator

Ripple stablecoin approved by Dubai DIFC regulator

Ripple, an enterprise blockchain and crypto solutions, RLUSD stablecoin has been approved as a recognized crypto token by the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Centre (DIFC).


As per the press release, this approval reinforces RLUSD’s position as a trusted, enterprise-grade stablecoin, built with regulatory compliance, utility, and transparency at its core. Alongside today’s approval under the DFSA’s crypto token regime, RLUSD is one of the few stablecoins globally to be issued under a New York Department of Financial Services (NYDFS) Trust Company Charter.

“The DFSA’s approval of RLUSD is proof of our commitment to building a stablecoin that meets the highest standards of trust, transparency and utility,” said Jack McDonald, Senior Vice President of Stablecoins at Ripple. “With regulation-first design and enterprise-grade features, RLUSD is uniquely positioned to drive enterprise utility of blockchain technology across global markets, starting with cross-border payments.”

RLUSD has been purpose-built for global enterprise utility, particularly in improving the speed, cost and efficiency of cross-border payments. This recognition allows Ripple to integrate RLUSD into its DFSA-licensed flagship payments solution, combining the stability of a trusted digital dollar with a scalable, blockchain-based infrastructure and Ripple’s extensive global payout network.

This approval also enables other DFSA-licensed firms in the fast-growing DIFC to incorporate RLUSD into their virtual assets services. With almost 7,000 firms active at the end of 2024, this further supports the integration of high-quality stablecoins into Dubai’s burgeoning digital assets and fintech ecosystem.

Stablecoin adoption in the UAE is accelerating. According to market data, 2024 saw a 55% year-on-year increase in stablecoin transactions in the region, signalling strong demand for blockchain solutions that address the inefficiencies of traditional payment rails. With a $400BN+ market for international trade and one of the world’s most progressive regulatory frameworks for digital assets, the UAE is well-positioned to become a global hub for stablecoin innovation and utility.

“The UAE continues to set a global benchmark for forward-thinking digital asset regulation and innovation,” said Reece Merrick, Managing Director Middle East and Africa (MEA) at Ripple. “The DFSA’s approval of RLUSD is yet another step forward for Ripple’s operations in the region, and we’re seeing huge interest from businesses of all sizes for cross-border payments and digital asset custody solutions. The UAE’s digital economy is vibrant and incredibly dynamic, and we’re looking forward to working with our regional partners, customers and regulators to supercharge that growth.”

Earlier this month Ripple onboarded UAE Zand Digital bank and Mamo, while it also was used in Dubai Land Department tokenization of property platform.

SuiHub and VARA Dubai collaborate to support startups

SuiHub and VARA Dubai collaborate to support startups

SuiHub MENA and the Dubai Virtual Assets Regulatory Authority (VARA) have signed an agreement to support startups, develop local talent, and share insights that can help grow the virtual asset space in the Middle East.

As per the announcement, the collaboration represents a shared vision to make Dubai a global hotspot for virtual asset innovation. VARA, established in 2022, oversees the regulation and supervision of virtual assets in the Emirate. SuiHub MENA, backed by the Sui Foundation, is committed to supporting builders and developers in the web3 ecosystem. Together, they will engage in activities that simplify compliance processes for startups, provide advisory support, and generate insights to guide future virtual asset policies in the region.

The partnership includes several initiatives, such as regulatory and licensing educational support by jointly hosted workshops and guidance for startups navigating Dubai’s licensing regime, including advisory sessions and educational materials to guide founders and participants. It also includes ecosystem development, where VARA will support SuiHub MENA’s flagship innovation center based in Dubai through roundtables and strategic engagements with government stakeholders, as well as a joint exploration of research opportunities.

Additionally both entities will co create programs that are aimed at expanding local technical expertise aligned with the regulatory needs of the market. Both will also share anonymized data to assess the sector’s growth and its impact on employment, investment, and economic contributions.

SuiHub MENA will facilitate introductions between VARA and ecosystem projects while contributing insights for economic policy development. Both organizations will explore co-authored research and publications focused on the industry’s evolution.

“At SuiHub MENA, we believe in building strategic and supportive collaborations between regulators and founders.” shared Kristof Lukovich, CEO of SuiHub MENA. “Our collaboration with VARA is a significant forward and aligns with SuiHub MENA’s positive commitment to helping to shape a global benchmark for virtual asset innovation, regulatory clarity, and sustainable growth here in the region.”

UAE Fuze and Oman based Mamun to bring Sharia compliant financing through stablecoins

UAE Fuze and Oman based Mamun to bring Sharia compliant financing through stablecoins

UAE Regulated digital assets infrastructure provider, Fuze, has signed a strategic memorandum of understanding (MoU) with Oman based Mamun is a Sharia-compliant alternative finance and investment platform headquartered to enable regional and global retail and institutional investors to participate in short-term, sharia compliant financing of trade-driven businesses in USDT (Tether’s US dollar-pegged stablecoin).

As per the announcement, trade-driven businesses will then be able to receive fiat financing in local currency for supplier payments, local and cross-border trade. This will support businesses in accessing new forms of financing from a wider pool of investors.

The trade-credit gap in MENA stands at a staggering $250 billion, with that gap being over $1 trillion globally. SME businesses particularly feel the grunt of this problem, being underserved and underbanked by traditional financial institutions. Meanwhile, there are over 40 million crypto investors in MENA alone, with an estimated holding value of $300 billion, with very little access, if any, to small minimum, high-yielding, Sharia-compliant trade finance assets.

The partnership is one of the region’s first to bridge regulated digital asset infrastructure with traditional private credit markets. Under this collaboration, Fuze will provide the digital asset rails (on/off ramp, custody and conversion) while Mamun will originate Sharia-compliant trade finance opportunities. The agreement will enable quick and compliant settlement for SME trade financing and solve pain points around cross-border capital movement.

Mo Ali Yusuf, Fuze CEO said, “The alignment between Fuze and Mamun underscores a growing trend – the use of stablecoins like USDT not only for trading or remittance, but as a working capital and liquidity tool for real-world finance.”

Mohammed Al-Tamami, Mamun CCO said, “Bringing stablecoins into Sharia-compliant private credit allows us to open new pathways for cross-border trade finance. At Mamun, we’re not just innovating, we’re aligning digital asset infrastructure with real-economy capital needs. This collaboration with Fuze enables us to better serve investors and businesses alike.”

Galaxy recently led an investment round of $12 million into Fuze.

XBTO graduate of Abu Dhabi Hub71 receives crypto license in UAE

XBTO graduate of Abu Dhabi Hub71 receives crypto license in UAE

XBTO, an institutional digital asset management and graduate of Abu Dhabi Hub71 cohort has received full approval for its Financial Services Permission (FSP) under the 3A license category from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) in the UAE to offer crypto custody, investment, and deal services.

The approval authorises XBTO to provide a range of financial services in and from ADGM, including custody, dealing in investments as matched principal, advising on investments, and arranging deals in investments.

“The UAE is a leading market in digital assets, and the 3A licence enables us to be a part of a positive digital movement in the region. This licence also serves to reinforce our long-term commitment to institutional integrity, regulatory transparency, and financial innovation in the UAE,” said Philippe Bekhazi, CEO and Founder of XBTO Group. “ADGM has built one of the most respected regulatory frameworks in the digital asset space globally, and we are honoured to be recognised under its jurisdiction.”

The licence enables XBTO to operate as a regulated counterparty to institutional investors, including sovereign wealth funds, family offices, and regional financial institutions. It also allows the company to actively market its services across the UAE, bolstering its ability to engage directly with local stakeholders and deepen its presence in the region.

“This approval gives XBTO the strategic footing to engage more actively with regional partners and demonstrates our alignment with the UAE’s vision of becoming a global hub for digital finance,” said Karl Naim, Chief Commercial Officer and General Manager for UAE at XBTO. “ADGM has created a forward-thinking environment that balances innovation with robust oversight – a model we are proud to be part of.”

The licence approval complements XBTO’s existing regulatory footprint in Bermuda and is part of its broader global expansion strategy, with the next regulatory milestone being its anticipated entry into the UK market.

The company was an active participant in Hub71’s specialized digital assets cohort before receiving their in principle license approval back in 2024. Peter Abou Hachem, Head of Growth and Strategy, Hub71, said, “We’re proud to see XBTO, a global leader in digital assets, secure their 3A license and scale from Hub71 to serve the world. Their move to Abu Dhabi reflects a clear shift toward the Middle East – one of the fastest-growing and most liquid markets globally. XBTO’s focus on regulatory excellence and innovation embodies the caliber of founders we back. As more startups choose our ecosystem to launch and grow, we remain committed to helping them scale with speed and impact.”

AMINA Crypto bank revenues from UAE grow by 150 percent

AMINA Crypto bank revenues from UAE grow by 150 percent

AMINA Bank AG, a global crypto bank licensed in Switzerland and the UAE, announced its financial performance for 2024, with 69% surge in revenue to $40.4 million with revenues from its Abu Dhabi operations growing 150% year on year and Hong Kong office accelerating 570%. Currently assets under management ( AUM) are $4.2 billion a 136% increase.

Franz Bergmueller, CEO of AMINA Bank said, “Our global, client-first strategy has delivered exceptional results in 2024 and proves how the market responds when you put your clients at the center of your business. I’m incredibly proud of our team’s tenacity and focus, which led to quarterly profitability in Q4 2024 – a pivotal milestone that confirms the value of our approach. With our current group geographical footprint – spanning multiple jurisdictions, offering 24/7 trading capabilities, and maintaining zero default in our lending book over five years – we are uniquely prepared to support our clients through the fast-paced changes of the crypto industry.”

As per the press release, AMINA’s self-funded approach and operational excellence in the past three years has placed the bank at a sustainable competitive advantage delivering $801 million in net new assets (NNAs) in 2024 along with 40% growth in derivatives revenue driven by client demand for risk management solutions.

Significant technology investments have been made under the new CTO leadership to develop a proprietary crypto banking platform and a modern online and mobile experience, all launching later this year. Supported by a scalable and API-driven architecture, these platforms support B2C, B2B, and B2B2C models while delivering seamless secure client integration and rapid adaptability to market demands, ensuring both AMINA and its clients remain agile, as the industry continues to evolve.

“Our strong financial fundamentals underpin this exceptional growth trajectory, demonstrating our strength and agility to support our clients through any market conditions,” added Mike Foy, CFO of AMINA Bank. “AMINA’s Liquidity Coverage Ratio is 228%, up from 219% in 2023. In addition, our CET1 capital ratio, which compares a bank’s capital against its risk-weighted assets, is more than double the regulatory requirement at 34%, despite an increase in risk-weighted assets as a result of our expansion.”

With the acceleration of institutional adoption and demand for regulated solutions, AMINA has established itself as an essential infrastructure provider at crypto’s critical inflection point. AMINA Bank has attracted almost 20 B2B2C partners including some of Europe’s largest private banks, with expectations to reach 30 partners by year-end.