Dubai’s VARA and Blockchain Ireland partner to advance virtual asset startups

Dubai’s VARA and Blockchain Ireland partner to advance virtual asset startups

Blockchain Ireland recently signed an MoU with Dubai’s Virtual Assets Regulatory Authority [VARA] to partner towards deepening collaboration between two forward looking jurisdictions committed to the responsible advancement of virtual assets, Web3, and emerging digital economies.

As per the LinkedIn post, the agreement aims to foster bilateral knowledge exchange and regulatory dialogue, support start-ups and scale-ups looking to expand across the EU and the Middle East, build bridges between talent, capital, and innovation ecosystems and promote policy leadership and cross-border cooperation in the virtual asset sector.

Over the past decade, economic ties between the two countries have strengthened significantly. Irish exports to the UAE have grown by 127%, with imports increasing by 3,094%. The total bilateral trade is now value at more than €2.25 billion annually.

Blockchain Ireland noted on LinkedIn, “As the global regulatory landscape evolves, we believe strategic partnerships like this are vital to shaping a safe, secure, and innovation-friendly future for the industry.”

UAE Zodia Custody, digital assets are intrinsic in UAE’s government strategy

UAE Zodia Custody, digital assets are intrinsic in UAE’s government strategy

Dominic Longman is Managing Director of Middle East and Africa at Zodia Custody noted in a monthly interview on their website, that the UAE mood for digital assets is incredibly positive and that digital assets are now intrinsic in the government’s DNA.

He notes that the UAE has ignored the hype cycle nodes and devised “a well thought-through strategy and a considered long-term path. This process has been in motion since 2015 and it’s not just about blockchain or digital assets as technologies, it’s about attracting firms that build jobs, industries and long-term value.”

He believes that because of UAE’s government structure an the regulators ADGM and VARA, the UAE can think strategically in 10–15-year arcs not in four-year election cycles.

He adds that big names like Binance and Bybit have set up regional bases, with others including Galaxy Digital making plans to move here. Prime brokerage firms, auditors, fund administrators and infrastructure providers are also following. When I arrived in 2015 there wasn’t yet a local auditor with digital assets capabilities; today, there are multiple global and regional firms that provide that expertise. This ecosystem maturity means that institutions aren’t just bringing capital – they’re enabling the full operational chain: compliance, auditing, legal, infrastructure and education.

When I speak with U.S. firms, they tell me: ‘We don’t know what the next administration will bring. But we know what the UAE’s 20-year plan looks like.’ That predictability is gold.

In terms of tokenization, Longman believes tokenizing real estate, infrastructure and bonds is one of the biggest topics. He stated, “This country is built on real estate, so that is important, but even more significant is building the next generation of tokenized financial instruments. Some very mature discussions are underway between firms, regulators, and infrastructure providers about how to tokenize everything from shopping malls to sovereign debt. Everyone’s past the hype. Now it’s about ownership, access, liquidity but with real controls in place.”

He believes the cornerstone of tokenization will be stablecoins as they are critical in these tokenization discussions. He explains, ” The region settles in dollars and the UAE Dirham is pegged to the US dollar so using USD stablecoins for trade, especially in logistics and energy, is a no-brainer. It’s faster, cheaper and removes friction. While the licensing of stablecoins ultimately sits with the UAE Central Bank, there is growing momentum across the ecosystem – including in ADGM and VARA – to enable innovation within this space. Notably, the Central Bank is now developing regulatory frameworks for AED-backed stablecoins, which could play an important role in enabling more efficient local settlement and expanding the scope of tokenized financial infrastructure within the region.”

As for the future Longman sees that tokenized securities on regulated exchanges will offer real time settlement, and 24/7 markets. He says this is beyond crypto ETFs, but about rebuilding the core of financial markets.

He says, “The UAE isn’t just aiming to be a digital asset friendly jurisdiction – it wants to be the center for tokenized finance. We’re also starting to see early signs of convergence between digital assets and AI – from the use of insight agents to develop entirely new financial products, to unlocking previously inaccessible liquidity pools. These technologies aren’t evolving in parallel anymore; they’re reinforcing one another. This is bigger than margin trading or digital asset custody. We’re talking about the future of capital markets.”

Luxury Aviation Forte Aviation in UAE to accept stablecoin payments through Deus X Pay

Luxury Aviation Forte Aviation in UAE to accept stablecoin payments through Deus X Pay

Deus X Pay, a licensed institutional stablecoin payment solutions provider, has partnered with UAE based Forté Aviation Consultants, a leading provider of bespoke global private jet charter solutions to offer cryptocurrency payment options in the form of stablecoins for its clients.

UAE Forté Aviation caters to a diverse range of needs from single flights to complex multi-leg journeys.

“Partnering with Deus X Pay allows us to elevate the customer experience by offering cryptocurrency payment options,” said Jeffrey Emmenis, Managing Partner & Chief Executive Officer. “In an industry defined by precision and exclusivity, this integration will ensure that our clients can book their travel effortlessly, reflecting our commitment to meticulous service.”

Richard Crook, CEO of Deus X Pay, emphasised the significance of this partnership, stating, “Our collaboration with Forté Aviation demonstrates a shared vision of simplifying payment processes in luxury travel. By leveraging our cryptocurrency payment solutions, we empower Forté’s clients with the flexibility and security they demand.”

The collaboration between Deus X Pay and Forté Aviation represents a significant advancement in the use of cryptocurrency in luxury aviation, setting new standards for innovation and customer experience while paving the way for exciting opportunities in the industry.

In May 2025, Crypto.com exchange, a regulated crypto exchange operating out of Dubai UAE, partnered with Emarat Energy Company to offer crypto payment options at select Emarat service stations. As per the LinkedIn post the expansion depends on regulatory approvals and customer demand.

Additionally UAE based ATS Travel, a premier travel management company, and Payhound, a Malta based regulated provider of fully regulated crypto payment solutions, also partnered to enable ATS Travel to accept cryptocurrency as a form of payment for all its services.

Aqua-Index water backed digital asset token to be launched in UAE

Aqua-Index water backed digital asset token to be launched in UAE

UAE based DMCC, the Dubai commodities free zone, signed an MOU with AQUA-INDEX, a global pioneer in water commodities trading to launch the world’s first digital asset token backed by freshwater resources.

As per the press release, this will revolutionize how water is traded, valued and managed globally.

The token – the first of its kind globally – is backed by verified, drinking-quality water stored in global reservoirs and will enable investors, hedgers, traders and the general public to trade, hold and take delivery of fresh water as a commodity. By combining financial innovation with water market expertise, the partnership offers a practical mechanism for unlocking new liquidity and transparency in global water supply chains.

Under the partnership, AQUA-INDEX will benefit from DMCC’s extensive global network, world-class services, advanced infrastructure, and leading commodity marketplace, facilitating the effective trading and investment in water assets. AQUA-INDEX will enhance the availability and exchange of knowledge around global water usage and pricing and provide access to essential trading and hedging products for DMCC and its member companies.

DMCC will not directly own or manage the token itself.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said, “Nearly half the global population experiences water scarcity for at least part of the year, yet water remains the only critical resource without a mature, regulated market. We are proud to partner with AQUA-INDEX to drive a transparent, neutral, and legally coherent structure and marketplace for water to secure the future of a resource that has long been undervalued.

This is the next clear milestone in the formation of DMCC Water Centre, where we will not only bring the conversation of water to the forefront, but also attract the sector’s leading companies to create a global centre in Dubai for water innovation, security, sustainable best practice, knowledge and education, while ensuring that the world’s most transported commodity has the ability to reach water distressed areas.”

Yaacov Shirazi, Chairman and Founder of AQUA INDEX, added, “Pricing water by the value of its usage, standardization of water by its mineral content and quality, and turning water to a new asset class for a financial trading, is a gamechanger in the world economy. It will establish new levels of water management which prevents scarcity, contamination, and lack of access.”

The Water Centre brings together WaterTech innovators, logistics providers and commodity traders under one platform.

UAE SaturnX stablecoin infrastructure provider raises $3 million

UAE SaturnX stablecoin infrastructure provider raises $3 million

UAE based SaturnX, the infrastructure provider for stablecoin-based cross-border payments, closes a $3 million seed round. The round was led by White Star Capital, with participation from strategic institutional investors. The company enables businesses and financial institutions to move money globally through an API-first platform that leverages stablecoin liquidity, smart FX routing, and regulatory-compliant payout networks. SaturnX supports cross-border payments in major remittance corridors and is rapidly expanding into Southeast Asia and Africa

Founded by Mirnas Brescic, who brings 15 years of experience in FX, treasury, and digital assets across institutions like Rain, Bitpanda and the IAEA, SaturnX serves as a behind-the-scenes API layer for B2B money transmitters, corporates and financial platforms. In just five months of operation, the company has already processed over $250 million in transaction volume, while maintaining profitability.

The capital will be used to accelerate SaturnX’s expansion into new payment corridors in Southeast Asia, including the Philippines, Bangladesh, Indonesia, Pakistan, strengthen regulatory infrastructure, and continue building its end-to-end API platform for enterprise-grade stablecoin payments.

As per the press release, with more than $600 billion in global annual remittance flows and rising demand for digital dollars in emerging markets, SaturnX is positioned to become a critical backend provider for the future of borderless payments by modernizing how money moves across borders, offering instant, low-cost stablecoin transfers for financial institutions, fintechs, and global remittance providers.

“Our vision is to connect the worlds of decentralised and traditional finance with infrastructure that brings the benefits of stablecoins to everyday financial use cases,” said Mirnas Brescic, CEO and Founder of SaturnX. “Despite considerable progress, cross-border payments are still expensive and slow. By offering a faster, cheaper, and programmable alternative, we’re helping financial partners unlock better ways to move money, starting with the world’s largest remittance corridors.”

The company pre-funds stablecoin liquidity pools in key markets, aggregates FX pricing in real time, and ensures regulatory compliance via partnerships and licensing pathways. Its flagship corridor, from the Gulf region to South Asia, collectively enables hundreds of millions in annual volume.

“We’re excited to back SaturnX at the forefront of a new payment infrastructure layer,” said Sep Alavi, General Partner at White Star Capital. “They’re operating in one of the most strategically important corridors globally, solving a massive pain point for cross-border remittances and B2B payments. Mirnas brings unmatched experience in FX, treasury, and crypto, and he’s already shown his ability to execute at speed.”

Speaking to Lara on the Block on the upcoming Genius Act for stablecoins in the USA, Brescic noted, “Regulation will bring the clarity and confidence required for a broader stablecoin adoption. It is definitely a positive development in the medium to long-term. SaturnX is stablecoin agnostic. With the regulatory clarity we see even more corporates using stablecoins to send or receive value globally. This is the market segment we want to support with our infrastructure.”


Hash AI to launch UAE crypto mining site worth $2 million

Hash AI to launch UAE crypto mining site worth $2 million

Hash AI has begun constructing a $2 million large-scale cryptocurrency mining facility in the UAE. Announced on their X channel, the company noted that the site will fully be owned by the company. Hash AI will be mining Bitcoin, Dogecoin, Litecoin and at later stages other crypto.

The AI enhanced crypto mining site will sit over 3 acres and offer 3.5 MW power with the ability to host over 1000 ASIC Miners. Hash AI expects that it will bring in revenues of $3 million annually.

The site will also include 4,000 RWA ( Real World Assets) fractions. Hash AI will make 4,000 RWA fractions from this facility available for public investment, where people can participate for as little as $500.

Hash AI noted, ” We are thrilled to announce the acquisition of a substantial plot of land in the UAE, where we will be developing an industry-leading mining facility, fully owned by $HASHAI. This expansion will allow us to scale our operations massively, significantly enhancing long-term profitability. Construction is already underway, and we are eager to share progress updates with you along the way. We look forward to unveiling the fully operational facility in July!”

Hash AI is not the first crypto mining entity to set up in UAE, there is also home grown Phoenix Group, as well as Marathon Digital.

ADGM amends crypto regulations to attract more VASPs

ADGM amends crypto regulations to attract more VASPs

The Financial Services Authority (FSRA) of ADGM has implemented amendments to its regulatory framework for digital assets. The implementation of these amendments follows extensive industry engagement and feedback received on Consultation Paper No. 11 of 2024, with an aim to make their regulations more comprehensive and simpler.

The focus of the implemented amendments is on revisions to the process whereby Virtual Assets (VAs) are accepted for use as Accepted Virtual Assets (AVAs) in ADGM, alongside appropriate capital requirements and fees for Authorised Persons conducting Regulated Activities in relation to VAs (VA Firms). The amendments also introduce a specific product intervention power in relation to VAs as well as enshrining rules that confirm our existing approach to the prohibition of using privacy tokens and algorithmic stablecoins within ADGM. Finally, the amendments expand the scope of investments in which Venture Capital Funds may invest.

The FSRA has updated the Guidance – Regulation of Virtual Asset Activities in ADGM to reflect the implemented measures and to provide further guidance to VA Firms in relation to applying the AVA assessment criteria.

Emmanuel Givanakis, Chief Executive Officer of ADGM’s FSRA said, “The implementation of these changes marks a significant milestone in the evolution of the FSRA’s framework for digital asset regulation. Through extensive consultation with industry stakeholders, we have further enhanced our framework to provide the regulatory certainty that industry participants need, while addressing the evolving risks of the digital asset ecosystem. We believe this further positions ADGM as a premier jurisdiction for digital asset-related activities and shows our commitment to fostering responsible innovation in financial services.”

Assesing the amended virtual asset regulations, Kokila Alagh noted that the amendments are a bold move to streamline digital asset regulation. She states on LinkedIN, “The Financial Services Regulatory Authority (FSRA) has transitioned from a regulator-led “Accepted Virtual Asset” approval model to a self-assessment regime by authorized VA Firms.”

She explains, this means authorised Persons (VA Firms) must self-assess Virtual Assets using enhanced AVA criteria; notification-only to FSRA before commencing activity; firms must publish and maintain a list of approved AVAs on their website; and ongoing monitoring to ensure continued compliance.

She added, ” The FSRA has also enhanced the assessment criteria for determining whether a Virtual Asset meets the requirements of being an AVA. The updated criteria basis includes, *Traceability & monitoring, *Security standards, *Market profile, *Exchange connectivity, DLT infrastructure, Innovation/efficiency and Practical functionality.”

Dubai Land Department sells $1.3 million worth of tokenized real estate

Dubai Land Department sells $1.3 million worth of tokenized real estate

After two consecutive successful sales of tokenized properties in Dubai, the Dubai Land Department and PRYPCO Mint the tokenization platform behind these sales, have sold $1.3 million worth of tokenized property deeds after tallying the two tokenized property sales in past two weeks alone. This is just the beginning, as Dubai Land Department invites interested individuals to register early and set up their accounts to take advantage of upcoming offerings before they sell out.

Dubai Land Department is seeking to unlock investment opportunities in one of the world’s most dynamic and innovative real estate destinations. In its first tokenized real estate project, DAMAC Maison Prive, valued at $653,000, it attracted 224 investors from over 40 nationalities, with an average investment amount of AED 10,714 ( $2900), and more than 6000 investors who were wait listed.

The latest and second property was sold in less than two minutes and attracted 149 investors from 35 nationalities. The one bedroom apartment in Kensington Waters, also worth $653,000, it was sold out in less than 2 minutes. Shares were offered at $544 with a wait list of 10,700 investors.

According to Amira Sajwani, the founder and CEO of PRYPCO “With our second property, we’re continuing to break down traditional barriers and offer high-quality opportunities to a broader, more diverse audience. At PRYPCO, our mission is to democratize property ownership, and this is just the beginning.”

In May 2025, Dubai Land Department launched the region’s first tokenized real estate investment project through the ‘Prypco Mint’ platform. The initiative was implemented in partnership with Prypco, the Virtual Assets Regulatory Authority (VARA), the Central Bank of the United Arab Emirates, and the Dubai Future Foundation (DFF) through the Real Estate Sandbox.

As for blockchain technology Ctrl Alt is offering the blockchain platform using XRP Ledger, while Zand digital bank is offering banking services.

In future listings, international investors will soon be allowed to participate, but for now only UAE residents and ID holders can.

DLD emphasized in their announcement that tokenized assets will represent up to 7% of Dubai’s real estate market by 2033 equivalent to $16 billion and that Prypco Mint will be at the cornerstone of this transformation.

Saudi Arabia is also starting to pilot real estate tokenization projects.

Hoko advertising agency acquires UAE metaverse company Everdome

Hoko advertising agency acquires UAE metaverse company Everdome

Hoko Agency, known for its cutting-edge campaigns for global brands including Mercedes-Benz, DP World, Hublot, Red Bull, Zegna, and LVMH, has announced the acquisition of UAE metaverse company Everdome.

As per the press release the strategic acquisition supports the growth of HumAIn Assets, Hoko’s newest venture aimed at reimagining content creation through a fusion of human creativity, artificial intelligence, and community engagement.

Since its inception in 2022, Everdome has delivered metaverse experiences for partners such as OKX and Alpine Web3, while playing a key role in initiatives like the UAE government’s Jahiz program. Their success has been driven by a nimble, Web3-native approach, community-focused storytelling, and a deep understanding of immersive digital marketing.

Through this acquisition, Everdome’s $DOME token and core leadership team will integrate into HumAIn Assets, a platform designed to reshape the way digital content, from imagery to video to copy, is commissioned, created, and delivered.

At the helm of this initiative are Bally Singh, Chairman of Hoko Agency; Scott Melker, a leading voice in Web3 media; and Everdome CEO Jeremy Lopez, who brings extensive expertise in Web3 execution, creative marketing, and community engagement.

“Our mission is simple: to deliver scalable, high-quality content without compromising on emotional resonance, timing, or creativity,” said Bally Singh. “While AI can automate much of the process, the final layer, the taste, context, and timing, remains inherently human. That’s what elevates content from acceptable to exceptional.”

HumAIn Assets is being developed to strike the right balance, leveraging AI for speed while maintaining human oversight to ensure quality and relevance. Everdome’s expertise in rapid, high-impact storytelling and immersive campaigns makes it a powerful addition to this vision.

“Web2 unlocked the creator economy. Web3 introduced true creator ownership. AI brings unprecedented speed,” said Scott Melker, Co-founder of HumAIn Assets. “The real breakthrough lies in integrating all three to build a sustainable, creator-first system. This isn’t about hype, it’s about creating the future of content production.”

“In Web3, community isn’t a buzzword, it’s the backbone,” Melker added. “When your audience becomes your collaborators, you’re not just marketing to people, you’re building with them.”

Jeremy Lopez, CEO of Everdome, commented: “Everdome was built on the belief that digital experiences can be bold, creative, and community-led. Joining Hoko and contributing to the vision for HumAIn Assets gives us the opportunity to build lasting infrastructure for the future of the creative economy.”

With this acquisition, HumAIn Assets accelerates its ambition to combine the usability and scalability of Web2 platforms, hallmarks of companies like Uber, Fiverr, and Instagram, with the transparency, decentralized engagement, and payment systems of Web3, all enhanced by the capabilities of AI.

Currently in invite-only beta, HumAIn Assets is already delivering results for select clients. With live briefs, active production, and content delivery underway, the venture is moving beyond proof-of-concept and toward becoming a new industry standard.

UAE based Akka Finance raises investment from Core Ventures

UAE based Akka Finance raises investment from Core Ventures

UAE based Akka Finance, the AI Intelligence Layer for Bitcoin DeFi (BTCFi), has received a strategic investment from Core Ventures, the investment arm of Core DAO.

As per the press release, the partnership validates Akka’s mission of leveraging AI to make DeFi easily accessible.

The new investment from Core Ventures joins a strong group of existing backers, including Ahoy Group and XVC Tech. As a portfolio company of KEY Difference Labs, Akka is building the future of Bitcoin-native DeFi by removing complexity and enabling smarter, more intuitive execution for all users.

The investment cements Akka’s role leading the AI revolution in DeFi, starting with the most popular cryptocurrency, Bitcoin. Core Ventures is a mission-driven investor who has deployed more than $1 million with the mission to bring decentralized finance to the Bitcoin blockchain.

Akka Finance launched its super-app in 2024, allowing users to interact with DeFi on ‘beginner mode’. By bringing trading, lending & borrowing and staking into one conversational interface.

Akka has 10,000 users which represent over 30% of the swap activity on the Core blockchain.

As part of its multi-chain rollout, Akka is launching a suite of predictive analytics that will solve the volatility problem endemic to crypto by allowing users to predict crypto prices in advance. The firm has also processed $80 million in transaction volume on Bitcoin DeFi.

By using a conversational interface to solve user problems, Akka’s cross-chain solution bundles numerous functions into one easy to use application. The team prepares to go beyond Bitcoin into other chains, and notes that several other partnerships and integrations are underway.

“Core Ventures’ investment is a powerful validation of our vision to make DeFi accessible to all, and recognizes the fundamental importance of Bitcoin as the most underserved blockchain,” said Ali Khoshnafs, CEO of Akka Finance. “Core is building the most secure, scalable foundation for Bitcoin DeFi, and Akka solves the complexity problem by providing a seamless intelligence layer optimized for all users. Together, we’re unlocking Bitcoin’s trillion dollar potential, making it productive and accessible for everyone.”

Core Ventures shares this enthusiasm for the future of BTCFi. “We back bold ideas that push the boundaries of Bitcoin’s utility in DeFi, and Akka Finance is a perfect example of that innovation,” said a representative from Core Ventures. “Their AI-driven approach aligns with our mission to create a scalable, secure ecosystem where Bitcoin can thrive as a cornerstone of decentralized finance.”

Founded in 2022 in Dubai, Akka Finance harnesses Dubai’s progressive regulatory environment and enjoys the government’s pro-innovation agenda.