After takeover by Scintilla, registered crypto exchange TOKO rebrands in Dubai

After takeover by Scintilla, registered crypto exchange TOKO rebrands in Dubai

Scintilla, a platform delivering onchain solutions has bought out TOKO FZE registered and licensed out of Dubai UAE by VARA ( Virtual assets regulatory authority) as a crypto exchange and broker.

Originally developed within DLA Piper’s Law& innovation portfolio, the former TOKO brand has evolved into Scintilla with a fresh identity, new leadership, and groundbreaking product offerings.

Scintilla offers a range of tokenization services that bring liquidity, transparency, and efficiency to traditional financial sectors. By enabling the tokenization of various financial products, real estate, and new legal funding instruments, Scintilla empowers investors to access previously untapped and illiquid asset classes, fostering inclusivity and transforming how the world invests.

Advisory Services:
The gateway to successful market entry. From initial opportunity assessment to strategic development of game-changing tokenization-based solutions.
Use Case Development:
Bringing products to life. From initial POC development and iteration towards MVP all the way through to the full market launch.
Broker/Dealer Services:
Creating new markets. Regulated primary market trading, ensuring the highest levels of trust and security within the tokenization space.
Exchange Services:
Universal participation. Seamless, secure secondary trading of tokenized assets, with industry-leading technology and compliance standards.

“Our relaunch marks the beginning of an exciting new chapter for Scintilla and the wider industry. We are committed to pushing the boundaries of what is possible in digital finance while ensuring our solutions are underpinned by strong regulatory compliance,” said Tim Popplewell, CEO of Scintilla. “With our new suite of products and services, we are empowering investors to transform the way they manage and access value.”

Jean-Pierre Douglas-Henry, Managing Director, Sustainability and Resilience at DLA Piper, added, “Innovation is a key strand in our business strategy. As our business focuses on developing and nurturing innovations that add significant value to our clients through our Law& innovation program, it is fantastic to see this solution spun out into the thriving digital asset space for the next stage of its growth and development.”

UK National Crime Agency disrupts multi billion dollar laundering network

UK National Crime Agency disrupts multi billion dollar laundering network

The United Kingdom’s National Crime Agency (NCA) disrupted a multi-billion dollar money laundering network, which provided services to a wide range of illicit actors, including Russian and international elites, cybercriminals, and drug gangs.

The NCA’s efforts, named “Operation Destabilise,” identified two Russian-speaking networks (Smart and TGR) leading these operations, which have thus far led to 84 arrests of individuals linked to these groups and the seizure of more than 20 million Euros in cash and cryptocurrency.

Today’s disruption was an internationally-coordinated effort, involving organizations including the U.K. Metropolitan Police Service, France’s Direction Centrale de la Police Judiciaire, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC), the Drug Enforcement Agency (DEA), and the Federal Bureau of Investigation (FBI), among others. This collaboration led to the arrest of another individual linked to Smart and TGR who facilitated global money laundering.

Additionally, OFAC sanctioned four entities and five individuals associated with TGR; OFAC included cryptocurrency addresses for two of the individuals:

George Rossi (AKA Maksakov, Yury, Georgy Rossi, or Heorhii Rossi): A Ukrainian national who founded TGR Partners, is the director of TGR Corporate Concierge LTD, and likely controls the TGR Group.
Elena Chirkinyan (AKA Yelena Norayrovna Chirkinyan or “Elle”): A Russian national who is Rossi’s direct subordinate, a partner at TGR Partners, the CEO of TGR Corporate Concierge LTD, and the manager of TGR DWC-LLC.
Andrejs Bradens (AKA Andrejs Carenoks): A Latvian national associated with several TGR networks.
Nikita Vladimirovich Krasnov (AKA “ACESCOM”): A Russian national who laundered cash and cryptocurrency on behalf of elite clients.
Khadzhi Murat Dalgatovich Magomedov (AKA Magomedov or Murat): A Russian national who laundered cash and cryptocurrency on behalf of elite clients.
TGR Partners: A Moscow-based organization founded by Rossi that provided services to a wide range of illicit actors, such as cryptocurrency trading, foreign exchange payments, and concierge services.
TGR Corporate Concierge LTD: A U.K.-based network controlled by Bradens. Chirkinyan is its CEO.
TGR DWC-LLC: A UAE-based network operated by Chirkinyan that provided services to help elites obscure the source of ill-gotten funds.
Siam Expert Trading Company Limited: A Thailand-based network associated with Bradens.
Pullman Global Solutions LLC (Pullman Global): A Wyoming-based organization owned by Bradens.
The cryptocurrency addresses in OFAC’s designation include a deposit address for Chirkinyan at a mainstream exchange (TDdbRFoBTEmE3qiR69Y6rKRSG1hoF65QaE) that has received over $146,000, and a high-volume wallet controlled by Magomedov (0x1999ef52700c34de7ec2b68a28aafb37db0c5ade) that has processed more than $200 million. The wallets have received high-value transfers, reflecting bulk cash transfers and transactions conducted on behalf of TGR clients.

Operation Destabilise determined that Smart, TGR, and their related networks often transferred money across borders by swapping cash and cryptocurrency. In some instances, Smart and TGR would receive funds in crypto from a client, facilitate a transfer in cash, and take a percentage of the amount. They would also follow a similar process in reverse, exchanging cash for crypto. It was unlikely that these clients would overlap, given that Smart and TGR were operating across 30 countries, and used a network of international controllers and couriers to actually perform the handovers.

The NCA also detailed that Smart and TGR provided illicit financial services on the streets in the U.K. to traditional crime groups by exchanging their cash proceeds for crypto, which they then used to further their criminal activities by paying for drugs to international cartels. Unfortunately, these networks enable serious crime in the U.K. and other countries, which threatens the country’s financial integrity and, in many cases, results in physical violence.

VARA the virtual asset regulatory authority in Dubai issues alerts for seven crypto entities

VARA the virtual asset regulatory authority in Dubai issues alerts for seven crypto entities

Dubai’s Virtual Assets Regulatory Authority (VARA) has issued alerts for seven crypto entities claiming to be registered and licensed in Dubai. The entities include, Koto Crypto, Finchain, Crypto Force, Coin Cashy, BTC Bay, XT, and Stabit.

The first entity is Koto Crypto based out of DMCC (Dubai Multi Commodities Center). As per VARA the company which claims to be registered in Dubai UAE, is carrying out non regulated virtual asset activities operating without a proper license.

As per the notice, “Any activities related to virtual assets conducted on this platform are therefore not in compliance with VARA Regulations. Engaging with unlicensed platforms that are not in compliance with VARA Regulations exposes users to significant financial risks and potential legal consequences for violating regulatory requirements, or criminal laws.”

The same applies to Finchain Payment Service Provider L.L.C. and Finchain Technologies DMCC also claiming to be registered out of DMCC. On checking FinChain website, it is no longer operational, claiming they are undergoing maintenance.

Also mentioned is Crypto Force registered as well in DMCC, which is conducting un-regulated virtual asset activities.

In addition VARA issued alerts for Coin Cashy, BTC Bay, whose website is also no longer active, as well as XT.Com crypto exchange which was recently hacked.

XT.com is a centralized cryptocurrency exchange established in 2018 and is registered in the Seychelles. The exchange facilitates trading of more than 1,000 digital currencies, with daily trading volumes of around $3.4 billion.

As for the 7th crypto entity put under alert status is Stabit, associated to Genesis Digital Assets Commercial Brokers Co. L.L.C, also offering un-regulated crypto trading services.

All these entities are unlicensed as per VARA and as such are not operating legally in the jurisdiction.  As such any promotion, advertising, or solicitation related to these seven entities has not been approved by VARA, and the platform is therefore prohibited from offering, promoting, or marketing any Virtual Asset products or services in Dubai or to its residents.

VARA advised investors and consumers to avoid using them and to exercise caution when considering interactions with unregulated platforms.

The regulator also notified users that access to these websites might be restricted without prior notice. As per the regulator, “It is recommended to take immediate necessary measures to ensure protection of user assets.

The alerts come after VARA has announced in October that it issued cease-and-desist orders, along with accompanying fines, to 7 entities for operating without the required licenses and for breaching marketing regulations.

Dubai based SEE Institute partners with Cardano Foundation

Dubai based SEE Institute partners with Cardano Foundation

SEE Institute, the hub for sustainability education, research, and business incubation located in The Sustainable City in Dubai, UAE has partnered with the Cardano Foundation to integrate blockchain technology into its global sustainability efforts.

As per the announcement, the partnership aims to support the advancement of sustainable solutions through blockchain-powered initiatives in the key sectors of food, energy, water, products, mobility, and waste. Through this partnership, SEE Institute and Cardano are positioning blockchain as a key enabler of sustainable development, driving innovation and global adoption in key sustainability sectors.

It will see the duo introduction of a Professional Diploma in Sustainable Blockchain – a first-of-its-kind program that combines SEE Institute’s expertise in sustainability with Cardano’s cutting-edge blockchain knowledge. This six-module course will equip professionals to utilize blockchain innovations to tackle global sustainability challenges.

The parties will also benefit from The Sustainable City’s Living Lab, a research hub for developing projects that explore blockchain’s potential in sustainability sectors.

“Blockchain technology is transforming transparency and traceability within the sustainability sector. By integrating blockchain into projects and initiatives, we create accurate, verifiable records of sustainability data and enable real-time tracking of goods and materials throughout supply chains,” said SEE Institute’s Founder & Chairman Engineer Faris Saeed after signing the deal with Cardano Foundation’s CEO, Frederik Gregaard.

“This decentralized approach builds trust, enhances data accuracy, and empowers scalable, data-driven solutions to address critical challenges in food, energy, water, products, mobility, and waste—ultimately supporting global net zero emissions targets,” stated Saeed.

“That goal includes working across all stakeholders in society to achieve blockchain literacy, from individuals to enterprise. Our partnership with SEE Institute—a Fortune 500 company and one of the largest public companies in the world – highlights both the appetite for blockchain education as well as the growing reach of the Cardano Foundation and its mission,” he stated.

In September 2024, Cardano partnered with The Dubai Blockchain Center (DBCC) to advance blockchain education and technology adoption across the Middle East and North Africa (MENA) region.

ABO Digital invests $5 million in UAE Blockchain enabled Binary Holdings

ABO Digital invests $5 million in UAE Blockchain enabled Binary Holdings

ABO Digital, a digital asset investment firm has invested $5 million in UAE based The Binary Holdings, a UAE-based technology powerhouse valued at $16.9 billion.

As per the release, this investment will power The Binary Holdings to accelerate its mission of transforming the global digital economy. With a robust user base of 169 million across multiple verticals, The Binary Holdings is reshaping how businesses, consumers, and investors interact in the digital landscape, and is targeting one billion users by 2025.

The company seeks with this investment to drive the expansion of a decentralized open network that seamlessly integrates with Web2 infrastructure while unlocking the full potential of Web3, empowering businesses and users to benefit from digital services such as cross border payments, gaming, digital social and other compelling services.

The Binary Holdings has contracts with seven leading telcos and a growing network of non-telco partners. At the center of the Decentralized Open Network for Distribution and Commerce is The Binary Network, where users, businesses, and service providers can seamlessly connect and transact across borders.

By using BNRY, the network’s single digital currency, The Binary Network is redefining the way value flows between participants, ensuring that payments are frictionless and accessible to users worldwide. This bold vision of using a single digital currency across its vast ecosystem enables true interoperability and cross-pollination amongst its diverse range of partners in both the telco and non-telco sectors, allowing for commerce to flow in a way that was previously unimaginable, eliminating the barriers between platforms and national borders.

The platform’s ability to facilitate seamless transactions and interactions across multiple industries has already garnered attention from some of the world’s largest companies. With contracts signed with seven major telcos, The Binary Holdings is on track to reach 1 billion users by December 2025, becoming a true global player in the decentralized economy.

In Q2 2025, The Binary Holdings will launch Millenia, a digital bank aimed at simplifying cross-border payments and remittances for users within The Binary Network. Designed to empower seamless transactions for individuals and businesses, Millenia will offer a low-cost, fast, and transparent service powered by the secure decentralised and interoperable infrastructure of The Binary Network, with BNRY as the primary transaction digital currency.

The Binary Holdings’ blockchain infrastructure is gaining strong traction among dApp developers. Through partnerships with over seven Layer 1 and Layer 2 blockchain networks, The Binary Holdings has created unique bridges which provide dApps immediate access to Binary’s expanding user base of 169 million, projected to reach one billion by 2025, creating unmatched engagement and utility.

“The Binary Holdings is at the forefront of creating a new global standard for digital distribution and commerce,” said Siddharth Sahi, CBO, The Binary Holdings. “With the launch of the Binary Digital Bank, support from ABO Digital, and an expanding network of partners, we’re excited to continue pushing boundaries and bringing innovative solutions to our global community.

A Tech Powerhouse in Southeast Asia and the Middle East and a Global Leader in the Digital Economy through Mass Adoption

The Binary Holdings is rapidly establishing itself as one of the region’s most valuable and innovative tech companies, with a valuation of $16.9 billion. With strong partnerships, an expanding user base, and a commitment to essential infrastructure, The Binary Holdings is on track to become a global digital economy leader. Its blockchain technology drives innovation in decentralized finance (DeFi), NFTs, gaming, and digital commerce at scale, building a robust ecosystem that redefines business, payments, and global interactions.

“We are excited to collaborate with The Binary Holdings at such a pivotal time in the evolution of the digital economy” said Talal Samy, Investment Associate at ABO Digital. “The company’s ability to innovate, scale, and bring real-world solutions to a global audience is unmatched. Their groundbreaking work in creating seamless global interoperability and fostering mass adoption of decentralised technologies aligns perfectly with our mission, and we are proud to support them as they continue to shape the future of Web3.”

Abu Dhabi Blockchain Center signs MOU with Canadian University

Abu Dhabi Blockchain Center signs MOU with Canadian University

Velocity, the entrepreneurship center of the Canadian University of Waterloo, the number one school in Canada for entrepreneurs has signed an MOU ( Memorandum of Understanding) with The Abu Dhabi Blockchain Center.

The recently launched Blockchain Center in Abu Dhabi seeks to become a global hub for Blockchain and Web3. As per the press release, the collaboration with the University and Velocity will empower Waterloo students, alumni and entrepreneurs with a global network of industry experts and capital to accelerate innovative applications of blockchain in healthcare, government, finance, energy and e-commerce.

The Abu Dhabi Blockchain Center was founded by Waterloo alum and serial entrepreneur Mickey Areibi (GBDA ’18) and expert Abdulla Al Dhaheri. The center focuses on training, events and entrepreneurship to drive blockchain adoption. It aims to empower businesses, governments and individuals for sustainable growth. As digital transformation accelerates, blockchain technology offers transparency, security and efficiency.

“As a proud Waterloo native, I’m thrilled to partner with the University of Waterloo, a global leader in entrepreneurship and talent. Together, we’re bringing an ecosystem of blockchain support to Waterloo, fostering the next generation of blockchain entrepreneurs and innovators to drive startup growth and creating transformative co-op opportunities. This partnership not only strengthens the connection between two thriving ecosystems but also builds a world-class hub for blockchain solutions — rooted in the talent and spirit of where it all began for me, at Waterloo,” says Areibi.

“We’re excited to partner with the Blockchain Center in Abu Dhabi to create unique opportunities for our students and entrepreneurs in blockchain commercialization, education and innovation,” says Vivek Goel, President and Vice-Chancellor at the University of Waterloo.

“As we advance UWaterloo’s vision for a better future for humanity and our planet, we look forward to working together to explore the role of blockchain technology to unlock opportunities in health data, cybersecurity and beyond. Together, we are building a world-class hub for blockchain solutions and driving transformative change around the world.”

The partnership will also integrate with Waterloo’s co-operative program.

“Our partnership with the University of Waterloo combines their legacy of innovation and entrepreneurship with our global network, empowering founders to tackle big challenges and drive lasting impact. Together, we’re fostering a new wave of high-impact founders and trail blazing innovators,” says Dhaheri.

Mbank launches first blockchain enabled national debit card in UAE

Mbank launches first blockchain enabled national debit card in UAE

In celebration of the UAE’s 53rd National Day, UAE based Mbank (Al Maryah Community Bank) , a digital bank, launched Jaywan Cards, the UAE’s first National Debit Card, on its blockchain enabled Mbank Wallet platform.

As per the press release, the national debit card is powered by advanced blockchain technology. It empowers customers with the ability to pay seamlessly at all POS terminals across the UAE, transfer money internationally with ease, and enjoy zero fees for cash withdrawals. By leveraging the security and efficiency of blockchain, Mbank sets a new benchmark in financial convenience and inclusivity, reinforcing its commitment to innovation and serving the diverse needs of its customers.

The press release added, that the launch of Jaywan Cards reflects Mbank’s commitment to fostering financial inclusion, serving the local community, and enhancing its position in the UAE’s financial ecosystem.

This initiative aligns with the Central Bank of the UAE and Al Etihad Payments’ strategic timeline, supporting the introduction of over 10 million new debit cards into the UAE market over the next two years. Mbank extends its gratitude to Al Etihad Payments for their unwavering support and collaboration, which has been instrumental in bringing this transformative initiative to life and advancing the UAE’s payment infrastructure.

The Mbank Wallet offers a full suite of payment solutions, giving users the ability to manage their finances on the app while using Jaywan Cards for in-person transactions.

The Mbank Wallet is the UAE’s first national digital wallet built on decentralized blockchain technology, offering:

  • Payments Through All POS Terminals in the UAE: Jaywan Cards are widely accepted across the country for seamless transactions.
  • Instant Payments with QR Technology: Secure and quick payments for in-store and online purchases.
  • Cross-Border Transactions: International transfers facilitated through Lulu Exchange.
  • No Bank Account Needed: Customers can send, receive, and request payments using an IBAN, eliminating the need for a bank account.
  • Zero Fees for Cash Withdrawals: A fee-free experience at ATMs, ensuring greater financial accessibility.
  • Digital E-Vouchers: Simplify the process of purchasing gift vouchers from a wide range of top merchants

“As we celebrate the UAE’s 53rd National Day, we take immense pride in introducing a transformative step forward with the launch of Jaywan Cards through the Mbank Wallet,” said Mr. Mohammed Wassim Khayata, CEO of Al Maryah Community Bank. “This groundbreaking initiative is a testament to our unwavering commitment to empowering the nation’s financial landscape, enhancing customer experiences, and driving the UAE’s vision of becoming a leader in financial inclusion and digital innovation.”

He added, “With Jaywan Cards and the Mbank Wallet, we are not just redefining the banking experience but also reinforcing the UAE’s position as a hub for cutting-edge financial solutions. Our focus is on creating meaningful impacts that bring convenience and accessibility to every customer, reflecting the spirit of progress and innovation that defines our nation.”

This announcement comes after AED Stablecoin LLC stated that the Central Bank of UAE provided it with in principle approval to launch and establish its own stablecoin, AE Coin.

Deribit crypto derivatives exchange receives full license from Dubai’s virtual asset regulator

Deribit crypto derivatives exchange receives full license from Dubai’s virtual asset regulator

Deribit, a crypto derivatives exchange, will be launching its spot and derivatives trading in the UAE and migration of all activities towards Deribit’s Dubai-based entity, Deribit FZE, after it has received its full license from the Virtual Assets Regulatory Authority (VARA) of Dubai. It has received its conditional license back in April 2024.

Effective January 1, 2025, all qualified and institutional investors will be welcomed as direct clients of Deribit FZE, while retail clients will continue to be serviced by DRB Panama, now operating as a broker member of Deribit FZE.

As per the press release, this transition reflects Deribit’s focus on regulatory compliance and superior client service, leveraging Dubai’s advanced crypto infrastructure.

Client Transition Deadline: All clients must accept the new terms of service by January 1, 2025.


Mandatory KYC Refresh: Clients who do not complete the KYC process before January 1 will be placed on “Reduce Only” mode, restricting new positions but allowing the closure of existing positions. Deribit will migrate its substantial open interest, currently valued at nearly USD 50 billion, to its Dubai entity.


“Dubai has rapidly positioned itself as a global hub for digital assets, thanks to the visionary efforts of VARA and the UAE government. The city’s forward-looking regulatory environment provides the ideal foundation for Deribit’s growth and innovation. As the crypto industry matures and global regulatory needs evolve, our institutional clients require our regulated trading platform to be able to evolve with the industry. This move underscores our commitment to meeting these expectations while delivering exceptional, best-in-class service to our clients and adhering to the highest standards of transparency and compliance,” said Luuk Strijers, CEO of Deribit FZE.


Unlike other global trading venues establishing new entities, Deribit will consolidate all flow and activities into its Dubai entity. Deribit FZE will be the sole platform offering trading in all our products like spot, perpetuals, futures and options as well as all post-trade activities, all of which are under the supervision of VARA.


According to the press release the migration is a testament to the company’s ongoing mission to shape the future of crypto derivatives trading, ensuring regulatory alignment, operational efficiency, and client satisfaction.

Dubai Police and BitOasis partner to enhance security efforts

Dubai Police and BitOasis partner to enhance security efforts

The General Department of Criminal Investigation at Dubai Police has signed a Memorandum of Understanding (MoU) with BitOasis Technologies to strengthen cooperation, foster partnership ties, and enhance security efforts. The MoU also aims to bolster collaboration and exchange expertise in addressing economic crimes and exploring their future trends.

Brigadier Al Shamsi highlighted the importance of partnerships between Dubai Police and private sector entities, emphasizing their role in creating predictive frameworks that align with global economic, criminal, and technological changes. “These collaborations enable the implementation of proactive measures to enhance the security system effectively and efficiently,” he said.

Al Shamsi remarked, “Dubai is a global hub for business and investment, and Dubai Police is committed to strengthening its security framework through close collaboration with internal and external partners. Our strategic plans are designed to anticipate future challenges, particularly in combating economic crimes, which have become increasingly sophisticated due to growing reliance on technology in both professional and personal practices worldwide. Therefore, we continuously adapt to these trends to ensure that Dubai remains the safest city in the world.”

As part of the partnership, Dubai Police and BitOasis will exchange expertise to proactively enhance the safety of consumers and the virtual assets ecosystem. This initiative aligns with the UAE’s National Strategy for Anti-Money Laundering and Countering the Financing of Terrorism for 2024-2027, reinforcing our shared commitment to consumer protection and innovation.

Ola Doudin, CEO of BitOasis, expressed enthusiasm about the partnership, stating that the MoU represents a significant step towards achieving shared goals through exchanging expertise and knowledge. “This agreement opens new avenues for collaboration with Dubai Police and provides an opportunity to work together on innovative initiatives and projects across various fields,” Doudin said.

She added, “We are thrilled to deepen our partnership with Dubai Police. This collaboration is a pivotal step in our mission to enhance security and trust within the virtual assets ecosystem. By uniting our expertise, we aim to proactively safeguard consumers and drive technological innovation in line with Dubai’s economic vision.”

This comes in parallel with Crystal Intelligence MOU with Dubai Police and BitOasis.

UAE Shorooq offers $8 million to startups at 1 Billion Followers Summit

UAE Shorooq offers $8 million to startups at 1 Billion Followers Summit

The 1 Billion Followers Summit, the world’s first and largest content-focused event, has partnered with UAE Shorooq a venture capitalist firm to contributed 30 million AED ($8 million) to the AED 50 million equivalent to $13.6 million in funding for the groundbreaking 1 Billion Pitches competition.

This unique competition offers startups and individuals with innovative content-focused ideas the opportunity to pitch to a panel of leading investors and companies, securing potential funding and support.

Shorooq, a leading alternative investment firm based in Abu Dhabi and regulated by the FSRA, will contribute AED 30 million ($8 million) in funding and direct investments, while the 1 Billion Followers Summit will contribute AED 20 million.

Twenty-five startups and individuals have been shortlisted for the competition’s pre-final round. Ten finalists will then compete for first and second place, receiving funding and support for their winning ideas.

The winners will be announced on the closing day of the 1 Billion Followers Summit’s third edition, hosted by the New Media Academy in Dubai from 11th to 13th January, under the theme “Content for Good.”

A jury of experts, prominent investors, and companies selected the top 25 applications based on criteria including feasibility, pitch quality, market potential, creativity, scalability, potential social and economic impact, and leadership capabilities.

Shorooq’s contribution will support participating startups and individuals who made it to the finals of the 1 Billion Pitches competition. This contribution comprises two components: direct investment and funding through in-kind services. The majority of this contribution will be allocated as direct investment in one or more finalists, depending on Shorooq’s due diligence.

In-kind services will cover essential technical resources that will add value to the winning projects, such as cloud credits.

Mahmoud Adi, Founding Partner, Shorooq, said, “We are honoured to partner with the 1 Billion Followers Summit, the world’s largest event of its kind, known for its contribution to fostering a supportive ecosystem for creative industries. We are confident this partnership will deliver funding and investment solutions that empower content creators and enhance their capabilities.”

He added, “Our collaboration with the 1 Billion Pitches competition demonstrates our commitment to driving innovation in the technology, digital, and entertainment content industries. By providing financial support to startups and individuals, we aim to foster the creation of impactful content that benefits communities.”

Alia AlHammadi, CEO of the New Media Academy, said, “The third edition of the 1 Billion Followers Summit will attract numerous creatives seeking funding and investment to transform their ideas into businesses. Our partnership with Shorooq underscores our commitment to fostering knowledge and advancing the Summit’s goals. We aim to promote the role of digital content and new media, transforming impactful content creation and the use of social media tools.”

“The 1 Billion Pitches competition aims to support creatives, startups, and content creators, motivating them to develop innovative ideas that will transform the content industry and drive the knowledge-based economy,” she added.

With a focus on fintech, software, deep tech and platforms, Shorooq’s portfolio boasts over 80 companies across 11 countries, generating over US $500 million in revenue. Some notable examples include Pure Harvest, a sustainable agriculture company growing fresh produce year-round in the Middle East; Tamara, a Buy-Now-Pay-Later platform operating in Saudi Arabia; TruKKer, a tech-driven logistics solutions provider in the Middle East; Lendo, a P2P SME lending platform for SME companies in Saudi Arabia; Mozn, an AI-powered financial solutions provider; NymCard, a digital issuer processor in the payment solutions space; Sarwa, a wealth management and trading platform; Breadfast, an online grocery platform and Prypco, a real estate ecosystem simplifying property transactions.

Projects submitted to the 1 Billion Pitches competition primarily focused on education, advanced technology and innovation, women’s empowerment, creativity, community development, literature, entrepreneurship, healthcare, social media, and creative content.

Shortlisted applicants include Bump (USA), a fintech platform empowering creators to build wealth through enterprise partnerships and creator collaboration; Atlaseek (UAE), a platform connecting travel creators, unique destinations, and travelers; Trugetherness (Singapore), a tech platform leveraging creative content to empower social causes and drive sustainable impact through collaboration between individuals, creators, and brands; Ad-Shield (South Korea), a next-generation solution helping publishers recover revenue lost to ad blockers; and SoSquared (UK): A data-driven marketplace streamlining influencer and content marketing campaigns for businesses, maximising ROI.

The list of top projects selected for the next round includes the Arabic Archive Project (Egypt), aiming to digitise millions of historical press clippings to expand access to Arabic content on local and international issues; Hubee (Brazil), a design subscription platform providing growing brands and content creators with on-demand access to personalized design services and talent; PenSell (UAE), a platform revolutionizing content creation through AI-driven talent matching, blockchain-secured intellectual property, and streamlined collaboration tools and Division (UAE), which connects brands with gamers and streamers through targeted branding streams, in-game advertising, and immersive experiences.

Other shortlisted projects include HelloCreator (USA), an AI-powered SaaS platform providing creators with personalized insights and practical guidance; Eugenius (South Korea), which aims to produce TV shows including a documentary, a variety show, TV series remakes, and K-Pop music academy; Halo AI (UAE), a platform leveraging AI to connect brands with ideal creators for collaborations, streamlining the influencer marketing process; and EPL World (UAE), a platform connecting Arab fans with English Premier League content and marketing opportunities

The list also includes Shooty (UAE), an e-commerce and creative SaaS platform streamlining product cataloging, social media content creation, and delivery through cloud-based software; Ta Marboota (UAE), podcast and media platform aiming to create a safe and supporting network for Arab women; Unreel Network (UK), a collaborative collective of social media channels and creators promoting positive change through action sports and adventure travel; Voral Media (UAE), a platform empowering creators to produce authentic video reviews, fostering trust between brands and audiences; Lobster Money (UK), a fintech platform providing financial tools and credit solutions for the creator economy; Livelogue (UK), a platform accelerating the creator economy in the MEA region by offering streamlined monetization, instant cart and payment solutions; Verix (India), a blockchain and AI-powered platform for authentication and verification in the age of AI and ReadCoin (UAE), platform tokenizing literary content via blockchain, empowering readers, authors and creators of written content.

Other startups that made it to the next round include The Middle Frame (Jordan), building the first Arab image generator; Majarah (UAE), which is a dynamic startup in the media industry, specializing in content creation, production, and social media management; Stashem (USA), a trading app designed for influencers who can convert their influence into tradable shares and Tubelator (Pakistan), a Chrome extension designed specifically for YouTube, allowing users various features including converting videos to text, adding dubs and AI-created summaries.