UAE M2 crypto exchange to offer crypto lending in 2025

UAE M2 crypto exchange to offer crypto lending in 2025

UAE licensed crypto exchange M2, has announced that it will be introducing new products and services including crypto lending in 2025.

The press release noted that M2 has refocused its treasury division to serve high-net-worth individuals (HNWIs), family offices, and institutional clients with bespoke offerings. The company has also expanded its structured products team, recruiting specialists to enhance its capabilities.

In terms of the upcoming product line of services, M2 will be offering what is called enterprise earn, a white-label solution that enables enterprises to deliver market-leading yields directly to their customers—unlocking new value and revenue streams for businesses.

It will also be offering a crypto lending product that it will launch this month in January 2025. The solution will allow users to borrow stablecoins against their crypto assets, preserving ownership while enhancing liquidity.

Finally the crypto exchange will be offering its M2 Card which it will launch in Q1 of 2025. The Crypto debit card enables users to seamlessly manage and spend their digital assets based on personal preferences.

In October 2024, Stefan Kimmel, the CEO of M2, regulated crypto exchange out of Abu Dhabi UAE, moved on to a board position and was replaced by Saadeddine Zaher. As per the announcement, Stefan will remain an integral part of the M2 family as he joins the Board of Directors and takes on a new role within the broader Group, where he will focus on the development of digital asset projects.

UAE licensed Backpack Exchange acquires FTX EU

UAE licensed Backpack Exchange acquires FTX EU

UAE licensed Backpack Exchange, a global cryptocurrency exchange has acquired FTX EU, the MiFID II-licensed former European arm of FTX. In a Coindesk article, it noted that BackPack acquired FTX EU for $32.7 million.

As per the press release, the acquisition which was approved by the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC), marks a major milestone in Backpack’s global expansion and commitment to delivering secure, regulated trading solutions across Europe.

Backpack EU is planned to go live in Q1 of 2025. The crypto exchange will offer a full suite of crypto derivatives throughout the European Union including perpetual futures.


With the acquisition, Backpack’s new EU arm will offer a full suite of crypto derivatives throughout the European Union including perpetual futures, a market where no regulated crypto derivatives currently exist, as unregulated offshore exchanges have been forced to wind down their unlicensed European operations.

Armani Ferrante, CEO of Backpack Exchange, commented: “As many international exchanges exit the European Union, becoming a MiFID II-licensed entity demonstrates our dedication to meeting the highest regulatory standards and is a significant step to bringing transparent, secure, and regulated crypto trading to an underserved European market.”

As part of the acquisition, Backpack EU will undertake responsibility for distributing the previously court-approved FTX bankruptcy claims to FTX EU customers.

Mr. Ferrante further noted, “Customer restitution is a crucial step to rebuild trust and confidence in the industry, and Backpack is committed to returning FTX EU customers’ funds as fast and as safely as possible.”

In addition to compliant product offerings, Backpack EU will provide seamless integration with traditional payment rails including instant, low-cost Single Euro Payments Area (SEPA) payments and wire transfers in major currencies across the region.

In February 2024, The BackPack raised $17 million in a series A round led by PlaceHolder VC.

Abu Dhabi Chamber of Commerce to launch blockchain working group

Abu Dhabi Chamber of Commerce to launch blockchain working group

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) plans to launch seven new working groups aimed to develop the private sector, promoting leadership and boosting Abu Dhabi’s business ecosystem that include AI, Blockchain and digital assets, as well as digital gaming and others.

As per the press release, these working groups focus on enhancing the private sector’s capacity, reflecting their aspirations, and channelling their voice to relevant stakeholders across key economic sectors.

The working groups explores seven key fields including precious metals and jewellery, chemicals production, Artificial Intelligence (AI), interactive and digital gaming, banking and financial services, blockchain and digital assets, as well as media, entertainment and gaming.

The Abu Dhabi Chamber of Commerce previously identified over 126 opportunities for the private sector to develop, through their engagement with the current working groups that span across various sectors. These working groups often host group meetings and workshops to discuss topics related to each sector and enhance their contribution to socio-economic development.

His Excellency Shamis Ali Khalfan Al Dhaheri, Second Vice Chairman of ADCCI ,Managing Director, said, “Through the new seven working groups, the Abu Dhabi Chamber aims to contribute to the Emirate’s economic aspirations by fostering a dynamic and diverse business ecosystem, solidifying Abu Dhabi’s position as the leading hub for business and investment.”

Al Dhaheri emphasized the Chamber’s commitment to coordinating with all stakeholders to provide a platform that fosters cooperation, knowledge exchange, and opportunities for business growth in Abu Dhabi.

To further strengthen the role of startups in the national economy, the Chamber is also establishing a dedicated team that brings together representatives from startups, innovation centres, business incubators and accelerators, venture capitalists, Research and Development (R&D) centres, and the public sector to address their challenges.

Estonia and UAE to enhance healthcare sector in UAE with Blockchain security solutions

Estonia and UAE to enhance healthcare sector in UAE with Blockchain security solutions

The Estonian Ministry of Social Affairs has partnered with the UAE to develop innovative solutions in the digital health sector using blockchain technology.

As per the press release, the partnership aims to address future challenges and create added value in the UAE’s healthcare system, leveraging Estonia’s leadership in digital health to improve the quality and efficiency of medical services in the UAE. It is designed to help the UAE adopt advanced digital systems, including e-prescriptions, artificial intelligence, and blockchain technology, to improve services and ensure the security and confidentiality of health data.

Janika Merilo, Head of the Digital Health and Care Department at the Estonian Ministry of Social Affairs, expressed her enthusiasm for the collaboration, saying, “We are pleased to announce this strategic partnership with the UAE, which represents a global model for digital transformation. We are committed to sharing our expertise in digital health to support the UAE’s efforts in developing a sustainable healthcare system for the future.”

Merilo emphasized that Estonia’s experience in digital transformation has shown how technologies like e-prescriptions and blockchain can revolutionize healthcare delivery.

Since adopting a comprehensive digital health system in 2008, Estonia has become a world leader in this field, managing over 40 million electronic health records. The system facilitates more than 2.3 million monthly interactions between doctors and patients, with 99% of prescriptions issued electronically. This digital approach has saved Estonia an estimated 2% of its annual GDP by reducing paperwork and enhancing efficiency.

Estonia’s use of blockchain technology to protect health data from cyber threats aligns with the UAE’s emphasis on improving cybersecurity in healthcare systems. This collaboration aims to build a safer and more sustainable health system in the UAE.

Estonia and UAE will work together to enhance security through blockchain will foster trust in the healthcare system, and ongoing innovations will contribute to building a sustainable, advanced healthcare model for the UAE.

UAE and USA retail investors to increase investments in crypto in 2025

UAE and USA retail investors to increase investments in crypto in 2025

In an eToro survey, published December 24th, on UAE retail investors, it found that UAE retain investors plan to increase their cryptocurrency investments by 2025. In fact 37% of retail investors plan to do so, while 40% plan to increase their investments in stocks, bonds and commodities, while 38% plan to invest in real estate.

This survey covered 1,000 retail investors in the UAE, 54% of whom listed financial goals as their main New Year’s resolutions for 2025, including investing in stocks, cryptocurrencies, and real estate.

The survey also showed that 51% of respondents plan to increase their savings or investment amounts, and 41% plan to develop more comprehensive budgeting and spending tracking strategies. Meanwhile, 32% want to increase their income through side jobs, and 28% are considering changing jobs to earn higher salaries.

66 percent of retail investors in USA will increase allocation in crypto in 2025

Bret Kenwell of eToro discussed a survey that was conducted on 1,000 retail investors in the United States. 61% of respondents affirmed that the bull market will persist.

In addition, confidence in AI stocks is also high, with 16% anticipating that they will continue their substantial increase into 2025, while 42% anticipate more incremental increases in their share prices.

Analyst Bret Kenwell said, “Tech often serves as a leadership group for US stocks, and with mega-cap and AI-related stocks garnering strong momentum as Q4 draws to a close, retail investors are looking for that to continue in 2025. Given how well markets have performed and how well these companies are doing, it’s no surprise that investors are optimistic.”

The re-election of Donald Trump, a pro-crypto president, has inspired substantial adjustments in retail investors’ portfolios. 55% of investors have adjusted their strategies. Of those that are planning on adjustments, 66% are increasing their allocation to crypto, a more popular option than US stocks 50%.

Bret Kenwell explained that Crypto has done really well. He further pointed out that Bitcoin has doubled its price for two consecutive years.

Blockchain cybersecurity entity partners with Abu Dhabi Blockchain center

Blockchain cybersecurity entity partners with Abu Dhabi Blockchain center

The Abu Dhabi Blockchain Center (ADBC) and Verichains, an entity in finance and blockchain cybersecurity, have partnered to support blockchain developers, businesses, and institutions throughout every stage of their journey, from early development to operational maturity. This partnership reflects a shared vision to provide a secure foundation to promote and develop blockchain technologies in the region, unlocking its potential for economic growth and technological leadership.


“Blockchain innovation can only thrive when it’s built on a foundation of trust and security,” said Abdullah Dhaheri, CEO of The Blockchain Center Abu Dhabi. “This partnership with Verichains brings unparalleled expertise to the region, ensuring that blockchain companies have access to the technical support needed to develop and grow their project. Announcing this initiative at Bitcoin MENA 2024 underscores our commitment to fostering a secure and vibrant blockchain ecosystem for the MENA region.”

Through its comprehensive security services, Verichains will enable developers to tackle key challenges at every stage of the development cycle:

Early Design and Architecture Review: Assisting teams in designing secure and scalable blockchain systems from the ground up, helping projects avoid costly codebase rework.

Audits and Pre-Deployment Assessments: Identifying vulnerabilities in the protocol and smart contracts before projects go live, providing technical assurance for developers, users and investors alike.

Post-Deployment Services: Offering regular penetration testing, threat modeling, and security assessments to keep live projects resilient to emerging risks.

Incident Response Services: Providing rapid response and mitigation services for projects facing security threats, minimizing downtime and protecting assets.

“We are thrilled to bring our world-class security expertise to foster a secure and trusted blockchain ecosystem in the region, fully supporting ADBC’s vision of driving innovation and positioning Abu Dhabi as a global leader in blockchain technology and decentralized ecosystems”, said Thanh Nguyen, Founder of Verichains.

The Abu Dhabi Blockchain Center has signed several partnerships over the past few months. One of them was with Aethir to push forward AI, blockchain and gaming startups.

UAE among the top 10 global Blockchain countries with 340 patents

UAE among the top 10 global Blockchain countries with 340 patents

In a recent study by ApeX exchange the UAE came in among the top 10 globally ranked countries for blockchain and crypto technology. The UAE had a score of 73.2 with 340 blockchain patents. UAE also has 414 blockchain-related jobs, providing opportunities in a budding ecosystem.

Singapore took the lead, with the highest composite score of 85.4, with over 2,400 jobs related to blockchain technologies. Additionally, it has one of the largest concentrations of crypto exchanges globally, with 81 platforms.

Hong Kong ranks second in blockchain and cryptocurrency technology with a composite score of 82.7. Its financial infrastructure integrates blockchain seamlessly, supported by more than 1,100 jobs in blockchain technologies and a strong presence of crypto exchanges.

Estonia ranks third with a composite score of 81.5. It has the smallest population among the countries studied but still achieves impressive results with 95 blockchain patents, 149 blockchain-related jobs, and 52 crypto exchanges.

Switzerland secures fourth place in blockchain and cryptocurrency technology, with a score of 80.2. The country’s leadership in decentralized finance is backed by 440 blockchain-related jobs and 32 crypto exchanges.

The United States is fifth, scoring 79.8, and leading the way in blockchain and cryptocurrency technology, achieving the highest numbers across all key metrics. With 32,000 blockchain patents and more than 17,000 jobs related to blockchain available. The country hosts 166 crypto exchanges, providing platforms for trading and utilizing cryptocurrencies.

Canada ranks sixth in blockchain and cryptocurrency technology, with a score of 77.3. The country offers over 1,200 blockchain-related jobs, which shows the demand for skilled professionals in the sector. It also has 1,200 blockchain patents, while its 32 crypto exchanges provide ample platforms for cryptocurrency transactions.

UAE Ministry of Interior and the FSRA regulatory arm of ADGM partner to fight virtual asset crimes

UAE Ministry of Interior and the FSRA regulatory arm of ADGM partner to fight virtual asset crimes

The Financial Services Regulatory Authority of ADGM (FSRA) and the UAE Ministry of Interior, have partnered to coordinate and combat financial crimes in the virtual asset, crypto realm.

As per the press release, the agreement aims to facilitate the exchange of information, strengthen risk mitigation frameworks, and support the national strategy to safeguard the financial system against evolving threats in the digital asset landscape.

Commenting on the importance of proactive cooperation in combating financial crime, Emmanuel Givanakis, CEO of the Financial Services Regulatory Authority, said, “The FSRA is focused on collaboration with UAE authorities to proactively fight against financial crime. Financial crime is constantly evolving, and it is crucial that regulators stay ahead of potential threats. Our goal is to build long lasting partnerships across the UAE to ensure prevention of financial crime in financial services including the use of virtual assets. We aim to protect the financial ecosystem and lead regulatory efforts in line with international best practices and federal laws. We also seek to raise awareness internally and locally to ensure proper understanding of financial crime risks and assist actively in the efforts conducted on a national level”.

This MoU establishes a framework for cooperation between the FSRA and the Ministry of Interior, supporting the exchange of information and coordination on matters related to financial crime and virtual assets. It also aims to bolster the security and efficacy of the UAE’s financial system while enabling knowledge-sharing initiatives, joint training programs, and strengthened investigative efforts.

This agreement comes at a time when Chainalysis recently reported that In 2024, crypto platforms experienced a 21% increase in stolen funds compared to last year, totaling an estimated $2.2 billion. This marks the fifth year on record with losses exceeding $1 billion.

Private key compromises were the leading method of theft, representing approximately 43.8% of stolen crypto.

Tokenized Gold now in UAE with Fasset and Own Foundation

Tokenized Gold now in UAE with Fasset and Own Foundation

Fasset, a UAE regulated digital asset platform focused on enhancing financial inclusion in high-growth markets, has introduced ORO, the first application built on its Ethereum Layer 2 network, Own, in partnership with The Own Foundation. Through tokenization, ORO users will be able to invest in smaller, more affordable increments of gold ($GOLD), leveraging blockchain’s transparency, security, and yield-generation features, all with minimal fees and no storage costs. The offering will be launched in early 2025.

Gold, long regarded as a reliable store of value, has gained renewed significance as a hedge against inflation and economic uncertainty. Since 2008, high-growth markets such as India have doubled their central bank gold reserves, underscoring the asset’s appeal. However, traditional gold ownership remains costly and inaccessible for many, often involving high entry thresholds and complex storage requirements. ORO addresses these challenges by leveraging blockchain to offer secure, fractionalized ownership with minimal fees and no physical storage needs.

“ORO is a showcase of how Own’s infrastructure can deliver meaningful financial solutions, particularly for markets underserved by traditional systems,” said Mohammad Raafi Hossain, Co-Founder of Fasset and Own. “By combining blockchain’s transparency with gold’s enduring value and an innovative yield product, ORO redefines what’s possible for a trusted asset.”

Each ORO token represents one ounce of 99.99% fine gold securely stored with blue-chip custodians and fully insured. Tokens can be redeemed for physical gold starting at $85 increments or exchanged for USDC for added liquidity. Moreover, ORO offers a highly competitive financial opportunity by combining gold’s historical appreciation—averaging around 8% annually—with a 3-4% APY earned through staking $GOLD on the platform. This potential total yield of approximately 12% significantly outpaces traditional savings accounts, which typically offer returns of just 3-4%, and provides a better alternative to conventional gold investments.

Joining the waitlist ensures early access to product updates, beta testing opportunities, and potential rewards ahead of ORO’s full 2025 launch.

ORO was founded by Usman Saleem, a member of the ARY family, renowned for their century-long expertise and leadership in the gold industry in the UAE and beyond. Building on this heritage, Saleem launched ORO to expand access to gold investments, combining trusted industry knowledge with blockchain-powered financial solutions.

“Own’s commitment to creating meaningful financial opportunities in regions like Asia and the Middle East makes it the perfect platform for ORO,” said Saleem. “Together with Own, ORO is unlocking the full potential of gold by introducing innovative use cases for an asset trusted for millennia. By bringing gold on-chain, we make it inflation-resistant, DeFi-compatible, and staking-ready.“

Own is managed through The Own Foundation, which is powering Fasset’s mission to expand access to decentralized finance globally, lower costs, and enhance scalability while ensuring compliance in key markets. Founders Mohammad Raafi Hossain and Daniel Ahmed created Own to address challenges like inflation, remittance costs, and limited financial access.

Crypto.com appoints UAE National as president of its UAE Operation

Crypto.com appoints UAE National as president of its UAE Operation

Crypto.com has announced the appointment of Mohammed Al Hakim, a UAE national, as president of its UAE operation for the company’s growth and diversity in the region.

Al-Hakim will head up business development, strategic partnerships, and financial innovation to Crypto.com. According to the press release, he has been key in driving over $800 million in foreign investments into Dubai. Al-Hakim has raised millions in sponsorships for UAE government initiatives and launched programs aimed at empowering Emirati professionals.

Kris Marszalek, CEO of Crypto.com, expressed confidence in Al-Hakim’s leadership, stating that his expertise will be pivotal in advancing the company’s goals in the UAE. “The UAE is a critical market for us, and Mohammed’s leadership and experience will help us build strong relationships and achieve sustainable growth in this key region,” said Marszalek.

Al Hakim shared his enthusiasm for joining Crypto.com, emphasizing, “The UAE’s leadership in fostering a forward-thinking regulatory framework has set the stage for exponential growth, and I look forward to contributing to Crypto.com’s mission by driving innovation and delivering exceptional value to our users across the UAE and GCC.”

“We have a number of growth initiatives and exciting product launches in the pipeline for 2025 in the UAE and wider GCC region and we’re delighted to have Mohammed onboard to spearhead these,” said Eric Anziani, President and Chief Operating Officer of Crypto.com.

Al Hakim is also a member of the Mohammed Bin Rashid Center for Leadership Development’s 7th cohort. This program is focused on developing future leaders, reflecting his dedication to innovation and leadership in the UAE and GCC.

He worked as a Director for the Corporate Management and Loyalty and Incentives Programs at the UAE’s Ministry of Human Resources and Emiratisation.

The UAE is now one of the top global hubs for digital assets, ranking third in the MENA region with over $30 billion in cryptocurrency transactions from July 2023 to June 2024.

This announcement follows Crypto.com’s recent acquisition of Orion Principals Limited in Abu Dhabi and the launch of its AED Wallet, which allows users in the UAE to easily deposit and withdraw in local currency. Additionally, Crypto.com partnered with Mastercard to offer a prepaid debit card to eligible users in the GCC.

Few weeks ago, Bahrain’s Crown Prince and Prime Minister, His Royal Highness Prince Salman bin Hamad Al Khalifa, met with the President and Chief Operating Officer of Crypto.com, Eric Anziani, at Gudaibiya Palace where he presented His Royal Highness with the company’s new Mastercard prototype and is regarded as the first of its kind in the Middle East.

In September 2024, Crypto.com, received a crypto payment service provider license from the Central Bank of Bahrain allowing it to offer e-money and fiat-based payment services regionally, including prepaid cards.

Crypto.com had already received a crypto exchange license from Dubai’s virtual asset regulator in UAE, and considers this license as part of its expansion plans in the GCC region.