Lebanon wont get USAID if its not on the blockchain

Lebanon wont get USAID if its not on the blockchain

As the United States President Donald Trump overhauls USAID with a new name as well as a proposed integration with Blockchain, Lebanon whose USAID funds were semi frozen might need to integrate Blockchain into its digitization strategy if it wants to be able to get USAID in the future.

President Donald Trump in a recent speech at the Digital Asset Summit in New York, plans to restructure USAID and rebrand it as U.S. International Humanitarian Assistant placing it under the Secretary of State’s authority.

This is in line with Elon Musk’s call to put the U.S. Treasury department on the blockchain as well, considering it would create efficiency and help to decrease costs in government. His view is that the transparency and immutability of the blockchain technology, which ensures all transactions are visible for everyone to see for the rest of time, would eradicate alleged fraud.

Blockchain to be incorporated into USAID


As per a memo circulating among State Department staff, Trump wants to integrate blockchain technology into USAID’s procurement system to enhance security, transparency, and traceability in aid distributions.


It would leverage a blockchain to trace aid distributions and enforce payment models based on outcomes rather than inputs. “All distributions would also be secured and traced via blockchain technology to radically increase security, transparency, and traceability,” the memo reportedly reads, adding that such an approach would encourage innovation and efficiency.


The President also reportedly wants cryptocurrency and blockchain technology to feature heavily in its operations. USAID has been under scrutiny from the Trump administration since the establishment of the Department of Government Efficiency (DOGE), led by Elon Musk.

Lebanese USAID grants semi frozen

The U.S. president froze USAID payments in a January 20th under an executive order. The freezing also effected Lebanon which in 2024 alone received a total of $219 million in assistance from USAID of those $17 million came from the U.S. State Department with military aid accounting for 4% of the total funding and with remaining funds primarily supported humanitarian relief ($91 million) and education ($71 million).


The news of the freeze has had a negative effect on NGOs and their employees in Lebanon even though it was temporarily lifted in February 2025.


There are two major issues that will challenge Lebanon’s ability to received USAID, the first is level of historic corruption in Lebanese government and even claims of corruption within the NGO community, as well as lack of transparency, while the second is the lack of a digital infrastructure that can integrate Blockchain, AI, and other technologies such as digital payments into the web of aid or investment funds to the country.
If USAID will utilize blockchain and crypto, it will need to add the entities that funds are provided with to the blockchain as nodes to be able to track where money has been spent and if it has been spent correctly leading to results.

New Lebanese Cabinet under Salam discusses digital transformation

The new Lebanese Cabinet, under Prime Minister Nawaf Salam is discussing digital transformation in the public sector, after enacting the first Ministry of AI in Lebanese government.
As per news reports, a committee will be formed to oversee coordination between Lebanese Ministries, even though the digitization theme has been in discussion for years. Several previous sessions addressed this issue, dating back to the government’s adoption of the Lebanon Digital Transformation Strategy 2020-2030.


Lebanon’s Prime Minister Nawaf Salam emphasized the government’s commitment to establishing a neutral, transparent, and efficient state administration as a cornerstone of governance. He stressed that “there is no state without an administration,” as it serves as the backbone of governance and a key tool for serving citizens.
He announced that the government formed a ministerial committee to study and modernize the public sector, along with another committee to examine digital transformation in public administration.


Lebanon still has one of the most outdated governmental services sector, where almost everything needs paperwork and in person visits.


Despite this, some ministries have taken independent steps to integrate technology into their services. In 2021, the Ministry of Labor launched an online platform for work permit applications for foreign nationals. The Interior Ministry introduced an electronic criminal record service, allowing citizens to request and receive documents through OMT centers across Lebanon. The Ministry of Justice has also advanced its digital services, enabling lawyers and citizens to create online accounts on the official judicial services platform for easier access to information and remote application submissions. Most recently, the Ministry of Economy introduced an online licensing system for market and exhibition organizers in Lebanon.


Yet all these are remnants of what other governments in the region and globally were doing in the early 2000s. Previous discussions on a CBDC launch and regulation of crypto have never seen the light.

Lebanese Ministry of Health dabbles with Blockchain


The only Ministry that has dabbled with Blockchain has been the Lebanese Ministry of Health which launched MediTrack back in December 2021. The first phase was used to track medicine for Cancer and chronic illness patients whose treatment is costly. Twenty hospitals from across Lebanon attended the training at Rafic Harriri International Hospital.

Minister Abyad in a statement at the time,” The MediTrack Solution will first be utilized for medicine related to high cost treatments such as cancer and other chronic diseases. It is essential in tracing the movement of medicine and will decrease the effects of the financial crisis that Lebanon is going through because it will stop the smuggling of medicine across the border as well as stop the storage and monopolization of these medicines ensuring it gets to the patient and only the patient.”


The Minister noted that this was carried with support of World Health Organization and European Union. In September of 2021, The Lebanese Ministry of Public Health signed a five year agreement with rfxcel, part of Antares Vision Group a solution provider in digital supply chain traceability solutions, to provide a Blockchain enabled GS1-compliant traceability hub to protect the entire pharmaceutical supply chain in the country. The Blockchain enabled solution will be implemented by rfxcel’s partner Medical Value Chain (MVC), the Bahrain subsidiary of US-based AVC Global. MVC

The Future of Lebanon will depend on Blockchain, AI, and datacenters


Future of Lebanon depends on receiving investments from around the globe and the region, and for this to happen, the Lebanese government has to show not only an appetite for reforms, but also a platform that brings transparency and trust. Once again Blockchain, AI, datacenters, become the only relevant solution to bureaucracy corruption and favoritism.


Smart contracts, public access to information on the blockchain, digital asset payments either in CBDCs or stablecoins will eliminate the waste, bureaucracy and corruption that has crippled the Lebanese state for decades, as well as restore trust and confidence in the political and governmental operation of the country.

Anything less than that will not be accepted as the United States and countries in the GCC and Arab world embrace blockchain, AI, digital assets, and the future.

UAE Phoenix Group announces crypto mining revenues of $107 million

UAE Phoenix Group announces crypto mining revenues of $107 million

Phoenix Group PLC (ADX:PHX), ADX-listed blockchain and crypto mining entity saw crypto mining revenues of $107 million in 2024, compared to $32 million in 2023 and $5.4 million in 2022. This represents a1852% increase over two years.

The company’s total gross revenue across all verticals reached $206 million. Phoenix Group’s proactive operational efficiencies and strategic initiatives, including global expansion and diversification, have paved the way for sustained profitability and growth.

Commenting on the 2024 results, Munaf Ali, CEO & Co-Founder, stated, “These results are a testament to our unwavering commitment to innovation and strategic growth on a global scale. The past year has been pivotal for Phoenix Group, marked by significant expansion and enhanced profitability. We are not simply navigating the digital asset revolution – we are shaping it. With a strong foundation and a clear vision, we are confident in delivering continued value to our shareholders and stakeholders worldwide.”

The company achieved a total comprehensive income of $ 219 million and a net profit after tax of USD 167 million. Total assets stood at $962 million, along with earnings per share (EPS) recorded at $0.028, reinforcing Phoenix Group’s continued profitability and shareholder value growth.

Some of the reasons for the increase include improved profitability from self-mining. Gross margins rose to 24% in Q4 2024, up from just 5% in Q3 2024, driven by an average 37% increase in Bitcoin price and a 6% improvement in efficiency improvement mainly coming from sites in the US and Canada. In addition Phoenix Group also advanced its crypto mining operations to Ehtiopia.

In addition, processing power maintained a robust contribution of 15.0 EH/s to the Bitcoin network, with its market share holding steady at 1.9%. The company’s preliminary results remain subject to external audit, with audited consolidated financial statements expected by February 14, 2024.

Unregulated UAE based Cryptocurrency Financial services admits to fraud

Unregulated UAE based Cryptocurrency Financial services admits to fraud

UAE based but unregulated, Cryptocurrency financial services firm CLS Global, has pleaded guilty to charges stemming from a U.S. undercover operation targeting fraud in the crypto sector. USA federal prosecutors announced that CLS will admit to manipulating the market for a digital token created at the FBI’s direction.

The investigation, known as “Operation Token Mirrors,” was the FBI’s first attempt to create its own digital token and a fake cryptocurrency company as part of a broader strategy to identify fraudsters in the crypto market. CLS is one of three market makers and 15 individuals charged last year by federal prosecutors in Boston as a result of the probe.

In court filings, CLS acknowledged providing illicit services to the FBI-backed NexFundAI token, which ran on the Ethereum blockchain. Prosecutors said the firm engaged in wash trading—sham transactions intended to artificially boost the token’s trading volume and price.

Under the terms of the plea agreement, CLS will plead guilty to two fraud-related counts, pay $428,059 in penalties, and withdraw from cryptocurrency transactions involving U.S. investors. The company will also be required to certify its business practices annually and agreed to settle civil charges brought by the U.S. Securities and Exchange Commission.

Filipp Veselov, CEO of CLS Global, stated, “We recognize that there may be areas where we can improve our processes, and we are open to constructive dialogue with regulatory authorities.” The company added that it actively works to restrict engagement with U.S. clients.

This case is part of a broader DOJ crackdown on crypto market manipulation, with other firms like CLS Global, and ZM Quant also facing accusations of inflating token volumes. These firms allegedly engaged in similar practices, making tokens appear more active and valuable than they were, often selling them at inflated prices to outside investors.

Dubai authorities broke up two major money laundering operations

This comes as Dubai authorities, in collaboration with key federal authorities, have successfully broken up two major international networks conducting money-laundering operations worth a total of $174 million (AED641 million). The Dubai Public Prosecution referred an Emirati national, 21 British nationals, two Americans, a Czech national, and two companies owned by the Emirati national to the Criminal Court of First Instance at Dubai Courts. The individuals and entities face charges of possessing illicit funds of AED461 million as well as forgery of official documents and their use.

In another successful operation, a collaboation between Dubai Economic Security Centre and the Public Funds Prosecution in Dubai disrupted an international organized crime network involved in money laundering operations worth $49 million (AED180 million) using cryptocurrencies. The Dubai Public Prosecution has referred the case involving a network of 30 individuals and three companies to the Money Laundering Court at Dubai Courts. The network, which conducted complex money laundering operations worth AED180 million using cryptocurrencies, operated across the UK and Dubai. Investigations revealed that the network laundered cash in the UK through unlicensed cryptocurrency intermediaries present in the UK and Dubai.

The accused, identified as two Indian nationals and one British national, orchestrated the scheme, which included proceeds from illegal activities such as drug trafficking, fraud, and tax evasion in the UK. A meticulously planned operation led to the arrest of the accused and the freezing of bank accounts used for money laundering activities.

The success of these complex operations was made possible through the combined efforts of the Public Funds Prosecution in Dubai, Dubai Economic Security Centre, Dubai Police’s Anti-Money Laundering Unit, the UAE Financial Intelligence Unit, Dubai Customs, and the International Cooperation Department at the UAE Ministry of Justice.

His Excellency Essam Issa Al Humaidan, Attorney General of Dubai, commended the Public Prosecution, law enforcement agencies, and partnering local and federal agencies for conducting coordinated meticulous investigations that led to the successful dismantling of the sophisticated international money laundering networks. He underscored the significance of these efforts in tackling complex financial crimes, protecting the national economy, and enhancing financial stability. His Excellency reaffirmed Dubai’s commitment to enforcing anti-money laundering laws, combating organized financial crime, and strengthening international cooperation to uphold global financial integrity.

Dubai Police succeed in addressing 500 money laundering cases

Dubai Police successfully addressed 500 money laundering cases from 2022 to 2024, underscoring their vital role in the UAE’s efforts to combat organized and transnational crime. Working closely with international law enforcement agencies, these efforts have led to investigations involving over AED 4 billion, including $16 million (AED 60 million )in virtual assets.

Lieutenant General Abdulla Khalifa Al Marri, Commander-in-Chief of Dubai Police, highlighted that these accomplishments reflect the UAE’s ongoing commitment to fighting money laundering and strengthening global partnerships to tackle financial crimes.

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.

Tether holdings of U.S. treasury bills surpasses that of UAE

Tether holdings of U.S. treasury bills surpasses that of UAE

Tether stablecoin on its 10th anniversary announced that it was one of the top 20 largest buyers of U.S. Treasury bills, surpassing the holdings of UAE. The company also announced that it had surpassed 350 million users just a decade after its 2014 launch.

According to recent data released by the company, Tether’s user base expanded by 24% over the past year alone, jumping from approximately 282 million users in October 2023 to its current level. This growth is even more striking when compared to October 2022, when the platform had roughly 141 million users, less than half of today’s figure.

With a current market capitalization of $119.8 billion, Tether’s USDT token significantly outpaces all other stablecoins in circulation.

The company reports substantial holdings in U.S. Treasuries, positioning itself as a significant player in government securities markets. “As of its Q2 2024 Attestation, Tether had direct and indirect exposure to over $97 billion in U.S. Treasuries,” the company stated. “This makes Tether one of the top 20 largest buyers of U.S. Treasury bills, surpassing the holdings of countries like Germany, the United Arab Emirates, and Australia.”

Tether argues that its significant Treasury holdings strengthen the dollar’s international influence, with USDt serving as a trusted digital representation of the world’s reserve currency.

Tether recently announced it would be launching a UAE Dirham backed stablecoin.

UAE regulated crypto custodian Komainu chosen by Nasdaq

UAE regulated crypto custodian Komainu chosen by Nasdaq

UAE regulated Komainu, diigtal asset custodian is now a Core Custodian for Nasdaq’s suite of Crypto Indices. Nasdaq’s Core Custodian requirements are designed to ensure the security and integrity of digital assets.

Key criteria include, bankruptcy remoteness which entails legal protection and segregation of client assets in the event of custodian insolvency,   regulatory compliance which entails licensing by reputable regulatory bodies. Komainu is regulated by Dubai’s Virtual Asset regulatory Authority. Also included in the criteria that allowed Komainu to be chosen is the advanced security practices for private key generation and segregated storage, cold storage, risk management that offers a comprehensive frameworks for operational and custody risk mitigation.

In addition criteria also include asset recovery, auditing, and insurance protection.

“We are pleased to be selected as a Core Custodian by Nasdaq, a testament to our commitment to institutional-grade security and operational excellence. This partnership validates our approach to digital asset custody and aligns perfectly with our mission to become the preferred gateway to digital assets for institutional investors. At Komainu, we’ve built our foundation on the very principles Nasdaq demands, ensuring that institutional investors can engage with digital assets confidently and securely.”

Komainu, was the first VASP in UAE to be granted a full virtual assets service provider license by Dubai’s virtual asset regulatory authority in UAE. The license was issued on August 18th 2023.

The announcement comes as the first Ethereum spot exchange-traded product (ETP) goes live on Nasdaq. The product is called the iShares Ethereum Trust ETF. It can be identified by its ticker symbol ETHA. Nasdaq and BlackRock collaborated extensively, crossing both regulatory and operational hurdles, to successfully launch ETHA.

UAE nuclear and blockchain expert appointed as advisor to Sustainable Bitcoin protocol

UAE nuclear and blockchain expert appointed as advisor to Sustainable Bitcoin protocol

U.S. based Sustainable Bitcoin Protocol (SBP), which aims to unlock Bitcoin’s potential to become the most transparent and sustainable asset has appointed UAE national, an entrepreneur and pioneer in nuclear energy technology, space industry and digital assets Ali AlNuaimi.

Ali Alnuaimi, will hold the position of advisor at Sustainable Bitcoin Protocol. As per the Xpost of SBP, “Ali brings a wealth of experience to Sustainable Bitcoin Protocol. His visionary leadership in launching the UAE’s 1st nuclear reactor & integrating blockchain technology into the energy & financial sectors is a testament to his expertise in sustainable #energy & technological innovation.”

The post adds, “Ali’s pioneering work in leveraging blockchain for energy sustainability aligns perfectly with the company’s objectives, promising to accelerate the adoption of #cleanenergy solutions in bitcoin mining.”

AlNuaimi holds other advisory roles in well renowned entities in the digital asset, AI and Blockchain fields. He is an advisor at Buildr.ai, Marathon Digital, Gigaenergy, and Mysten Labs, the creators of Sui Blockchain.

He is also the Founder and Managing Director of AI firm Shafra.

SBP enables investors to hold verifiably sustainable BTC through the introduction of a new environmental commodity derived from clean energy bitcoin mining, called the Sustainable Bitcoin Certificate (SBC). SBC are paired with BTC 1 for 1 by investors. SBC financially incentivizes Bitcoin miners to use verified clean energy sources.

Finally, SBP’s certificate allows Bitcoin to become fully sustainable with transparent clean energy use without disrupting the fungibility of BTC.

Sustainable Bitcoin Protocol is turning environmental sustainability into an appreciating commodity, in turn supporting clean energy bitcoin miners and helping investors reach their ESG goals.

SBC are a new environmental commodity specifically designed to align Bitcoin mining with climate action. SBC incentivize verified clean energy use and waste methane mitigation, as well as mobilize capital from investors toward the energy transition.

The SBP aims to bring in new revenue and energy transparency by mining Bitcoin with clean energy.

UAE has become a hub for Bitcoin mining, whether with Marathon Digital in Abu Dhabi, or Phoenix Technology, could this be the starting point for digital assets mining, using nuclear energy available in Abu Dhabi?

Binance CEO says little in his 100 days letter

Binance CEO says little in his 100 days letter

On the first of March 2024, Binance’s CEO Richard Teng, wrote a public letter entitled “My First 100 Days Leading Binance”. While he covered the growth in user base reaching 178 million registered users, and the $3 billion in net inflows between November 2023 and February 2024, he didn’t cover the regulatory woos still facing Binance, and for that reason what he didn’t write is seemingly as important and what he did write.

In his letter he states, “Indeed, our user-focused DNA continues to be the driving force behind people’s trust in Binance and the corresponding growth of our user base, with more than 178 million registered users as of today. Moreover, since our resolutions with US regulators, we continue to demonstrate a very strong financial performance. As reported by Bloomberg based on the data from DeFi lama, we recorded net inflows of more than $3 billion between late November and late February, outpacing what our biggest competitors took in over the same period.”

When he did speak about regulation he acknowledged once again that regulation is an indispensable part of the lifecycle of all innovative sectors. He also noted that robust regulatory frameworks must be built on basic principles of maximizing protection for users while fostering a safe and sustainable ecosystem that can grow responsibly.

In his one note with regards to licensing, he states that over the past three months, (100 days) Binance has made “significant headway” in negotiating licenses and authorizations.

The only result he had to put on the table was Gulf Binance, an exchange and brokerage platform in Thailand, a joint venture between Binance and Gulf Innova. Gulf Binance successfully launched its full operations, extending access to digital assets to potentially millions of Thai crypto users and crypto-curious.

What was not said in the 100-days letter is as important as what was said. For example, Richard Teng didn’t speak about any of the licenses that were currently underway, or of the issues still plaguing Binance in other jurisdictions.

When it comes to MENA region, while Binance holds a license in Bahrain, to date it has not been able to receive its full VASP license from Dubai’s virtual asset regulatory authority. This stall comes as more and more crypto brokers and exchanges are receiving licenses in the UAE, one of which is M2 in Abu Dhabi and several others in Dubai including CoinMENA, and OKX.

OKX which has grown its market share over the past year, also just received an in-principle approval for a Major Payment Institution license from the Monetary Authority of Singapore (MAS), and officially launched its Turkish exchange in February. OKX has rapidly expanded globally, launching localized platforms in markets like Brazil.

While Binance for example was absent from applying for a license in Hong Kong. 24 companies vied for licenses to operate digital-asset exchanges ahead of the looming May deadline. Hong Kong attracted players such as Bybit, OKX, and Crypto.com. Since then, Hong Kong’s markets regulator has recently warned the public about the crypto exchange ByBit and several of the products it offers to investors.

The latest TokenInsight report reveals that 2023 witnessed shifts in market share and trading volume among top exchanges, with Binance’s numbers decreasing from 54.2% to 48.7% while OKX’s and Bybit’s increasing by 4.3% and 2.2%, respectively. While Binance still holds number one position in terms of market share according to CoinMarketCap, Bybit now holds number three and OKX fourth.

Teng also doesn’t mention the ongoing battle in Nigeria. Most recently, Nigerian authorities are urging Binance to provide details about its most prominent 100 users within the nation amidst a continued clampdown on the platform. The request is a focal point in discussions between Binance and Nigeria, with the government perceiving the exchange as a key obstacle hindering its attempts to strengthen the national currency, the naira.

In response to the crypto exchange’s attempts to engage in dialogue with Nigerian authorities, two senior executives, Tigran Gambaryan and Nadeem Anjarwalla, were reportedly detained by local prosecutors. Notably, the executives remain in custody despite Binance’s decision to delist all naira transactions and halt peer-to-peer naira transactions in late February.

Then there is Binance U.S., where the SEC alleged Binance.US was not abiding by the terms of a consent order in its case against the U.S.-based crypto exchange and its global parent. As per the SEC the company did not prove to the SEC’s satisfaction that Binance global employees did not have access to U.S. customers’ assets.

Consequently, the 100-day letter shows that Richard Tengis is nothing like his predecessor CZ. Teng would rather stay quiet to the hurdles facing the company within the last 100 days, obstacles that most likely will have an effect on license applications in countries such as the UAE.

As he talks of success and how it should not be taken for granted, and of his plans to welcome in institutional investors offering them the range and quality of services that would make them as he says, “stick around for the long haul”, one cannot but wonder if the 200-day letter will be written.

UAE regulated crypto exchange expands to 11 states in the USA

UAE regulated crypto exchange expands to 11 states in the USA

In a recent statement on the X platform ( formerly Twitter), The CEO of BackPack, UAE regulated crypto exchange, announced that the crypto exchange had expanded to reach 11 US states, including California, Colorado, Indiana, Missouri, Wyoming and others.

CEO Armani Ferrante outlined plans to consolidate the exchange’s presence in the US, saying, “Today, we beginning our journey to bring Backpack Exchange into the USA. It’ll be slow. It’ll be steady. It’ll be hard. But it’ll be worth it. If we don’t support your state yet, hold on. We’ll get there. This is something that will take years to complete. But we’re committed to doing it right.”

The exchange, currently in its beta phase, facilitates spot trading activities and intends to diversify into derivatives, margin trading, and more as it secures additional licenses globally.

Backpack was co-founded by Can Sun, former general counsel at FTX, and Ferrante, previously and a software developer at Alameda Research.

The Backpack Exchange platform boasts multiple licenses across global jurisdictions, including the United Arab Emirates (UAE), Lithuania, Australia, and the United States.

In October 2023, BackPack Web3 non-custodial XNFT wallet and exchange received a full license by Dubai Virtual asset regulatory authority allowing it to run a regulated crypto exchange in UAE. Backpack, which was considered one of top 30 best crypto wallets in 2023, was developed by Coral. It offers XNFTs built on Solana Blockchain.

Backpack Exchange is set to launch in private beta for its community members in November before going live to the public in Q1 2024.

UAE based Trek Labs Ltd FZE, will launch under the name Backpack Exchange. This license only covers Backpack Exchange and not any of the other virtual asset products and services offered by Backpack.

Blockchain consulting firm enters MENA with ivolve technologies in UAE

Blockchain consulting firm enters MENA with ivolve technologies in UAE

Nisum is a global digital consulting firm based in Silicon Valley which leverages over 20 years of industry expertise in digital strategy and engineering, data-driven insights and analytics, blockchain solutions, customer-centric experiences, business agility, and software development, has entered the Middle East market through a partnership with iVolve.

This strategic partnership between Nisum and iVolve unites a strong duo of global technology firms offering their clients access to a wide array of industry-leading services, including private and public cloud consulting, Kubernetes and OpenShift consulting, DevOps and application modernization, cyber security services, and more.

iVolve Technologies is a UAE cloud consulting company specializing in a wide range of cutting-edge cloud-native technologies. With a focus on Application Modernization, Automation, Kubernetes, Red Hat OpenShift, DevOps, GitOps, DR, Migrations, and Public Cloud solutions.

“iVolve’s established regional footprint and offices in the UAE and KSA align seamlessly with Nisum’s goals, fostering collaboration and innovation tailored to local needs. iVolve’s advanced cloud capabilities enhance Nisum’s technological landscape, providing a competitive edge. In return, Nisum contributes specialized expertise, particularly in application development. The partnership creates a robust value proposition for both entities,” said Salman Kassim Mohammady, Pakistan Country Head at Nisum.

“At iVolve Technologies, we’re thrilled to announce our strategic partnership with Nisum. This collaboration propels us to provide clients with cutting-edge technology to deliver business applications, amplified software development services, and the unmatched expertise of Nisum’s seasoned architect team. We eagerly anticipate the growth of our partnership and the collective impact on our clients,” said Mr. Amin Ali Amin, COO & MD of iVolve Technologies.

This strategic partnership marks a new era for Nisum and iVolve as they join forces to contribute to the growth and technological advancement of the Saudi Arabian and Middle Eastern markets.