SuiHub and VARA Dubai collaborate to support startups

SuiHub and VARA Dubai collaborate to support startups

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

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

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

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

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

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

The Middle East Stablecoin Association appoints Founder of Klumi Ventures as Co Chair

The Middle East Stablecoin Association appoints Founder of Klumi Ventures as Co Chair

The Middle East Stablecoin Association launched in May has appointed Kristiina Lumeste, Founder and SEO of Klumi Ventures, a Web3 early stage venture capital firm, as Co-Chair of the Middle East Stablecoin Association – MESA.

As per the announcement, in her new role, Kristiina will lead the Technology, Innovation & Education Committee – a cornerstone of MESA’s mission to drive the responsible development of stablecoins through best-in-class frameworks across technical infrastructure, regulatory alignment, education, and ecosystem engagement.

Klumi post noted, “At Klumi Ventures, we firmly believe that stablecoins are reshaping the global financial infrastructure, offering unprecedented efficiency, transparency, and security for institutions, governments, and markets alike. We are deeply aligned with MESA’s vision to bridge the gap between innovation and compliance, enabling stablecoins to support the future of cross-border payments, tokenized asset settlement, and the digital economy.”

The Middle East Stablecoin Association participated in panel entitled Stablecoins in the UAE, Leading not Following, during TOKEN2049


UAE Klickl, WeBank and Goldford group to develop blockchain and AI incubation program

UAE Klickl, WeBank and Goldford group to develop blockchain and AI incubation program

UAE Klickl, a regulated Web3 financial services provider, WeBank, China’s digital bank and Goldford Group have collaborated to create a cross regional fintech innovation alliance spanning across China, Hong Kong and the Middle East, which will include the development of a blockchain and AI incubation program.

The signing took place as part of a broader economic dialogue catalyzed by the official visit of a high-level delegation from Hong Kong and Mainland China to Qatar, led by Hong Kong Chief Executive John Lee.

At the ceremony, Klickl UAE CEO Dermot Mayes, Goldford Group representative and Legislative Council member Dr. Duncan Chiu, and senior executives from WeBank formally sealed the agreement—positioning the three parties to co-develop financial infrastructure across blockchain, AI, and quantum technologies.

The partnership represents the first structured initiative of its kind to link fintech ecosystems across the Greater Bay Area and the Middle East. Klickl brings its compliance-first Web3 financial capabilities and deep understanding of the Gulf regulatory landscape; WeBank contributes leading financial technology from Mainland China; and Goldford Group offers integration strength across Hong Kong’s tech innovation ecosystem.

The alliance will jointly pursue six core areas of cooperation, Blockchain & AI Incubation Platform, startup acceleration Across Asia–MENA, next-Gen Financial Services for Cross-Border Use Cases, digital Transformation for Legacy Financial Institutions, localized Fintech Deployment for Gulf Markets, quantum Technology Exploration in Financial Applications and Klickl’s Institutional Role which will be to bridge Regulation, Markets, and Innovation.

“This partnership is more than symbolic—it is strategic,” said Michael Zhao, Founder and CEO of Klickl. “As the only homegrown Web3 financial services provider in the region, we are proud to help bridge capital, compliance, and technology across three economic hubs. This alliance reflects not only our infrastructure readiness, but also the trust we’ve built with institutions across Asia and the Middle East.”

Klickl’s institutional credibility is backed by its status as a policy-aligned fintech entity, having participated in recent sovereign economic missions to Malaysia, Poland, and Japan. Its regulatory licensing through ADGM (FSP) and VASP registration in the European Union positions Klickl to operate across key financial jurisdictions, providing end-to-end Web3-native solutions including digital wallets (Klickl4U), institutional accounts (KlicklONE), payment rails (KlicklPay), stablecoin services, asset custody, and trading infrastructure.

HODL 2025 ends with a move to KSA in December

HODL 2025 ends with a move to KSA in December

HODL 2025 concluded its highly Dubai edition at Madinat Jumeirah, bringing together a powerful mix of blockchain pioneers, Web3 innovators, DeFi leaders, regulators, and institutional investors from across the globe. The summit, held in alignment with the Dubai FinTech Summit as part of the broader effort to shape the future of finance in the region, reinforced HODL’s position as a leading platform for collaboration and innovation in the decentralized economy.


This edition marked a major milestone in the HODL journey exploring the Future of Decentralized Finance and Web3 in the MENA Region

Over two days, the summit featured 50+ sessions that explored next-generation themes like:
• Blockchain Market Trends 2025
• Innovative Governance for Virtual Assets
• AI x Blockchain: Converging Technologies
• DeFi Evolution and Banking Disruption
• Tokenization of Real-World Assets
• NFTs and the Metaverse Frontier

Attendees included key decision-makers from governments, blockchain networks, crypto exchanges, venture funds, and DAOs, along with founders, CTOs, developers, and asset managers.

“HODL 2025 in Dubai brought together a powerful mix of visionaries shaping the future of digital finance. As we head to Riyadh, we aim to build on this momentum and further accelerate Web3 and blockchain innovation across the region.” Mohammed Saleem, Founder & Chairman of Trescon, the organisers of HODL.

During the Crypto Rulebook: Global Best Practices & Regulatory Measures panel discussion, Dyma Budorin expressed that “We want to have the best ecosystem for entrepreneurs to run their business.”


In the same session, Samir Safar-Aly emphasized that “Regulations need to catch up and work together.”


During the Insuring the Future of Crypto: Bridging Risk & Innovation in the Digital Asset Economy session, Joseph Ziolkowski stated that “Insurance has been a bedrock component of sustainability; it is a $6 trillion market.”

HODL 2025 also hosted high-level networking sessions and investor roundtables, providing a fertile ground for deal-making and strategic partnerships. The event was supported by an impressive roster of sponsors and featured in leading media publications HODL 2025 is proudly supported by leading media outlets, including CNN Business Arabic as the Official Media Partner, Khaleej Times as the Exclusive Media Partner, Entrepreneur Middle East as the Ecosystem Partner, Arabian Business as the Business Media Partner, and ZEX PR Wire as the Digital PR Partner — collectively amplifying its global reach..


HODL 2025 is powered by a strong lineup of sponsors, with Liquid Loans.io as the Platinum Sponsor, Coinvoyage as the After Party Sponsor, Tata Consultancy Services (TCS) and Gofaizen & Sherle as Gold Sponsors, Facephi as the Silver Sponsor, and Skygate Network, FMCPay, Pays Solutions, and PEP as Bronze Sponsors.

HODL 2025 ended with an announcement of HODL Riyadh KSA in December of this year. This comes as Saudi Arabia rapidly emerges as a global tech and finance hub, driven by bold initiatives under Vision 2030, the country is making significant strides in the digital asset and blockchain space. With regulatory clarity evolving and institutional interest accelerating, Riyadh presents a strategic next stop for the HODL platform.

HODL Riyadh will serve as the most important gathering of Web3 leaders, investors, policy-makers, and innovators in the Kingdom – connecting the region’s ambitions with global blockchain ecosystems. This upcoming edition is expected to focus on:
• Regulatory frameworks supporting virtual assets and tokenization
• Institutional DeFi and digital asset adoption
• Public-private collaboration on blockchain infrastructure
• Web3 innovation in financial services, real estate, and logistics

UAE Ghaf Labs and Bybit exchange to drive crypto adoption in MENA

UAE Ghaf Labs and Bybit exchange to drive crypto adoption in MENA

Bybit, the world’s second-largest cryptocurrency exchange by trading volume which currently holds an in principle approval from Dubai regulator, and UAE based Ghaf Labs, a MENA-based Web3 boutique advisory and consultancy firm, signed a Memorandum of Understanding (MOU) to enter a multi-year strategic partnership that aims to drive crypto adoption, ecosystem development, and real-world utility across the Middle East and North Africa (MENA).

This partnership is on a mission to position the region as a global Web3 hub by enabling innovation, supporting regulatory clarity, and fostering meaningful use cases that integrate blockchain into daily life.


Ghaf Labs, backed by Ghaf Capital Partners, offers tailored advisory and incubation services to Web3 ventures across MENA. With its strong regional network and regulatory insight. Together, Bybit and Ghaf Labs will provide equity-free grants, startup support, and access to strategic resources for ventures exploring blockchain, AI, and sustainability, central to the region’s digital transformation.

“Our partnership with Ghaf Labs is rooted in a shared vision for the MENA region, one where crypto isn’t just adopted, but lived,” said Helen Liu, COO of Bybit. “From developer tooling to lifestyle integration, we’re building the bridges that bring crypto into everyday life.”

The collaboration will also launch a series of education initiatives designed to nurture local Web3 talent. These include university partnerships, bootcamps, and developer hackathons, all aimed at empowering the next generation of blockchain builders.

Additionally, both parties will co-develop educational content to improve Web3 literacy across Arabic- and English-speaking communities in the region.

“This partnership with Bybit reflects our shared commitment to advancing Web3 infrastructure, education, and institutional engagement across the MENA region. Together, we aim to accelerate innovation and continue to position the UAE as a global hub for digital assets.”
said Feras Al Sadek, Co-Founder and Managing Partner at Ghaf Labs.

Lara on the Block spoke with Al Sadek asking why Bybit in particular, his reply, “Bybit brings more than just liquidity and listing power. The decision was rooted in long-term alignment: Bybit has consistently demonstrated commitment to Web3 ecosystem growth, regional presence in MENA, and a partner-first approach. Unlike other exchanges, Bybit is building beyond trading, with initiatives in education, infrastructure, payments, and community development. We’ve supported Bybit from the beginning, and this partnership reflects our continued belief in their vision and values.”

Ghaf Labs has invested in MENA and International startups since its inception, so we asked Al Sadek what added value would Bybit bring in? He noted that the crypto exchange offered three layers of added value. The first was distribution and exposure paving a direct path to exchange listings, co-marketing and user acquisition at scale, secondly was product integration such as access to Bybit Card, API infrastructure, and on-chain tools to enable real-world utility and faster product-market fit, and finally was credibility & reach where being affiliated with a top-tier global exchange enhances startup credibility, which is critical for follow-on investment and partnerships.


Beyond development, the partnership highlights the real-world utility of crypto through lifestyle applications like the Bybit Card. This product connects digital assets with premium experiences, including exclusive access through partners such as Grand Millennium Hotels in Dubai—demonstrating the role of crypto in elevating travel, luxury, and everyday spending.

Speaking on this to Lara on the Block, Al Sadek noted that Bybit Card is a gateway to real-world crypto utility. He explained, “We see it as a foundational layer across our startup ecosystem. From loyalty programs to on-chain-to-off-chain commerce, the card can power a new wave of fintech experiences. One early proof point is our tripartite collaboration with Grand Millennium Hotel, where Bybit Cardholders now enjoy up to 30% off across F&B, rooms, salons, and events. We plan to expand this model, embedding Bybit Card access into everyday products, services, and reward mechanisms offered by our portfolio projects.”

In 2023, Ghaf Labs, partnered with Sui Foundation, a Blockchain Foundation that supports the growth and proliferation of the Sui blockchain protocol (“Sui”) and associated ecosystem.

Animoca Brands opens office in UAE and appoints Managing Director

Animoca Brands opens office in UAE and appoints Managing Director

Animoca Brands today announced its official expansion into the Middle East, with a presence in Dubai, United Arab Emirates, to meet the growing demands of Web3 organizations moving into the region. The company has also appointed Omar Elassar as managing director for the Middle East and head of global strategic partnerships.

As per the press release, the Dubai office will serve as a hub to engage with both local and international partners to foster innovation, guide strategic direction and operations and develop partnerships.

Oman Elassar will oversee the Middle East growth and operations. As a Web3 veteran Oman has eight years of Web3 native technology experience having held various executive roles with Polkadot, Ripple and others. He has also worked across corporate and technology strategy, as well as financial advisory at firms including Oliver Wyman, Deloitte, and Morgan Stanley. He holds an MBA from INSEAD, and an Honours degree in Computer Engineering from the University of Waterloo in Canada.

Commenting on the appointment, Evan Auyang, group president of Animoca Brands, said, “Omar’s deep expertise in Web3 makes him an exceptional addition to Animoca Brands. His leadership will be a key driver in driving Animoca Brands’ strategic growth in the Middle East and beyond.”

Omar Elassar, managing director for Middle East and head of global strategic partnerships, added, “We are excited to establish our first office in the Middle East, one of the world’s most connected innovation hubs, to leverage the region’s vibrant landscape and support the evolving needs of the Web3 industry locally and globally. Joining Animoca Brands at this phase in its journey presents a unique opportunity to work with visionary builders and contribute to the wider integration of blockchain technology in a market that is poised for significant growth.”

​Animoca Brands has been active in the MENA region

Already Animoca brands has been active in the region whether in Saudi Arabia or the UAE. Earlier this year is signed an agreement with Saudi Neom, and also led an investment in UAE based Param Labs, an independent Web3 Blockchain gaming and technology studio totaling $7 million.

UAE mobile gaming platform Rise of Fearless launches

UAE mobile gaming platform Rise of Fearless launches

Rise of Fearless, a UAE mobile gaming platform that merges African storytelling with immersive battle royale gameplay, has officially launched targeting over 680 million mobile users in an industry projected to reach a value of $3.72 billion by 2029.

Rise of Fearless is now available on the Apple App Store and on Google Play in its early release phase with plans to expand to other platforms.

Rise of Fearless offers intense, skill-based battle royale combat that is deeply rooted in Africa’s heritage and history – inspired by Ethiopia’s victory at the Battle of Adwa. The game launches as a free-to-play mobile experience to ensure accessibility to a broad audience.

As part of its future roadmap, Rise of Fearless plans to integrate Web3 technology and allow players to own in-game assets, earn rewards, and participate in a secure digital economy. The move to blockchain will empower African gamers with new financial opportunities, especially in regions with limited access to traditional banking.

The African gaming industry is growing at 12 percent annually outpacing global averages.

Rise of Fearless will utilize open-source smart contracts in its Web3 phase, giving players full ownership of in-game items, such as weapons, skins, and rewards. The blockchain-based system will create a fair, transparent, and financially rewarding gaming experience.

Kanessa Muluneh, founder of Rise of Fearless, noted, “As an Ethiopian-born entrepreneur in Dubai, I have experienced how the UAE’s ecosystem empowers changemakers and connects countries and cultures with gaming communities. We have invested significantly in developing Rise of Fearless and are now raising USD 700,000 to expand the game, enhance gameplay, and transition to Web3. This funding will allow us to build a blockchain-powered gaming ecosystem where players can truly own their digital assets and unlock new financial opportunities for gamers across Africa. With this expansion, Rise of Fearless will not only push the boundaries of African gaming but also drive knowledge transfer, job creation, and social impact in one of the fastest-growing gaming markets in the world.”

Web3 is a Joke presents Crypto Roast Comedy Night on the sidelines of Token 2049 Dubai

Web3 is a Joke presents Crypto Roast Comedy Night on the sidelines of Token 2049 Dubai

Web3 is a Joke, founded by comedian Mona Shaikh, bridges the gap between comedy and blockchain technology. With sold-out events across the US, UK, Hong Kong, and beyond, the brand has become a global leader in making Web3 accessible through humor.
The event will turn blockchain into belly laughs in Dubai UAE during Token2049 on April 29th at The Kempinski Palm from 6-8pm.

“Web3 is a Joke” Crypto Roast Comedy Night at Token 2049 Dubai side event, will be a transformative experience featuring hilarious comedians, delicious libations and unparalleled networking opportunities designed for crypto, web3 and comedy lovers.

Mona Sheikh, Founder of Web3 is a Joke, notes, ” The mission is to help with mass adoption through comedy. “Web3 is a Joke”, serves as a platform to achieve two big goals: Build trust in crypto and educate through entertainment. We will bring together crypto, Web3 and comedy lovers for a day filled with hilarious crypto roast jokes, tearing down Web3 and rebuilding it with non-stop laughter. Sponsorship opportunities are available for companies in both Web2 and Web3 and in all industries. Media entities can also partner.”

Whether you’re looking to break away from the nerdy panels and need something new and exciting to laugh, learn and link, Web3 is a Joke Crypto Roast Comedy Night is where you need to be.

This year’s lineup includes Founder & Roast master Mona Shaikh followed by a hilarious crypto roast with comedians from the US, Dubai and South Asia. Each comedian offers unique insights into the world of crypto comedy. Attendees will have the chance to engage with comedians, network, and connect with sponsors with display booths all designed to entertain, learn and collaborate.

Web3 is a Joke is the perfect gathering for aspiring entrepreneurs, crypto, tech and web3 enthusiasts along with creative minds and
comedy lovers. Whether you’re looking to learn more about web3 and crypto, network with the best or just get some good laughs, you’ll find valuable opportunities to grow and learn.

Secure your spot at our exclusive event on our website by reserving your complimentary ticket today. Tickets are available at www.web3isajoke.io or on Luma. For Sponsorship and media partnership opportunities please email mona@web3isajoke.io.


UAE DWF Labs launch $250 million crypto projects Liquid Fund

UAE DWF Labs launch $250 million crypto projects Liquid Fund

UAE based DWF Labs, the new generation crypto market maker and investor announced the launch of their $250 million Liquid Fund to accelerate the adoption and expansion of mid and large cap crypto projects.

As per the announcement, the firm already invested over $11 million into promising blockchain projects and will sign two major investment deals worth $25 million and $10 million as part of this $250 million Liquid Fund, with more announcements coming up in the pipeline.

This initiative aligns with DWF Labs’ commitment to supercharge real growth in the wider crypto landscape, with investment sizes ranging from $10 million to $50 million per project. The fund will provide strategic crypto venture capital and ecosystem support, ensuring sustainable growth for projects that drive real-world adoption and help promote change in the industry.

Unlike traditional investments, each deal will also include a full-scale ecosystem growth strategy tailored to the needs of the project. This includes, stablecoin TVL and Ecosystem Expansion, Supporting liquidity and DeFi activity for L1/L2 networks. It will also include lending markets development, PR and Brand amplification, and comprehensive GTM strategy.

“Through this fund, we are doubling down on our mission to accelerate Web3 innovation and adoption,” said Andrei Grachev, Managing Partner at DWF Labs. “We believe that strategic capital, coupled with hands-on ecosystem development, is the key to unlocking the next wave of growth for the industry.”

Avalanche Blockchain joins new Web3 ecosystem in UAE, TheBlock

Avalanche Blockchain joins new Web3 ecosystem in UAE, TheBlock

Avalanche Blockchain, has joined the new Web3 ecosystem in Dubai UAE, TheBlock, whose membership targets startups and enterprises alike. TheBlock is bringing together an array of experts, investors, and innovators to accelerate Web3 initiatives and foster industry-wide growth. As per their website their experts include regulators, innovators, and enterprises in a single collaborative framework to accelerate Web3 adoption.

Avalanche is not the first entity to join. So far members include Dubai World Trade Center, Realiz, Polymesh, Fuze, BlackLane, Crystal, Vero, and Black Manta Capital Partners.

Avalanche has become the first Apex member of TheBlock, marking a key development in the expansion of blockchain technology within the region.

TheBlock provides blockchain companies with the resources, regulatory guidance, and strategic partnerships necessary to establish and expand their presence in the UAE. By offering tailored membership programs and direct access to investors, developers, and regulators, TheBlock facilitates business growth within the Middle East’s evolving digital asset landscape.

Avalanche is recognized for its high-performance blockchain infrastructure, offering exceptional speed, scalability, and security. With near-instant transaction finality and cost-efficient solutions, Avalanche is enabling the development of real-world applications that scale effectively.

Prior to TheBlock, Dubai notably had Crypto Oasis as one of the pioneering Web3 ecosystems based out of DMCC. There is also the recent Blockchain Abu Dhabi Center in Abu Dhabi as well.