Dyma Budorin, ACCA CCSSA

The country is actively facilitating the blockchain business ecosystem with varied licensing options, regulated and unregulated activities, and ecosystem developments, including RBA and the AEDT launch. #uaeVision #Decentralizedfinance #BlockchainPlatforms

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Standard Chartered's launch of a Bitcoin and crypto custody service in the UAE is an exciting development for the region’s financial landscape. By offering institutional-grade custody, the bank is tapping into the growing demand for secure digital asset storage. This move is likely to boost confidence in the region’s crypto market, attracting more players who need the security of a trusted institution to manage their holdings. The UAE has been positioning itself as a hub for financial innovation, and Standard Chartered’s entry into crypto custody further strengthens that narrative. For institutions and high-net-worth individuals, having access to a trusted custody service removes one of the key barriers to crypto investment: security. Safeguarding assets is crucial for wider adoption, especially when large sums and institutional funds are involved. What’s also interesting is how this development could pave the way for other traditional banks to offer similar services. With regulatory frameworks in the region becoming clearer, more institutions may follow suit, further integrating cryptocurrencies into the mainstream financial system. This shift could accelerate the adoption of digital assets, making them a more common part of portfolios in the UAE and beyond. It’s clear that the relationship between traditional banking and crypto is evolving. As more banks provide services like crypto custody, it becomes evident that digital assets are not only gaining legitimacy but are becoming an essential part of the modern financial landscape. This launch by Standard Chartered is just another sign of how traditional finance and crypto are coming closer together. https://lnkd.in/gxQN9-gp

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Crypto.com has achieved a significant milestone by obtaining a principal network license from Mastercard, enabling it to issue cards directly on Mastercard’s network. This partnership marks the launch of a new crypto-linked card program, starting in Bahrain, with plans to expand across the Gulf Cooperation Council (GCC) region. Leveraging its recently acquired Payment Service Provider license from the Central Bank of Bahrain, Crypto.com is set to offer users a seamless bridge between digital assets and everyday transactions. The USD-denominated cards will be accepted at over 150 million locations worldwide where Mastercard is accepted, allowing users to fund their accounts via the Crypto.com app with e-money wallets or traditional credit and debit cards. The cards, spanning Crypto.com’s five tiers, including the Black Obsidian, will offer attractive rewards of up to 8% on spending. Mastercard’s robust global payment network will power the program, integrating advanced security and fraud protection measures to ensure user confidence and safety. (Image by Mastercard) #Crypto #FinTech #DigitalAssets #Bahrain #Mastercard #DigitalPayments

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Tether, the largest digital asset issuer, and Fuze, a platform facilitating digital asset transactions in the Middle East, have joined forces to push for digital asset education. Through a Memorandum of Understanding (MoU), they aim to advocate for the mainstream adoption of digital assets like #Bitcoin and #stablecoins such as Tether.to (#USDT). This strategic partnership will focus on educational programs across Turkey and the MENA region, emphasizing the benefits of digital assets and ensuring compliance with #regulatory frameworks. By empowering financial #institutions and #businesses with knowledge about the real applications of #digitalassets, Tether and Fuze are paving the way for wider adoption and usage. Paolo Ardoino, CEO of Tether, highlighted the transformative potential of the collaboration, while Mo Ali Yusuf, Co-Founder and CEO of Fuze, emphasized the importance of educating stakeholders at all levels for the future of #finance. Together, they aim to set a new standard for digital asset adoption and create a globally informed and empowered society. The only way to attract people to the #blockchain industry and make them enthusiastic is through education and #financialliteracy. While giveaways, airdrops, and prizes may grab attention, the real focus lies in providing comprehensive #education about #cryptocurrencies and #blockchain technology. As we care about our present, we must also invest in our future by providing the newest #technologies for the next generation to study and explore. https://lnkd.in/eY2v-Rwp

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QFC Digital Assets Framework Launched to Promote Legal Crypto in Qatar ☑️ Qatar Central Bank introduced the QFC Digital Assets Framework in collaboration with the Qatar Financial Centre Authority and Regulatory Authority. ☑️ The framework provides a legal and regulatory environment for digital assets, covering issuance, trading, custody, and related services. ☑️ Key features include investor protection, high standards for asset tokenization, and legal recognition of smart contracts. ☑️ Qatar is also advancing its CBDC plans, with a full launch expected by the end of 2024. 🔗 Read more: Coincu (https://lnkd.in/gbDX3eMs) #Qatar #Crypto #QFC #DigitalAssets #Fintech

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$80bn Stablecoin ('SC') giant Tether (#USDT) invests $3mm into in Kem, a #Kuwait P2P payment startup in a country that indescriminately banned crypto in July 23. Kuwait Finance House - a global #IslamicFinance leader is working with Ripple in the institutional space but aside from them, crypto seems wholly absent from one of the world's richest (per capita) countries. Indeed I would be surprised if - apart from trading - any 1.5mm native Kuwaitis care about crypto.. but 3.3mm expat workers - many sending remittances (making good fees for Kuwaiti #banks) - will be interested in SCs. Tether seeks to strengthen its foothold in the GCC that did $75bn of cryptoasset transactions (tx) in 2023 and whose economies are 99% pegged to the US dollar. Kem seeks to ambitiously be leading real-time payment platform in the Gulf: “This collaboration with Tether is one of the most important deals in the crypto industry right now.” said Seth Sadeq, Kem’s CEO. “This will help bridge the access to decentralised financial services that will improve the lives of millions. Also, people from countries facing dire economic situations can mitigate the effect of hyperinflation and currency fluctuations back home.” It's a surprising entry point for Tether, that showcases the potential for innovation even in such a restrictive market. Kuwait is always eclipsed by the pro-crypto peers like #Dubai, #Bahrain, #AbuDhabi and this year #Saudi as highlighted by a recent Adaverse rpt. STABLECOIN = 21st CENTURY EURODOLLARS #Stablecoin payment infrastructure makes SWIFT look positively prehistoric + Fiat-backed SCs = critical on/off ramp/bridge between the existing financial system and a future - tokenised - one + SCs = liquidity lifeblood of the #DigitalAsset economy that Boston Consulting Group (BCG) estimates $16-68Tn could be on #blockchain by 2030. + Lastly = crucial for #DeFi. While the rest of the world debates the international decline of USD tx due to geopolitical weaponisation. In the cryptoverse I suspect that 99% of fiat tx are USD pegged/backed. Paolo A. new CEO Tether.io , “Our investment in the Kem App is a testament to this belief, as the platform provides tools that simplify access to the financial system, perfectly aligning with our mission to advance financial freedom for all.” Tether is one of the most profitable companies per capita (13 employees I think) in the world. In the first half of 2024 alone, Tether reported $5.2bn in net profit. As of June Tether’s was the world's 18th largest holder of U.S. Treasuries exceeding nations such as Germany, UAE + Australia. Sadly, Europe + #UK are once again lagging.. as the former obesses with it's soviet CBDC and the latter - despite Brexit - seems sadly unwilling to use it's regulatory freedom to create a 'BritCoin' or dominate the future digital EuroDollar market. Go #Kuwait!! https://lnkd.in/dR3ZdrW6 #crypto #Kuwait #Cryptocurrency

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Standard Chartered Launches Crypto Custody Services in UAE 🇦🇪 🏦 Standard Chartered has rolled out its digital asset custody services in the UAE, initially offering secure storage for Bitcoin and Ethereum. The service is licensed by the Dubai Financial Services Authority (DFSA) and is aimed at institutional clients seeking regulated solutions for digital assets. 🔑 Key Details: 🟡 Brevan Howard Digital is the first client onboarded for the custody service. 🟡 The bank plans to expand its offering to include a broader range of digital assets in the coming months. 🟡 Standard Chartered is looking to extend these services to other financial hubs, strengthening its global presence in digital asset management. ➡️ Bill Winters, Group CEO, described the launch as a “game changer” for institutional clients, allowing them to securely manage their digital assets while benefiting from Standard Chartered’s expertise in traditional finance. ➡️ This move follows the bank's broader involvement in the digital asset space, including the launch of a crypto trading desk, Ether ETFs, and participation in China’s digital Yuan trials. 🔗 DiveDeeper: Here (https://lnkd.in/gpESSwSV) #StandardChartered #CryptoCustody #DigitalAssets #UAE #Bitcoin #Ethereum

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✅ The Open Finance Regulation details regulations concerning Open Finance in the UAE. ✅ It establishes a framework for licensing, supervision, and operation of Open Finance services, including a Trust Framework, an API Hub, and Common Infrastructural Services. ✅ The Central Bank may issue technical standards for Open Finance Providers to ensure compliance and provide guidance. ✅ Key points include the emphasis on governance arrangements, corporate governance, promoting reliability and efficiency of services, encouraging innovation for consumer benefit, and reinforcing the UAE's financial technology status.  ✅ It highlights cybersecurity incident response, supervisory examinations, record-keeping, wind-down plans, and technology risk management. ✅ It also covers supervision by the Central Bank, technical standards enforcement, consumer protection measures, interpretation of terms, publication guidelines, and details of the Open Finance Framework. ✅ It addresses regulatory technical standards, capital fund requirements, key performance indicators, and administration tools for managing cases and disputes among participants. ✅ Overall, the document aims to ensure the integrity, transparency, and security of Open Finance services while promoting innovation, competition, and consumer protection in the financial sector. Dr. Abhishek Jajoo Komal Dhoot Rizwan Khan,MSC Financial Crime, Manchester Univ. (DFSA Approved Senior MLRO) Vivek Mundhra Alok Bishnoi CA Gaurav B. Mirza Almarzooq Nefal Barrak Armughan Siddiqui Muhammad Altaf Hussain Ajit Jain Rajkumar TR P Satish Menon Fatima Nusaif #OpenFinanceUAE #UAEFinanceRegulation #OpenBankingFramework #DigitalFinanceUAE #FintechRegulation #UAEFintechLaw #FinancialInnovationUAE #CybersecurityInFinance #ConsumerProtectionUAE #TechRiskManagement

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⚡ Dubai court rules to recognise contractual agreements regarding #crypto salaries ⚡ 💡 #Dubai has now recognised the validity of crypto payments for salaries (contrary to the court's initial approach in 2023). The court ruled in favour of an employee whose contract included #Fiat and EcoWatt #tokens as salary. We note that the contract is valid despite knowing the precise valuation of the digital currency. 💡The ruling marked a shift in the UAE’s judicial approach to digital currencies, reflecting a growing acceptance of crypto. 💡 Whilst jurisdictions claim that they intend to become a global crypto hub, this ruling positions the #UAE well to realise this ambition. 💡 Most jurisdictions face the challenge of balancing international reputation as a safe place to do business with high regulatory standards and embracing innovation and change. *We note that whilst the UAE is part of the #CRS, it has not *yet* signed up to the Crypto Asset Reporting Framework #CARF. #Crypto #Dubai #Blockchain #DigitalAssets #Innovation #crownstone #taxtipper CrownStone Consulting Ltd https://lnkd.in/d7Cm9uh4

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Binance Parser which collects addresses of wallets in BEP-20 network among blocks, also it checks addresses on active addresses and on last transactions, in this way software algorithm before writing this address to the list of active addresses filters addresses through the function which checks on 4 transactions for the last 30 days and on the total balance in my case was set 1000$ in one address, also there is one more function which before writing to the address file checks it for uniqueness. Binance BEP20 Development Binance BinanceBinance Academy #Blockchain #Crypto #BEP20 #DeFi #Wallets #Cryptocurrency #DataMining #Fintech #SmartContracts #CryptoAnalysis #WalletTracking #BinanceSmartChain #CryptoTools #DigitalAssets #CryptoSecurity #CryptoTransactions #TechInnovation #CryptoCommunity #BlockchainDev #CryptoMarket #FinancialTechnology #Decentralization #Tokenomics #CryptoTrading #CryptoInvestment #BlockchainData #CryptoMining #CryptoAnalytics #CryptoTech #BlockchainExplorer #Ethereum #Bitcoin #CryptoNews #CryptoUpdates #BlockchainNews #Finance #Investment #CryptoCurrencyNews #BlockchainTechnology #CryptoWorld #CryptoSolutions #BlockchainSolutions #BlockchainSecurity #Cryptology #CryptoDevelopment #Decentralized #CryptoEconomy #CryptoFuture #TechCrypto #CryptoAdvancement

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The UAE is taking another strategic step to expand its economy 🎰. The launch of the General Commercial Gaming Regulatory Authority (GCGRA) isn’t just about gaming; it’s about creating new revenue streams and boosting economic growth 💼. A regulatory model like Nevada and New Jersey, targeting global investors. Licenses for table games, online gaming, and sports betting will open new sectors. While federal laws on gambling remain strict, the UAE is adapting fast. For investors, this signals a wider commitment to diversifying the economy and strengthening its position as a global tourism and entertainment hub 🎟️. Find out more: https://lnkd.in/d4RqTfvf #UAEEconomy #UAECasino #RealEstateInvestment #GamingIndustry #Tourism

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On October 11, 2024, the Zayed Fund for Entrepreneurship and Innovation achieved a major milestone by completing the first interregional transaction using the “digital mudaraba” product as part of Russia’s Islamic finance experiment. This historic deal, conducted via the investment platform STATUS-INVEST in Moscow, involved financing of 40 million rubles for PO Amal in Kazan. Organized by PO AS SALYAM, this marks the beginning of a new era for the interbank capital market in Russia, utilizing advanced digital Islamic finance tools. This transaction brought together companies from Chechen Republic and Republic of Tatarstan, participants in the Islamic finance experiment, and paves the way for further development of partnership capital markets. We’re proud to be at the forefront of Islamic finance in Russia, contributing to expanding investment opportunities and attracting capital to the country’s economy. Together, we are shaping the future of Islamic finance! 🌍💼 #IslamicFinance #Mudaraba #PartnershipCapital #Innovation #ZayedFund #Investment #Entrepreneurship #ShariaFinance #DigitalFinance #Russia

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🚨 Protect Yourself: A Consumer Advisory from the GCGRA 🚨 The General Commercial Gaming Regulatory Authority - GCGRA has issued a crucial advisory notice urging UAE residents to avoid unlicensed gaming platforms. The risks? Financial loss, fraud, cybersecurity threats—and severe legal consequences under UAE law. At Responsible Gaming MENA, we are committed to advancing responsible gaming, regulatory compliance, and financial wellbeing. This consumer advisory is a timely reminder that safeguarding consumers starts with education and collaboration. 👉 Read the full notice here: https://lnkd.in/euhay7Jf

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Saudi Arabia's fintech sector is booming, evident in Rasan Information Technology Co.'s recent IPO success, garnering a staggering $29 billion in orders – an impressive 129.1 times oversubscription. Tabby’s Investor Mazin Alzaidi, STV's General Partner, emphasized Tabby's exceptional growth, stating, "When you are the fastest growing fintech company in the region… you don’t need a list to tell you that you are the #1 Saudi Fintech Company " STV, a leading venture capital firm based in Saudi Arabia, has doubled down on its partnership with Tabby, investing in the company's Series C funding round. While the specific amount of STV's investment in Tabby's $58 million Series C round hasn't been disclosed, their continued support underscores their confidence in Tabby's growth trajectory and its potential to capture a significant share of MENA's booming Buy Now Pay Later (BNPL) market, estimated at $95 billion This follows a trend of highly sought-after Saudi IPOs, including a hospital group that garnered $91 billion in orders and Saudi Manpower Solutions which attracted over $30 billion. tabby are still private, a unicorn, having raised $1.7billion from investors including stv This robust investor appetite reflects the kingdom's push to diversify its stock exchange beyond traditional sectors like banking and industry. The recent IPO boom suggests there's still room for growth as several companies witnessed triple-digit subscriptions. Notably, Rasan's success could pave the way for other Saudi tech firms like Tabby, the region's fastest-growing fintech company, to consider public listings. https://smashi.tv/en Rasan STV Tabby Mazin Alzaidi

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