Sarmad Daneshmand

Proud to see The Block highlighting the enduring strength of #FDUSD. Despite the end of the promotion, FDUSD's trading dominance persists, demonstrating the market's trust in our stablecoin. Full article: https://lnkd.in/gagY_nH4

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✍ Here’s a quick write up of the investor panel I moderated on Friday at HIT Games Conference in #Istanbul 🙏 Thanks to Roman, ilker, Emre and Kay for taking part and to  Eugene  and Olga for making the event happen. ⚖️ Content vs infrastructure plays. Many VC's pulling back from pure play content plays, choosing to invest more in infrastructure businesses that facilitate the wider ecosystem. But all is not lost for those wanting to build great games... 😢 👷‍♂️ Founders seeking funding for gaming projects need to look beyond just VC. Other methods discussed including funding gaming projects by creating assets on Unity, or building on top of Roblox, Fortnite to generate revenues to fund gaming projects. 🧟‍♀️ Potential for VC backed studios to sell “zombie games” (which are doing ok, but will never break out), thus generating new capital to build new games - good outcome for founders, VCs and acquirers of IP who specialise in rolling up long-tail games. 🏴‍☠️ 🤖 AI can bring down the cost of getting new games to market - this trend will only continue, starting first in asset creation, then permeating other areas of gaming including dynamic pricing and UA over time. 🎉 Consensus that now is a great time to start a business in gaming. Whilst there are of course mass layoffs in the market, potentially invest that severance payment into starting your own studio. Historically, great innovations are born in lean market times when capital is harder to access. PS: Apologies ilker you were missed off the photo!

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Currently in the forex market the GBP/USD pair is hovering in and around the 1.3050-1.3070 range with US markets closed for the day and no macro data expected, the pair might consolidate it's position until tomorrow's data releases as it is a Big week for the UK market. On Tuesday Claimant count change data is slated for release which is essentially UK's version of unemployment benefits claim. Following that on Wednesday UK headline CPI report will also be released and is expected to be lower than the previous reading of 2.2% and is forecasted to come in at 1.9%. On Thursday monetary policy report hearings are scheduled l. The week will end with the GBP retail sales data on Friday. All of this data is set to have a major impact on the forex market as well as rate cuts decisions by the Bank of England. Weaker than expected data might push Andrew Baileys hand at cutting rates. Stay tuned.

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The white paper on the common UNIT settlement currency has many crucial points: 59 countries express interest in joining BRICS+ and have agreed to the UNIT settlement token, which is to be traded over Project mbridge. This cross border payment system, designed by China, Hong Kong, Thailand, and the UAE, has been tested in two trades. China has paid in digital Yuan to the UAE for oil and gold, which has been remonetized. The Shanghai Gold Exchange supports a new system, with 40% of the basket being gold. The UNIT settlement token is a significant deal, as it allows all BRICS+ members to trade in their own Central Bank digital currencies. However, if imbalances arise, the UNIT settlement token will be used, holding gold within the jurisdiction of the countries that possess it. This repatriation of gold is seen as weaponization of the dollar, as the BIS has instructed countries to repatriate gold and use it as a reserve asset. The new UNIT settlement token will be gold held within the borders of the countries that possess it, ensuring that all items in the unit reserve basket are freely tradable in gold terms for spot delivery at one of the unit nodes. This will maintain monetary autonomy and allow countries to trade with one another without relying on any single central authority.

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Turkey's recent surge in crypto license applications is a clear sign of the rising importance of crypto in Turkey. Turkey is now the fourth-largest crypto market globally, with a trading volume of $170 billion. As recently announced by the Turkish Capital Markets Board, 47 companies including major exchanges are now seeking licenses under the recently approved rules. I think that Turkey's efforts to build a robust legal infrastructure will now encourage even more players to enter the market. With the country’s inflation rate being consistently in the double digits, Turkey’s crypto ecosystem is poised for continued significant growth. And given the important position and role in the region, what is happening in Turkey right now could soon have ripple effects with neighboring countries and the Middle East. Read more: https://lnkd.in/gQQCUpeS

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Will robo advice and self-service investing continue to expand in geographies where an emerging mass-affluent class far outstrips the supply of human financial advice? The Robinhood of Turkey thinks so. #wealthtech #fintech #investing Midas

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AED Stablecoin LLC backed by Al Maryah Community Bank has received in-principle approval from the Central Bank of The UAE to launch AE Coin, the first-ever AED-backed stablecoin under the "Payment Token Services Regulation." #AECoin is set to transform the #UAE’s financial landscape by offering secure, transparent, and cost-effective payment solutions, fully backed by the UAE Dirham. This milestone aligns with the UAE's Digital Government Strategy 2025, advancing the country's vision for a forward-thinking digital economy. Key Features of AE Coin: 1. Regulated and Secure: First stablecoin in the UAE regulated by the Central Bank, ensuring oversight and stability. 2. Fiat-backed Stability: Pegged to the Dirham and supported by transparent reserves and regular audits. 3. DeFi Integration: Enables seamless access to decentralized finance platforms for lending, borrowing, and more. 4. Blockchain Security: Advanced blockchain and multi-layer encryption ensure secure and transparent transactions. #AECoin sets a new standard for digital finance, promoting trust, scalability, and innovation across the #UAE. Al Maryah Community Bank, Mohammed Wassim Khayata #AlMaryahCommunityBank #MBank #AEDStablecoin #IAP #AECoin #Approval #AED #Tokenization #Crypton #CryptoCurrency #Web3 #Blockchain #DeFi #digitalEconomy #FutureofFinance #UAE #MiddleEast #MENA #FintechFintechNews

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UAE Central Bank Approves AED Stablecoin for Inaugural Dirham-Pegged Token The Central Bank of the United Arab Emirates (CBUAE) has granted in-principle approval to AED Stablecoin under its Payment Token Service Regulation framework, positioning the project as the frontrunner to launch the UAE’s first regulated dirham-pegged stablecoin. AED Stablecoin's preliminary approval provides clarity on crypto payment regulations after concerns emerged regarding restrictions in the CBUAE’s latest licensing framework. The framework only permits licensed dirham-pegged tokens for payments, while prohibiting algorithmic stablecoins and privacy tokens. If fully approved, AE Coin—the stablecoin issued by AED Stablecoin—could act as a local trading pair for cryptocurrencies on both exchanges and decentralized platforms, while also enabling merchants to accept it for goods and services. Stablecoin Issuance Requirements: The CBUAE’s framework mandates that issuers must: Fully back stablecoins with cash held in escrow in UAE banks, or Hold at least 50% of reserve assets in cash, with the remainder invested in UAE government bonds or CBUAE Monetary Bills with a maturity of up to six months. Competition on the Horizon While AED Stablecoin is currently leading the race to launch the UAE’s first regulated dirham-pegged token, it faces competition from Tether, the issuer of the world’s largest stablecoin, USDT, with a $120 billion market cap. Tether has partnered with Phoenix Group and Green Acorn Investments to introduce its own dirham-backed stablecoin, reflecting the growing interest in stablecoins within the UAE. UAE’s Crypto-Friendly Environment The UAE’s crypto-friendly regulatory environment has been attracting key players in the global blockchain space, underscoring the country’s ambition to become a hub for digital assets and payment innovations. With the green light from the CBUAE, AED Stablecoin could become a pioneer in this evolving landscape, offering a regulated bridge between traditional finance and the crypto economy. #crypto #Bitcoin #Blockchain #USDT

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🚀💳 #BRICSPay: A Financial Revolution in Emerging Markets? 🌍✨ The BRICS+ nations are boldly shaking up the financial world with #BRICSPay, launched at the BRICS Business Forum in Moscow! Using blockchain tech, this game-changer challenges the US dollar by enabling payments in local currencies. 💹🤝 Could this rival #SWIFT and transform global trade? 🌐💱 Let's discuss! #BRICS #Blockchain #FinancialInnovation #GlobalTrade #softpos EdfaPay

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Crypto is booming...in the Middle East! A recent report by Chainalysis highlights the Middle East’s impressive contribution to global crypto volumes, accounting for 7.5% over the past year—equivalent to around $338 billion in transactions. Even more striking is that over 93% of these transactions are in the $10,000+ range, signalling substantial institutional activity. Progressive regulatory frameworks, especially in the UAE (VARA, DIFC and ADGM) are paving the way for the region’s emergence as a significant crypto hub. It’s a compelling example of how thoughtful regulation can drive growth and foster innovation. For policymakers around the world, there’s a lesson here: well-structured regulations are key to unlocking the potential of digital assets. Read more: bit.ly/4eL1yrk

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Realize and Neovision Wealth Management, based in Abu Dhabi, have launched the Realize T-Bills Fund, a first-of-its-kind tokenized investment fund for short-term U.S. Treasury bills. This fund operates under the Abu Dhabi Global Market (ADGM) framework and targets $200 million in investments from the Gulf region, Europe, and Southeast Asia. It tokenizes ownership of U.S. Treasury bond ETFs, such as BlackRock’s iShares and State Street’s SPDR, using a digital token called $RBILL on the IOTA and Ethereum blockchains https://lnkd.in/gjr_zHdt https://lnkd.in/gJyGWxkX Through tokenization, investors gain easier access to these assets, with benefits like high liquidity and lower transaction costs. The Realize T-Bills Fund aims not only to enhance investment efficiency but also to support Abu Dhabi’s role as a leader in real asset tokenization https://lnkd.in/gVWqm8k8

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I feel confident that the catalyst for an extreme Bitcoin, and to some extent, a crypto supercycle is now underway. We know the first rate cut is imminent as recession looms, there is a war in the Middle East, and all these factors lead to more money printing. Governments are not fiscally responsible, making the end game inevitable. The path is not linear and probably painful in the shortrun, but the journey is clearly underway. $BTC

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#FUTURES | April trading in #CME Group #Cryptocurrency products was up sharply vs. April 2023, with an average daily volume (ADV) of 79K contracts (+89% YoY) and average open interest (OI) of 106K contracts (+47% YoY).

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Anyone seen Leonardo DiCaprio Making Moves in Abu Dhabi? When Hollywood meets high finance, interesting things happen. Did you hear that Princeville Capital, who count Leonardo DiCaprio as an advisor, recently partnered with Abu Dhabi based Hub71's Climate Tech programme? It's not just a celebrity cameo - it's a signal of the booming investment landscape in the Middle East. Here's why fund managers and founders should pay attention: 1️⃣ Big Names Are Setting Up Shop - Princeville Capital isn't alone. Firms like Brevan Howard, Dalio Family Office, and PGIM have established a presence in the UAE recently. - General Atlantic and Marshall Wace are planning to open offices by year-end. - Nuveen, a TIAA company is also set to open in Abu Dhabi soon. 2️⃣ Opportunities Are Expanding - The influx of global asset managers means more networking opportunities and access to capital. - There's a growing appetite for investments in private equity, hedge funds, real estate, and climate tech. 3️⃣ Strategic Advantages - The UAE offers a strategic location, a business-friendly environment, and a vibrant ecosystem for innovation. If Leo sees potential here, maybe it's time you considered the Middle East for your fundraising efforts. Or, at the very least, there’ll be some good boat parties to attend at this year’s Abu Dhabi Grand Prix in December! That’s if you make the cut… 🎬⛵

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Alphalytix Consulting, a portfolio company of the Islamic Fintech Fund, has released the Islamic Analytix Scorecard (IAS) covering the UK 🇬🇧 market. The report assesses companies in the FTSE 350 based on a 4 quadrant methodology to evaluate their Islamic Score, ESG Score, Financial Score, and Analyst Score across six pivotal sectors: Basic Materials, Healthcare, Energy, Communication, Technology and Utilities. The top 10 FTSE 350 companies based on the Islamic Alphalytix Scorecard are: Genus PLC (#GNS) South32 Limited (#S32) Oxford Instruments PLC (#OXIG) Informa PLC (#INF) DCC PLC (#DCC) BHP Group Limited (#BHP) GSK PLC (#GSK) Astrazeneca PLC (#AZN) Shell PLC (#SHEL) Pearson PLC (#PSON) The IAS report provides valuable insights to investors seeking alignment with Shariah-compliant principles. This methodology can be applied to other markets where data quality allows for comparative analysis. To learn more, reach out to the team at [email protected] Read the previous report covering the US 🇺🇸 market here: https://lnkd.in/g-qwNvv5 #IslamicFinance #IslamicAnalytix Omar R Aftab Sabir Mita Anwar Harris Irfan David (Daud) Vicary (Abdullah)Islamic Analytix #FTSE350

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How #china’s #fintechs Make Gains in #RMB over #USD | Is it the Beginning of the De-Dollarisation? | In a significant #development in #internationalfinance, the #chineserenminbi (RMB) has surpassed the #USDollar (USD) in cross-border receipts and #payments within the #nonbankingsector > By AGPAYTECH LTD.

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