Digital asset exchanges, NFT marketplaces, utility token issuers, tokenised funds, and payments companies are among the ventures seeking to relocate or expand their operations to the UAE
Stablecoin
Latest in Stablecoin
CBUAE
New tax in the UAE; Lottery warning; Crypto trading in Dubai; Kuwait halts e-visas; Saudi to host 2034 World Cup – 10 things you missed this week
UAE tax, UAE Lottery, crypto in Dubai, Kuwait visas, Saudi World Cup and more top news stories this week
CBUAE
AE Coin: UAE’s first stablecoin approved
AE Coin granted final approval by Central Bank of the UAE
Donald Trump
US dollar could face threat to global supremacy as digital currencies, stablecoins soar in popularity: Experts
Moves are, however, afoot in the US, with a bipartisan bill in the US Senate aiming to launch a regulatory initiative to counter non-dollar linked stablecoin issues and checkmate the threat to the greenback
Cryptocurrency
UAE stablecoin usage surges 55% YoY, driven by new regulations and market growth
Consequently, stablecoins currently account for the largest share of crypto activity in the UAE at 51%, much higher than both Bitcoin (19%) and Ether (9%)
cross-border payments
Revealed: Stablecoin market capitalisation hits a massive $172bn globally; fast emerging as alternative to dollar savings
They also offer new possibilities for cross-border payments and asset management, improving efficiency and reducing costs, disrupting the business models of traditional banks and financial institutions
Cryptocurrency
Gold-backed stablecoin Deenar expands global access with Onramp Money listing
The listing will enable users in MENA and several other countries to purchase the coin
Cryptocurrency
UAE’s Phoenix Group, Tether to launch Dirham-pegged stablecoin
The new stablecoin, which will be pegged to the UAE dirham, aims to revolutionise the future of digital assets in the Middle East region and beyond
Dubai
Revealed: Tokenisation to spur next growth phase of Dubai’s real estate sector
The rise of tokenisation and blockchain technology in Dubai – and larger UAE – is also boosting fractional ownership of real estate assets, even encompassing various high-value assets such as vacation homes
Abu Dhabi Global Market
UAE crypto firms welcome ‘stability’ as CBUAE approves stablecoin licensing system
The UAE’s ‘responsive’ regulatory environment for crypto serves as a model for other countries, experts say
Blockchain
Blockchain network HAQQ reveals plans for gold-backed stablecoin, tokenised sukuk to boost Islamic interbank market
The move comes close on the heels of the UAE central bank approving issuance of stablecoin regulation
Cryptocurrency
Cryptocurrency: UAE announces first-ever Dirham-backed stablecoin in challenge to US $125bn market
DTR is eyeing a head start for DRAM by targeting to corner a single-digit share in the stablecoin market in the near term
APG
Demystifying USDC Price: Its Role and Impact on the Crypto Space
USDC: Stablecoin pioneer in crypto, shaping future of finance
Blockchain
Islamic crypto moves to reassure investors as Silicon Valley Bank goes bust
Islamic Coin to allocate $40 million for launch of a worldwide ‘Grants and Investment’ programme, while Haqq Network announces an exclusive tie-up with Holiday Swap, the world’s largest home exchange platform
binance
Crypto world braces for ‘furnace of fire’ as investors, regulators keep close watch
Bitcoin could take months to rally again, an analyst said
binance
A clear-eyed view of DeFi for Middle East financial services executives
For the near future, financial executives can expect substantial ambiguity surrounding all things DeFi, which they can best confront with an open mind, a level head, and a willingness to roll up their sleeves and get involved
anti-money laundering
Anti-Money Laundering and Know-Your-Customer efforts remain key to UAE’s embrace of cryptocurrency
Anti-money laundering is a critical requirement of cryptocurrency if it is to gain acceptance