Liechtenstein-Based Crypto Fund Manager Receives Backing from Dubai Royal

Dubai royal and Emirates Group chairman Sheikh Ahmed bin Al Maktoum is backing Lichtenstein-based cryptocurrency fund manager Invao, according to a report from Bloomberg on Feb 5. The fund management firm purportedly aims to secure more investors in the United Arab Emirates (UAE). The Sheikh’s private office, known simply as […]

» Read more

Saudi Arabia and UAE to Pilot Cryptocurrency for Cross-Border Payments

Saudi Arabia and the UAE have launched a cryptocurrency aimed at facilitating cross-border payments. The new digital asset was unveiled during the first meeting of the Saudi-Emirati Coordination Council held on January 19, 2019, in Abu Dhabi, according to a WAM report. National Crypto As stated in the WAM press […]

» Read more

Daily Byte: Thursday, November 29, 2018

Amazon walks into the blockchain jungle, Vakt oil platform is pumping, and UAE gets serious about emerging tech. Plus, trouble with Iran. Amazon Steps into the Blockchain Jungle Amazon Web Services (AWS) is introducing two new services, including one managed blockchain product, to let customers set up “a scalable blockchain […]

» Read more

Abu Dhabi Bank Reports ‘First’ Blockchain-based Transaction of ‘Sharia-Compliant Bonds’

Al Hilal Bank, based in Abu Dhabi, the United Arab Emirates (UAE), has announced it has completed “the world’s first sukuk transaction” with the use of blockchain technology, Reuters reports Nov. 26. Sukuk, a legal instrument also known as “sharia compliant” bonds, allows investors to generate returns without infringing on […]

» Read more

UAE To Allow ICOs To Boost Capital Markets

The United Arab Emirates (UAE) is planning to create rules that would allow domestic companies to raise money through initial coin offerings (ICO). Speaking at a seminar, Obaid Saif Al-Zaabi, head of the Emirates Securities & Commodities Authority (ESCA), revealed that the board of ESCA has approved considering ICOs as […]

» Read more

ICO-Generated Tokens to Be Classified as Securities in the UAE | BTCMANAGER

Financial regulators in the United Arab Emirates(UAE) are now looking to put the finishing touches to their initial coin offerings(ICOs), cryptocurrency exchanges and digital assets-related businesses regulatory framework, reported Finance Magnates on September 10, 2018. The UAE Ready to Entirely Regulate its Cryptospace The Securities and Commodities Authority(SCA) of the […]

» Read more

Unconfirmed: UAE Preparing to Adopt Formal ICO, Fintech Regulations, Local Media Report

The United Arab Emirates (UAE) has approved a draft of regulations governing Initial Coin Offerings (ICO), local media outlet WAM reported Sunday, September 9 citing government sources. The reported move comes in addition to lawmakers in the country adopting plans for a regulatory sandbox aimed at attracting greater fintech activity. […]

» Read more
1 2