Banking and Finance Egypt renews warning over dealing in cryptocurrencies Egypt has issued a fresh warning against dealing in bitcoin and other cryptocurrencies following a surge in local online advertisements for investment in these tools. The Financial Regulatory Authority (FRA) said these currencies lack official financial backing that guarantees their stability and that they could be used in terror funding. In a weekend statement on […] May 12, 2025
Retail Emarat customers can soon use crypto to pay for gas Customers at some of Emarat’s service stations across the UAE will soon have the option to pay for their gas and snacks in cryptocurrencies. Emarat has partnered with UAE crypto trading platform Crypto.com to allow merchants to use cryptocurrencies at their checkouts, the company announced on LinkedIn this week. Initially, 10 service stations will be […] May 9, 2025
Video length: 04:32 VIDEO Tech Crypto company Animoca Brands to launch in Dubai Yat Siu, the co-founder of the blockchain and venture capital business Animoca Brands, is at the forefront of the growing digital asset sector. As part of its global expansion, the company is establishing a presence in the Middle East with the launch of its new office in Dubai. It plans to establish dedicated funds for […] May 8, 2025
Opinion Banking and Finance From ice baths to yacht parties, crypto bros descend on Dubai The first Token2049 of the year drew a record 15,000 attendees to Madinat Jumeirah May 7, 2025
Finance Crypto payment provider Ripple plans UAE growth Cryptocurrency company Ripple Labs has outlined plans to expand in the UAE after winning approval to operate in Dubai. Based in San Francisco, Ripple was the first blockchain payments provider to be licensed by the Dubai Financial Services Authority (DFSA) in March, the company said in a statement. One in five Ripple customers is based […] May 7, 2025
Tech UAE’s Phoenix expands Ethiopian bitcoin mining Phoenix Group, an Abu Dhabi-listed blockchain and cryptocurrency company, has expanded its bitcoin mining operations in Ethiopia, securing an additional 52 megawatts (MW) of power supply. The latest move brings the company’s total capacity in the African country to 132MW and raises its global capacity to more than 500MW across five countries, it said in […] May 2, 2025
Finance Abu Dhabi’s MGX to use Trump stablecoin for Binance deal A stablecoin linked with President Donald Trump will be used by Abu Dhabi’s MGX as part of the technology company’s $2 billion investment in Binance, the world’s largest cryptocurrency exchange, it was announced on Thursday. MGX announced a minority investment in Binance in March. Zach Witkoff, co-founder of World Liberty Financial, a cryptocurrency holding company […] May 1, 2025
Analysis Energy Kuwait cuts off crypto mining to save power Kuwait this week began a clampdown on illegal cryptocurrency mining activity, as the energy-intensive sector places further pressure on the Gulf state’s already severe power shortage problem. The country’s industrial facilities were told earlier this month to suspend operations for six hours daily during the summer, as part of a power rationalisation plan. The ministry […] May 1, 2025
Banking and Finance Abu Dhabi group creating dirham-backed stablecoin Sovereign wealth fund Abu Dhabi Developmental Holding Co. is among a group of companies developing a cryptocurrency that will be linked to the UAE dirham currency. Better known as ADQ, the fund – together with the emirate’s International Holding Company (IHC) and First Abu Dhabi Bank (FAB) – will develop the stablecoin to be regulated […] April 30, 2025
Finance Binance powers crypto dialogue with community events Binance, the world’s largest cryptocurrency exchange by volume, is helping to unite the industry, facilitate connections and drive conversation through its calendar of live and online events. Kim Murphy, its head of global event marketing, gives us the lowdown Why are events so important to Binance and the industry? Events bring crypto to life. They […] April 28, 2025 In association with
Banking and Finance Abu Dhabi investor buys $25m in Trump crypto coins DWF Labs, an investment company based in Abu Dhabi, has bought $25 million of a cryptocurrency linked to Donald Trump. The company describes itself as a next-generation Web3 investor and cryptocurrency trader. Web3 includes concepts such as decentralisation, blockchain technologies and token-based economics. It said in a statement that it bought $25 million of World […] April 17, 2025
Markets Abu Dhabi backers deny selling crypto before $5bn crash The Abu Dhabi backers of a Dubai-licensed cryptocurrency business have denied wrongdoing after its token’s market cap dropped by more than $5 billion in a matter of hours, raising alarm among investors. Mantra, a Hong Kong-based blockchain company focused on tokenising real-world assets, is backed by Abu Dhabi’s Shorooq Partners, which led an $11 million […] April 16, 2025
Opinion Banking and Finance From horses to houses: the march of UAE tokenisation Digital fractional ownership is turning high-value assets into accessible investments April 15, 2025
Opinion Media & Advertising Why we launched The Crypto Radio in Dubai – and what we’ve learned Our thinking remained that Dubai was still the perfect place for The Crypto Radio's main hub March 27, 2025
Analysis Finance Gulf investors pile into crypto to hedge against risk Institutional investors in the Gulf are increasingly turning to cryptocurrencies to better manage their risk. Global currency fluctuation and sustained inflation are encouraging investors to add bitcoin and other digital assets to their portfolios, according to a study by Singapore-based QCP, a digital asset trading company. Notable institutional Gulf investments in crypto so far this […] March 25, 2025
Tech MGX makes $2bn crypto investment in Binance UAE technology investment company MGX has invested $2 billion-worth of stablecoins into Binance, the world’s largest exchange for digital tokens by trading volume and users, according to a statement. Binance said on Wednesday that acquisition of a minority stake in MGX is the “biggest-ever” injection of funds into a crypto company, the largest investment ever […] March 13, 2025
Analysis Banking and Finance Currency woes underpin Mena preference for stablecoin Cryptocurrency traders in the Middle East and North Africa prefer stablecoins over single crypto currencies like Bitcoin, data show. Stablecoins made up 52 percent of all cryptocurrency transactions carried out in the Mena region in the year to June 2024, according to New York-based blockchain analysis company Chainalysis. That is more than the 17 percent […] March 11, 2025
Finance UAE interest in crypto jumps after Trump’s ‘strategic reserve’ call Interest in cryptocurrencies has accelerated in the UAE after a rally in prices that followed President Donald Trump’s announcement of plans to create a so-called crypto strategic reserve. Online searches for bitcoin prices in the UAE more than doubled following Trump’s announcement on his Truth Social platform at the weekend, data from Google Trends showed. […] March 4, 2025
Banking and Finance Dubai crypto regulator Vara monitoring Bybit hack Dubai’s Virtual Assets Regulatory Authority (Vara) has said it is “actively monitoring” the fallout from a $1.4 billion hack at Bybit, a cryptocurrency exchange that has fallen victim to what it calls crypto’s largest heist. Dubai-based Bybit said hackers exploited a smart contract – a self-executing program that automates blockchain transactions – during a routine […] February 24, 2025
Video length: 05:03 VIDEO EXCLUSIVE Tech Errol Musk: Tower will be a ‘truly international institute’ Errol Musk told AGBI in an exclusive video interview during his visit to Dubai that the Musk Tower that is to be built in the UAE will serve as an innovation centre. It will also foster developments in science “that are ignored”, including “space-time travel and gravity”, he said. Discussions are ongoing with Abu Dhabi-based […] February 21, 2025
Banking and Finance Mubadala puts $436m into BlackRock’s bitcoin ETF Mubadala has invested $436 million in BlackRock’s bitcoin exchange-traded fund. The Abu Dhabi sovereign wealth fund acquired 8.2 million shares in the iShares bitcoin ETF during the fourth quarter of 2024, according to Mubadala’s latest filing to the US Securities and Exchange Commission. iShares, managed by BlackRock, is one of the world’s largest providers of […] February 17, 2025
Banking and Finance GCC needs common policy on crypto, says Saudi academic Saudi Arabia and other Gulf Arab states should develop aligned policies and regulations around the potential use of cryptocurrencies as a payment tool, a prominent Saudi academic and economist has said. While the largest Arab economy generally forbids the use of cryptocurrencies, the UAE has put some policies in place to regulate their use. “Saudi […] February 5, 2025