29th November 2023
We have had some breaking News in UAE's WEB3 Space over the past few days. The first and most exciting one is that Wio Bank and Fuze are set to Revolutionise Virtual Asset Trading asjoin forces. Wio Bank joined forces with Fuze, MENA's digital assets infrastructure pioneer, to empower customers with cutting-edge virtual asset trading. Through Wio Personal, a groundbreaking banking application, users gain seamless access to cryptocurrencies like Bitcoin and Ethereum, as well as global stocks and IPOs, redefining the landscape of everyday banking.
Secondly, The IOTA DLT Foundation has proudly announced its registration as the inaugural foundation under the DLT Foundations Regulations at ADGM (Abu Dhabi Global Markets). This significant milestone firmly establishes IOTA at the forefront of the convergence between digital and real-world applications in the financial sector, both in the MENA (Middle East and North Africa) region and on a global scale.
Endowed with over $100 million in IOTA tokens, the IOTA Ecosystem DLT Foundation will strategically distribute these funds over the next four years.
Lastly is Crypto miner Phoenix Group (PHX) achieved a staggering 33-fold oversubscription for its initial public offering on the Abu Dhabi Securities Exchange (ADX). The company aims to raise $368 million by selling almost 18% of its shares, marking a significant milestone for the UAE's crypto industry.
📈 This Week in Coins: Bitcoin and Ethereum Surge
🌐 Market Dynamics and Future Trends: A surge of institutional investment contributes to the upward momentum of crypto prices, indicating a growing interest in the digital asset space. As the crypto market continues to evolve, stay tuned for more updates on the latest trends and developments shaping the future of finance.
In other news Mastercard and Feedzai collaborate to increase Crypto fraud protection for 900 Million consumers globally, Dfinity Foundation and Singularitynet partner to transform decentralized AI with Blockchain integration and Santander offer Bitcoin, and ETH trading for Swiss account holders. KPMG Canada teams up with Chainalysis to fight Crypto frauds and exploits, New Zealand dollar stablecoin goes live through local crypto exchange and The Hashgraph Innovation Program partners with Digipharm to redefine healthcare technology.
In the News:
GC Exchange FZE secures operational VASP license and approval for operating with a client money account, a historic first in Dubai. This authorization grants brokers, hedge funds, family offices, and professional traders the ability to leverage GCEX’s extensive liquidity in digital assets, along with a suite of technology solutions. Unlock Blockchain
Fuze receives an operational broker dealer license from Dubai’s Virtual Asset Regulatory Authority. Homegrown UAE start-up will be one of the first businesses to operate under a Virtual Asset Service Provider (VASP) Licence from VARA.Zawya
New Ethereum layer 2 Blast attracts $30M hours after bridge goes live. Blast boasts prominent investors Paradigm and "eGirl Capital" members among others, but there’s no way to withdraw funds until February. Coindesk
Klever announces a major investment commitment of $20M from GEM Digital Limited. This substantial funding, evenly allocated with $10 million earmarked for both KLV and KFI tokens, underscores a strong endorsement of the vision to revolutionize the realms of blockchain and Web3. Yahoo Finance
Mastercard and Feedzai collaborate to increase Crypto fraud protection for 900 Million consumers globally. Mastercard and Feedzai join forces to protect millions from crypto fraud by integrating cutting-edge technology into transaction analysis. Bitcoin.com
Dfinity Foundation and Singularitynet partner to transform decentralized AI with Blockchain integration. Dfinity Foundation and Singularitynet join forces to empower decentralized AI through blockchain integration, addressing transparency concerns and offering tamper-proof. Bitcoin.com
Santander offers Bitcoin, ETH trading for Swiss account holders. All clients of Santander Private Banking International’s Swiss private banking unit will have access to buy, sell and hold BTC and ETH, an internal communication confirmed. Cointelegraph
AVAX Ecosystem to get $10M boost from Avalanche accelerator Colony Lab. Colony Lab will set up a network validator and invest in an index that tracks prominent Avalanche projects. Coindesk
KPMG Canada teams up with Chainalysis to fight Crypto frauds and exploits. The duo will help companies adhere to crypto regulations and advance anti-money laundering compliance programs.Coindesk
Luxor starts new business to make shipping of Bitcoin mining rigs faster. Luxor Technologies initiates Luxor Logistics to streamline global Bitcoin mining hardware shipping, easing customs complexities and aiding miners in a competitive landscape ahead.Coindesk
City of Lugano integrates Polygon into its crypto payment system. Polygon has been a partner of the Swiss city since at least 2022, providing the infrastructure for its stablecoin. Cointelegraph
Crypto exchange Bullish buys 100% stake in crypto media site CoinDesk. Bullish acquires CoinDesk in an undisclosed all-cash deal, securing the prominent crypto media platform amid reports of financial struggles. Cointelegraph
Bitcoin transaction fees flip Ethereum’s as Ordinals hype returns. Bitcoin transaction fees have soared above Ethereum’s amid a renewed appetite for Ordinals-inscribed assets. Cointelegraph
Circle launches ‘bridged USDC standard’ for deploying to new networks. Circle published a new standard that allows developers to launch an unofficial bridged version of USDC that can later become native and official. Cointelegraph
New Zealand dollar stablecoin goes live through local crypto exchange. Easy Crypto launched the aptly named New Zealand Dollar Stablecoin (NZDD) in partnership with an Australian blockchain development firm. Cointelegraph
Arte News:
NORDEK launches "NORDEK Finnovate" - A $10M grant rogram revolutionizing Web3 payments. NORDEK introduces 'NORDEK Finnovate,' a $10 million grant program propelling Web3 payments innovation through funding, mentorship, and global networking. Cointelegraph
The game studio behind Matr1x Fire raises $10 Million for NFT mobile shooter. Crypto VC firms have infused the studio behind Matr1x Fire with $20 million in funding. Decrypt
Crypto gaming protocol Saga raises $5 Million ahead of mainnet launch, Community Airdrop."Blockspace on Saga is theoretically infinite because you can spin up as many chains as you like all in parallel," said Saga CEO Rebecca Liao. Decrypt
Ubisoft's 'Champions Tactics' NFT game is coming to Animoca's 'Mocaverse'. Animoca Brands and Ubisoft are teaming up to add Champions Tactics to the Mocaverse Frequent Player Program. Decrypt
Nike drops sneakers with NFTs. Nike's collaboration with RTFKT offers its new Dunk Genesis sneakers for public purchase without requiring an expensive NFT. Decrypt
Ubisoft is bringing Rayman, 'Captain Laserhawk' NFT avatars to The Sandbox. Ubisoft ventures deeper into blockchain, releasing 1,866 NFT avatars inspired by its iconic characters for The Sandbox. Decrypt
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User-friendly interfaces are a must for mainstream adoption of web3 | Opinion. Enhancing user interfaces and incentivizing active data management are pivotal challenges for web3's widespread adoption despite the rising interest in decentralized applications. Crypto News
How Ubisoft, Xbox, and Blizzard are using AI to make next-generation games. Game studios are turning to AI to automate the most tedious elements of development and instantly conjure characters. Decrypt
Solana Blockchain games thrive on the Epic Games store – next big thing? Solana emerges as the fourth most favored blockchain for game developers, boasting over 125 titles on the Epic Games Store, including Star Atlas, Aurory, Yaku, Chain Crisis, and Angelic, all emphasizing fair play and immersive experiences through NFTs and tokens. Crypto News
Free-to-play Web3 games hold the key to mass adoption — YGG co-founder. Gabby Dizon, the co-founder of Yield Guild Games, says a renewed focus on free-to-play gaming will help boost Web3 game adoption. Cointelegraph
Sleek, the Web3 social network, raises US$5m to power the ownership economy. Sleek raises $5 million in a seed round to revolutionize networking and enable direct monetization of content, propelled by their flagship product Sleek Card. Yahoo Finance
Socrates launches a groundbreaking social media and entertainment platform for Web3 users globally. Socrates incentivizes users to engage in debates, share knowledge, and combat misinformation while earning rewards. Yahoo Finance
GameOn partners with Sportsology to develop next-gen fantasy sports $GAME infrastructure. The deal is projected to have a total expected value of $9.3 million over a five-year period, and it is expected that the partnership will expand, presenting additional opportunities. Top World News Today
Decrypt, Fananees NFT and Weconn launch Web3 courses in arabic. Decrypt U in Arabic, Fananees NFT, and Weconn, introduces free blockchain courses with on-chain NFT certificates, aiming to democratize Web3 education in the MENA region. Decrypt
MIDƐM+ Cannes Event to rally music industry with XR, Web3. The event aims to function as a platform, market, and music festival, fostering connections among professionals, facilitating idea generation, hosting panel discussions, and contributing to the success of musicians globally. XR Today
The Green Block News:
UAE to establish carbon registry to measure companies’ emission cuts - Bloomberg. The UAE is establishing a carbon registry to track emissions reduction efforts by companies and is poised to introduce a carbon credits trading program. Zawya
ADGM, the region's leading climate finance hub, announces its role as principal partner at COP28. ADGM secures 'Principal Climate Finance Partner' role at COP28, showcasing its leading climate finance hub status and hosting the Abu Dhabi Sustainable Finance Forum to address global sustainability targets. Zawya
DFM and Shanghai Stock Exchange sign MoU to advance cross-border collaboration. Dubai Financial Market and Nasdaq Dubai join forces with the Shanghai Stock Exchange, signing an MoU to deepen collaboration, and explore joint product development. Media Office
JLL’s Dubai office at ICD Brookfield Place attains LEED Platinum Certification. The milestone achievement is in line with the company’s ambitious long-term net-zero carbon goals. Zawya
ESG Hospitality partners with Hilton to develop Mallside Residence and Hotel, Curio Collection by Hilton, at Dubai Hills Estate. ESG Hospitality partners with Hilton to build Mallside Residence & Hotel, Curio Collection by Hilton marking ESGH's foray into upscale hospitality. Zawya
Sustainability Forum Middle East welcomes Zu'bi & Partners as forum partner for the 2024 edition. Zu'bi & Partners joins the Sustainability Forum Middle East as a key partner, underscoring its dedication to supporting climate action through legal expertise in environmental transitions and aiding climate funds across the MENA region. Zawya
Gulf region’s bond issuances to benefit from COP28 awareness: Fitch Ratings. Fitch Ratings anticipates a surge in sustainable sukuk in the Gulf region, particularly in the UAE, due to heightened awareness from COP28. Arab News
Huawei to unleash the power of digital to build new green Egypt. Huawei showcases cutting-edge ICT solutions at Cairo ICT, emphasizing digital transformation for a sustainable future in line with Egypt's 2030 vision. Zawya
ESG fund predicted to boost Thai stocks by up to B70bn. A proposed ESG fund could funnel up to 70 billion baht into 114 Thai stocks, potentially influencing the Stock Exchange of Thailand's index performance. Bangkok Post
Breathe ESG raises pre-seed round funding. Breathe ESG secures $315,000 pre-seed funding to enhance global expansion and bolster sustainability services for enterprises. Bizz Buzz
The Hashgraph Innovation Program partners with Digipharm to redefine healthcare technology. Digipharm partners with The Hashgraph Association to revolutionize healthcare through innovative blockchain solutions, amplifying patient care and engagement worldwide. Zawya
Web3.0 and sustainability: Green blockchain solutions. Blockchain's evolution from an energy-intensive technology to a sustainability linchpin marks a significant shift, offering transparent energy distribution, incentivizing clean energy and revolutionizing waste management and water supply. Financial Express
A unified approach to disclosure aims to cut cost and ease deal-making. ISSB and GRI, major ESG standards bodies, join forces to streamline reporting, aiming to align Asian companies' disclosures and potentially cut costs for investors, enhancing clarity in ESG reporting and easing M&A processes. The Star
Cundall conversations fuel urgent climate action in built environments. Cundall's "Conversations" campaign amplifies the urgency for collaboration and innovation in the built environment, showcasing key leaders' efforts toward decarbonization ahead of COP28. MEP Middle East
Tayyib seal launches to incorporate Shariah-compliancy with ESG standards for Islamic investments. Jupiter Asset Management and the UK Islamic Finance Council partner with the Global Ethical Finance Initiative to introduce the Tayyib seal, bridging Shariah compliance and ESG standards in Islamic finance. Zawya