This Week in Crypto - 1st April 2022
This Week in Crypto - 1st April 2022

This Week in Crypto - 1st April 2022

March Madness is the only way we describe the sheer number of Blockchain-related events that happened last month. As the focus of the global Blockchain community shifts to the Crypto Oasis, we saw major exchanges like Crypto.com and Bybit already preparing to set up operations in Dubai.

There has been news of a lot of local adoption in the headlines as well, especially on the real estate front. Emaar the UAE’s largest real estate company and the master developer of the world’s tallest man-made structure Burj Khalifa announced the acceptance of Bitcoin and Ethereum as payment. While DAMAC Properties, another prominent player in Dubai real estate has announced plans to launch a metaverse project.

In the News

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  • Dubai Municipality has revealed plans to work with private sector companies and investors to create a futuristic, human-centered version of the city in the metaverse called One Human Reality. Speaking at a plenary session titled ‘Operating Cities of Tomorrow’ at the World Government Summit 2022 (WGS2022) in Expo 2020 Dubai the director-general of Dubai Municipality, Dawood Abdul Rahman Al Hajri, said that Dubai is looking to capitalise on opportunities thrown up by the metaverse. Arabian Business

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  • According to a circular, for the first time in Dubai, Emaar considered the UAE’s top real estate developer is accepting cryptocurrency. Meaning you may now be able to buy ANY Emaar property using Bitcoin or Ethereum! This new method of payment will open doors to a new target market, which is newly-minted bitcoin millionaires, further boosting the real estate market in Dubai, and enabling bitcoin users to turn their crypto-currency into valuable physical assets. Lovin Dubai

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  • The Dubai Police has announced the launch of its first set of non-fungible tokens, NFT, featuring 150 free digital assets that symbolise values of innovation, security and communication. Member of the public, whether inside or outside the country, can own these digital assets for free by participating in the Dubai Police campaign with a repost, share and necessary information for registration of interest, informed Brigadier Khalid Nasser Al Razooqi, Director of the General Department of Artificial Intelligence at Dubai Police. Khaleej Times

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  • Cryptocurrency exchanges Bybit and Crypto.com have announced plans to set up operations in Dubai, as the emirate steps up efforts to attract companies in the fast-growing industry. Crypto.com said in a statement on Monday that it will set up a regional base in Dubai, and plans to establish a “significant” presence there. Bybit will move its global headquarters to the emirate, with operations starting as early as next month, after receiving in-principle approval to conduct a “full-spectrum” of virtual-assets business in the United Arab Emirates, it said in a blog post. Gulf Business

 

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  • A school in Dubai that is scheduled to open later this year will allow parents to pay tuition fees using cryptocurrencies. The UK curriculum Citizens School, designed and developed by Al Zarooni Emirates Investments and set to open in September, will accept Bitcoin and Ether. It claims to be the first school in the Middle East to allow the use of cryptocurrencies. The National

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  • Ubuntu Tribe, a gold-backed stablecoin platform announced on LinkedIn that it has set up its global headquarters in Dubai UAE. Mamadou Kwidjim Toure, Founder, and CEO of Ubuntu Group which focuses on Advisory and Investment activities across industries supporting firms in Africa to achieve scalable and sustainable growth on the continent made the announcement during a visit to the UAE Etihad gold refinery. Unlock BC

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  • Cryptocurrency Exchange business Bybit has received in-principle approval to conduct a full spectrum of virtual assets business in Dubai, the firm announced at a joint press conference with the UAE Ministry of Economy at the World Government Summit 2022. Bybit also announced that it plans to set up its global headquarters in Dubai, offering a full suite of products and services globally, under the Emirate’s “test-adapt-scale” virtual assets market model. IBS Intelligence

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  • From June 2020 until June 2021 the Middle East region received 271.7 billion USD worth of cryptocurrency representing almost 7 percent of the global crypto value received, reflecting an increase of 1500 percent compared to June 2019 until June 2020. The growth of crypto in the Middle East was higher than the overall world adoption which had jumped 880 percent by June 2021. These results were showcased in Chainalysis 2021 Geography of Currency Report.

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  • Damac Properties, one of the UAE’s largest real estate property developers, plans to launch a metaverse project shortly, according to the company’s managing director. Damac has already developed a solution to link the real estate developer’s many platforms. The Coin Republic

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  • UAE Shorooq Partners, an early-stage venture capital firm investing to invest 150 million USD in Web3. It has launched a seed stage-focused fund, Bedaya Fund II. Bedaya FundII of 150 million USD is a continuation of the same strategy Shorooq Partners has been executing since its inception, as the firm is doubling down on the earliest stages of the startup founders’ journey. Unlock BC

  Latest Investment News

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The community-driven Algorand-Launchpad is now part of Sentio´s investment portfolio. AlgoDAO is opening its doors to new and aspiring projects launching on Algorand.

 

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Another exciting project to Crypto Oasis Sentio´s investment portfolio is Meta Mansions  which is a first- of-its-kind residential community of 8,888 virtual NFT luxury mansions launched by KEYS Token.


That's it for this week. We'll be back next Friday with more news updates.

Have a Great Weekend.


 

 

Saqr Ereiqat

Entrepreneur | Invested | Involved

2y

Nice one Faisal! Love it!

Farel Bisotto

Recently relocated to Perth, Australia, with a rich background serving prestigious luxury brands. Artistic Photographer, Car and Motorcycle Enthusiast, dedicated craftsman, and nature lover. Proud Father and Family Man.

2y

WOw .. thanks for the brillant recap

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