Klumi Ventures and Fuze have partnered to bridge traditional finance with digital assets in the UAE. This collaboration aims to accelerate Web3 adoption by enhancing cross-border payments, offering educational initiatives, and developing new digital asset solutions. The partnership aligns with Abu Dhabi’s Vision 2030 and is set to transform the region’s financial landscape.
Saudi fintech start-up Barq has quickly gained traction since its launch, offering a financial app for global money transfers and Visa cards with various perks. With over $133 million transferred and 1 million users onboarded, Barq is revolutionizing the fintech landscape in the region.
stc pay has partnered with Bahrain’s LMRA to enhance the onboarding experience for expatriates by providing an IBAN linked to the stc pay wallet. This initiative simplifies wage payments, supports Bahrain’s digital transformation, and safeguards worker rights, making the Kingdom a top destination for expatriates and businesses.
Kuwaiti FinTech Kem has secured a $3 million investment from digital asset leader Tether to enhance P2P payments in the Gulf. The funds will drive the regional adoption of USD₮ and expand Kem’s real-time payment services, supporting economic stability in the Middle East and reflecting a growing trend towards digital financial frameworks.
Omani fintech startup Mamun Crowd Financing has surpassed RO1 million in Sharia’a-compliant funding within a year of its launch. The platform supports various sectors in Oman by connecting investors with businesses in need of financing. Mamun plans to expand its offerings with new investment products, continuing to fuel economic growth.
Kuwaiti fintech startup Kem has secured a $3 million investment from Tether, raising its total funding to $4.5 million. Kem’s platform enables QR code-based P2P payments, simplifying transactions. Tether’s investment aims to promote the adoption of USD₮ and expand digital financial services in the region.
Kem, Kuwait’s fast-growing P2P payment app, has received a $3 million investment from Tether to boost regional adoption of USD₮. This partnership aims to enhance digital financial services in the Gulf, supporting economic stability and broadening access to financial systems for underserved businesses and individuals.
AfICTA and EiTESAL are supporting Egyptian and African IT firms to join the 24 Fintech conference in Riyadh, Saudi Arabia, from September 3 to 5. This event, crucial for financial technology across Asia, Europe, Africa, and the Middle East, aligns with Saudi Arabia’s Vision 2030 for digital transformation and offers substantial networking and showcasing opportunities.
Mastercard has partnered with Scale to accelerate fintech growth across Africa and the Middle East. The collaboration aims to eliminate technical and commercial barriers for fintechs, PSPs, and telcos, enabling them to focus on core business and launch new products efficiently. The partnership benefits financial institutions, merchants, governments, and consumers by enhancing financial inclusion and access to digital services.
Tether has invested $3 million in Kuwait’s Kem App to expand digital financial services in the Middle East. This partnership aims to boost regional adoption of USD₮ and enhance access to decentralized finance. The collaboration marks a significant step in transitioning the Gulf region into a digital cash economy, promoting financial inclusion and stability.
