Bahrain’s central bank is drafting regulations for stablecoin issuance to reduce transaction costs and expand financial access. The proposed laws aim to regulate digital assets, enhance security, and reduce risks like fraud and money laundering. The central bank will also monitor activities through blockchain tracking tools.
Metalpha Technology has partnered with Gewan Holding and Zodia Markets to establish ZMG7, a joint venture aimed at expanding digital asset services in the Middle East. With backing from Standard Chartered, the venture will leverage UAE’s regulatory advantages and institutional demand to drive growth in digital asset trading and wealth management.
Jordan’s government has approved an initiative to establish a regulatory framework for digital assets within a year. This framework will align with global standards, enhance the country’s competitiveness, and foster a digital economy. The Jordan Securities Commission will lead the development of the legal and technical infrastructure for virtual assets.
SettleMint and The Hashgraph Group have formed a strategic partnership within the Qatar Financial Centre’s Digital Assets Lab to drive the adoption of distributed ledger technologies (DLT) and digital assets globally. This collaboration aims to foster innovation, improve accessibility, and contribute to Qatar’s digital economy goals.
The RAK Digital Assets Oasis (RAK DAO) Conference 2024 highlighted the importance of technological innovation in establishing Ras Al Khaimah as a global blockchain hub. The event unveiled the DAO Association Regime (DARe) to support decentralized organizations and featured discussions on the future of digital assets and regulatory frameworks.
ATME, a regulated digital assets exchange, launched at FinTech Forward 2024 in Bahrain. Licensed by the Central Bank of Bahrain, ATME aims to democratize access to illiquid assets via tokenization, boosting investment potential and supporting Bahrain’s economic diversification and fintech leadership.
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.
RakBank has partnered with Bitpanda Technology Solutions to launch a platform allowing UAE residents to manage digital assets efficiently. Pending regulatory approval, this collaboration aims to transform the UAE’s digital financial landscape, providing RakBank customers with access to a wide range of digital assets and fostering sector growth.
