Al Abraaj Restaurants Group B.S.C. has become the first publicly traded company in the GCC to acquire Bitcoin as a treasury asset, partnering with 10X Capital to expand its holdings. This move pioneers shari’a-compliant Bitcoin exposure, supports Bahrain’s regulatory framework, and offers GCC investors access to digital assets via the Bahrain Bourse.
BitOasis, the Middle Eastern arm of CoinDCX, has launched in Bahrain, marking a significant step in its expansion across the MENA region. With Bahrain’s favorable regulatory environment, the move positions BitOasis for future growth in the region, empowering individuals to engage in the digital economy and expanding crypto adoption.
The MENA Fintech Association (MFTA) has partnered with D2A2 to drive digital asset innovation and Web3 growth across the MENA region. The collaboration will focus on creating a regulatory framework, fostering responsible innovation, and building stakeholder confidence in the digital finance ecosystem.
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Pakistan’s government is considering the formation of a National Crypto Council to regulate digital assets. The council would advise on policy development, address regulatory challenges, and ensure the secure, sustainable growth of Pakistan’s digital asset market. The approach will align with international standards and Financial Action Task Force guidelines.
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.
