Abu Dhabi
Winklevoss Twins’ Crypto Exchange Gemini Plans to Apply for UAE Crypto License
The Winklevoss twins-owned crypto exchange Gemini announced that it will soon begin the process of acquiring a crypto license to serve customers based in the United Arab Emirates (UAE). The firm said that by applying for a license, it will
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UAE and Hong Kong Central Banks to Cooperate on Fintech, Virtual Asset Rules
The Central Bank of the United Arab Emirates (CBUAE) and the Hong Kong Monetary Authority (HKMA) is set to enhance collaboration between the financial services sectors of the two jurisdictions. The CBUAE and the HKMA agreed to strengthen cooperation in
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Abu Dhabi Islamic Bank Offers Remote Account Opening for Businesses
Abu Dhabi Islamic Bank (ADIB) is now offering small and medium-sized enterprises (SMEs) remote account opening services through its mobile app by deploying the Emirates Face Recognition (EFR) technology. Real time verification of trade licenses and customer data, facial recognition,
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UAE Emerges as Crypto Powerhouse in MENA, Home to 1,800+ Industry Stakeholders
The United Arab Emirates (UAE) is home to one of the largest cryptocurrency hubs in the Middle East and North Africa (MENA), an expansive ecosystem which, as of March 2023, comprised more than 1,800 industry organizations encompassing crypto projects and
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Major Trends Driving Transformation in the Middle East’s Digital Payment Landscape
In the Middle East, the digital payment landscape is changing at a rapid pace, shaped by the advent of instant payments, booming adoption of new payment methods and the rise of online retail, a new whitepaper produced by Euromonitor International
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e& Enterprise to Acquire Majority Stake in UAE Lending Startup Beehive
e& enterprise, part of e&, has signed a binding agreement to acquire a majority stake in Beehive, a peer-to-peer digital platform to tap into opportunities in the Small and Medium Enterprise (SME) lending market. Beehive, founded in 2014, leads the
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Worldpay/FIS Expands to the United Arab Emirates
FIS has announced its Worldpay merchant business will be expanding its payment processing capabilities into the United Arab Emirates (UAE) this year. Worldpay has secured a category II payment services license that allows for card acquiring and disbursements. This new
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Abu Dhabi Partnership: 48 Hours Bank Account Opening for SME’s
The Abu Dhabi Department of Economic Development (ADDED), the catalyst of economic growth in the emirate, and Wio Bank, an online bank for UAE SMEs announced their cooperation to transform how Small and Medium Enterprises (SMEs) manage their finances, payments,
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ADGM is Seeking Feedback on DLT Consultation Paper
The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has issued a consultation paper to explain the proposed Distributed Ledger Technology Foundations Regulations 2023, and seeking public feedback and comments on the proposed new legislative framework for foundations that facilitate Distributed
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Al Hilal London Bank Partnership: UAE Customers Can Open UK Bank Accounts
ADCB and its Shari’ah compliant digital banking subsidiary Al Hilal Bank have announced an innovative new partnership with Bank of London and the Middle East (BLME) to bring digital UK banking to UAE nationals and residents through Nomo. Customers in
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