ASB Capital, a Dubai-based asset and wealth management firm with assets under management of US$5.5 billion, has launched the ASB Global Technology Fund. The Fund, developed in partnership with BlueBox Asset Management, a Geneva- and UK-based specialist in technology-focused equity strategies, seeks to provide investors with access to long-term capital growth through global innovation. The ASB Global Technology Fund will invest in listed equity securities of technology-driven companies across developed and emerging markets. The portfolio will comprise 25–35 companies, each generally valued at US$1 billion or more, with a 10% exposure cap to any single issuer. The strategy covers the…

Presight has hosted its first AI-Startup Accelerator Bootcamp in Abu Dhabi, bringing together ten startups from around the world for a three-day programme aimed at scaling practical AI solutions. The Bootcamp marks the launch of Presight’s AI-Startup Accelerator, whose first cohort will continue through to December. Participating startups will take part in a structured acceleration programme, receiving technical support, introductions to Presight clients, and expert mentorship, with the goal of presenting their progress at GITEX Expand North Star 2025. The event, which began on August 18, brought together entrepreneurs, global technology leaders, and UAE institutional partners to engage with the…

BurjX, a UAE-based digital asset trading platform licensed for both brokerage and custody services by the Financial Services Regulatory Authority (FSRA) of the ADGM, has announced it is using Fireblocks, an enterprise platform that provides digital asset infrastructure solutions, to support its trading and custody operations. Amid reports of over US$2.17 billion lost to crypto theft in the first half of 2025, and with only 22% of exchanges offering full insurance coverage, BurjX aims to provide additional protection through Fireblocks’ infrastructure and comprehensive insurance underwritten by Relm Insurance, a specialty insurer for digital assets. The platform, built on technology capable…

The Dubai Centre for Artificial Intelligence (DCAI) has launched the Dubai AI Seal, a verification system developed to support the growth of the AI industry in the UAE. The Dubai AI Seal is designed to verify businesses that provide genuine AI technologies and services. By establishing a clear framework for recognition, it aims to reduce the presence of unqualified suppliers and ensure that organisations operating in Dubai can rely on credible and relevant partners. The seal classifies companies into six tiers according to their activities, ongoing and future projects, and their contribution to the economy. This system allows businesses and…

Midas, Turkey’s largest investment platform, has raised US$80 million in its Series B funding round, the largest investment to date for a Turkish fintech company. This brings the company’s total funding to over US$140 million. Midas serves 3.5 million investors with access to Borsa Istanbul, US stock markets, mutual funds and cryptocurrencies through a single platform. The new funding will be used to strengthen its security infrastructure to international standards and to develop advanced products for active traders. The round was led by QED Investors, with participation from the International Finance Corporation, HSG (formerly Sequoia China), QuantumLight founded by Revolut…

Banque Misr’s subsidiary, Misr Digital Innovation, has received approval from the Central Bank of Egypt (CBE) to transition into onebank, set to become the country’s first fully digital bank. The launch of onebank’s products and services is expected in 2026, with all offerings delivered exclusively through digital channels, according to Daily News Egypt. Sherif El-Behiry, Managing Director and CEO of Misr Digital Innovation, said: “We are not just introducing a new digital bank; we are redefining the future of banking in Egypt. Our board brings a wealth of experience and strategic vision that empowers us to deliver innovative financial solutions…

Wio Bank, the UAE’s digital bank, has introduced a direct integration with Xero, the global small business platform. The integration will allow Wio Business customers to manage accounting processes more efficiently through automated bank feeds, reconciliation, and real-time financial insights. The collaboration is aimed at SMEs and accounting professionals, helping to reduce manual data entry, lower the risk of errors, and improve cash flow visibility through invoice matching. Real-time insights are also designed to provide an up-to-date view of financial health. Prateek Vahie, Chief Commercial Officer at Wio Bank, said: “We’re pleased to work with Xero to bring effortless accounting…

Worldpay and Mastercard have announced a collaboration to enhance money movement for consumers and businesses in the UAE through Mastercard Move. The partnership will see Worldpay’s Push-to-Card solution support faster domestic and cross-border payouts to cards, covering use cases such as gig economy payments, insurance claims, remittances, and withdrawals of crypto proceeds. These transactions are supported by Mastercard’s security infrastructure. The service allows consumers to access funds more quickly, while businesses benefit from more efficient disbursement processes without needing to share bank account details. Worldpay’s merchants will also be able to use their acquiring flows to fund payouts, reducing operational…

Robinhood, the US-based neobroker, has applied for a Category 4 license from the Dubai Financial Services Authority (DFSA), indicating its intent to operate in the UAE and the broader Middle East and North Africa (MENA) region. If approved, the license would permit Robinhood to establish operations in the Dubai International Financial Centre (DIFC), a prominent financial hub. This move is part of the company’s broader international expansion, which has recently included increased activity in Europe and Asia, according to ADVFN. To lead its MENA operations, Robinhood has appointed Mario Camara as Senior Executive Officer. Camara has extensive experience in the…

Mantas, an insurtech company, has received In-Principle Approval (IPA) for a Category 4 license from the Dubai Financial Services Authority (DFSA). This approval will allow Mantas to operate as a regulated Managing General Agent (MGA) once the full DFSA license is issued. The milestone supports Mantas’ aim to provide parametric insurance solutions for cloud-reliant businesses across the Middle East and Africa (MEA) region. Once the in-principle approval conditions are met, Mantas will be granted a Category 4 DFSA license, enabling it to offer insurance intermediation services and insurance management. Mantas is the first parametric MGA in the MEA region to…

Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has enrolled 403 new students for its Fall 2025 intake, marking its largest cohort to date. This includes the university’s first undergraduate class, new graduate cohorts in existing programmes in Computer Science, Computer Vision, Machine Learning, Natural Language Processing, and Robotics, as well as the initial intakes for the Master of Science in Statistics & Data Science and the Master in Applied Artificial Intelligence. The semester received over 8,000 applications across the university’s undergraduate and graduate programmes, resulting in an acceptance rate of approximately 5%. Timothy Baldwin, MBZUAI Provost and Professor of…

Finastra has announced that AlRayan Bank, one of Qatar’s largest Islamic banks, has successfully gone live with Finastra Corporate Channels, enhancing its corporate digital banking services. The platform offers a unified and secure digital experience across multiple channels and aims to improve operational efficiency and client satisfaction. With an updated trade finance and cash management infrastructure, AlRayan Bank can introduce new mobile-first features, accelerate time-to-funds, and support business growth while maintaining client retention. The implementation was led by IBC Solutions, a regional banking services provider for the Middle East and Africa, and was completed within four months. During the same…

Money20/20 Middle East, a platform for the fintech and financial community, hosted by the Financial Sector Development Program, Saudi Central Bank (SAMA), Capital Market Authority and Insurance Authority, and co-organised by Fintech Saudi and Tahaluf, has announced its speaker lineup. The event will bring together international figures involved in finance, policy and technology. Taking place from 15 to 17 September 2025 at the Riyadh Exhibition and Convention Center in Malham, Money20/20 Middle East will feature over 350 speakers, more than 45,000 attendees, 450 exhibiting brands and 600 investors from over 40 countries. The agenda, themed Where Money Does Business, will…

Qi Card, Iraq’s largest digital payments provider, and Turkish Airlines have signed an agreement in Istanbul to launch a co-branded Mastercard debit card for Iraqi consumers. The initiative will connect 11 million Qi Card users in Iraq to Turkish Airlines’ Miles&Smiles rewards programme, allowing them to integrate their daily spending with travel benefits. Miles&Smiles, which has more than 20 million members and 31 bank partnerships in over 50 countries, offers rewards that can be redeemed across 353 destinations in 131 countries via Turkish Airlines and its Star Alliance partners. The new card will enable Iraqi consumers to earn rewards through…

Zand, a Dubai-based AI powered fintech and financial services group, has signed an agreement with Mastercard to work together on improving cross border payment solutions. Using Mastercard Move’s money movement services, the collaboration aims to provide secure and efficient international transfers for Zand customers. In the first stage, Zand will offer payment services such as deposits into bank accounts and digital wallets in several markets, along with cash collection options, through Mastercard Move’s capabilities. The initiative reflects both companies’ focus on advancing the digital economy and supporting financial inclusion in the region. J K Khalil, Executive Vice President and Division…

Tuum, an Estonia-based next-generation core banking provider, has been selected by Oliver Business Development (OBD) Holding to support its newly licensed e-banking services in the Middle East and Africa (MEA) under the Uptex Bank brand. Following the acquisition of its e-banking license, OBD is launching Uptex Bank, offering digital wallet and payment services designed to integrate with its existing financial ecosystem, including Uptex Broker, a forex and CFD broker in the MEA region, and Rizzbees, an EU-licensed crypto exchange. The bank’s services will operate on Tuum’s modular, cloud-native core platform, deployed via AWS in Europe and designed for scalability, compliance,…

The rapid growth of the proptech market holds significant importance for the UAE as it continues to position itself as a global hub for innovation, real estate, and smart urban living. By integrating advanced technologies such as AI, blockchain, the Internet of Things (IoT), as well as virtual reality (VR) and augmented reality (AR), the country is driving greater efficiency, transparency, and customer experience across the real estate sector. According to Construction Week Online, the UAE’s proptech sector, valued at AED 2.24 billion in 2024, is projected to almost triple to AED 5.69 billion by 2030, achieving a compound annual…

Fasset, a digital asset platform based in the UAE, has commenced operations in Bahrain, introducing tokenised US stocks as part of its services. Residents in Bahrain can now invest in selected US companies, gold and cryptocurrencies through a regulated, single-platform application. The company said the launch advances its objective of broadening access to global investment opportunities in developing markets. Using its compliant asset infrastructure, Fasset offers tokenised US equities for fractional investment, enabling trading at any time with transparent settlement. This approach aims to make shares in companies such as Apple, Tesla and Amazon available without the capital requirements traditionally…

Aquanow, a Canada-based digital asset infrastructure provider, has formed a strategic partnership with SGB, a fully licensed digital bank regulated by the Central Bank of Bahrain (CBB), to improve access to fiat banking services for institutional and enterprise participants in the digital asset sector. SGB, backed by Bahrain’s sovereign wealth fund Mumtalakat and Singapore’s Whampoa Group, is the only bank in the MENA region authorised to digitally onboard clients worldwide. Through the partnership, Aquanow’s clients, including exchanges, payment providers, over-the-counter (OTC) desks, neobanks, and fintech firms, will be able to open USD bank accounts, settle trades, and transfer funds by…

Fawry, a fintech company in Egypt, has announced a strategic partnership with FORSA, a subsidiary of Drive Finance under GB Capital, the financial division of GB Corp. This development aligns with Egypt’s Vision 2030, which aims to build an integrated and sustainable digital economy, and forms part of Fawry’s approach to advancing digital transformation and financial inclusion within the fintech sector. The partnership seeks to provide Buy Now, Pay Later (BNPL) options alongside instalment services through Fawry’s network of over 395,000 point-of-sale (POS) terminals across Egypt. It will also support merchants by allowing them to utilise FORSA’s services to streamline…