Bybit has filed a civil lawsuit in the US District Court for the District of Columbia against North Korea, its Reconnaissance General Bureau, and the Lazarus Group over the February 2025 cyberattack that stole US$1.5 billion from the exchange. Bybit also secured a preliminary injunction freezing identified stolen assets held by unidentified individuals and entities, named in the case as John Doe defendants. The court found that “Bybit has demonstrated a likelihood of success on the merits” in its lawsuit, and separately described the February 2025 incident, in granting an earlier temporary restraining order, as “one of the largest cryptocurrency…

ADI Chain and Shipfinex have entered an exclusive partnership to develop a regulated, institutional-grade tokenised maritime asset class, creating an on-chain market for vessel-backed finance, charter-linked income, and economic interests in ships. Maritime Asset Tokens will be issued through a regulated route and made available exclusively on ADI Chain. Neither company has yet issued any tokens publicly. Over 80% of international trade by volume moves through maritime transport, yet investment remains concentrated among shipowners, banks, and specialist financial institutions. Petrofin’s Global Ship Finance research valued the commercial fleet at approximately US$2.17 trillion at the end of 2025. Total global ship…

Botim, the UAE fintech platform owned by Astra Tech, has partnered with Mastercard to launch Mastercard One Credential, a card that lets eligible cardholders switch between prepaid balances and credit funding through a single digital interface. Mastercard described the launch as the first rollout of One Credential in the UAE and across Eastern Europe, the Middle East, and Africa (EEMEA). The company, though, had already named Wio Bank, another UAE digital bank, as one of its original global launch partners for the same technology when it debuted worldwide in February 2025. Global consumer research cited by Mastercard found that 83%…

Emirates NBD has announced a strategic partnership with Dubai Future District Fund (DFDF) to drive fintech and AI innovation and improve customer experience, according to a statement on Emirates NBD’s media centre. Under the partnership, both organisations will jointly source, pilot, and adopt technology-driven solutions aimed at improving the efficiency and quality of financial services for Dubai’s residents. DFDF is Dubai’s AED 1 billion evergreen venture capital fund of funds, anchored by the Dubai International Financial Centre and the Dubai Future Foundation, with a mandate to fund early-stage startups shaping the future of finance. The partnership gives Emirates NBD access…

Tether is partnering with First Advanced Data for Artificial Intelligence (FirstData) and BKN301 to accelerate the tokenisation of institutional-grade real estate assets in Saudi Arabia. The digital asset company will deploy its Hadron by Tether platform as the core technology infrastructure for issuing, managing, and administering tokenised assets. Riyadh-based FirstData will serve as the commercial lead, issuer, and primary market operator for the tokenised real estate assets. The company combines artificial intelligence with digital asset infrastructure to support the ownership, trading, and management of real-world assets. BKN301 will support the integration of Hadron by Tether into FirstData’s operating framework. It…

Edenred UAE has received in-principle approval from the Central Bank of the UAE (CBUAE) for its application to operate as a licensed Stored Value Facility (SVF) provider. The payroll solutions company currently serves more than 2.5 million employees across the country, many of whom rely on salary cards as their primary method of receiving and accessing wages. The in-principle approval marks an intermediate step in the CBUAE’s licensing process. This stage evaluates an applicant’s governance, compliance, cybersecurity and operational controls. Edenred UAE will now focus on completing the remaining regulatory requirements before receiving a full SVF license. The company has…

Moove has raised US$250 million in a Series C funding round led by Abu Dhabi sovereign investor Mubadala Investment Company. The mobility company, which initially built its business by financing ride-hailing vehicles, is expanding its capital and operations platform to fund and manage autonomous vehicle fleets. The funding round values the company at US$2.1 billion. Woven Capital and Ion Pacific co-led the investment, with participation from new backers BlueCrest Capital Management and Sona Capital. They join existing investors including BlackRock, MUFG, and Franklin Templeton. Moove will direct the funds towards its autonomous vehicle operations. This includes expanding autonomous fleet ownership…

Mastercard and Arab Financial Services (AFS) have introduced a corporate credit and prepaid card offering integrated with the AFS Pro mobile app in the UAE. The solution combines corporate spending management and payment acceptance capabilities into a single platform. This allows businesses to manage outgoing expenses and incoming payments together. Initial rollout will take place in the UAE before expanding to Egypt. Through the app, companies can issue corporate cards, apply spending controls, and monitor transactions in real time. Payment acceptance tools are also available within the platform. These include SoftPOS technology, which enables merchants to accept contactless payments directly…

MoneyHash has integrated its payment orchestration platform with Azm Fintech’s Edaat platform to expand merchant access to Saudi Arabia’s digital payment ecosystem. The partnership enables businesses using MoneyHash to connect to Edaat’s payment gateway and access SADAD KSA alongside local billing and collection capabilities. Through a single integration, merchants can streamline payment acceptance, automate collections, and improve reconciliation processes while operating on infrastructure aligned with Saudi Arabia’s regulatory requirements. The collaboration comes as businesses in Saudi Arabia seek scalable financial technology solutions to simplify payment operations and support growth. By connecting merchants to local payment infrastructure, the integration reduces the…

The UAE Ministry of Finance has integrated the Aani instant payment platform and the Jaywan domestic card scheme into its collection channels for federal service fees and fines. The ministry is the first federal entity to implement the systems, paving the way for other government entities and collection banks to roll out the platforms in line with their approved procedures. Cabinet Resolution No. 176M/4M of 2026 supports the rollout. It establishes the adoption of the two national platforms and their applicable usage fees. The initiative forms part of broader efforts to modernise government revenue collection. It also deepens integration with…

Digital payments company Pyypl has appointed Mustafa Amralla to strengthen its compliance and financial crime function as the company expands its regulatory capabilities across regional markets. Pyypl operates across regulatory frameworks overseen by the Financial Services Regulatory Authority (FSRA) in Abu Dhabi, the Central Bank of Bahrain, and the Astana Financial Services Authority within the Astana International Financial Centre. These jurisdictions require consistent internal standards for anti-money laundering, KYC, sanctions, and governance frameworks. Amralla joins Pyypl from Bahrain’s national anti-financial crime platform AMAN, where he served as Compliance Manager and Money Laundering Reporting Officer. He previously held compliance roles at…

Saudi Arabian insurtech DESAISIV has launched an AI platform to automate corporate insurance management and opened an US$8 million growth funding round. The company plans to use the capital to expand its product portfolio beyond corporate health insurance. It will enter areas such as motor insurance, leasing, general insurance, and other AI-powered enterprise risk solutions. Corporate insurance remains a major operational expense for businesses. Many organisations still rely on manual workflows, fragmented systems, and spreadsheets to manage their insurance needs. DESAISIV’s AI Insurance Agent uses advanced analytics to benchmark market pricing and evaluate policy performance. It also identifies cost-saving opportunities…

Emirates NBD Egypt is set to acquire HSBC Egypt’s retail banking business, transferring the bank’s retail loans, deposits, accounts, and supporting employees to the UAE banking group. The transaction forms part of HSBC’s broader effort to simplify its operations and focus on its corporate and institutional banking businesses. The parties expect to complete the deal in the second half of 2027, subject to regulatory approvals. HSBC expects the sale to generate an estimated pre-tax gain of around US$300 million. It will recognise the gain mainly upon completion and classify it as a material notable item. The transaction will have an…

MultiBank Group’s digital asset platform mb.io has integrated Botim to allow users in the UAE to fund their accounts directly within its trading app. The integration leverages Botim’s payment flow to reduce reliance on external payment steps. Account funding remains a fragmented process for many digital asset platforms. Users are frequently required to leave their trading application to complete payment steps elsewhere before returning to execute a trade. By adding Botim as a payment method, mb.io allows users to complete the funding process through a familiar interface. The partnership aims to reduce friction in the transition from fiat to digital…

du Pay has launched Flexi Cash Loan, a digital lending product that offers eligible customers up to AED 5,000 in short-term credit. The service targets customers with limited access to traditional banking products, including blue-collar workers, expatriates, and young professionals in the UAE. The company is introducing Flexi Cash Loan in phases, initially making it available to a portion of registered users. Customers can check their eligibility through the du Pay application, while du Pay disburses approved loans in less than 30 seconds without requiring physical paperwork. du Pay assesses eligibility based on customers’ usage of its digital wallet for…

Mawarid Finance and KamelPay have launched AbsoluteCard, a new corporate payment solution for businesses in the UAE. Powered by Mastercard and issued by Mawarid Finance, the product marks KamelPay’s expansion from workforce payments and salary processing into broader corporate expense management. The solution gives organisations real-time visibility and control over business spending, allowing companies to manage expenses digitally and streamline corporate payment processes. KamelPay previously focused on workforce payments through its PayD ecosystem, which the company said currently serves more than 1,600 corporate clients across the UAE. “Our collaboration with KamelPay reflects a shared vision of simplifying corporate financial management…

KamelPay has received Stored Value Facilities (SVF) and Retail Payment Services (RPS) licenses from the Central Bank of the UAE (CBUAE), allowing the UAE-born fintech to operate regulated payment services under the country’s payment framework. The approvals place KamelPay among a select group of fintech companies authorised to operate regulated payment services under the CBUAE framework. Founded in 2021, KamelPay provides payroll and business payment solutions for organisations across sectors including construction, retail, real estate, logistics, hospitality and financial services. The company currently serves more than 2,000 corporate clients and supports payments for over 400,000 employees across the UAE. The…

Commercial Bank of Dubai (CBD) has launched CBD Invest, a digital wealth management platform integrated directly into its existing mobile banking application. The product targets affluent, Elite and Private Banking customers. It offers direct trading of US-listed equities and ETFs alongside consolidated financial tracking. At the core of the offering is a feature called wealth 360, which the bank describes as a first in the market. The tool provides a unified view of a customer’s financial position. It aggregates CBD accounts with selected external assets and liabilities. CBD Invest also includes advanced portfolio analytics designed to support goal-based investing. Users…

Spend management platform Pemo has received in-principle approval for a Stored Value Facility (SVF) license from the Central Bank of the UAE (CBUAE). The approval will allow the company to hold and manage business funds digitally once the full licensing process is completed. Pemo expects to secure the final license in the coming months. The license, once granted, will allow the company to introduce a broader suite of financial products, including digital wallets and dedicated fund-holding capabilities tailored for SMEs. Enabling digital fund management An SVF license enables regulated entities to hold customer funds in digital accounts. This framework allows…

Emirates has launched Crypto.com Pay as a payment option for eligible UAE residents booking flights through its website and mobile application. Customers with a Crypto.com account can now select Crypto.com Pay at checkout for eligible bookings priced and settled in AED. Desktop users scan a QR code on the booking page and approve transactions through the Crypto.com app. Mobile users open their Crypto.com wallet to complete payments before returning to Emirates’ platform to receive booking confirmation. The launch follows a MoU signed between Emirates and Crypto.com in July 2025. The agreement explored the integration of Crypto.com Pay into the airline’s…