Posts From Fintechnews Middle East
National Bank of Kuwait Rolls Out Kuwait’s First Digital Bank Weyay
The National Bank of Kuwait has launched Weyay, Kuwait’s first fully digital bank for youth, according to a statement. The app is currently in beta testing and has been launched at the pre-registration stage. It will be opened on an invite-basis
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How the ADGM Uses Regtech to Regulate Virtual Assets: Report
Technology has transformed the financial industry, and regulators need to buy in. That’s the message from the Abu Dhabi Global Market’s (ADGM) latest report on regtech in the emirate. The report, titled “Powering the Future of Regulation,” noted that the
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US-Israeli Supply Chain Fintech 8fig Closes US$50m Series A
US-Israeli supply chain fintech company 8fig has closed a US$50 million Series A round, the company said in a statement. The round was raised from returning investors Battery Ventures and LocalGlobe, as well as serial entrepreneur and co-founder of Nested
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ADGM Licenses First Israeli Venture Capital Firm
Venture capital firm OurCrowd has become the first Israeli venture firm to have gained approval and licensing by the Abu Dhabi Global Market (ADGM) in the UAE, according to a statement. The firm has incorporated its wholly owned subsidiary OurCrowd
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Fintech Digest: Israel Has a New Cybersecurity Lab for Israeli Fintech Startups
In a tech solutions crossover last week, Enel X and Mastercard have launched a ‘FinSec Innovation Lab’ — a lab that focuses on cybersecurity capabilities for Israeli fintech companies — in Israel. The FinSec Innovation Lab will create state-of-the-art environments
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VentureSouq Announces US$50m MENA FinTech Fund I
GCC-based early stage venture capital firm VentureSouq has officially launched a US$50 million MENA FinTech Fund I. The MENA FinTech Fund I is the first sector-specific fintech fund to be launched across the MENA-Pakistan region, a statement from the firm
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7 Middle East Crypto Exchanges That Support Local Currencies
Last month marked 13 years since Satoshi Nakamoto’s Bitcoin white paper was first released. In these 13 years, concerns around crypto have persisted — over its volatility, decentralisation and legitimacy. However, through crashes and bull runs, these unregulated currencies have
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Crypto and BNPL Are Top Middle East Fintech Trends: Visa Report
Over 80% of consumers in the UAE and Saudi Arabia reported that they would be willing to use crypto and buy now pay later (BNPL) services, according to Visa’s CEMEA COVID-19 Impact Tracker. This interest in what are relatively new
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Saudi Insurtech Startup Rasan Fetches US$24m
Rasan, an insurtech startup based in Saudi Arabia, has secured SAR 90 million (US$24 million) in a growth stage deal, according to a statement. The round was led by Saudi Arabia-based venture capital and private equity firm Impact46, the statement
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8 Israeli Fintech Unicorns to Keep an Eye On
Israeli fintech unicorns (those based in Israel as well as US-Israeli companies) have made a splash this year amidst soaring valuations, record-breaking fundraises and a number of SPAC listings as well. This comes in the backdrop of Israel’s emergence as
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