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The “market neutral trading firm” named Dubai for its global headquarters as the region experiences an influx of crypto companies seeking new users. Nine Blocks Capital Management FZE bagged a crypto license from Dubai’s Virtual Assets Regulatory Authority (VARA), making Nine Blocks the first digital asset hedge fund to win VARA’s nod according to a Nov. 27 announcement. The license will allow Nine Blocks to offer virtual asset services to crypto users in Dubai, including digital asset management and investment products. Additionally, the firm plans to open a global head office in what is largely regarded as the primary international hub for the United Arab Emirates.  You might also like: Dubai offering 90% license fee discount to web3 projects This license is the culmination of a process that started with an MOU between Nine Blocks and VARA, allowing knowledge sharing and consultation. Nine Blocks press statement Nine Blocks is a self-professed “ne...

Eetu Kuneinen argued against CBDCs as they are "centralized by nature," saying that certain dangers come with government control. At the recent Future Innovation Summit event held in Dubai, Cointelegraph moderated a panel titled “Stablecoins, Central Bank Digital Currencies and Cross-Border Payments” to explore if CBDCs and stablecoins can coexist and how this would be possible.  The panel included Jorge Carrasco, the managing director of FTI Consulting; Nikita Sachdev, the founder of Luna Media Corp; Jagadeshwaran Kothandapani, the head for Middle East and Africa for Citibank; and Eetu Kuneinen, the co-founder of the gold-backed stable coin project DGC. The Future Innovation Summit held in the Jumeirah Beach Hotel in Dubai. Source: Cointelegraph The group explored various topics, answering whether stablecoins and CBDCs can coexist. According to Kuneinen, CBDCs would be “centralized by nature” as they would be issued by the government, even though they may be built on ...

BitOasis, a Dubai-based cryptocurrency exchange, has revealed a new partnership with Mastercard. The announcement was made on Tuesday in a joint statement that went live. The firms stated that the customers of BitOasis from the Middle East and North Africa will now be able to buy things online and at stores using the card. The firms also added that the partnership will help customers with dispute resolutions and refunds. It is something that is unavailable with crypto payments currently. “Currently, cryptocurrency payments and cash-outs are considered cumbersome, with the overwhelming majority of merchants not accepting such payments directly.” “The partnership will address these pain points and further drive customer awareness and crypto adoption in the region,” the firms stated . JUST IN: 🇦🇪 Dubai-based exchange BitOasis partners with Mastercard to offer #crypto-linked cards. — Watcher.Guru (@WatcherGuru) October 25, 2022 ...

The Middle East has emerged as a prominent space for crypto , metaverse, and Web3 in general. A multitude of firms was seen steering toward the Middle East offering a wide range of services. Prominent crypto investment product firm 21Shares decided to give the Middle East a glimpse of physical Bitcoin exchange-traded products [ETP]. JUST IN: 🇦🇪 21Shares lists Middle East’s first #Bitcoin ETP on Nasdaq Dubai. — Watcher.Guru (@WatcherGuru) October 12, 2022 In a recent announcement, it was brought to light that 21Shares was rolling out the first physically-backed Bitcoin ETP in the Middle East. The firm was listing 21Shares Bitcoin ETP on Nasdaq Dubai under the ticker ABTC. Hany Rashwan, CEO and co-founder of 21Shares who is from the Middle East expressed his excitement about going back to his roots. Rashwan noted that the firm was committed to offering “regional investors safe and secure access to cryptocurrency-backed products.” He ...