After two years of experiments, JPMorgan and the Bahraini bank will offer U.S. dollar payment settlement in several countries, with plans to expand to euro service as well.
Category: Middle East
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Binance pledges $3M in BNB to Morocco earthquake victims
Binance said it will issue a series of airdrops worth up to $100 in BNB to users located in Morocco’s highly impacted Marrakech region.
Saudi Arabia looks to blockchain gaming and Web3 to diversify economy
The kingdom is currently diversifying its economy away from oil and turning to new opportunities, such as gaming and Web3.
US regulators deny blocking AI chip exports to Middle East
The U.S. Department of Commerce denied blocking AI chip sales to the Middle East and remained silent about whether the requirements were only imposed on specific countries.
Oman launches $370-million crypto mining center: Report
The mining facility comes as part of a plan to accelerate the digitalization of Oman’s economy, mainly dependent on oil export.
Abu Dhabi grants virtual asset firm M2 permission to offer crypto services
M2 platform will launch later in 2023, allowing UAE-based retail and institutional clients to buy, sell and custody virtual assets.
Oman financial regulator seeks feedback on proposed virtual asset framework
Although the proposed virtual asset regulatory framework in Oman covers FATF-defined assets, the issuance of privacy coins might get banned.
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Nomura’s crypto arm Laser Digital bags Dubai VARA license
Laser Digital said it would also launch trading and asset management operations in the coming months, including over-the-counter (OTC) service.
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Abu Dhabi regulator grants trading firm Rain permission to offer crypto services
The announcement followed crypto exchange Binance receiving similar permission from the Abu Dhabi regulator in November 2022.
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Dubai’s VARA approves OKX ‘preparatory’ license as part of exchange’s expansion plans
The middle eastern arm of the exchange said it had opened an office in the Dubai World Trade Center and planned to increase its staff to 30 people.
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