Ripple receives in-principle license approval in Dubai
Ripple has acquired in-principle financial services license approval from Dubai’s DFSA, moving closer to offering cross-border crypto payment services in the UAE. Go to Source
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MENA’s Crypto Market Soars With Türkiye, UAE, Saudi Arabia, and Qatar Leading the Charge
According to a Chainalysis report, the Middle East & North Africa (MENA) region has emerged as a significant player in the global crypto market, ranking seventh globally with $338.7 billion in on-chain value received between July 2023 and June 2024. Türkiye leads the region, driven by high consumer engagement and stablecoin adoption amidst inflation, while … Read more
Middle East accounts for 7.5% of global crypto volume — Chainalysis
According to the World Bank, less than 50% of adults in the Middle East and North Africa region had access to adequate banking services. Go to Source
BRICS Eyes Petroyuan for Oil Trade Amid Dedollarization Push, Expert Says
BRICS nations are considering adopting the petroyuan for oil trade as part of their ongoing dedollarization efforts, according to economic expert Herbert Poenisch. He noted the BRICS group may discuss alternatives to the petrodollar at their Kazan summit. He highlighted Saudi Arabia’s potential shift towards the petroyuan and Russia’s plans to reduce dollar reliance. However, … Read more
BRICS to Discuss Alternative Payment Platforms at Upcoming Summit
Russian Foreign Minister Sergey Lavrov announced that a report on alternative payment systems for BRICS nations will be presented at an upcoming summit in Kazan. The proposal, led by Brazilian President Lula da Silva, seeks to reduce reliance on traditional financial platforms. Lavrov emphasized the increasing use of national currencies in BRICS trade, particularly with … Read more
Microsoft, G42 Open 2 AI Centers in Abu Dhabi
Microsoft and G42, a United Arab Emirates-based AI firm, have established two new AI centers in Abu Dhabi. These centers aim to promote responsible AI in the Middle East and the Global South. They will identify best practices, support AI projects for societal goals, and strengthen the relationship between Microsoft and the UAE. G42’s partnership … Read more
Crypto Biz: Crypto fever hits wealth managers
This week’s Crypto Biz explores the launch of new crypto ETFs, CleanSpark’s acquisition of new mining sites, another round of conflict between Bitfarms and Riot, and more. Go to Source
FBI Warns of Growing $55 Billion Business Email Scam
The Federal Bureau of Investigation (FBI) has warned of a rising business email compromise (BEC) threat, responsible for $55 billion in global losses over a decade. The scam has affected all 50 U.S. states and 186 countries, with funds frequently routed through banks in the United Kingdom, Hong Kong, China, Mexico, and the United Arab … Read more
BRICS Gains Global Appeal as 34 Countries Show Interest, Putin Reveals
Russian President Vladimir Putin revealed that 34 countries have shown interest in joining BRICS activities, highlighting the global appeal of the group. He detailed Russia’s role in facilitating the integration of new members, sharing updates on BRICS activities under Russia’s chairmanship. 34 Countries Show Interest in BRICS, Putin Says Russian President Vladimir Putin said on … Read more
UAE’s central bank approves custodial risk insurance product for digital assets
OneDegree executive Robin Scott told Cointelegraph that the insurance covers Web3 asset managers against the risk of losing customer funds. Go to Source