First Abu Dhabi Bank completes cross-border payments testing on JPMorgan Onyx
The FAB pilot follows Bank ABC’s in Bahrain. JPMorgan also just launched its Tokenization Collateral Network on Onyx. Go to Source
UAE
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Dirham stablecoin DRAM hits Uniswap, developed by relaunched Distributed Technologies Research
Distributed Technologies Research has launched DRAM, a Dirham-backed stablecoin that aims to tap into the performance of the United Arab Emirates fiat currency. Go to Source
SBI works with UAE’s TradeFinex to set up joint crypto venture in Japan
SBI Holdings will work with UAE firm TradeFinex on a Japanese joint venture aimed at boosting adoption of its enterprise blockchain platform running on the XDC Network. Go to Source
Nomura’s Laser Digital receives in-principal approval for operations in Abu Dhabi
The Japanese bank joins a rapidly growing number of digital asset firms operating in Abu Dhabi and the rest of the United Arab Emirates. Go to Source
mBridge CBDC project preparing for new members, launch of minimum viable product
The project now includes central and commercial banks of China, Hong Kong, Thailand and the UAE. Future new members were not identified. Go to Source
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. Go to Source
Bitcoin may hit $100K by capturing ‘even 2%–5% of gold’s market cap’ — Hut8 VP Sue Ennis
New developments in the Bitcoin mining space have Hut8 vice president Sue Ennis convinced that well positioned miners will thrive after the next BTC halving. Go to Source
Nomura, CoinShares, Ledger joint venture Komainu wins Dubai crypto license
Komainu attained the final step in VARA’s licensing process nearly 10 months after securing its MVP license in November 2022. Go to Source
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. Go to Source
Dubai lures AI, Web3 enterprises with 90% subsidized commercial licenses
In addition to attracting talent, Dubai has also given out operational licenses to crypto exchanges over the past several months. Go to Source