Announcements

Oman’s sovereign wealth fund has acquired a $350 million stake in Crusoe Energy Systems – a US company that helps fossil fuel producers reduce gas flaring by using stranded flared gas to power crypto mining. According to Crusoe’s CEO, the first pilot project could be launched by the end of this year. According to Bloomberg,…

Yoshi Markets Limited, the UAE-based multilateral trading facility (MTF) and custodian for virtual assets, has started onboarding clients on its platform. The Yoshi Markets platform will allow traders to open an account with the ADGM-regulated Virtual Assets MTF. As Arabian Business reported, the platform will allow customers to open a trading account directly with the…

Majid Al Futtaim (MAF), a UAE-based shopping conglomerate, has partnered with crypto exchange and blockchain infrastructure provider Binance, that will provide MAF to harness Web3 technologies to future-proof its business. The deal will allow customers to purchase with crypto at MAF’s businesses. Even with the latest decline in the crypto market, blockchain technology is rapidly…

In collaboration with global investors, Binance Labs, the investment arm of Binance, has unveiled a $500 million fund to invest in crypto and Web3 startups at various phases of development. The move is representing the growing optimistic attitude to crypto investments despite the market decline last few weeks. Binance Labs said in a statement that…

UAE telecom firm e& (formerly Etisalat Group) announced launching its first collection of NFTs, becoming the first technology and investment conglomerate in the Middle East to do so. Initially, e& says its NFTs will be available to select investors. The inaugural set of NFTs from e& will be distributed selectively, with the group providing further…

Until recently, Russia was considering a complete ban on all cryptocurrencies and transactions with them. Now, the government has made a screeching U-turn, rapidly creating legislation for legalizing digital assets. The reason is the war and the severe international sanctions imposed on the country. Only three months ago, the Russian leadership was rigidly opposed to…