Gulf Crypto Insight: Hot crypto news from the MENA region – December 9

    25 Dec 2022

    Top crypto news from the Middle East region over the last week (Dec. 10–23, 2022):

    MAG partners with CoinMENA to facilitate property transactions using cryptocurrency

    MAG, the leading real estate developer in the UAE, has signed an agreement with CoinMENA, a leading crypto asset service provider in the Middle East and North Africa (MENA), to facilitate real estate purchases using cryptocurrencies and further accelerate the growth of Dubai’s new economy. Under this agreement, the developer will accept stablecoins, including USDT and USDC.

    Stc Bahrain to start accepting cryptocurrency payments via “EazyPay” & “Binance Pay”

    Stc Bahrain has become the first telecom operator in the Kingdom to accept cryptocurrencies. The company has partnered with Eazy Financial Services, a leading Bahraini Payment Services provider specializing in POS and online payment gateway, which will allow stc customers wherein customers can pay with cryptocurrencies using their Binance wallet.

     This collaboration with Eazy Financial Services is a strategic step from stc Bahrain towards expanding the payment options with the future of currency to address the increasing demand for flexible and easy-to-use crypto payments. Moreover, it further signifies stc Bahrain’s commitment to advancing the Kingdom’s fintech landscape.

    XRP accepted as payment by top Dubai real estate developer

    XRP users can now use their assets to purchase Keturah Reserve homes. Last month, MAG, a top real estate developer in the UAE, announced the launch of Keturah Reserve, a United Arab Emirates Dirham (AED) 3 billion exclusives, a new luxury residential complex in Meydan, one of Dubai’s most sought-after residential areas.

    Keturah Reserve will feature super homes consisting of villas and one-, two-, three- and four-bedroom apartments and is part of the new luxury real estate and hospitality brand Keturah. A cryptocurrency payment option indicated in the Keturah Reserve’s official brochure supports XRP, USDT, BTC, ETH, USDC, LTC, BCH, Link, UNI, COMP, CHZ, and eight other cryptocurrencies.

    GIG Bahrain is first insurance firm to accept crypto payments

    Bahrain Kuwait Insurance Co. (GIG Bahrain) announced that it has signed a payment services agreement with Eazy Financial Services “EazyPay”, Bahrain’s leading and most innovative payment services provider.

    The agreement was held at the headquarters of the Bahrain Kuwait Insurance Company in Seef Area, in the presence of Dr. Abdulla Sultan CEO of GIG Bahrain, and Nayef Tawfiq Al-Alawi, Founder & CEO of Eazy Financial Services and Tameem Al Moosawi General Manager of Binance Bahrain. As part of the agreement, GIG Bahrain will be provided with a series of electronic payment services to help enhance business operations and therefore offer its customers an enhanced experience.

    Undeads Metaverse partners with Warner Bros. and Wabi Sabi Sound

    Undeads Metaverse, the upcoming Web3 game, announced the signing of Warner Bros. and Wabi Sabi Sound as sound design partners. The agreement puts the UAE-based team at Wabi Sabi Sound in the creative chair for audio direction and production of the Undeads Web3 game.

    AUB warns against dealing in crypto-assets citing a ‘lack of security’

    Ahli United Bank (AUB) in Kuwait warns against dealing in crypto-assets, including Bitcoin, Ethereum, Dogecoin, etc., as these currencies are untraceable and are not real, which makes them pose a danger to their traders because they are not subject to regulation or supervision by any authority.

    As part of its support for the second edition of the financial and banking awareness campaign “Let’s Be Aware,” AUB underlined in a press release that AUB draws attention to the importance of customers’ awareness of the risks of investing in high-risk products promoted via the internet, such as these crypto-assets, which are dominated by instability and high fluctuation in their prices due to global unsupervised speculations.

    Vezgo was selected by Hub71 to join its third cohort

    Vezgo, the leading crypto aggregation provider, announces that it will be joining Hub71, Abu Dhabi’s global tech ecosystem. Vezgo is among 20 companies that will be joining Hub71’s latest cohort, which is designed to support founders in scaling successful tech companies and maximize investment and commercial opportunities for them in the UAE’s capital.

    Vezgo provides a complete set of Crypto Data APIs and solutions that empower Web2 fintech app developers and financial institutions to bridge the gap into Web3. Using Vezgo, developers can quickly access all of their users’ crypto investment positions, balances, tokens, and trade history from a single Crypto Data API. Vezgo consolidates data from more than 250 crypto exchanges, wallets, and blockchains.

    Hub71 is Abu Dhabi’s accelerator program that helps early-stage startups grow and succeed through its global tech ecosystem.

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