Gulf Crypto Insight: Hot crypto news from the MENA region – October 7

    09 Oct 2022

    Top crypto news from the Middle East region over the last week (Oct. 1–7, 2022):

    Future Blockchain Summit: Chainalysis experts to discuss blockchain risks, opportunities, and compliance 

    Chainalysis, the blockchain data platform, announced its plans to participate in the 2022 edition of the Future Blockchain Summit, taking place in Dubai from Oct. 10-14. Through a series of panel and keynote discussions as well as several ‘Lightning Talks’, Chainalysis will use the event to raise awareness and educate attendees on some of the most pressing challenges and opportunities that cryptocurrencies, DeFi, and other Web3 technologies hold for the UAE and other GCC countries.

    Digital currencies transactions almost triple in Saudi Arabia year-on-year

    The number of transactions in digital currencies nearly tripled in Saudi Arabia between July 2021 and June 2022, a recent report by Chainalysis showed. During this period, more than $50 million worth of payments were made in cryptocurrency payments in the Kingdom, according to the platform that provides data on blockchain – the technology used to process and record crypto payments.

    Rain conveys the “Let’s talk crypto” webinar

    Rain, a Bahrain-based and Middle East crypto-asset platform, held its “Let’s Talk Crypto” webinar. The hour-long virtual zoom conference was held in Arabic and takes place on October 5th. The deep dive informed attendees about the intricacies of crypto-assets and how to enter this space and capitalize on investment opportunities. Attendees gained an understanding of crypto-assets and how to navigate this market as the revolutionary technology continues to reshape our world.

    Venom Foundation licensed in ADGM to build a scalable blockchain platform

    Venom Foundation has been registered as the first crypto foundation in UAE’s ADGM, with a license to operate a blockchain and issue utility tokens. The project is generating attention in MENA due to its tremendous transactional management possibilities, higher security, and inbound governmental database projects. The next essential step of Venom Blockchain – its launch – will be announced soon.

    ICBM Expo – The nucleus of game-changing technologies

    The biggest international crypto, blockchain, and Metaverse exhibition, ICBM Expo, is just around the corner. Events360 Group has announced the event to bring exhibitors, traders, specialists, and fans out of the woodwork. The major tech exhibition will be held on March 3 and 4, 2023. Conferences will take place for two consecutive days of the exhibition at a constant pace at the Festival Arena, Festival City Dubai, UAE.

    Indian crypto exchange ZebPay considers licensing in UAE

    One of India’s oldest crypto exchanges ZebPay has applied for a license in Singapore and is assessing the potential of a similar step in the UAE, outgoing CEO Avinash Shekhar told Bloomberg. Launched in 2014, ZebPay has over 5 million users and operates in 162 countries.

    “ZebPay has always been an Indian company with a global outlook. While we have and will continue to explore opportunities in international markets, India is and will continue to be our highest priority,” the firm said in a statement.

    Coinswapz opens the OTC exchange in Dubai Marina

    Coinswapz, an over-the-counter (OTC) exchange headquartered at Marina Dubai UAE, started offering users selling or buying Bitcoin and other cryptocurrencies in Dubai Marina with cash. Users can also transfer or exchange their cryptocurrency at Coinswapz using cash or credit card options from the site with no limitations on the customer’s order size.

    Emirates hires and trains 4,000 new cabin crew in the metaverse

    Emirates, the largest airline, which employs 16,000 cabin workers, is planning to increase this number by 4,000 to close to 20,000 by next year, according to Adel Ahmed Al Redha, CEO of Emirates The metaverse technology is utilized to train cabin crew, providing for efficient and precise training methods via simulated real-life circumstances. Also, the metaverse will be crucial in training both newly hired and existing cabin crew.

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