Gulf Crypto Insight: Hot crypto news from the MENA region – September 11

    12 Sep 2022
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    6th Blockchain Dubai Summit 2022 will be held in Grand Hyatt on October 14-15

    A two-day Blockchain Dubai Summit 2022 in Grand Hyatt on October 14-15 is going to become the leading gathering of senior decision-makers discussing the impact of blockchain and crypto technologies on industries. The event will bring together tech visionaries, entrepreneurs, investors, developers, and industry enthusiasts, among others, and offer a jam-packed program with exciting programs and speeches on trending topics on how blockchain is changing the world. This Summit will host prominent speakers who present their exclusive perspectives on the future of the most fast-growing industries in the world. 

    The 6th edition of Blockchain Dubai Summit 2022 will be held under the patronage of His Highness Sheikh Saqar Al Qasimi – a Member of the Royal Family UAE.

    Crypto Valley Association joins Crypto Oasis to boost blockchain development in the Middle East

    Crypto Valley Association, the Switzerland-based association of blockchain corporates and crypto professionals, has partnered with Crypto Oasis, Dubai, to connect the growing blockchain communities in both Switzerland and the Middle East. Sharing several of the same goals for the growth of a thriving global blockchain ecosystem, Crypto Valley Association joins forces with Crypto Oasis to boost the development and adoption of blockchain technology.

    This initiative will improve collaboration for further growth and innovation in both regions.

    Young adults in UAE are most likely to associate crypto with money transfers

    New YouGov global data suggests that consumers around the world are most likely to think about cryptocurrencies as an investment – 42%. The second strongest is “wasting time and losing money” and the joint-third are “making online payments and money transfers” and “illegal activities” – both 23%. 

    YouGov data shows that consumers in Hong Kong are most apt to think of investment when they think of crypto – 59%. Consumers in Mexico are the most likely to think of money transfers and online payments (32%), while Britons are most likely to associate crypto with illegality (36%) – to the point that they’re twice as likely to think of criminal behavior as they are to think of payments (18%).  

    In the UAE, residents are equally divided on their views about cryptocurrency. 34% of UAE residents associate it with investing/ speculating to make money. Another 35% think of making online payments and money transfers when they think of crypto and an additional 34% associate it with illegal activities. 

    Among the different age groups, adults between 25 and 34 years are most likely to associate cryptocurrency with money transfers while 55+ adults are least likely to do so.

    UAE ADGM grants Klickl a digital asset dealer and custodian preliminary license

    UAE ADGM (Abu Dhabi Global Market) has granted Klickl, a virtual asset service provider with offices in Hong Kong and Abu Dhabi, an in-principle Approval license to operate as a digital asset broker and custodian.

    Formerly known as IDCM, the digital asset exchange group recently rebranded to Klickl, representing the sound coins make when clicking in harmony and prosperity. Klickl aims to deliver that all-in-one crypto super app, which serves all crypto needs in the ever-evolving digital era.

    Palazzo Versace Dubai partners with Binance to accept crypto payments

    Palazzo Versace Dubai, an ultra-luxury property located in Jaddaf Waterfront, has partnered with crypto infrastructure provider Binance to allow guests to pay for dining, stays, and spa experiences in cryptocurrencies.

    Starting from September 7, guests can settle payments in various cryptocurrencies, such as BNB, Bitcoin, and Ethereum. For room stays, restaurants, meetings, and events, all the guests will have the option to pay at the property using the Binance payment gateway. Palazzo Versace Dubai will also accept crypto payments on their eCommerce platforms, which include Gift Vouchers and Flower Shop.

    QUINT founders donate $16 million in crypto assets to Al Jalila Foundation

    According to WAM, Al Jalila Foundation, a UAE charity organization promoting medical education and research, has received its first-ever cryptocurrency donation. The charity organization got $16 million worth of donations from the founders of QUINT.

    This donation will be used to support Hamdan Bin Rashid Cancer Charity Hospital. The hospital provides free cancer treatment to children and adults. It is one of the leading cancer treatment hospitals in the United Arab Emirates. With the help of cryptocurrency, the Foundation can now reach out to more donors and provide better services to the patients.

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