Gulf Crypto Insight: Hot crypto news from the MENA region – September 24

    Top crypto news from the Middle East region over the last week (Sept. 17–23, 2022): Islamic finance sector sees growth opportunities in crypto and metaverse New research of IslamicMarkets.com with leading Islamic finance professionals shows growing acceptance of crypto and digital assets and rising interest in the metaverse. Nearly 63% predict the adoption of crypto…

    Amazon to collaborate with ECB to develop a digital euro prototype

    Amazon is among five companies to develop a digital euro prototype, as the European Central Bank (ECB) revealed its selected partners to collaborate. Amazon will be responsible for designing e-commerce payments during the prototyping exercise from September to December 2022. Meanwhile, Binance CEO praised the EU regulatory framework as a global standard for crypto regulations….

    Saudi Central Bank signals its digital ambitions with a new crypto pro hire

    Saudi Arabia’s banking regulator appointed Mohsen Al Zahrani to lead its virtual assets and central bank digital currency (CBDC) program, reflecting the Gulf state’s potential crypto ambitions. So far, Saudi Arabia has taken a more cautious approach to virtual assets, with officials raising concerns about their speculative nature. Yet the emergence of the neighboring UAE…

    Central African Republic announced the launch of its own CBDC

    President of the Central African Republic Faustin-Archange Touadera announced on July 3 that the country would be launching its own CBDC, Sango Coin. The national-backed cryptocurrency initiative to increase the opportunities to build the digital assets industry in the country was revealed during the ‘Sango Genesis’ online conference. Besides the announcement of a CBDC, speakers…

    Iran plans to launch a ‘crypto rial’ pilot by the end of August

    Iran’s government is taking steps in preparation for the launch of a new digital currency, referred to as the crypto rial. The monetary authority in Tehran hopes to initiate the project’s pilot phase within the next two months. The authorities of the Islamic Republic are taking the necessary measures to launch a pilot of the…

    Qatar doubles down to develop its CBDC

    Qatar is actively exploring the possibilities of launching its first central bank digital currency (CBDC). If this happens, the country will become the first Arab nation to launch a CBDC. Meanwhile, the central banks in Saudi Arabia and UAE are collaborating on blockchain projects in the financial sector. Speaking at the recently concluded Bloomberg-powered Qatar…