Nomura, CoinShares, Ledger joint venture Komainu wins Dubai crypto license

    Komainu completed the final step in VARA’s licensing process nearly 10 months after securing its MVP license in November 2022. Komainu, a joint venture between Nomura and crypto firms CoinShares and Ledger, has received a full operating license from Dubai’s Virtual Asset Regulatory Authority (VARA). The United Arab Emirates has opened its door to crypto…

    Abu Dhabi grants virtual asset firm M2 permission to offer crypto services

    The M2 platform will launch later in 2023, allowing UAE-based retail and institutional clients to buy, sell and custody digital assets. The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has granted financial services permission to virtual asset firm M2 to operate a multilateral trading facility from the United Arab Emirates…

    UAE signs deal to develop carbon credit system on Venom Foundation blockchain

    The UAE recently announced that it intends to reduce carbon emissions by 40% by 2030, a marked increase over its previous pledge. The United Arab Emirates Ministry of Climate Change and Environment (MCCE) is developing a carbon credit system in a preliminary partnership with the Industrial Innovation Group and the Venom Foundation. Blockchain technology is utilized…

    Binance to offer crypto broker-dealer services in Dubai with new license

    Binance is now officially allowed to offer crypto services to institutional and qualified retail investors in Dubai. Major cryptocurrency exchange Binance has reached another milestone in relationships with regulators in the United Arab Emirates by winning a new license in Dubai. Binance’s Dubai-based subsidiary, Binance FZE, has obtained an operational minimum viable product (MVP) license…

    Crypto mining hardware retailer Phoenix Technology mulls IPO in UAE: Report

    A mainstream media report highlighted that the mining hardware firm Phoenix Technology is planning to go public in Abu Dhabi, UAE. Crypto mining hardware provider Phoenix Technology is reportedly starting discussions to conduct an initial public offering (IPO) in the United Arab Emirates, according to a report by Bloomberg. The Bloomberg report cites anonymous sources who explained that…

    Abu Dhabi regulator grants trading firm Rain permission to offer crypto services

    The announcement followed crypto exchange Binance receiving similar permission from the Abu Dhabi regulator in November 2022. The Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority has granted its financial services permission for cryptocurrency firm Rain to offer brokerage and custody services to residents. In a July 25 announcement, Rain said the regulatory approval will allow…