Tag: UAE

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…

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…

The United Arab Emirates’ combined Bitcoin mining capacity is estimated to be around 400 megawatts or 4% of Bitcon’s global hash rate. The United Arab Emirates (UAE) is gradually solidifying its status as a go-to Bitcoin mining destination in the Middle East. The country has established itself as a pro-Web3 destination for crypto-focused companies with over…

Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services. Cryptocurrency exchange Bybit already operates out of Dubai, but its current licensing doesn’t allow the firm to serve all customers, according to its CEO. On June 27, Bybit FinTech FZE, a subsidiary of the global…

The United-States-based cryptocurrency exchange is now seeking a license in the United Arab Emirates as it seeks to escape “hostility and [a] lack of clarity” on regulations in the U.S. The Winklevoss-owned crypto exchange Gemini has announced that it has begun the process of acquiring a crypto service license for customers in the United Arab…

The two central banks are aiming to align their financial service sectors and said both share “many complementary strengths.” Hong Kong and the United Arab Emirates’ (UAE) central banks are looking to collaborate on cryptocurrency regulations and financial technology development. On May 30, the Hong Kong Monetary Authority (HKMA) said it met with its counterparts at the…