Caine Knight

UAE-based crypto platform BitOasis has achieved a major milestone, earning its Virtual Assets Service Provider (VASP) license from Dubai's VARA. This license enables seamless buying, selling, and trading of digital assets. 🎉✨ #CryptoNews #BitOasis #DubaiCrypto #Blockchain #VASPLicense #CryptoTrading #FinTech

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Here’s all the information about where to connect with our team at iFX Dubai and discover how we can help transform your business!

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In 2024, the UAE's crypto sector saw remarkable progress with key developments: - **Tax Exemption**: Crypto transactions are now VAT-exempt, nurturing industry expansion. - **Dirham Stablecoin (AE Stablecoin)**: The UAE is developing a Dirham-pegged stablecoin, showcasing proactive regulation. - **Regulatory Clarity**: Dubai Court rulings provided clear guidelines on crypto trading regulations. - **Growing Adoption**: Businesses are increasingly embracing crypto payments, integrating digital assets into the mainstream. - **BitOasis Acquisition**: CoinDCX acquired BitOasis, underscoring its resilience in the MENA region. - **Full Licensing**: BitOasis obtained a full VASP license from VARA, boosting investor trust. These advancements establish the UAE as a leading global crypto hub with forward-looking regulations and a flourishing ecosystem. Looking ahead to 2025 with optimism! Happy New Year! #cryptocurrency #blockchaintechnology #crypto #UAE #blockchain #fintech Sources: - [Cryptopolitan](https://lnkd.in/dnJQu29z) - [Unlock-Bc](https://lnkd.in/dyQ8AYF6) - [Arabian Business](https://lnkd.in/dv357jqS) - [Cointelegraph](https://lnkd.in/dNubE_QS) - [Zawya](https://lnkd.in/djTTZqnC

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MENA: $339bn in on-chain transaction (TX) value from July'23 to June'24 gives the region a solid foundation to lead in a #DigitalAsset future. - #UAE leads the GCC with $30bn TX but Turkey tops with $137bn! - MENA TX sizes: 27% > $10m, 27% = $1-10mm, 39% = $10k - $1m, 7% <$10k Indicating a high proportion of institutional, professional, family-office + HNWI participation. - #Saudi & #UAE lead the region in DeFi. These TX account for 7.5% of global volumes. and firmly positioning MENA as a force in the #digitalassets space. Chainalysis TOO MUCH CEX v DEX? Centralized exchanges (CEXs) = the main gateway for #cryptocurrency inflows in #Qatar & Turkey but decentralized exchanges (DEX) & applications are also a sizable share - which bodes well for DeFi. ~% Share of transaction (TX) value CEX vs DEX: - Global 51% vs 28% - Qatar 64% vs 16% - Turkey 55% vs 25% - UAE 47% vs 33% - KSA 36% vs 31% #SaudiArabia's large (32mm), youthful (63% under 30) demographic are crypto-fluent, boosting participation in [advanced] DeFi activities. With the twin regulatory engines of #Dubai + #AbuDhabi , the UAE has strengthened it's position as a hub for DeFi and crypto projects. Globally total value received by DeFi services, (inc DEXs) was up 74% vs 22/23. DEXs saw a monster 87% growth, from ~$6bn to $11.3bn. A key reason is the relative safety (thus far) of the largest DEXs vs CEXs. The top DEXs came through the 2022 market crash with zero fraud/mismanagement losses. DEXs do NOT hold any customer funds by design and are managed by smart contracts that are independently verifiable. These have proven reliable vs humans. (The top 10 inc Uniswap, Raydium Protocol, PancakeSwap, Curve have a 24hr volume of $3bn). Meanwhile CEXs + centralised yield platforms like FTX, Voyager, Celsius, BlockFi etc collapsed due to fraud/corruption + asset/liability mismanagement etc. resulted in a few billion dollars of losses for investors whose assets were often commingled. (24hr vol $50bn, Binance, Crypto.com, Bybit etc) STABLECOINS DOMINATE #Stablecoin (SCs)TX are significantly higher than the global avg in Turkey, Saudi Arabia, UAE - albeit for very different reasons. ~% Share of TX value by coin type, Stablecoin / ALT / BTC / ETH: - Global 45 / 25 / 22 / 8 - Turkey 55 / 21 / 16 / 8 - UAE 51 / 24 / 17 / 8 - KSA 46 / 30 / 16 / 8 For Turkey (and other emerging nations) with a history of economic instability + high inflation, SCs provide people a much needed stores of value. The UAE & KSA have no such issues, both are USD pegged and safely anchored by $trillions of SWF + Oil assets. The growing usage of SCs likely indicates their popularity to access broader digital asset services + trading. These TXs are a key driver behind the launch of the UAE Dirham stablecoin by Tether.io + Phoenix Group. Saudi remains the sleeping giant in this regard - the region is just getting started! https://lnkd.in/drzfxc5b

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🎲✨UAE's New Gaming Regulator 🎲✨ Exciting times ahead in the UAE! 🎰 With the launch of a new gaming regulator, the region is betting big on innovation and change. This move is more than just a roll of the dice—it's a strategic play to position the UAE as a global leader in the gaming industry. Curious about what this means for businesses and players alike? Check out our (TLP Advisors) latest article where we unpack the potential impacts and opportunities. #UAE #Gaming #Innovation #Regulation #FutureOfGaming

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If you look up the word Inveniam in a Latin dictionary, you might find a picture of this guy Patrick O'Meara. "Inveniam viam aut faciam" literally means "I shall either find a way or make one" but, to me, it is the living testament of the perseverance of a leader and team and a dream that refused to give up in the face of many challenges and demonstrated once again there is always more room in the global economy for true disruption and cutting-edge innovation. Problem: Private market assets - the biggest asset class in the world - trade infrequently. Solution: Inveniam Briefly, how does this work. In order to price an asset, you need data. In a world where data is the new oil, there is almost at times too much of it. You need tools to harness and make sense of that data. Increasingly, you need AI. That's where the standout partners G42 come in. They have many counterparties including a little software company you might have heard of by now in Seattle called Microsoft. Inveniam has more patents than you can shake a stick at. These patents "ingest" data. Think of a Bloomberg machine, sort of, with all the data you could ever possibly need to determine what a private equity holding or commercial real estate building is worth. Once you understand the asset's value better, you can make a proper bid or an offer. This leads to price discovery. And trading. Two-sided markets. Commerce. The start-up world is not for the feint of heart. I heard a great quote the other day by Jeff Bezos: "If you want to build something truly special, get ready to not be properly understood by anyone for a very long time." I think it's fair to say it has taken a whisper of time for some of the concepts and value propositions laid out by Patrick O'Meara and Inveniam to gain broad acceptance overnight. The team has worked tirelessly at this for years. I would also say, based on this deal with G42 and the partnership they have just announced and will be building for many years, the global marketplace is suddenly waking up to the idea that the dawn has finally come for private market assets to trade freely. Inveniam will be at the forefront of this most peaceful, positive, glorious revolution. And that, my friends, is a very good thing, indeed.

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Yesterday's TV interview with Sky News Arabia where we discussed the short-term outlook in #Bitcoin, trend of #cryptocurrencies & the perception of BTC as a digital-gold which has a very controversial understanding. 1st - A lot of developments , innovation & #regualtions ahead. 2nd - Bitcoin is not a safe-haven #asset, however we remain bullish . 3rd - Supply in #BTC & #gold is already known & limited and being a rare asset is giving additional value. 4th - Trump's trade is still intact , but beware of the #risk exposure. #assets #trading #hedge #gold #silver #USD #DXY #equities #trump #currencies #commodities #allocation #portfolio #digital #crypto #defi #blockchain #BTC #Eth #cardano #binance #solana Thanks again to the Sky News Arabia team , producers & presenter. BDSwiss Sky News Arabia Hazem Shaikh https://lnkd.in/gTqkuxeE

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Crypto needs the same trusted model to reduce risk and align incentives that TradFi uses to secure its assets. Learn more from Talal Tabbaa, CEO of CoinMENA. 👇

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🔒 Why Custody Matters in Crypto At CoinMENA, safeguarding our users' assets has been our top priority since day one. That’s why we partnered with BitGo, the leading custody solution in the market, from the beginning to ensure the highest security and transparency standards. Our CEO, Talal Tabbaa, discusses why separating custody from trading is critical for brokerages, adopting best practices from traditional finance, and how this approach strengthens trust in the crypto ecosystem.

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A major breakthrough and development for AIX as we join Abu Dhabi Securities Exchange (ADX)' Tabadul platform! I'm very upbeat on that one as it allows the investors of AIX trading participants who sign up for the scheme to trade ADX listed securities and vice-versa. The perfect antidote to the fragmentation of liquidity.

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new rules on marketing will come into effect for virtual asset service providers (VASP) in Dubai, which will govern all aspects of how they message the services they provide. These were issued by Dubai's Virtual Assets Regulatory Authority (VARA). Recognising the need for clear and consistent guidelines, The new 'Marketing Guidance Document' will 'serve as a vital resource for VASPs', offering detailed instructions on how to conduct compliant marketing activities in Dubai. And ensure 'VASPs can navigate the regulatory landscape with confidence'. #business #crypto https://lnkd.in/dA2SuKz2

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When it comes to AI, language isn't as complicated as it seems. Catch our CTO Matthew Durack talking about the implementation of LLMs and some of the limitations faced when deploying the technology , and what he learnt when applying it to Simpla. #fintech #uae #fintechpodcast #podcast #tech #technology #AI #LLM #NLP

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🌍 UAE Surges Ahead: A Comparative Look at the IMF’s CBDC Adoption Framework 🚀 On September 20, 2024, the IMF released a report showcasing strategies to promote financial inclusion through Central Bank Digital Currencies (CBDCs). Their REDI Framework—covering Regulation, Education, Design, and Incentives—offers a roadmap for global adoption, but the UAE has already taken a leading role 🌟. 🏦 Regulation: UAE Leading the Way The IMF calls for flexible regulations on KYC, AML, and privacy. The UAE is ahead with projects like mBridge and Project Aber, collaborating with countries like Saudi Arabia, China, and Thailand to enable cross-border payments on blockchain 🏗️. This perfectly aligns with the IMF's vision for international cooperation 🌐. 🎓 Education and Public Awareness The IMF urges public education on CBDCs. The UAE has taken it further by partnering with R3 and G42 Cloud to build awareness and infrastructure for the Digital Dirham 📲. 🔄 Design and Interoperability User-friendly and interoperable—just what the IMF recommends. The UAE’s Digital Dirham has demonstrated seamless global compatibility, with the mBridge project facilitating over 80 million dirhams in cross-border payments 💸. 🎁 Incentives for Adoption To encourage CBDC use, the IMF recommends incentives. The UAE is already driving adoption by integrating CBDCs into its banking systems, boosting global trade efficiency 🌍💼. 🔥 UAE: Setting the Global Benchmark While others are still planning, the UAE is implementing! Through strong regulation, partnerships, and tech infrastructure, the UAE is leading the way in the CBDC revolution 🚀. It’s a model for nations entering the future of digital finance 💪. #CBDC #DigitalDirham #BlockchainInnovation #UAELeadership #FinancialInclusion #GlobalTrade #IMF #FutureOfFinance #CryptoRevolution #Web3Finance

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What's in store for crypto in 2025? Our CEO Evgeny Gaevoy shared market insights during his Asharq Business اقتصاد الشرق interview With strong signals expected from the Trump administration and the new year underway, he discussed how fund managers are actively rebalancing their portfolios, particularly focusing on alternative assets. Bitcoin stands at the top of their list, with the $97k level projected to be just the beginning of significant upside potential through 2025. While gold remains attractive as a traditional hedge against inflation, Evgeny noted that the digital asset landscape offers unique growth opportunities. While gold maintains its value proposition, Bitcoin and cryptocurrencies present potential for more substantial appreciation. 🔗 Watch the full session: https://lnkd.in/gh68rhUP

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It’s great to see further endorsement from the ADGM of Zodia Markets commitment to delivering industry-leading, regulated and reliable virtual asset solutions to our clients. #cryptocurrency #digitalassets #globalfinance #bitcoin #stablecoin

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The consensus in the region is rapidly shifting. The future of money will look very different in MENA over the next 5-10 years.

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Most of these risks can be mitigated through insurance coverages and considered risk management, how well do you think your business is protected?

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