News
$3 billion of MAG’s luxury real estate will be tokenized on MultiBank’s platform, powered by Mavryk blockchain and governed by the MBG token.
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UAE News
The UAE, or the United Arab Emirates, is a federal state composed of seven states located in the Near East. The UAE has a strong economy and currently is thirteenth in the world by GDP due to its oil production. In terms of Bitcoin, the UAE government created a legal framework in 2016 that has become the foundation for future cryptocurrency regulation. Despite these regulations prohibiting payment services from providing transactions in Bitcoin, the new law, in accordance with the Central Bank, can be interpreted differently, depending on certain situations. However, the country is a great platform for innovation. The UAE has recently accepted the UAE Blockchain Strategy in order to become one of the most advanced countries in the blockchain technology sphere.
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Abu Dhabi’s MGX will use a Trump-affiliated stablecoin to settle a $2 billion investment into Binance in one of Web3’s largest funding deals.
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According to Fireblocks policy chief Dea Markova, more countries are pushing for alternatives to US dollar stablecoins: “It’s all about sovereignty.”
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Circle received in-principle approval from Abu Dhabi regulators, moving closer to launching regulated stablecoin services and expanding global USDC adoption.
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Phoenix Group added 52 megawatts to its Ethiopian Bitcoin mining operations, raising its total there to 132 megawatts, with a reported over 500 megawatts worldwide.
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The Stacks Asia DLT Foundation's partnership with the Abu Dhabi Global Market aims to make it easier for institutions to participate in the Bitcoin economy.
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OKX and Standard Chartered launched a pilot letting institutions use crypto and tokenized money market funds as collateral, starting under Dubai’s virtual asset regulations.
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Tokinvest co-founder Scott Thiel told Cointelegraph that the new development opens up Dubai’s real estate market to global investors.
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The $108,888,888 fund will operate an “open-arms policy,” welcoming real-world asset tokenization and DeFi projects at all developmental stages.
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CLS Global is one of the “victims” of the FBI’s trap token NexFundAI, alongside Hong Kong-linked ZM Quant Investment and Russia-linked Gotbit Consulting.
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Sonic Labs scraps its algorithmic stablecoin and pivots to a dirham-based alternative, aligning with UAE’s digital currency rollout in late 2025.
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CBUAE governor Khaled Mohamed Balama said in a Khaleej Times report that the digital dirham could help combat financial crime and improve financial stability.
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Crypto adoption is increasing in the United Arab Emirates, with crypto app downloads rising 41% in 2024 from the previous year.
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Blynex co-founder Mike Baskes claimed that the liquidation was a part of their “automated risk management system.”
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Senior UAE official Tahnoon Bin Zayed Al Nahyan said he spoke with White House crypto and AI czar David Sacks about the increased use of crypto.
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