Tether to Launch UAE Dirham-Pegged Stablecoin
Tether, the major stablecoin issuer, has announced plans to launch a new stablecoin pegged to the United Arab Emirates Dirham (AED). This initiative, in collaboration with the UAE-based Phoenix Group,…
Auto Added by WPeMatico
Tether Announces Dirham-Pegged Stablecoin to Enhance UAE Financial Ecosystem
Stablecoin issuer Tether plans to launch a new stablecoin pegged to the United Arab Emirates Dirham (AED), marking an expansion in its portfolio of digital assets. Developed in partnership with…
Dubai Court Recognizes Cryptocurrency for Salary Payments
In a landmark decision, the Dubai Court of First Instance has recognized the payment of salaries in cryptocurrency under employment contracts, marking a significant shift in the United Arab Emirates…
BRICS Countries Deem US Dollar Less Important in Global Trade, Says Indian Expert
The vice chairman of the BRICS Chamber of Commerce and Industry, Sameep Shastri, has highlighted the economic bloc’s shift away from reliance on the U.S. dollar, opting instead to trade…
Ripple and DIFC Partner to Drive Blockchain and Crypto Adoption in UAE
Ripple has unveiled its plan to partner with the Dubai International Financial Centre (DIFC) Innovation Hub to promote blockchain and crypto adoption in the UAE. The collaboration seeks to encourage…
UAE’s Zand Bank to Offer Crypto Services
Zand Bank, the UAE’s first digital bank, has entered into a strategic partnership with Taurus SA, a global leader in digital asset technology for banks. This partnership will cover all…
Binance’s Local Exchange Receives Dubai License, Initiates UAE User Migration
Binance is transitioning UAE resident accounts to its new regulated local entity, Binance FZE, following a Virtual Asset Service Provider license from Dubai’s regulator. This change will allow UAE users…
Nexo Secures Preliminary VARA Approval to Launch Crypto Lending and Brokerage Services in Dubai
On Tuesday, Nexo announced its Dubai entity, Nexo DWTC, had secured preliminary approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to engage in virtual asset lending, borrowing, and broker-dealer activities…
UAE’s Central Bank Initiates Historic Cross-Border Digital Dirham Transfer to China
On January 29, Sheikh Mansour Bin Zayed Al Nahyan, Chairman of the Board of the Central Bank of the UAE, marked a momentous occasion by conducting the first-ever cross-border payment…
Binance says decision to pull Abu Dhabi licensing bid unrelated to US settlement
Former Binance CEO Changpeng Zhao, who pleaded guilty to one felony count in the United States in November, may not be able to return to the UAE before being sentenced.