Dubai International Financial Centre (DIFC) and Mashreq bank announced the launch of their new blockchain data-sharing platform on March 1st. This platform will allow licensed businesses and corporations to open digital bank accounts instantly by verifying their identities via an internal blockchain. Mashreq accomplishes this by removing the existing paper-based KYC procedure and replacing it […]
Moody’s Corporation has said that the new Know Your Customer blockchain platform in the UAE is credit positive for the nation’s lenders. According to the report by local media outlet The National on Feb 26, the rating agency has said that the platform will improve asset quality and boost profits. Per last week’s report, a […]
The UAE’s Ministry of Health and Prevention (MoHAP) together with the Ministry of Presidential Affairs, Dubai Healthcare City and other relevant authorities have launched a blockchain-based health data storage platform. According to the Emirates News Agency, the blockchain-based platform aims to improve the efficiency of MoHAP and other health authorities’ smart health services. It will […]
Cryptocurrency trading bans in Qatar. This Middle East country has a population of over 2.5 million but doesn’t want to adapt to the future of currency. According to the recent media reports, the Qatar Financial Centre (QFC) Regulatory Authority says that virtual asset trading remains out of sight from the QFC at this time. The […]
Wethaq, the fintech firm of Dubai is planning to create a Sharia-compliant market platform for issuing and trading Sukuk securities. The company is collaborating with the blockchain enterprise R3 Corda for this development…
The social media giant has deleted the fake bitcoin ads using the identity of the UAE crown prince, Sheikh Mohammed bin Zayed. It has become a common medium for criminals to post fake bitcoin ads in its platform. Earlier the social media giant was nearly sued to post fraud ads using images of a Dutch billionaire…
Finablr, a UAE-based payments and foreign exchange firm, has announced its collaboration with Ripple to introduce a blockchain-based payment service to streamline cross-border remittances and payment system in Thailand. The company has stated that its brands, namely UAE Exchange and Unimoni, are partnering with Ripple to make money transfer across borders faster and more secure. The organization has also disclosed its plans to extend its services to other countries, gradually.