QuantumFy, a global technology hub, today announced its expansion into the Middle East and its membership in the MENA FinTech Association (MFTA), aimed at driving business growth in the Middle East and North Africa (MENA). Founded in 2018, the MENA Fintech Association has earned recognition as one of the top 4 fintech groups globally. With a strong presence in the Middle East and Africa, the association has been at the forefront of driving innovation and fostering collaboration in the fintech industry. The MENA FINTECH ASSOCIATION (MFTA) is an inclusive, not-for-profit association that fosters ..read more

Abu Dhabi Global Market (ADGM) has announced the launch of the world’s first-ever legal framework specifically designed for Blockchain Foundations and Decentralized Autonomous Organisations (DAOs). This pioneering framework is poised to establish a new global standard in the regulatory landscape of Distributed Ledger Technology (DLT) and blockchain sectors. Developed in active collaboration with key players in the industry, this framework uniquely caters to the regulatory and operational peculiarities of the blockchain ecosystem. It represents a major step forward in providing a solid legal st ..read more

In a decisive move to ensure the stability and reliability of digital banking services, the Monetary Authority of Singapore (MAS) has enforced a six-month moratorium on non-essential IT modifications for DBS Bank Ltd. Furthermore, the bank is prohibited from pursuing new business expansions and downsizing its existing branch and ATM operations in Singapore during this period. This decision was made in the wake of persistent service disruptions experienced by DBS Bank this year. Earlier in April, MAS instructed DBS Bank to commission an impartial third-party assessment of its digital banking su ..read more

FinaMaze, the AI Digital Wealth Manager regulated by the Financial Services Regulatory Authority in the ADGM, is pleased to announce its receipt of the “AI Fintech Innovation” Award at the Entrepreneur Tech Innovation Awards 2023, held yesterday at Sofitel the Palm, Dubai. CEO Mehdi Fichtali commented: “We are honored to receive this significant award, reflecting our ongoing commitment to integrating AI and human expertise to deliver advanced, personalized investment solutions. This recognition underscores our dedication to innovation, transparency, and the provision of realistic investment sc ..read more

EDX Markets (EDX) announced that it has partnered with Solidus Labs to provide transaction monitoring across EDX’s platform. Through this partnership, EDX plans to provide customers with seamless end-to-end transactional risk management capabilities in order to maintain the highest compliance standards across the cryptocurrency industry and reflect key institutional best practices. Solidus Labs’ HALO, an automated, comprehensive and testable trade surveillance and market integrity hub tailored for digital assets, is currently used to monitor over 250 million events and $16 trill ..read more

HONG KONG – Local crypto giants, HashKey Group and OSL, have been greenlit by Hong Kong regulators to operate as the city’s inaugural licensed cryptocurrency exchanges catering to retail investors. The move reaffirms the city’s positioning as a burgeoning global crypto nucleus. These two were, hitherto, the sole local exchanges licensed by the Securities Futures Commission (SFC) to provide specific digital asset trading services, but only to professional investors. In a significant upgrade, both were authorized this Thursday to extend their services to the general public. Gary Tiu, Head of Reg ..read more

  Num Finance, the premier issuer of local stablecoins in Latin America, announces a new strategic partnership with the all-in-one leading crypto platform in LATAM TruBit. As part of the alliance, nARS – the Num Finance-issued stablecoin that follows the price of the Argentine peso – has been listed on the popular exchange, providing TruBit users a means of trading and acquiring nARS securely and efficiently. This listing forms part of Num Finance’s wider expansion strategy to provide its stablecoin users with a wider range of tools. TruBit is a key ally for Num in its mission t ..read more

PayPal has unveiled a new stablecoin pegged to the US dollar, marking a significant step in the digital asset domain by a major US financial firm. This revelation comes after the company began offering crypto services in 2021, facilitating the buying, selling, and holding of prominent cryptocurrencies like bitcoin and ether. This novel stablecoin, christened PayPal USD, is being issued in collaboration with Paxos Trust Co. Starting Monday, users will have the option to buy, send, convert, and utilize the stablecoin for transactions in the forthcoming weeks. Further enhancing its usability, cus ..read more

Hedera, the leaderless proof-of-stake network leading the next generation of the Web, has appointed Andrew Aitken as Chief Open Source Officer (COSO), to lead its realignment as a fully open source Web3 platform. Andrew is a veteran in the open source sector, having served as an open source expert to the White House, guest lecturer for Stanford’s Entrepreneur Program and founder of the industry’s only think tank. The addition of a COSO role, rarely found in the software industry, is a testament to Hedera’s commitment to promoting community collaboration both within its ecosystem and in the ind ..read more

In a major crackdown on illicit activities in the world of digital finance, the Securities and Exchange Commission (SEC) has levied charges against crypto entrepreneur Richard Heart, whose real name is Richard Schueler. Heart, alongside three entities under his control – Hex, PulseChain, and PulseX – is accused of conducting unregistered offerings of crypto asset securities, amassing more than $1 billion from investors. Furthermore, Heart and PulseChain have been charged with fraud for allegedly misappropriating at least $12 million from the raised funds to acquire luxury goods, such as sports ..read more