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FinTech

eToro and Centroid Continue Middle East Expansion with Local Products

eToro signed an agreement with the Abu Dhabi Securities Exchange to offer stocks listed on the exchange.
Centroid integrated Aljazira Capital to provide its clients with connectivity to the Saudi financial markets.

Monday, 09/12/2024 | 08:00 GMT by Arnab Shome

Retail FX

Capital.com Becomes “First Fintech” to Collaborate with Amazon in the UAE

Over 500,000 Amazon customers in Dubai will receive Capital.com boxes with a chance to win AED 1 million.
The firm launches a Q4 marketing campaign, featuring a partnership with Amazon and Emirates advertising.

Wednesday, 27/11/2024 | 12:28 GMT by Tareq Sikder

CryptoCurrency

Crypto Banking in the UAE: The Path to Licensing and Compliance

Companies must meet several financial and operational criteria, such as minimum capital requirements and maintaining liquid assets.
The licensing process can take between 4 to 12 months and involves significant costs.

Tuesday, 26/11/2024 | 07:54 GMT by Ivan Herasymenko

Retail FX

AUS Global Solidifies Middle East Presence: Gains New UAE Licence

The broker gained the licence from the country’s Securities and Commodities Authority (SCA).
It also added Tawfiq Mashaqi as the Sales Director to its local team.

Monday, 28/10/2024 | 07:59 GMT by Arnab Shome

CryptoCurrency

UAE Approves Dirham-Pegged Stablecoin

AE Coin issuer plans to integrate the currency with e-commerce platforms, mobile wallets, and financial institutions.
The token enables users to participate in DeFi activities like lending and borrowing without intermediaries.

Monday, 14/10/2024 | 20:42 GMT by Jared Kirui

CryptoCurrency

MultiBank Sets Up in UAE with MEX Digital’s VARA License for Crypto Assets

The firm reports net assets exceeding $583 million and daily trading volumes of $15.6 billion.
It serves over one million traders in 90 countries and operates under 15 global licenses.

Friday, 11/10/2024 | 16:42 GMT by Tareq Sikder

CryptoCurrency

OKX Launches Fully Licensed Platform for Retail and Institutional Investors in UAE

UAE residents can use OKX for spot and express trading, qualified traders can access derivatives.
The firm has recently obtained an MPI license in Singapore to offer cross-border transfer services.

Friday, 11/10/2024 | 10:17 GMT by Tareq Sikder

Brokers

Century Financial Opens Abu Dhabi Office in UAE Expansion Push

The move aims to enhance client services and product offerings, including ADX stock CFDs and AI-enabled trading features.
The UAE is experiencing growth in retail trading, bucking the global trend of declining trader numbers

Thursday, 10/10/2024 | 07:25 GMT by Damian Chmiel

CryptoCurrency

UAE Updates Crypto Laws, Exempts Transactions from Value-Added Tax

The exemption covers the exchange and transfer of ownership of digital assets.
The changes apply retrospectively to transactions dating back to January 1, 2018.

Monday, 07/10/2024 | 13:36 GMT by Jared Kirui

FinTech

UAE Outshines Germany and Hong Kong as Top Tech Destination, Survey Shows

Nearly 45% of tech experts surveyed by Capital.com are willing to relocate to the UAE.
Government support and a favorable business environment are critical factors enhancing the region's attractiveness.

Wednesday, 18/09/2024 | 13:34 GMT by Jared Kirui

FinTech

Revolut Targets Gulf: Hiring Finance and Legal Experts for Dubai Office

The company has recently expanded into the UAE and is eyeing Saudi Arabia.
The firm opened an office in the UAE in 2022 and employs 140 staff.

Friday, 13/09/2024 | 16:30 GMT by Tareq Sikder

Payments

Mastercard Partners with NymCard for Remittance Reach to 47 Countries

The collaboration expands NymCard's BaaS capabilities and access to Mastercard’s payout network.
The report shows 48% of UAE residents plan to send more cross-border payments.

Wednesday, 11/09/2024 | 11:23 GMT by Tareq Sikder

CryptoCurrency

Standard Chartered Sets Up Digital Asset Custody Services in UAE

The bank starts the services in the UAE, with Brevan Howard Digital as the inaugural client.
It expands into the UAE's crypto sector, supporting firms like Zodia Markets and Zodia Custody.

Tuesday, 10/09/2024 | 11:09 GMT by Tareq Sikder

Retail FX

Prop Trading in the UAE: A Side-by-Side Review of How High Profit Splits Attract Traders

Finance Magnates examined AquaFunded, Blue Guardian, City Traders Imperium, and FundedNext.
All four come from the UAE, currently prop firms' third most popular destination.

Sunday, 30/06/2024 | 08:58 GMT by Damian Chmiel

Payments

Canadian Fintech Nuvei Gains Ground in UAE's $10 Billion eCommerce Market

Nuvei receives preliminary approval for a payment services license in the Middle East.
The move allows the company to offer payment technologies in the UAE eCommerce market.

Tuesday, 25/06/2024 | 10:49 GMT by Damian Chmiel

Analysis

Word-of-Mouth Drives Client Acquisition in UAE's FX/CFD Trading Market

42% of respondents opened a leveraged account following recommendations from their relatives.
The crypto market has also significantly encouraged many to try CFD trading.

Friday, 21/06/2024 | 08:09 GMT by Damian Chmiel

Institutional FX

Standard Chartered Partners with Clearstream to Support UAE Domiciled Funds

This collaboration aims to enhance fund processing and execution.
According to the two entities, the partnership gives retail clients broader access to investments.

Tuesday, 14/05/2024 | 17:01 GMT by Jared Kirui

FinTech

United Fintech Opens DIFC Office, Targets UAE's Financial Sector

Rasmus Bagger, the company's CCO, will be responsible for local operations.
The move comes when Dubai and the UAE are rapidly developing as a fintech hub.

Monday, 13/05/2024 | 06:48 GMT by Damian Chmiel

Retail FX

Capital.com Opens New Regional Headquarters in UAE after Obtaining Local License

The trading platform establishes its regional HQ in UAE under the NextGenFDI initiative.
It will serve as Capital.com's base for expansion across the MENA region and Asia.

Wednesday, 03/04/2024 | 07:09 GMT by Damian Chmiel

Brokers

Capital.com Expands in the Middle East with a New UAE License

The broker recently suspended onboarding under its UK-registered entity.
Apart from the UK and UAE license, the broker is regulated in Cyprus, Australia, and The Bahamas.

Tuesday, 02/04/2024 | 07:55 GMT by Arnab Shome

Retail FX

ThinkMarkets Gains Regulatory Approval from DFSA for UAE Expansion

The firm can introduce its trading platform, ThinkTrader to a fresh client base.
The firm has integrated TradingView into ThinkTrader to track eight charts simultaneously.

Friday, 01/03/2024 | 13:16 GMT by Tareq Sikder

Retail FX

DHF Capital Partners with ZaraFX for Strategic Asset Management

ZaraFX is set to trade CFDs with assets allocated by DHF Capital.
DHF Capital serves informed investors seeking diverse investment solutions.

Thursday, 15/02/2024 | 14:03 GMT by Tareq Sikder

CryptoCurrency

Commercial Bank International and Fuze Target UAE's Crypto Market in New Partnership

This collaboration promotes new digital asset use cases, particularly in investments and payments.
According to the duo, the partnership addresses the rising demand for regulated crypto services in the region.

Friday, 09/02/2024 | 12:51 GMT by Jared Kirui

Institutional FX

ESA Upholds Decision to Suspend Dubai Commodities Clearing Corporation

This step is linked to the EU's classification of UAE as high-risk for AML and CFT.
DCCC had appealed against ESMA's decision for the suspension.

Tuesday, 06/02/2024 | 16:07 GMT by Jared Kirui

Retail FX

NCM Investment Bolsters Middle East Presence with UAE License

The company secures a Category 1 license from the SCA, expanding its MENA operations.
The region is attracting a rising number of financial and cryptocurrency firms.

Thursday, 18/01/2024 | 08:23 GMT by Damian Chmiel

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