UAE

UAE Central Bank Launches Digital Dirham
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UAE Central Bank Launches Digital Dirham

The Central Bank of the United Arab Emirates (CBUAE) has launched a strategy to introduce the digital dirham, a new form of national currency (Central Bank Digital Currency, CBDC). The project is part of the state Financial Infrastructure Transformation Program (FIT program), aimed at accelerating the digitalization of the financial services sector. To implement the...

Abu Dhabi to Back the Growth of WEB3 Startups with $2B
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Abu Dhabi to Back the Growth of WEB3 Startups with $2B

Abu Dhabi’s technology ecosystem, Hub71, has announced a new initiative called “Hub71+ Digital Assets,” with a capital backing of over US$2 billion. This project aims to advance Web3-based innovations, such as blockchain technology and metaverse applications. The initiative aspires to provide Web3 startups with access to a range of programs, and initiatives, as well as,...