ChainCatcher news, according to official sources, the UAE subsidiary of stablecoin issuer Paxos, Paxos International, announced today that the yield-bearing stablecoin Lift Dollar (USDL) is now live on Arbitrum.It is reported that USDL is a fiat-backed token issued by Paxos International, regulated by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).

ChainCatcher news, according to SolanaFloor, the Solana Breakpoint 2025 conference will be held from December 11 to 13, 2025, in Abu Dhabi, UAE.

ChainCatcher news, according to Cointelegraph, the Abu Dhabi financial regulator plans to regulate fiat-referenced tokens (FRT), and the regulator has invited the public to provide feedback on the proposed regulatory framework. The Financial Services Regulatory Authority (FSRA) stated that the proposal defines FRT as a digital asset whose transfer and storage are electronically achieved through the use of distributed ledger technology.The Abu Dhabi Global Market Financial Services Regulatory Authority (FSRA) indicated that FRT issuers will be subject to operational restrictions and requirements. The FSRA proposed that the market value of reserve assets should be at least equal to the face value of all circulating FRT at the end of each business day. FRT should also be valued at the daily market price. The regulator further suggested that institutions issuing two or more FRTs should operate and maintain independent reserve asset pools for each FRT and manage each reserve asset pool separately.The FSRA has set October 3, 2024, as the deadline for submitting comments on the proposal. After receiving feedback, the FSRA will consider whether modifications to the proposed regulatory framework for FRT are necessary.

ChainCatcher news, Gate.io's venture capital arm Gate Ventures has announced a partnership with the Abu Dhabi Blockchain Center, a global Web3 technology hub, to launch the Falcon Gate Ventures fund, which will amount to $100 million, aimed at driving innovation in the Web3 space over the coming years. This collaboration is intended to support Web3 developers who are focused on leading change in the digital age, while showcasing Gate Ventures' global vision and strategy.Falcon Gate Ventures is dedicated to developing decentralized infrastructure and applications, and promoting the widespread adoption of cutting-edge technologies. It will support high-potential projects globally, with a focus on technological innovation in the Middle East, Asia, the United States, and other key regions. The fund plans to drive the growth of the global Web3 ecosystem, promote economic development, and solidify the UAE's position as a hub for the international digital economy. Additionally, Falcon Gate Ventures will work closely with international regulatory bodies to establish a regulatory framework that balances innovation and security.Gate Ventures partner Kevin Yang stated that Falcon Gate Ventures is an important initiative by Gate to promote global blockchain innovation, and it will collaborate with the Abu Dhabi Blockchain Center to invest in the digital future and support innovative ideas worldwide.

ChainCatcher news, Nomura's cryptocurrency division Laser Digital Limited has obtained a brokerage license for traditional and digital assets in the Abu Dhabi region.The new license will enable Laser Digital to provide brokerage services for digital and traditional assets, as well as asset and fund management services in the region.

ChainCatcher news, Sui developer Mysten Labs co-founder Kostas Kryptos stated on social media that he is creating a modern cryptography and AI innovation center in Dubai and Abu Dhabi, and will attempt to "occasionally" invite well-known figures in the field.Currently, he has planned to release unique ideas surrounding ZKP, MPC, FHE, differential privacy, Web3 UX, Anon Credentials, on-chain AI, audit AI, DePIN data compression and parallelization, new key management, identity, voting, and verifiable execution.He stated that the goal is to "gradually elevate the technological level across the Middle East and North Africa region and discover the emergence of technologically competitive startups."

ChainCatcher news, according to CoinDesk, the subsidiary of the Singapore-based custody service provider Liminal, First Answer Middle East, has obtained a Financial Services License (FSP) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), allowing it to operate as a regulated custodian in the Middle East.

ChainCatcher news, according to Bloomberg, QCP Capital has received preliminary approval to operate in Abu Dhabi, becoming the latest cryptocurrency company to expand into the Middle East.According to a statement on Tuesday, the seven-year-old company has received in-principle approval from the Abu Dhabi Global Market Financial Services Regulatory Authority to conduct regulated activities. According to a spokesperson from the Abu Dhabi Global Market, the company is the first Singapore digital asset market maker and broker to receive preliminary approval.

ChainCatcher news, LINE's public blockchain project Finschia has registered as a DLT foundation in the Abu Dhabi Global Market (ADGM). In addition, the Finschia Foundation will collaborate with several enterprises in Abu Dhabi to develop accessible Web3 services for global users based on its public blockchain Finschia.It is reported that the Finschia DLT Foundation was first established in March 2023 by LINE's blockchain subsidiary LINE Tech Plus, dedicated to collaborating with global Web3 users to develop sustainable token models.

ChainCatcher news, according to Bloomberg citing informed sources, Abu Dhabi is establishing a technology investment company MGX, aiming to invest in the fields of artificial intelligence and semiconductors, with assets under management potentially exceeding $100 billion within a few years. MGX will be founded with sovereign wealth fund Mubadala and artificial intelligence company G42 as core partners, with Ahmed Yahia Al Idrissi, CEO of Mubadala's direct investment platform, serving as the CEO of the new entity.It is reported that MGX will be chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the National Security Advisor of the United Arab Emirates, with Khaldoon Al Mubarak, CEO of Mubadala, serving as vice chairman. Other board members include Jassem Al Zaabi, Vice Chairman of the UAE Central Bank, G42 CEO Peng Xiao, and Al Idrissi.

ChainCatcher news, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi International Financial Centre has announced revisions to its anti-money laundering and sanctions rules and guidelines to clarify the requirements previously outlined in the anti-money laundering rules. This reflects the UAE's federal regulatory framework aimed at combating money laundering, terrorist financing, and proliferation financing, as well as ensuring compliance with targeted financial sanctions rules. In particular, some subtle drafting changes have been made to the wire transfer provisions to more clearly indicate that the Financial Action Task Force (FATF) "Travel Rule" applies to virtual assets.

ChainCatcher news, according to Crowdfund Insider, the Abu Dhabi-based cryptocurrency custody service company Changer.ae has obtained a cryptocurrency custody service operating license issued by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA).It is reported that Changer.ae offers subscription-based services for storing virtual assets and plans to expand its product range in early Q1 2024, including converting virtual assets into fiat currency and custody arrangements with undisclosed banking partners.

ChainCatcher news, according to Reuters, a spokesperson for Binance stated on Thursday that Binance's investment company, BV Investment Management, has withdrawn its license application to the Abu Dhabi financial regulator.The regulator's website shows that Binance submitted the application a year ago and withdrew it on November 7 of this year. The license would allow Binance's subsidiary to manage a collective investment fund. The Binance spokesperson stated, "In assessing our global licensing needs, we determined that this application was unnecessary. The decision to withdraw the license application is unrelated to the settlement with the U.S. Department of Justice."He mentioned that Binance will announce the location of its global headquarters "at the appropriate time," but declined to provide further details. Additionally, Binance will continue to work with regulators to "provide world-class services and products in the Middle East and beyond."

ChainCatcher news, according to Bloomberg, cryptocurrency mining company Phoenix Group completed a $371 million IPO on the Abu Dhabi Securities Exchange (ADX) and rose 50% on the same day. This IPO attracted $12 billion in funds, with a 33 times oversubscription.In addition, it was reported that International Holding Co., the largest corporate group in Abu Dhabi controlled by important members of the UAE royal family, purchased 10% of Phoenix in early October.

ChainCatcher news, according to The Block, stablecoin issuer Paxos has received two principle approvals from the Financial Services Regulatory Authority of Abu Dhabi Global Market to issue stablecoins and provide cryptocurrency brokerage and custody services. The preliminary approvals are for two new entities of Paxos in the Abu Dhabi Global Market.A Paxos spokesperson revealed that full approval is expected to be obtained in the first half of next year.

ChainCatcher news, cryptocurrency custody and trading company Copper announced on Wednesday that it is working with the Abu Dhabi Global Market Financial Services Regulatory Authority (FSRA) to launch digital securities brokerage services in Abu Dhabi early next year.

ChainCatcher news, cryptocurrency mining company Phoenix Group has completed its IPO on the Abu Dhabi Securities Exchange, achieving 33 times oversubscription. The company issued 907,323,529 shares, with retail investors oversubscribing by 180 times and institutional investors by 22 times. The offering period will end on November 18, and the listing is scheduled for December 4, 2023, with the trading code PHX.

ChainCatcher news, the Abu Dhabi Global Market (ADGM) Registration Authority (RA) has officially released the "2023 Distributed Ledger Technology (DLT) Foundation Regulations," aimed at providing a comprehensive framework for DLT foundations and decentralized autonomous organizations (DAOs) to operate and issue tokens. This regulatory framework is intended to apply to blockchain foundations, Web3 entities, DAOs, and traditional foundations seeking to enhance operations through DLT.

ChainCatcher news, according to Ledger Insights, Laser Digital, a digital asset company under Nomura Holdings, has obtained a principle license from the Abu Dhabi Global Market (ADGM) and can obtain a license as a broker-dealer for cryptocurrencies and traditional assets, subject to meeting all conditions.According to previous news from ChainCatcher, in August 2023, Laser Digital obtained a cryptocurrency license in Dubai, allowing it to provide virtual asset brokerage and investment management services locally.

ChainCatcher news, according to Cointelegraph, the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) has granted a Financial Services Permission (FSP) to the virtual asset company M2, allowing it to operate a multilateral trading facility in the capital of the United Arab Emirates.Headquartered in Abu Dhabi, M2 stated in an announcement released on August 16 that the regulatory approval will allow institutional and retail clients in the UAE to "buy, sell, and custody virtual assets," such as Bitcoin (BTC) and Ethereum (ETH). The M2 platform is set to launch later in 2023. Once online, the M2 platform will also allow UAE users to purchase cryptocurrencies using fiat currency, as well as access derivatives and yield services.