News Roundup — UAE Sees Major Institutional Influx of Crypto Transactions

October 2, 2023

Major news stories this week;

  1. UAE sees major institutional influx: Chainalysis
  2. Crypto.com to become preferred exchange for PayPal USD
  3. Valkyrie wins nod to add Ethereum futures to ETF as SEC delays Bitcoin call
  4. Coinbase Receives Regulatory Approval to List Perpetual Futures Trading to Users Outside US
  5. Bahrain’s Bank ABC taps JP Morgan for blockchain-based cross-border payment service

Story Summaries;

  1. Blockchain data platform Chainalysis found that institutional investments (each exceeding $1 million in value) constituted more than 67% of cryptocurrency transactions in the federation of seven emirates between July 2022 and June 2023. Following these institutional transactions were transfers linked to professional investments, ranging from $10,000 to $1 million, and retail investments made up 4.63% of all transfers in the Emirates, according to a report published on Sept. 26. The high incidence of institutional investments indicates that a more diverse group of professional investors is actively engaging in the market, bolstering its overall expansion.
  2. Singapore-based exchange Crypto.com has partnered with PayPal and Paxos to become a preferred platform for PayPal USD. According to a press release from Sept. 28, Crypto.com currently possesses the deepest liquidity for PYUSD trading pairs globally. The exchange has listed PYUSD for retail and institutional users, with “trading features coming soon.” This move builds on PayPal and Crypto.com’s previous partnership, such as an option to use PayPal to top up the Crypto.com Visa Card.
  3. US investors now have access to Ether futures through an exchange traded fund. Asset manager Valkyrie was approved to add Ethereum futures to its existing Bitcoin ETF. The move comes as analysts predict pending Ether futures ETFs will be given the green light imminently. Valkyrie will begin to add Ether futures to its existing Bitcoin strategy ETF; the asset manager will allocate 10% of its fund to Ether initially, increasing this to 50%. The decision is expected to be quickly followed by approval of a host of Ether futures ETFs.
  4. Coinbase International Exchange has acquired regulatory approval from Bermuda's financial regulator to enable eligible non-US retail customers to trade perpetual futures, a company said in a blog on Thursday. Thanks in part to Bermuda Monetary Authority (BMA) the exchange plans to offer eligible customers access to perpetual futures contracts on Coinbase Advanced in the coming weeks. The company has been looking to expand globally and announced its international exchange in May this year and listed BTC and ETH perpetual futures contracts.
  5. Bahrain-based Bank ABC is launching a new blockchain-based cross-border payment service for its corporate and institutional clients in collaboration with JP Morgan and the Central Bank of Bahrain (CBB).The soft-launched service seeks to enable the bank’s clients to complete high-value transfers between Bahrain and the US through JP Morgan’s Coin Systems, which sits upon the JP Morgan Onyx blockchain system which was launched in 2020.

And that’s all for last week’s news! Wishing you a great week ahead!

Digital asset News, education and analysis

News Roundup — MakerDAO Founder Unveils Two New Stablecoins: NewStable and PureDAI
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
May 20, 2024
News Roundup — Tether Slams Deutsche Bank over Suggestion its Stablecoin Could Fail
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
May 14, 2024
News Roundup — Orange: A Bitcoin-Based Decentralized Identity Platform
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
May 6, 2024
News Roundup — After 6-year hiatus, Stripe to start taking crypto payments, starting with USDC stablecoin
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
April 29, 2024
News Roundup — Bitcoin Halving Officially Complete
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
April 22, 2024
News Roundup — Hong Kong approves spot Bitcoin ETFs
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
April 15, 2024
News Roundup — Ripple to launch US dollar stablecoin, aims to compete with USDT and USDC
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
April 8, 2024
News Roundup — SBF Is Going to Prison for 25 Years
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
April 1, 2024
News Roundup — SEC investigates Ethereum Foundation - Is ETH a Security?
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
March 25, 2024
News Roundup — Craig Wright Is Not Satoshi!
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
March 18, 2024
News Roundup — Nexo puts recent woes behind it with Middle East license approval
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
March 11, 2024
News Roundup — Bitcoin Tops $65K, Inches Closer to Lifetime Peak
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
March 4, 2024
News Roundup — Bitcoin ETFs Notch Best-Ever Week with $2.5bn Haul
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
February 26, 2024
News Roundup — MicroStrategy listing in the S&P 500 index could expose millions to Bitcoin
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
February 19, 2024
News Roundup - Ethereum Set for Boost as Dencun Upgrade Gets a Date
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.
February 12, 2024
News Roundup — UAE makes first cross-border payment using digital currency
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
February 5, 2024
News Roundup—FTX sold nearly $1 billion of Grayscale spot bitcoin ETF shares
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
January 29, 2024
News Roundup — Timeline set for Craig Wright trial on Satoshi Nakamoto identity claim
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
January 22, 2024
News Roundup — US SEC Approves Bitcoin ETFs in Watershed Moment for Industry
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
January 15, 2024
News Roundup — BlackRock names JPMorgan as authorized participants for its proposed bitcoin ETF
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
January 8, 2024
News Roundup — MicroStrategy bags 14,620 Bitcoin ahead of Potential ETF Approval
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
January 2, 2024
News Roundup — ‘In Argentina, contracts can be settled in Bitcoin’ — foreign minister
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
December 26, 2023
News Roundup — Gensler says SEC is taking ‘new look’ at spot bitcoin ETF proposals
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
December 18, 2023
News Roundup — Talks between SEC and Bitcoin ETF issuers in 'Advanced' Stages
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
December 11, 2023
News Roundup — MicroStrategy Piles on Bitcoin, Acquiring 0.90% of Circulating Supply
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
December 4, 2023
News Roundup — Javier Milei Is Now President In Argentina With A Pro-Bitcoin Agenda
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
November 27, 2023
News Roundup — Dubai’s chief crypto regulator exits as VARA prepares to fine major companies
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
November 20, 2023
News Roundup — UAE Cracks Down on Unlicensed Crypto Firms
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
November 13, 2023
News Roundup — 'Crypto King' Sam Bankman-Fried faces decades in jail after guilty verdict
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
November 6, 2023
News Roundup — BlackRock Preps for Bitcoin ETF Launch
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
October 30, 2023
News Roundup — Middle East Regulatory Clarity Drives Crypto Industry Growth
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
October 23, 2023
News Roundup — Bitcoin Lightning Network Growth Surges by 1,200% in 2 Years
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
October 16, 2023
News Roundup — Binance hit with class-action lawsuit over alleged market manipulation
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
October 9, 2023
News Roundup — UAE Sees Major Institutional Influx of Crypto Transactions
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
October 2, 2023
News Roundup — Binance.US Trading Volume Tumbles While SEC Dispute Heats Up
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
September 25, 2023
News Roundup — Bitcoin Miner Returns the $510,000 Overpaid Transaction Fee
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
September 18, 2023
News Roundup — ‘A Huge Deal’ - Visa Reveals Crypto Payments Bombshell That Could Cause Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Solana, Tron And Toncoin Price Chaos
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
September 11, 2023
News Roundup — All cryptocurrency businesses in Dubai come 'VARA-certified'
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
September 4, 2023
News Roundup — Craig Wright May Be Admitting That He Stole 80,000 Bitcoin
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
August 28, 2023
News Roundup — Europe's First Spot Bitcoin ETF Lists in Amsterdam
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
August 21, 2023
News Roundup — Sam Bankman-Fried Is Going to Jail
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
August 14, 2023
News Roundup — Bitcoin Is Not Crypto, The SEC Confirms
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
August 7, 2023
News Roundup — Crypto bills pass congressional committee in ‘huge win’ for US crypto
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
July 31, 2023
News Roundup — RFK Jr. Announces Bold Plan to Back Dollar With Bitcoin, End Bitcoin Taxes
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
July 24, 2023
News Roundup — Judge rules XRP is not a security in SEC's case against Ripple
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
July 17, 2023
News Roundup — BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
July 10, 2023
News Roundup — SEC Inaction on Spot Bitcoin ETF a 'Complete and Utter Disaster'
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
July 3, 2023
News Roundup — Binance Officially Exits UK After The Netherlands And Cyprus
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
June 26, 2023
News Roundup — BlackRock files for spot bitcoin ETF, with Coinbase as a crypto custodian
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
June 19, 2023
News Roundup — SEC Sues Crypto Exchange Binance and CEO Changpeng Zhao
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
June 15, 2023
News Roundup — Tether’s Market Cap Reaches New High, Exceeding $83.2B
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
June 6, 2023
News Roundup — 700M Users Of Telegram Can Now Buy, Receive, Withdraw and Trade Bitcoin P2P
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
May 23, 2023
News Roundup — Smart Contracts Have Arrived on the Bitcoin Blockchain
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
May 15, 2023
Bitcoin on the Books
Why has Institutional Investment in Bitcoin Skyrocketed in 2020?
May 4, 2023
The Merge is (Almost) Here
The long awaited ETH merger is finally drawing closer, with only a few days left until the expected date of 15th September 2022.
May 4, 2023
El Salvador’s Bitcoin Moment
With history in the making as El Salvador makes Bitcoin legal tender on September 7th, 2021, we examine the implications for the country’s financial system, its people, and the global remittance industry.
May 4, 2023
Global Workforces need a truly Global Currency
Running a multinational business? It’s time to pay your employees in Virtual Assets!
May 4, 2023
The Fall of TerraUSD, The not so Stable Stablecoin
A retrospective look at the spectacular TerraUSD/LUNA collapse and the possible reasons behind their incredible fall from grace.
May 4, 2023
Bitcoin’s Latest Upgrade — Taproot
Everything about you wanted to know about the Taproot upgrade, but were too afraid to ask!
May 4, 2023
The Other Bitcoins — A Closer Look at Bitcoin’s Hardforks
For any newcomer to Digital Assets, discovering there are other ‘types’ of Bitcoin can be confusing.
May 4, 2023
The Island of Yap & Blockchain
A look at the fascinating Island of Yap and Rai stones in what is thought to be the worlds very first use of a distributed ledger.
May 4, 2023
The Short, but Explosive History of Bitcoin
The plot line reads like a prize winning novel — an anonymous creator, economic catastrophe, FBI investigations, and… pizza!?
May 4, 2023
Bitcoin and the Rules of Consensus
Is it really possible to reach an agreement between people we’ve never met before? Using the Nakamoto Consensus it is…
May 4, 2023
Grow your business.
Today is the day to build the business of your dreams. Share your mission with the world — and blow your customers away.
Start Now