Previous research by Chainalysis found that a significant portion of cryptocurrency transactions involving Garantex were linked to illicit activities or high-risk services between 2019 and 2021
digital wallet
Latest in digital wallet
banking services
Beyond ONE launches FRiENDi Pay in Saudi Arabia
With a significant expatriate population in Saudi Arabia, FRiENDi Pay aims to bring convenience, transparency, and peace of mind to its customers
Blockchain
‘Romance scams’ dupe victims out of $374mn in crypto losses this year
Crypto criminals used romantic tactics to steal approximately $1 billion since May 2021, Chainalysis says
Abu Dhabi Global Market
Digital custody and wallet infrastructure venture Liminal secures ADGM in-principle approval
The company said the approval marks an important milestone in its growth plans in the region
digital assets
Liminal to provide seamless regulatory compliance in digital asset industry across regions with Notabene
It will also offer customisable solutions, recognising the diverse nature of businesses operating in the cryptocurrency sector
Careem
Hala announces ‘Careem Pay’ digital wallet for captains
Over 17,000 captains are expected to have access by the end of July
Blockchain
Liminal and Notabene team up to offer secure and compliant crypto transactions
The collaboration allows Liminal and Notabene to provide an integrated solution for compliant crypto transactions
crypto business
Dubai, Singapore firms ink deal on payment gateway
Under the deal, Liminal will help Magik Labs to create a series of transit payment wallets to receive payments from their users
digital payments
Tweeq International gets Saudi Central Bank nod to offer e-wallet services in the country
This takes the total number of payment companies licensed by SAMA to 23
Abu Dhabi Global Market
FTX collapse, rising crypto frauds prompt digital wallet major Liminal to go for aggressive expansion in MENA
The Singapore-headquartered company has set its eyes on roping in banks, financial institutions and family offices for its ambitious growth
digital wallet
Facebook, Instagram users can now post NFTs linked to digital wallets: Meta
Posting nonfungible tokens will not cost a fee, and the feature will be available to users from 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas
binance
Crypto world braces for ‘furnace of fire’ as investors, regulators keep close watch
Bitcoin could take months to rally again, an analyst said
Alain Bejjani
Majid Al Futtaim and Binance to work on NFT and crypto payments with Binance Pay
The two entities announced a partnership to unlock Web3 capabilities for customers across MENA region
Careem
Revealed: You can now request and send money to any user in the UAE through the Careem Pay app
Money from the Careem Pay digital wallet can be withdrawn to any UAE bank account, and will soon be directly usable for goods and services beyond the Careem app
Bake N More
Café in Dubai accepts bitcoin, ethereum, and tether payments for breakfast, brewed coffee, and baked goods
The Bake N More café’s open-source payment platform is handled by the Mixin Network, which allows customers to pay for their purchases with six major cryptocurrencies
digital economy
First live African mobile wallet transaction executed in the UAE
Network International and TerraPay hail milestone deal as they seek to boost mobile wallet penetration in the UAE
Bitcoin
Crypto cracking out of shell: Regulation, education needed to speed up adoption
Currently it is estimated 3-4 percent of the population has interacted with digital currencies