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Pictures are for illustrative purposes only.
Sajjad Ahmed, Deputy Business Editor
The Financial Technology (FinTech) sector in the UAE is one of the fastest growing in the region due to the UAE leadership and its drive to encourage and grow the sector, revealed during Abu Dhabi Finance Week.
Mohamed Al Hashemi, co-founder of digital asset trading platform MidChains Limited, said: “The UAE already has a strong regulatory framework in place to attract new capital and also has a series of accelerator programs in place to improve access to global and local talent pools of expertise. .” Headquartered in Abu Dhabi.
Hashemi said, “As a native Abu Dhabi company, participation in ADFW was a natural and imperative for us to show our support. It was an honor and a privilege to be part of the inaugural ADFW and to see so many people from all over the world come to “Our home in Abu Dhabi, I’m excited that we’ve got great exposure. We’ve also had the opportunity to use the platform to announce our exciting partnership with Al Maryah Community Bank, which will enable the bank’s customers to Ability to have a secure and regulated channel to trade and store virtual assets.
He said: “We are an exchange and custody platform still in the early stages of development and growth; we open our services to retail, professional and institutional clients globally, but are currently focused on major institutional partnerships such as our recently announced Partnerships with Visa, Network International, Al Maryah Community Bank, and many others in the pipeline. We expect to launch our retail-focused transaction application in Q1 2023, accelerating growth of our retail user base in 2023 Rapid growth.”
He added, “Transparency and regulation are some of our core values. Our products provide the security and service that institutional and retail investors look for when entering the crypto space, given our fully regulated structure across trading and custody platforms , strong controls and governance, all of our clients’ assets are held in escrow accounts under the oversight of our regulators.”
He praised the recently formed Middle East, Africa and Asia Cryptocurrency and Blockchain Association, “Creating a regional industry body is a timely development that can help ecosystem players come together and lobby for what the industry desperately needs to rebuild its reputation , that is, greater transparency and better regulation.”
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