PYMNTS-MonitorEdge-May-2024

UAE

Mastercard and UAE Government Team to Promote AI Adoption
Mastercard and UAE Government Team to Promote AI Adoption
August 24, 2023  |  Partnerships

Mastercard and the United Arab Emirates have teamed to fuel artificial intelligence (AI) adoption in that country. The collaboration comes as Mastercard opened its newest Center for...

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Mastercard and Qashio Team to Promote Cashless Spend Management
Mastercard and Qashio Team to Promote Cashless Spend Management
August 21, 2023  |  Partnerships

Mastercard has launched a credit card partnership with Dubai-based FinTech Qashio. The collaboration will help Qashio introduce corporate credit cards and enable them with virtual issuance capabilities, according...

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Emirates Development Bank and Trade Capital Partners Collaborate on Supply Chain Financing
Emirates Development Bank and Trade Capital Partners Collaborate on Supply Chain Financing
August 17, 2023  |  Partnerships

Emirates Development Bank (EDB) has partnered with Trade Capital Partners (TCP) to offer supply chain finance and working capital solutions to small- to medium-sized businesses...

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Open Exchange Fined $2.7 Million for UAE Crypto Violations
Open Exchange Fined $2.7 Million for UAE Crypto Violations
August 16, 2023  |  Cryptocurrency

Dubai has fined cryptocurrency firm Open Exchange nearly $3 million for violating its digital asset rules. The country’s Virtual Assets Regulatory Authority (VARA) said in a regulatory notice Tuesday (Aug....

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Moove Raises $76 Million to Provide Financial Services for Mobile Gig Workers
Moove Raises $76 Million to Provide Financial Services for Mobile Gig Workers
August 10, 2023  |  Gig Economy

Moove has secured $76 million in new funding to expand its financial services platform for mobility gig workers. The new funding consists of $28 million in...

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Dapi and Mastercard Partner to Provide A2A Payments in UAE
Dapi and Mastercard Partner to Provide A2A Payments in UAE
June 01, 2023  |  Faster Payments

Dapi and Mastercard have partnered to provide account-to-account (A2A) payments in the United Arab Emirates (UAE). With this strategic partnership, Dapi, a UAE-based FinTech company, will launch...

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Money Transfer Firm Instant Cash Receives License From UAE Central Bank
Money Transfer Firm Instant Cash Receives License From UAE Central Bank
May 25, 2023  |  Mobile Payments

Instant Cash has received a license from the Central Bank of the United Arab Emirates (CBUAE). With this Retail Payment Services and Card Scheme Regulation...

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UAE Official: AI Needs Same Level of Oversight as Uranium
UAE Official: AI Needs Same Level of Oversight as Uranium
May 19, 2023  |  artificial intelligence

A UAE official said artificial intelligence (AI) needs the same level of oversight as weapons-grade uranium. UAE Minister of State for Artificial Intelligence, Digital Economy...

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Coinbase Looks to UAE as Global Crypto Hub
Coinbase Looks to UAE as Global Crypto Hub
May 08, 2023  |  Cryptocurrency

Facing regulatory pressure in the USA, Coinbase is reportedly setting its sights on the UAE. Brian Armstrong, CEO of the cryptocurrency exchange, told Bloomberg TV in an interview Monday...

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