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How the Middle East is pioneering the next Chapter of the blockchain revolution

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By Khurram Shroff, CEO, iMining Technologies

Global finance is undergoing a transformation as profound as it is inevitable, and Bitcoin’s recent rise to $106,000 has become more than a financial milestone. It symbolizes a seismic shift in how value is perceived, stored, and transacted. In this new paradigm, the Middle East – long a hub of trade and innovation – is emerging as a pivotal force, turning Bitcoin’s potential into action.

“The Middle East’s historical role as a crossroads for commerce and culture gives it a unique vantage point in embracing Bitcoin’s transformative potential,” says Khurram Shroff, CEO of iMining Technologies and one of the world’s earliest advocates of Bitcoin innovation. “Our region is leveraging its strategic strengths to lead this new economic chapter.”

The foundation of Bitcoin’s new role

Bitcoin’s evolution over the past decade has been nothing short of extraordinary. Originally dismissed as a speculative tool for the tech-savvy elite, it has matured into a legitimate store of value and a hedge against economic instability. Recent geopolitical shifts have further amplified its role. For instance, the incoming Trump administration in the United States has signalled a more cryptocurrency-friendly stance, with President-elect Trump considering a national Bitcoin reserve akin to the strategic oil reserve.

“Bitcoin’s ascent is redefining how nations approach monetary policy,” observes Shroff. “This isn’t just about speculative digital assets anymore, it’s about redefining trust and sovereignty in the global financial landscape.”

Unlike any other asset, Bitcoin’s decentralized nature makes it uniquely positioned to thrive in diverse economic contexts. The Middle East, however, holds a distinctive advantage – its strategic role as a global trade hub and its openness to leveraging cutting-edge technology. Shroff notes, “The Middle East has a real opportunity to shape how Bitcoin will redefine financial ecosystems globally.”

Institutional and corporate adoption

One of the most transformative aspects of Bitcoin’s journey is its growing adoption by institutional players. In the Middle East, regulatory foresight has created fertile ground for corporations and governments to explore digital assets. Giants like Tesla and MicroStrategy may have led the way globally, but GCC institutions are now carving their niche.

“The UAE’s Virtual Asset Regulatory Authority (VARA) and initiatives within the DIFC sandbox have laid a strong foundation,” Shroff notes. “This clarity has emboldened businesses to integrate Bitcoin into their portfolios. It’s increasingly being treated as a strategic asset.”

What sets the Middle East apart is its collaborative approach. Policymakers, financial institutions, and technology innovators are working in concert to integrate Bitcoin into economic frameworks. Beyond diversification, this ecosystem aims to create a sustainable model for blockchain integration. There has been an increasing emergence of a broader vision: to transform the Middle East into a global hub for blockchain-driven economic innovation.

Bitcoin as a global settlement layer

Cross-border trade has historically relied on systems like SWIFT, which often require intermediaries to process transactions, leading to delays, high fees, and a lack of transparency. International money transfers using SWIFT can take several days to settle and incur substantial costs due to correspondent banking fees. These limitations have created opportunities for alternatives like Bitcoin, which offers near-instant settlement and lower transaction costs while removing the need for intermediaries.

“The real revolution lies in Bitcoin’s ability to act as a settlement layer,” Shroff explains. “Imagine treaties negotiated in Bitcoin or cross-border transactions settled instantly without intermediaries. This is where the Middle East’s geographic and technological advantages converge. The potential for this has always been there and we’re now seeing it played out more regularly.”

The GCC’s early adoption of blockchain in logistics and trade has positioned the region as a forward-thinking hub for technological innovation. What truly sets this effort apart is the nuanced focus on practical outcomes, such as improving the transparency and efficiency of supply chains.

Sustainable mining: The GCC’s green edge

Bitcoin mining has long been a flashpoint in debates  around environmental sustainability. Yet, the Middle East – home to some of the world’s most ambitious renewable energy projects – is flipping the script. Initiatives like Saudi Arabia’s NEOM and the UAE’s Masdar City are proving that Bitcoin mining can align with ecological priorities.

“Green energy isn’t just a checkbox; it’s the future,” Shroff asserts. “With solar farms powering mining operations, the GCC is turning environmental critiques into competitive advantages.”

Projects such as “Green Blocks” are pioneering models where excess renewable energy is channelled into Bitcoin mining. The shift toward renewable mining has attracted global attention. Partnerships between GCC entities and international tech firms have facilitated the development of blockchain data centers powered entirely by clean energy. For instance, HODLER Investments, based in the UAE, has partnered with Abu Dhabi’s EHC Investment to launch NEXGEN Energy Infrastructure. This venture aims to monetize wasted energy, such as flared gas, to power AI and blockchain data center infrastructure, contributing to the UAE’s Net Zero 2050 and Digital Economy Strategy.

The Lightning Network and financial inclusion

Bitcoin’s Layer 2 technologies, such as the Lightning Network, are making transactions faster and cheaper. These advancements are particularly impactful in regions with limited access to traditional banking. For the Middle East, the implications are profound.

“The Lightning Network is financial empowerment in the truest sense,” says Shroff. “For millions of migrant workers sending remittances home, this means more money in their families’ hands, not lost to fees.”

In Lebanon, a country wrestling with financial collapse, Bitcoin has emerged not just as a lifeline but as a symbol of resilience. Apps leveraging Bitcoin’s capabilities have stepped in where traditional banking has faltered, enabling people to transfer value in a system no longer reliant on failing infrastructure. Beyond remittances, blockchain-backed identity systems are rewriting the rules of access for refugees and stateless individuals across the region. These tools, seamlessly integrated with Bitcoin wallets, provide secure, verifiable avenues to basic financial services.

Hyperbitcoinization: A decentralized future

The concept of hyperbitcoinization – where Bitcoin becomes the default global monetary system – is no longer confined to theoretical discussions. From El Salvador’s bold adoption to Africa’s growing use cases, the movement is gaining traction. In the Middle East, the cultural and economic context offers fertile ground for this transition.

“Hyperbitcoinization is about decentralization and resilience,” Shroff reflects. “In a region where autonomy and community are deeply valued, Bitcoin represents a natural evolution in how we approach money and governance.”

Experts anticipate pilot programs for Bitcoin-backed currencies within GCC states by 2025, setting the stage for broader regional adoption. These initiatives could redefine how value is exchanged and stored in the Middle East. The integration of Bitcoin into public services – such as utility payments and government transactions – is also expected to accelerate hyperbitcoinization efforts.

Challenges and opportunities

No revolution comes without hurdles. Bitcoin’s volatility, regulatory fragmentation, and the need for education remain significant challenges. Yet, the Middle East’s proactive policies and cultural adaptability provide a robust framework for overcoming these obstacles.

“The dialogue between regulators, innovators, and educators is critical,” Shroff emphasizes. “Only through collaboration can we ensure that Bitcoin’s integration is both effective and equitable.”

To address volatility, GCC institutions are exploring  stablecoins pegged to Bitcoin, combining blockchain’s benefits with price stability. Such innovations could serve as bridges for risk-averse stakeholders. In this timeline, 2025 could be a crucial year.

Bitcoin and the new year

The emergence of Bitcoin-backed monetary experiments could redefine how countries approach financial independence. GCC nations, for example, are exploring scenarios where Bitcoin serves as an economic stabilizer in times of fiat currency volatility. Unlike gold, which has been a traditional reserve asset, Bitcoin’s liquidity and programmable nature allow it to serve dual roles – both as a reserve and as a transaction-enabling tool.

Shroff envisions Bitcoin playing a pivotal role in safeguarding national economies against external shocks. “We’re already seeing a shift where Bitcoin is not just a hedge but a proactive tool for economic strategy,” he says. “It’s the modern equivalent of a trade currency, but with the adaptability and speed that our interconnected world demands.”

Shroff emphasizes the transformative potential of such moves: “In 2025, we will decisively move towards a world where financial access isn’t a privilege but a right, and Bitcoin is central to that evolution.”

Beyond its immediate economic applications, Bitcoin’s decentralized governance model is inspiring a cultural shift in how societies view power and trust. For the Middle East, where community-driven solutions are deeply valued, this presents an opportunity to align technology with traditional social frameworks. “Bitcoin is as much a cultural revolution as it is a financial one,” Shroff observes. “It challenges us to rethink the systems we’ve relied on and offers the tools to build something more equitable and sustainable.”

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Emerging Trends Shaping Financial Empowerment and Inclusion in the UAE Workforce

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Emerging Trends Shaping Financial Empowerment and Inclusion in the UAE Workforce

By Claudio Di Zanni, Managing Director, Edenred Middle East

A portrait of Claudio Di Zanni, Managing Director, Edenred Middle East
Claudio Di Zanni, Managing Director, Edenred Middle East

One of the most critical issues faced by low-income employees across the UAE and the broader Gulf region is achieving true financial empowerment. In the UAE, over 60% of the workforce comprises low-income migrant workers earning less than AED 5,000 per month. These employees are the backbone of the nation’s key industries, yet many still struggle to access the benefits of a fully digital financial ecosystem.

While the UAE’s Wage Protection System (WPS) was introduced to safeguard workers’ rights—ensuring salaries are paid accurately, on time, and through traceable digital channels—the banking system’s minimum salary requirement prevents a large portion of the workforce from opening traditional accounts. This creates a structural gap that payroll solutions are designed to fill, enabling compliant salary payments and basic access to digital finance.

As the Middle East accelerates its digital transformation and workforce reforms, how workers are paid and supported financially has become as important as how they contribute to growth. This shift has put a renewed spotlight on the systems managing their wages and day-to-day financial needs. For low-income employees, these systems determine not just how they are paid, but how securely they live—affecting access to savings, remittances, and their ability to handle emergencies.

When Digital Pay Isn’t Enough

The introduction of the Wage Protection System marked a turning point in the UAE’s journey toward fair and transparent wage practices. Today, nearly all employees are paid through digital channels, ensuring salaries are disbursed accurately and on time. Yet despite these advances, a significant percentage of wages are still withdrawn in cash each month, showing that digital pay does not automatically translate into digital financial inclusion.

For many employees, limited digital literacy, mistrust of financial systems, and unfamiliarity with digital tools prevent them from engaging fully with the digital economy. As a result, the very system designed to protect and empower workers can feel more like a compliance obligation than an opportunity for empowerment.

This is where payroll providers play a critical role. Too often, the industry stops at compliance—ensuring wages are delivered digitally—without addressing the human factors that determine whether employees can truly benefit from financial technology. Empowerment comes not from the transfer itself, but from helping workers understand, trust, and use digital money confidently. Only then can payroll innovation translate into lasting financial well-being and equal access to economic opportunity across the UAE.

Digital salary management platforms have already transformed how employees receive and manage their earnings. Mobile apps and prepaid cards now give workers immediate access to their wages, allowing them to make purchases, send remittances, and track expenses in real time. Many solutions integrate seamlessly with the WPS, enabling even unbanked employees to participate in the digital economy for the first time. A recent study found that organizations implementing mobile-accessible payroll solutions report up to 25 percent higher employee satisfaction, underscoring the clear business value of digital inclusion.

Empowering Through Education

Financial literacy programs are equally critical in helping employees make informed decisions about saving, budgeting, credit, and long-term planning. In the UAE, less than 31 percent of the population demonstrates basic financial literacy, highlighting a major opportunity to empower workers through education.

From workshops to mobile-based learning tools, such programs can equip employees with the practical skills to use digital salary systems effectively, avoid debt traps, and build savings or plan remittances. Employers that distribute salary cards directly at worker accommodations and provide multilingual support during onboarding see much higher adoption rates, as these field-level activations build trust and make digital tools easier to use.

Employers who take financial education seriously often see a clear business impact. Companies that invest in onboarding sessions and field engagement consistently report higher digital adoption rates. These activations not only build trust but also transform digital payroll from a compliance task into a tangible employee benefit.

When workers understand and trust digital tools, they gain control over their finances—and that stability shows at work. Financial stress is one of the most common challenges among low-income employees, limiting their ability to manage urgent expenses and affecting productivity, retention, and overall well-being. In sectors such as construction, this stress can even impact concentration and safety, as employees distracted by financial worries are less able to perform at their best.

Partnerships between employers and fintechs like Edenred are expanding this approach, combining digital wage tools with financial education programs that improve confidence, satisfaction, and long-term well-being.

The Next Phase of Financial Empowerment

Employers remain central to driving inclusion. By choosing payroll partners that provide multilingual support, education, and easy mobile access, companies can reduce disputes, strengthen retention, and improve overall workforce stability.

A growing number of organizations are now exploring earned wage access programs, which allow employees to access a portion of their earned income before payday. Surveys show that most low-income workers value this flexibility to cover urgent expenses, medical bills, or family emergencies—without resorting to high-interest loans or informal borrowing. When paired with education and budgeting tools, earned wage access can provide not just relief in emergencies but also encourage more responsible money management.

This flexibility can increase employees’ sense of financial security, yet it should complement—not replace—broader financial literacy and planning initiatives. The most successful models combine accessible financial products, user education, and ongoing engagement, ensuring workers have both the tools and the confidence to manage their finances effectively.

As technology evolves, artificial intelligence and data analytics will make financial support more personalized and accessible. Predictive models can help employers identify employees under financial strain, while new digital products can guide users toward healthier financial behaviors. But technology alone will not close the gap.

Real progress will depend on collaboration between fintechs, employers, and regulators to build an ecosystem that blends technology, education, and empathy. Businesses increasingly recognize that supporting workers in their financial journeys fosters a more engaged and loyal workforce, directly impacting productivity and retention. Selecting payroll partners that combine compliance with education, multilingual support, and mobile accessibility helps companies reduce payroll disputes and improve satisfaction.

The trajectory of financial empowerment for low-income employees in the UAE is promising. The next stage will depend on how effectively stakeholders align innovation with understanding—ensuring every salary payment becomes an opportunity for inclusion and growth. When that happens, financial empowerment will move from aspiration to reality.

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MultiBank Group and Khabib Nurmagomedov Launch an Exclusive Worldwide Multi-Billion-Dollar Joint Venture to Build the World’s First Regulated Tokenized Sports Ecosystem

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Multibank Group, the financial derivatives institution, has entered into an exclusive worldwide multi-billion-dollar joint venture with global sports icon and undefeated UFC champion Khabib Nurmagomedov (29-0) to create a first-of-its-kind regulated ecosystem connecting global finance, sports and technology.

The partnership will culminate in the creation of a multi-billion-dollar joint venture, MultiBank Khabib LLC, uniting two global powerhouses: MultiBank Group, a leader in regulated financial excellence, and Khabib Nurmagomedov, undefeated in the octagon and whose influence extends far beyond sport. The company will operate from MultiBank Group’s headquarters in Dubai, building a worldwide network of high-end sports ventures and real-world digital assets. This structure fulfills the vision of MultiBank Group Founder and Chairman, Naser Taher, for an exclusive global joint venture, granting MultiBank exclusive rights to develop and promote projects under the Khabib Nurmagomedov brand name, including the development of 30 state of the art Khabib gyms, Gameplan and Eagle FC brands.

The entire venture is backed by MultiBank Group’s regulated digital ecosystem and powered by its cornerstone $MBG Token being the driving force behind its expanding portfolio of real-world-asset (RWA) technologies and initiatives.

 Naser Taher, Founder and Chairman of MultiBank Group, stated: “From the UAE, we are shaping a new blueprint for the business of sport through the regulated tokenization of real-world sports assets (RWSA). Together with Khabib Nurmagomedov, and powered by our ecosystem token, $MBG, we are uniting finance and athletics into a single transparent, technology-driven ecosystem — one built on trust, innovation, and the strength of the MultiBank framework. This initiative proudly aligns with the UAE’s vision of becoming a global hub for digital asset innovation and world-class sports.

Khabib Nurmagomedov added: “This partnership with MultiBank Group is built on shared values of strength, respect, and discipline. Together with Multibank, we are building real global opportunities that go beyond sport, empowering athletes, and fans through a regulated and innovative digital ecosystem. This is only the beginning.”

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Edenred UAE strengthens market leadership with financially inclusive payroll solutions, C3Pay serving 2.5 million users

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Edenred, a leading digital platform for services and specific purpose payments and the undisputed market leader in salary processing and financial inclusion for the underbanked in the UAE, continues to reinforce its leading position in payroll card solutions, value-added financial services, and compliance-first innovation under the leadership of newly appointed Managing Director Claudio Di Zanni.

As the first company authorised by the Central Bank of the UAE to process WPS salaries, Edenred UAE has long positioned financial inclusion as the foundation of its offer in UAE — ensuring that access to financial services isn’t an added benefit, but a guaranteed outcome of getting paid. 

Trusted by both large enterprises and a growing base of SMEs, the backbone of the UAE economy, Edenred UAE now serves more than 15,000 corporate clients, 2.5 million cardholders, and partners with over 10 banks and 20 financial institutions. Demand has been strong in sectors such as manufacturing, construction, and facility management—where reliability and seamless execution are critical.

Edenred UAE salary cards, C3Pay, powered by RAKBANK and part of the Mastercard network, can be used globally. A key driver of Edenred’s adoption success is its unmatched expertise in on-site training at worker accommodations, which helps large enterprises efficiently onboard thousands of employees. This ensures that workers understand how to activate their cards, utilise app features, and engage with key financial tools.

Claudio Di Zanni, Managing Director, Edenred Middle East, said: “Edenred UAE has set the benchmark for payroll and financial access in the region with digital innovative solutions, great ambitions and internationally committed teams. Our ambition now is to extend that lead by deepening trust with our clients, scaling services that matter to end users, and ensuring full compliance in a fast-evolving regulatory landscape. With unmatched reach, an expanding client base, and a proven model for financial inclusion, we are ready to shape the next phase of the region’s salary card ecosystem — developing its full potential and contributing to giving workers who were previously excluded from the financial system a secure, transparent, and dignified way to manage their money.

Edenred UAE remains the reference in payroll solutions, as it continues to scale high-impact services, deepen banking partnerships, and reinforce its role as the benchmark for secure, compliant, and ethical financial access in the UAE and beyond. With a sharpened focus on innovation and strengthened leadership, it is entering a new chapter of platform excellence as the backbone of financial access for the UAE’s workforce.

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