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

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.”
Financial
CFI Caps Off Record-Breaking 2024 with Unprecedented Q4 Performance, Surpassing $1.12 Trillion In Trading Volume

CFI Financial Group has concluded 2024 with record-breaking achievements, reinforcing its status as one of the fastest-growing online trading providers worldwide. With an all-time high in trading volumes, exponential growth in active clients and significant global expansion, CFI has set new industry benchmarks, solidifying its position as a dominant force in online trading.
Q4 2024: A Historic Finish to a Landmark Year
- Unprecedented Trading Volume: In Q4 2024, CFI shattered previous records, surpassing $1.12 trillion in trading volume, exceeding Q3’s $1.03 trillion. This milestone brings H2 2024’s total to a staggering $2.15 trillion, reflecting a 142% year-over-year increase from H2 2023.
- Surging Client Activity: Q4 saw a 27% increase from Q3 in active clients. New clients continued their rapid ascent, reinforcing CFI’s commitment to providing accessible and efficient trading solutions.
- Soaring Client Deposits & Transactions: Q4 saw a 39% increase in client funding, following a 31% jump in Q3, reflecting growing confidence in CFI’s offerings.
Strategic Expansion & Leadership Reinforcement in Q4
CFI’s relentless pursuit of global growth and leadership reinforcement was evident in Q4 with key expansions and executive appointments, including:
- Launch of CFI Financial Investment Company in Azerbaijan, marking the firm’s first licensed local presence in the region, with Ilgar Rustambayli appointed as CEO.
- Commencement of operations in South Africa, furthering CFI’s reach across continents, with Zihaad Israfil named CEO.
- Opening of CFI’s third UAE office in Sharjah following its second one in Abu Dhabi, strengthening the company’s regional presence and accessibility.
- Introduction of the CFI Rewards Program, offering exclusive incentives such as VIP experiences at global sporting events and unique client engagement opportunities.
- Appointment of Ahmad Khatib as Chief Business Development Officer and Ziad Melhem as Chief Marketing Officer, further strengthening CFI’s leadership team and positioning the company for continued strategic growth.
Industry-Leading Partnerships & Brand Expansion
- Official Online Trading Partner of MI Cape Town, connecting with cricket’s massive 2.5 billion-strong global audience.
- Exclusive “CFI Driven by Success” Celebration at Dubai’s Museum of the Future, featuring Global Brand Ambassador and seven-time Formula 1 World Champion Lewis Hamilton.
- Launch of the “Trading Transparency+” Program, an initiative dedicated to market education, trading realities and risk awareness, reinforcing CFI’s commitment to responsible trading.
2024: A Year of Unparalleled Success & Growth
- Total annual trading volume exceeding previous records, cementing CFI as an industry leader.
- A 120% year-over-year increase in new clients, reflecting traders and investors solid demand for the company’s services.
- Expansion into new markets, solidifying CFI’s international footprint and reputation as a top-tier financial institution.
- Technological advancements, including AI-driven trading tools and seamless platform integrations, enhancing the overall trading experience.
- New Global Brand Ambassador Lewis Hamilton, Seven-Time Formula 1 World Champion, aligning with the group’s unwavering pursuit of excellence, innovation and advocacy for diversity and inclusion.
- Strategic Regional Partnerships with the Department of Culture and Tourism – Abu Dhabi, including extended collaborations with NBA Abu Dhabi Games and UFC 308, as well as partnerships with FIBA WASL, the Khaleeji Zain 2024 GCC Cup and many more.
Looking Ahead to 2025
Building on this extraordinary year, CFI remains committed to sustained growth, technological innovation and expanding its reach in key markets. With new initiatives in the pipeline, CFI is poised to redefine excellence in the online trading industry in 2025 and beyond.
Financial
SemanticPay: Pioneering Seamless AI Transactions for the Agent Economy

A cutting-edge AI startup emerges from stealth, announcing the launch of SemanticPay, a groundbreaking solution designed to power the emerging AI agent economy. SemanticPay is set to become the essential infrastructure that enables AI-powered agents to seamlessly transact and create value in the digital world. Developed by a team of AI, FinTech, and Web3 experts, SemanticPay will establish the monetization layer necessary to support autonomous AI agents, positioning itself as the first mover in this transformative space.
The rapid evolution of AI, decreasing compute costs and breakthroughs in AI models like DeepSeek R-1 are democratizing access to powerful AI leading to the proliferation of autonomous “AI agents” – intelligent systems capable of executing complex tasks, optimizing workflows, and unlocking new revenue streams. However, the current internet infrastructure, designed for human interactions, presents significant challenges for AI agents to transact seamlessly. “The internet was built by humans for humans, not agents,” says one of the co-founders of SemanticPay. Challenges arise such as compatibility issues with human-centric systems, regulatory uncertainty that slows adoption rate, restrictive firewalls that misidentify agents as bots, and outdated monetization models not suited for microtransactions.
This is where SemanticPay steps in – building the “Visa for AI” – a comprehensive platform that addresses these challenges and empowers AI agents to become full participants in the digital economy. SemanticPay builds a robust transaction infrastructure that allows AI agents to securely interact, access services, and engage in economic activity. By developing a specialized infrastructure, they will eliminate these constraints and unlock new opportunities for an AI-powered economy.
Key Features of SemanticPay Include:
- Access: SemanticPay’s Agentic API layer ensures that AI agents can access web services and data sources seamlessly, unlocking new opportunities for interaction and information retrieval.
- Identity: Traditional internet structures often categorize AI agents as bots, blocking their ability to perform legitimate tasks. Through Agent ID and “Know Your Agent” (KYA) protocols, SemanticPay establishes a secure, compliant framework for transactions, building trust and ensuring regulatory adherence.
- Payment: The platform will offer optimized payment rails, supporting fiat currencies, stablecoins, and cryptocurrencies for high-frequency, low-value transactions crucial to the AI agent economy.
- Empowerment: Value-added services such as data analytics, decision-making tools, and access to specialized AI models will enhance the capabilities of AI agents, driving efficiency and growth.
Rooted in the GCC, SemanticPay aims to scale globally, with its team currently having a presence in APAC and Europe. They are building the foundation for a new AI-powered economy that bridges the gap between web operators and AI agent builders – paving the way for a future where these intelligent agents play a vital role in our digital world, driving innovation and creating value for all stakeholders.
Financial
Hasnae Taleb and Jeff Ransdell to Drive Innovation in UAE with a $45 Million to Support UAE Startups

Jeff Ransdell, Managing Director and Founding Partner of Fuel Venture Capital, and Hasnae Taleb, Managing Partner of Mintiply Capital, are making waves in the UAE investment landscape by introducing a $300 million vintage fund. This ambitious initiative dedicates $45 million specifically to fuel the growth of startups within the GCC region. The fund is strategically structured to offer regional investors a rare opportunity to capture exponential returns by backing high-growth ventures before they reach public markets.
The collaboration between Mintiply Capital and Fuel Venture Capital takes the form of a Special Purpose Vehicle (SPV), leveraging both firms’ unmatched expertise in capital markets and venture investments. With decades of collective experience, Ransdell and Taleb are uniquely positioned to guide companies through the critical phases of growth, scaling, and eventual public listings. Their shared vision is built on the understanding that private market investments in pre-IPO companies have the potential to generate immediate returns of up to 200% from day one, presenting a transformative proposition for investors across the UAE and broader GCC region.
The vintage fund provides access to an elite portfolio of high-potential startups backed by Fuel Venture Capital. Notable names include:
• Betr – A disruptive sports betting platform co-founded by Jake Paul, integrating real-time engagement with microbetting.
• Curve – A fintech innovator providing a single card that aggregates all financial accounts into one seamless experience.
• CookUnity – A chef-to-consumer platform redefining meal delivery with curated, gourmet-quality meals.
• Novopayment – A fintech infrastructure company driving digital payments innovation across the Americas.
• Aexlab – A pioneer in virtual reality gaming and social engagement technologies.
These companies are not just building market-leading products; they are poised to reshape industries and create outsized investment returns when they enter the public markets.
Jeff Ransdell and Hasnae Taleb believe in creating pathways for local investors to participate in the most promising global opportunities. This vintage fund provides GCC-based investors exclusive pre-market access to disruptive businesses that would otherwise remain out of reach until a much later stage.

Jeff Ransdell, founder of Fuel Venture Capital, brings a remarkable career spanning decades in public markets. As a former Managing Director at Merrill Lynch, he led a team responsible for managing a staggering $130 billion in assets for some of the world’s most influential investors. His deep understanding of capital markets, asset management, and scaling high-growth companies provides him with a unique ability to identify and nurture disruptive startups poised for exponential success.

Hasnae Taleb shattered barriers as the youngest equity trader on Wall Street and the first Arab African woman to achieve such recognition in global capital markets. Known for her sharp analytical mind and fearless decision-making, Taleb earned the nickname “Shewolf of Nasdaq” for her unparalleled ability and navigate high-stakes trading scenarios with precision. Now, as Managing Partner of Mintiply Capital, she leverages her expertise in trading, equity markets, and entrepreneurship to build ecosystems that empower innovators and investors alike.
“Both Jeff and I understand what it takes to list companies and the immense value creation that occurs before a company goes public,” said Hasnae Taleb. “We are bringing this opportunity to investors in the region to give them access to exceptional returns and a strategic advantage over traditional investment avenues.”
Jeff Ransdell added, “The GCC market is evolving rapidly, and there’s a growing appetite for sophisticated investment vehicles. This fund delivers exactly that — it empowers investors to support transformative businesses while capturing the kind of returns typically reserved for institutional players.”
The introduction of this vintage fund and the strategic partnership between Mintiply Capital and Fuel Venture Capital reflect a shared commitment to enhancing the financial ecosystem in the UAE and KSA. By supporting visionary entrepreneurs and scaling innovative businesses, the duo aims to foster sustainable economic growth and establish the region as a hub for entrepreneurial excellence and venture capital success.
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