99Bitcoin’s Arijit Mukherjee reports from Abu Dhabi Financial Week (ADFW) as David Cameron and Richard Teng speak, asking will MENA cryptocurrencies be the next global hub?
The highly anticipated eighth edition of Fintech Abu Dhabi returned this year, reaffirming its position as the largest fintech festival in the Middle East. With a main focus on payments, digital assets, digital security and credit, the event attracted global technology leaders, technology innovators, banking institutions, developers, entrepreneurs and investors, highlighting Abu Dhabi’s position as an international hub for financial innovation.
“FinTech Abu Dhabi embodies our dedication to innovation, as we bring global visionaries together to shape the future of finance and technology. “We aim to facilitate meaningful conversations that continue to foster a thriving ecosystem alongside progressive frameworks and a dynamic business environment,” said Salem Mohammed Al Darei, CEO of Abu Dhabi Global Market Authority.
By fostering this, we have enabled collaboration where innovation in finance and technology can flourish and reinforce Abu Dhabi’s position as a leading hub for financial innovation and technology.“
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What trends dominated the ADFW event: Crypto positions in range
Several high-level sessions and forums highlighted key trends within the sector. In a packed session, Lord David Cameron, former UK Prime Minister, spoke about key policies and decisions made in the UK a decade ago that are still bearing fruit.
Keynote by Paul KeyrouzCEO of FinTech at the Central Bank of the UAE, highlighted “Cementing Success: UAE as a Global FinTech Hub”, while the fireside conversation on “Investing in AI: What Does the Next World Look Like?” With His Royal Highness Prince Khalid bin Alwaleed bin Talal Al Saud, Founder and CEO of KBW Ventures, we explored the promise of AI as a transformative asset class and And its impact on industries such as finance and health.
On stage, Richard Teng, CEO of Binance, and Jeremy Allaire, CEO of Circle Internet Financial – a USDC issuer, unveiled a strategic partnership on the ADFW stage that will accelerate global USDC and cryptocurrency adoption.
“Art that sparks conversation about blockchain” in @ADFinanceWeek
An exhibition sponsored by two topics…
Art that leverages blockchain as a medium
Includes @mathcastles @crashblossom1 @0xShirui @Figure31_ @0xmons @harmvddorpel @rutgerfandertas @I____Felix____I pic.twitter.com/OFkh3ULuxa
— Omz (@omz_nft) December 10, 2024
Other key participants included Lily Lowe – President of the Solana Foundation, Konstantin Richter – CEO of Blockdaemon, Jonathan Levin, Co-Founder and CEO of Chainalogy, Rebecca Rettig – Chief Legal and Policy Officer at Polygon Labs and Angela Walker – Global Head of Banking and Policy. Capital Markets at Chainlink Labs.
Panel discussion entitled “Has the Unicorn Machine Stopped Working?” We discussed the emergence of new fintech unicorns despite challenges in the venture capital market and examined whether further growth can be sustained or whether consolidation is necessary. In this discussion, representatives from FJ Labs, VentureSouq, Airwallex, and Financial Technology Partners took the stage.
The “Building the Digital Assets Ecosystem” panel included well-known names such as Sébastien Danloe – CEO of Euroclear Group, Nadine Shukr – Managing Director and Head of Global Digital Assets at Depository Trust & Clearing Corporation, and Domenico Nardelli – Treasurer at the Asian Infrastructure Investment Bank ( Asian Infrastructure Investment Bank) and Marianne Demarchi – CEO EMEA at Swift.
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ADFW sees Abu Dhabi Global Market seeking to become new global crypto hub with 30 MoUs signed
ADGM is the first jurisdiction in the region to establish a comprehensive regulatory framework for spot virtual asset activities, including multilateral trading facilities, brokers, custodians, asset managers and other intermediaries.
ADGM’s DLT framework is also designed for Blockchain Enterprises, Decentralized Autonomous Organizations (DAOs), Web3 entities, and traditional institutions, enabling them to operate and issue tokens in line with the needs of the blockchain industry.
IOTA becomes the first fully regulated cryptocurrency institution in the UAE: #The UAE #corn #ADFW #ADFW2023 copy @corn @ADGlobalMarket #encryption #Cryptocurrency #Blockchain pic.twitter.com/aD3kP7rWFR
– Ayelet Nouf
(@Ailetnov) November 29, 2023
This first-of-its-kind framework reinforces ADGM’s strategy to drive innovation in the field of blockchain and digital assets while setting a global standard.
The event has witnessed the signing of more than 30 memorandums of understanding so far, with ADGM signing major memorandums of understanding with Palo Alto Networks and Maan, and IOTA becoming the first fully regulated cryptocurrency institution in the UAE.
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