Emirates and Crypto.com Partnership

Through this new initiative, passengers will be able to pay for Emirates flights, upgrades, duty-free shopping, and other services using Bitcoin (BTC), Ethereum (ETH), Cronos (CRO), and stablecoins such as USDT and USDC. Plans also include supporting more than 30 cryptocurrencies, making it easier to integrate digital assets into daily life.

UAE Airlines Supporting Crypto

• Air Arabia: Dubai-based low-cost airline accepts the dirham-backed stablecoin AE Coin for flight bookings.

• Travala: Blockchain-based global travel booking platform supporting multiple cryptocurrencies including BTC, ETH, USDT, USDC, Binance Coin (BNB), and its native AVA token.

• Destinia: Offers flexible payment options for flights, hotels, and car rentals; supporting BTC, ETH, and USDT.

• Alternative Airlines: Online platform offering bookings with over 650 airlines worldwide, including Emirates and Etihad, supporting many coins such as BTC, ETH, XRP, Litecoin, Cardano, Dogecoin, and USDT.

UAE’s Vision for Global Crypto Leadership

The UAE is emerging as a leader in the crypto space with a strong regulatory framework and proactive initiatives. Recent regulations focus on licensing, AML/KYC compliance, consumer protection, and adherence to international standards like FATF. These measures enhance stability and transparency for crypto assets in the UAE.

Emirates’ Chief Commercial Officer Adnan Kazim stated, “Partnering with Crypto.com to integrate cryptocurrency into our digital payments system reflects Emirates’ commitment to evolving customer preferences and reaching tech-savvy younger audiences.”

Kazim added, “This strategic move aligns with Dubai’s vision to lead in financial innovation while offering our customers more flexibility and choice when transacting with Emirates.”

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Direct Crypto Access Through AED Accounts

With this integration, RAKBANK customers can now trade eight major digital assets, including Bitcoin and Ethereum, using their existing AED accounts. There’s no need for external platforms or complex transfers. The transactions are processed through Bitpanda Broker MENA DMCC — a licensed entity operating out of Dubai — ensuring regulatory compliance and operational transparency.

UAE’s Digital Ambitions Gain Momentum

This move is aligned with the UAE’s broader vision of becoming a global fintech hub. By embracing Bitpanda’s robust trading infrastructure, RAKBANK steps beyond traditional banking to offer clients exposure to the world of crypto investing — with a particular emphasis on competitive trading fees that appeal to retail users.

Strategic Collaboration Over In-House Development

Rather than building its own solution, RAKBANK chose to leverage Bitpanda’s proven systems — a decision that not only reduces deployment time but also cuts operational costs. This plug-and-play approach reflects the UAE’s regulatory sandbox environment, which encourages innovation while maintaining strong oversight.

A Trailblazer in the MENA Region

RAKBANK’s initiative could give it a crucial first-mover advantage across the Middle East and North Africa (MENA). Supported by regulatory bodies like Dubai’s Virtual Assets Regulatory Authority (VARA), this move may inspire other regional banks to accelerate their entry into altcoin and blockchain-based financial services.

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In a statement, Aqua 1 said that its acquisition of $WLFI tokens aims to accelerate the development of a blockchain-based financial ecosystem built around stablecoins and tokenized traditional assets.

WLFI Token: Non-Transferable, but Offers Voting Rights

The $WLFI token is currently defined as a governance token. It cannot yet be traded on open markets, but holders are given the right to vote on proposed changes to the project’s underlying codebase. World Liberty confirmed it is “actively working” to make the token transferable in the near future.

Dave Lee, founding partner of Aqua 1, stated that WLFI and Aqua 1 will collaborate to identify and support high-potential blockchain projects. The foundation also revealed that its investment and compliance teams will support World Liberty’s expansion into South America, Europe, and Asia.

Limited Online Footprint for Aqua 1

Despite its high-profile investment, Aqua 1 has a minimal online presence. Its X (formerly Twitter) account has just three posts and about 1,120 followers. Domain data also shows that the foundation’s website was only registered on May 28.

New Fund to Launch in the Middle East

World Liberty has further plans to support the launch of a new Aqua 1 fund focused on accelerating digital economy transformation across the Middle East, leveraging both blockchain and artificial intelligence technologies.

While Aqua 1 did not respond to media inquiries, a World Liberty spokesperson also declined to offer additional comment.

WLFI: A Major Revenue Stream for the Trump Family

World Liberty was launched just two months before the 2024 U.S. presidential election, and has since generated hundreds of millions of dollars in revenue for the Trump family’s business interests. However, the platform has faced criticism from Democratic lawmakers and ethics watchdogs due to perceived conflicts of interest.

The Trump Organization maintains that the president’s assets and business operations are held in a trust managed by his children.

USD1 Stablecoin and Binance Partnership

World Liberty’s broader mission is to expand access to financial services via digital tokens, removing the need for intermediaries such as banks. As part of this vision, it developed the USD1 stablecoin, which gained momentum in May when an Abu Dhabi-based investment firm selected it for a $2 billion investment into major crypto exchange Binance.

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Primary and Secondary Markets on the Rise

In May alone, Dubai witnessed around 18,700 real estate transactions, pushing the total value to 66.8 billion dirhams (approx. $18.2 billion). Compared to the same period last year, this represents a 44% jump in transaction value. The primary market was the standout performer with a 314% surge, while the secondary market also saw a notable 21% growth.

A Growing Foundation for Real Estate Tokenization

Industry experts believe this record-setting momentum indicates that Dubai is well-positioned for innovations like property tokenization. This process involves breaking down real estate assets into digital fractional shares, making them accessible to a wider range of investors.

One prominent executive noted that Dubai is proving to be a liquid and forward-thinking real estate environment, where tokenization is no longer a future possibility but an evolving reality. By lowering the entry barrier, fractionalized ownership could open up real estate investment to both local and global participants.

Institutional Moves and Regulatory Backing

The impressive performance in May was backed by significant developments on the institutional and regulatory front. On May 1, a $3 billion agreement was signed between Dubai’s MultiBank Group, real estate giant MAG, and blockchain tech provider Mavryk. Through this collaboration, MAG’s luxury projects will be tokenized and offered via a compliant blockchain infrastructure.

Later, on May 19, Dubai’s virtual asset regulator introduced updated guidelines to support the tokenization of real-world assets. These new rules provide greater clarity for platforms and issuers, helping to create a more secure environment for tokenized property offerings.

Another major step came on May 25, when the Dubai Land Department, the UAE Central Bank, and the Dubai Future Foundation jointly launched the first tokenized property initiative in the MENA region. This government-backed platform enables investors to buy digital shares of ready-to-own properties in Dubai.

Leading the Way in Property Tech Innovation

Dubai is swiftly evolving into more than just a luxury real estate hotspot—it’s becoming a pioneer in tech-driven ownership models. With robust regulatory support, record-level transaction activity, and large-scale blockchain adoption, the city is positioning itself as a global leader in real estate digitization.

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APS Invests $3.4M in MetaWealth’s Tokenized Bonds

Pan-European asset manager APS, which controls over €12 billion ($13.7 billion), has become the first institutional investor to directly purchase tokenized real estate assets via MetaWealth. The company acquired €3 million ($3.4 million) in tokenized bonds tied to two residential projects in Italy — Fo.Ro Living Rome and Porta Pamphili Rome.

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Each tranche was worth €1.5 million and offered on the same terms as those available to retail investors. All transactions were recorded on blockchain, ensuring full transparency and security.

“Tokenisation is a transformative shift in investment, increasing liquidity and simplifying transactions while maintaining compliance,” said Mihai Pop, manager at APS.

MetaWealth Expands Its Real Estate Token Empire

Founded in 2023, MetaWealth enables fractional ownership of Pan-European properties. The platform has already processed over $50 million in tokenized real estate transactions across Romania, Spain, Greece, and Italy.

CEO Amr Adawi commented, “This investment builds trust in the sector, adds liquidity to the ecosystem, and expands access to real-world assets for institutions and individuals alike.” MetaWealth now ranks among the world’s top 10 RWA tokenization platforms, with users from 23 countries.

Tokenization Goes Mainstream

Interest in RWA tokenization has soared recently. On April 30, BlackRock filed to introduce a blockchain-based share class for its $150 billion Treasury Trust Fund. That same day, Libre announced plans to tokenize $500 million in Telegram debt.

On May 1, MultiBank Group secured a $3 billion tokenization deal with UAE-based MAG and Mavryk, further confirming that tokenization is not just a trend — it’s the future of finance.

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Circle CEO Jeremy Allaire emphasized that this approval aligns with the company’s long-term vision of embedding itself in jurisdictions that support the onchain economy. He also underlined Circle’s continued commitment to responsible global oversight of stablecoins.

Strategic Alliance with Hub71

Alongside regulatory progress, Circle revealed a new collaboration with Hub71, Abu Dhabi’s leading tech innovation ecosystem. Through this partnership, Circle will contribute to regulatory sandbox projects within the ADGM and play an active role in advancing blockchain innovation.

The company will also become part of Hub71’s digital asset group, engaging with a network of over 500 startups and investors and sharing its expertise in blockchain infrastructure and compliance.

USDC’s Expanding Footprint

Circle’s flagship stablecoin, USDC, is currently the second-largest in the world by market cap, with more than $62 billion in circulation. As global demand for stablecoins grows, Circle continues to break ground in key financial markets.

In July 2024, Circle became the first international issuer to fully align with the EU’s Markets in Crypto-Assets (MiCA) regulatory framework. In Asia, its partnership with SBI Holdings paved the way for a historic moment on March 26, 2025, when SBI VC Trade launched USDC trading—making it the first stablecoin officially approved under Japan’s digital asset laws.

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Co-founder and CEO Munaf Ali stated that the company’s strategy focuses on securing locations with abundant and low-cost energy, with the new Ethiopian site playing a key role in long-term positioning.

Targeting Sustainable Mining With Clean Energy

The 52 MW mining facility will be developed in two phases. The first phase uses 20 MW to power 5,300 air-cooled units, delivering around 1.2 exahashes per second of mining power. The second phase — set for completion by end of Q2 2025 — will fully utilize the 52 MW, with water cooling and 2.4 exahashes per second output.

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Reza Nedjatian, CEO of the group’s mining and AI division, emphasized that the facility is powered entirely by renewable hydropower, highlighting a commitment to sustainable large-scale operations in Africa.

Phoenix Now Operates Over 500 MW Globally

After going public on the Abu Dhabi Securities Exchange (ADX) in late 2023, Phoenix Group’s IPO raised $371 million with 33x oversubscription, reflecting strong investor demand. The company’s stock quickly rose by 50%, and currently trades around $7.94.

Earlier in 2024, Phoenix completed a $187 million acquisition of Bitcoin mining equipment in one of the industry’s largest bulk purchases. Additionally, the firm has partnered with Tether and Green Acorn Investments to develop a new stablecoin pegged to the UAE dirham.

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Sonic Labs Rejects Algorithmic USD Stablecoin Plans: Develops Dirham-Backed Alternative

Sonic Labs has canceled its plans to launch a US dollar-pegged algorithmic stablecoin, opting instead to develop a United Arab Emirates (UAE) dirham-based alternative.

Strategy Shift and New Roadmap

Sonic Labs co-founder Andre Cronje stated on March 22 that the company was working on an algorithmic stablecoin with an annual percentage rate (APR) of up to 23%. However, a week later, the company abandoned this plan.

On March 28, Cronje posted on X:

“We will no longer be releasing a USD-based algorithmic stablecoin. Completely unrelated, we will be releasing a mathematically bound numerical Dirham, which is settled and denominated in USD. This is definitely not a USD-based algorithmic stablecoin.”

This strategic shift comes shortly after the UAE Central Bank announced plans to launch its digital dirham (CBDC) in the fourth quarter of 2025.

Digital Dirham and Financial Stability

UAE Central Bank Governor Khaled Mohamed Balama stated that the blockchain-based digital dirham would enhance financial stability and contribute to combating financial crime. The digital currency will be accepted across all payment channels alongside physical banknotes.

Sonic Labs Faced Criticism Over Algorithmic Stablecoins

Sonic Labs’ initial plans for an algorithmic stablecoin faced intense criticism due to the collapse of the Terra ecosystem in 2022.

Andre Cronje admitted that these models posed risks, even stating that he suffered from post-traumatic stress disorder (PTSD) due to past experiences:

“I’m pretty sure our team cracked algorithmic stablecoins today, but the previous cycle gave me so much PTSD that I’m not sure if we should implement it.”

In May 2022, the $40 billion Terra ecosystem collapsed, shaking confidence in the algorithmic stablecoin model. Terra’s stablecoin, UST, was yielding over 20% interest through Anchor Protocol before losing its peg and plummeting to $0.30. Terraform Labs co-founder Do Kwon was forced to propose a rescue plan.

During this collapse, LUNA fell from $120 to $0.84, losing over 98% of its value.

These shifts in the stablecoin ecosystem, combined with Sonic Labs’ strategy change and the UAE’s digital currency initiative, signal a new era for the market.

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White House Crypto and AI Czar David Sacks Meets with UAE Officials

White House crypto and AI czar David Sacks was among several Trump administration officials who recently met with officials from the United Arab Emirates (UAE). The discussions focused on emerging technologies and UAE’s plans to increase its investments in the United States.

UAE National Security Adviser and the country’s president’s brother, Sheikh Tahnoon Bin Zayed Al Nahyan, mentioned in an X post on March 20 that he spoke with Sacks about the impact of AI, “the expanding role of digital currencies,” and “the investment opportunities emerging at their convergence.”

President Donald Trump invited Sheikh Tahnoon to a dinner at the White House on March 18 and shared on Truth Social the next day that he and senior U.S. officials discussed with Tahnoon “ways for their countries to increase their partnership for advancing their economic and technological futures.”

Sheikh Tahnoon Engages in High-Level Discussions on Technology and Investment in the U.S.

The full details of Sheikh Tahnoon’s discussions have not been made public, but Bloomberg reported on March 19 that people familiar with his meeting with Trump said he planned to talk about technology, energy, and UAE’s intentions to increase its investments in the U.S.

Multiple posts on Sheikh Tahnoon’s X account show that he held discussions with Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent regarding trade and investment, as well as having a video call with White House cost-cutting czar Elon Musk to discuss government systems.

UAE’s Investment Plans in the U.S. On the Agenda

Sheikh Tahnoon held talks on artificial intelligence (AI) with tech executives including Oracle co-founder Larry Ellison, BlackRock CEO Larry Fink, Microsoft CEO Satya Nadella, and Nvidia CEO Jensen Huang. According to Bloomberg, he plans to discuss how the UAE could gain easier access to computer chips after the Biden administration’s restrictions on chip exports in 2023, as well as the country’s plans to establish technology infrastructure in the U.S.

Sheikh Tahnoon is the chairman of the investment firm MGX, which is reportedly planning to invest $7 billion into a $500 billion “Stargate” AI data center project. MGX also invested $2 billion in Binance and is part of a $1.5 trillion empire controlled by Sheikh Tahnoon, which includes UAE’s sovereign wealth funds, First Abu Dhabi Bank, and the AI firm G42.

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This move aims to make cryptocurrencies more accessible, especially for investors in the Middle East and North Africa (MENA) region. Tether’s CEO, Paolo Ardoino, stated that the launch of the dirham-pegged stablecoin will allow users in the region to more easily access digital assets using their local currency. Additionally, the development of this stablecoin on the TON blockchain will offer significant advantages in terms of transaction speeds and security.

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Steve Yun, the President of the TON Foundation, expressed that this partnership has the potential to attract more users to the TON network and could enhance TON’s strength within the global crypto ecosystem.

UAE Approves Licensing System for Stablecoins

The United Arab Emirates (UAE) has approved the establishment of an official licensing system for stablecoins. This new regulation aims to strengthen the regulatory framework in the cryptocurrency sector and increase the use of digital assets in the local economy.

The UAE Central Bank announced the launch of a new licensing process to clarify the legal status of stablecoins and oversee activities in this area. This system will help ensure that companies issuing stablecoins comply with certain standards, thereby protecting investors.

Regulatory authorities plan to implement various measures to mitigate the potential risks of stablecoins and enhance transparency in the sector. Additionally, this licensing system will support the UAE’s goal of becoming a global hub for cryptocurrency and blockchain technologies.

In recent years, the UAE has taken significant steps in the blockchain and cryptocurrency space, working to strengthen its leadership position in the region. This new licensing system will provide greater assurance for stablecoin projects in the country, creating an attractive environment for both local and international investors.

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