A new crypto and blockchain non-profit member-oriented association has been established in Abu Dhabi which cuts across various sectors like education, innovation, and coordination.
The establishment of the Middle East, Africa, and Asia Crypto & Blockchain Association (MEAACBA) is regarded as a watershed moment in the evolution of accessible, transparent, and compliant crypto-blockchain ecosystems. All members and companies across the Middle East, Asia, and Africa involved with blockchain are open to being members of MEAACBA.
The Abu Dhabi Global Market (ADGM) which is the global financial center for Abu Dhabi is a key supporter of the association. A board of industry experts has also been deployed by the association.
Ahmed Jasim Al Zaabi, Chairman of ADGM gave a statement that:
“the MEAACBA’s decision to join ADGM is a clear recognition of the progressive regulations put in place by ADGM to enable the development of technological innovation in crypto”.
MEAACBA’s Board chairman, Jehanzeb Awan highlighted that the establishment of the MEAACBA will provide the blockchain industry with the needed knowledge and connections it needs to achieve great results by taking advantage of experts’ knowledge through webinars, courses, and events.
He also added that the digital industry will benefit from the Association through the provision of a coordination mechanism for regulators, government agencies, banks, legal, tax, and advisory firms to address the most pressing challenges.
Development of the Blockchain Association in the Middle East
Recep Tayyip Erdogan, the Turkish President, is said to have directed officials of the ruling Justice and Development Party (AK Party) to organize a forum to discuss new developments in specialized aspects of technology that was hosted in the metaverse as reported by a news media. The forum drew over specifics about the metaverse, cryptocurrencies, and how social media purchases are made.
Concerning the expansion of the blockchain industry in the Middle East, Seed Group, a subsidiary of Sheikh Saeed bin Ahmed Al Maktoum’s Private Office, has formed a strategic alliance with CoinCorner, a leading British financial services firm that facilitates the purchase and sale of Bitcoin globally.
As regards the partnership, CoinCorner will be able to expand its operations across the Emirates and the Middle East in general with the help of Seed Group. Seed Group, on the other hand, will focus on creating a user-friendly platform where UAE residents can buy, sell, send, receive, and store Bitcoin, as well as provide local businesses with cryptocurrency-related solutions.
