Latest news with #BitpandaTechnologySolutions
Al Etihad
06-04-2025
- Business
- Al Etihad
Innovation, visionary leadership fuel UAE crypto boom as adoption rises 41%: Expert
6 Apr 2025 23:50 SARA ALZAABI (ABU DHABI)The UAE leads the way in cryptocurrency adoption, particularly in the MENA region, a recent report revealed. As the country continues to make huge strides in the sector, digital assets are transforming financial transactions, from investments to everyday a recent release, fintech company Bitpanda Technology Solutions spotlighted the UAE as a leader in crypto adoption. In 2024, downloads of the top 49 cryptocurrency apps surged to 15 million in the UAE, marking an increase of 41% over the previous year. In January 2025 alone, app installations hit 3.55 million, proving a growing the end of 2025, user penetration is forecast to settle at 39.1% as using cryptocurrencies becomes a widespread phenomenon."Crypto adoption in the UAE is fueled by a perfect storm of innovation, regulation, and forward-thinking leadership," Nadeem Ladki, Global Head of Bitpanda Technology Solutions, told Aletihad. "The country has positioned itself as a global fintech hub, with regulatory bodies like VARA (Virtual Asset Regulatory Authority) and ADGM (Abu Dhabi Global Market) creating a secure and transparent framework for digital asset transactions. This regulatory clarity fosters trust, attracting businesses, institutional investors, and retail traders alike. At the same time, initiatives like the introduction of AE Coin, the UAE's first dirham-pegged stablecoin, showcase the government's commitment to integrating blockchain technology into the mainstream economy," he added. Almost 40% of UAE residents interact with digital assets, making the UAE one of the top voices on the global crypto platform, the report said. Emerging as one of the world's most crypto-friendly jurisdictions, the country stands shoulder to shoulder with global leaders like the US, Singapore, and Switzerland, Ladki said. However, the UAE stands out in several aspects. "What sets the UAE apart is its proactive regulatory approach, which provides clear guidelines rather than reactive restrictions. While many countries still grapple with regulatory uncertainty, the UAE has established a robust framework that encourages responsible innovation while safeguarding investors. This balance has attracted over $30 billion in crypto investments in 2024 alone, cementing its position as a key player in the global digital asset space," the expert said. Abu Dhabi and Dubai have become significant hubs for blockchain startups and investors, as the UAE builds an infrastructure that blends traditional with decentralised finance. Impact on Businesses and Consumers With rising crypto adoption, everyday transactions are bound to change, Ladki said. "Crypto is set to redefine financial transactions in the UAE by making payments faster, more cost-effective, and borderless. With the approval of AE Coin, businesses and consumers now have a stable, government-backed digital currency that enables instant transactions without the friction of traditional banking processes," he said."Whether it's paying for groceries, booking flights, or transferring remittances, crypto will streamline financial interactions, making them more efficient and inclusive."Extending beyond payments, blockchain's influence could also touch real estate, supply chain management, and government services, the expert said. Digital assets are transitioning from being investment vehicles to means of everyday transactions, which will subsequently enhance economic efficiency and accessibility as more businesses and institutions start accepting them. Financial Inclusion The AE Coin, Ladki said, is "a major milestone for the UAE's digital economy" as it bridges the gap between traditional finance and blockchain-powered transactions."As a dirham-pegged stablecoin, AE Coin provides all the advantages of crypto - instant transactions, security, and transparency - without the volatility typically associated with digital assets. This makes it an ideal solution for remittances, e-commerce, and even payroll processing, offering businesses and consumers a seamless way to transact in a stable digital currency."In five years, the UAE is aiming to be one of the most modern crypto economies in the market is expected to face an uptrend from $292.1 million in 2024 to $395.8 million in 2028, driven by increased adoption, integration into governments, and rising numbers of users. Such initiatives on blockchain talent and its infrastructure, nurturing a projected 42% CAGR for the industry with 2030 as a target, will locate the UAE amongst the first of digital finance and Web3 innovation firms in the world.
Al Etihad
30-03-2025
- Business
- Al Etihad
Eidiya tradition goes digital: Why cryptocurrency gift can be better than cash, expert explains
31 Mar 2025 00:26 SARA ALZAABI (ABU DHABI)Digital assets such as Bitcoin and stablecoins are transforming the ways families give gifts during Eidiya is a long-held tradition of handing cash gifts to younger members of the family during Eid celebrations. These days, however, the rise of cryptocurrency has been reshaping the an interview with Aletihad, Nadeem Ladki, Global Head of Bitpanda Technology Solutions, said "the cherished tradition of gifting money during Eid is evolving in step with the UAE's digital transformation.""While the sentiment remains unchanged, the medium is shifting from physical cash to digital assets like Bitcoin, Ethereum, and stablecoins," Ladki said."This shift is more than just a novelty - it reflects the UAE's increasing embrace of financial technology and innovation."The country has seen a 41% surge in crypto app downloads in 2024, according to recent research from analytics platform AppsFlyer. This means "digital assets are becoming mainstream and the idea of gifting crypto as Eidiya is a natural extension of this trend", Ladki said. 'A Gift that Keeps on Giving' Beyond convenience, digital Eidiya offers financial empowerment, the expert said. "By adopting digital Eidiya, families are not just keeping up with the times but also exposing their loved ones to the world of decentralised finance."In the crypto sphere, the traditional Eid cash gifts are being converted into appreciating assets. This encourages interest in investment, blockchain technology, and long-term wealth Eidiya can then set a new paradigm of financial traditions that transfers across why digital Eidiya is a better choice than cash, Ladki said: "Unlike traditional cash, which often disappears into quick purchases, digital Eidiya has the potential to grow in value, making it a gift that keeps on giving. A Dh100 gift in Bitcoin last year could have appreciated by over 24%, turning a simple holiday gesture into an investment opportunity. This shift encourages a mindset of financial growth rather than instant gratification, introducing recipients to the power of long-term investing.""Additionally, digital Eidiya is borderless, ideal for a place like the UAE, where families are often spread across different countries. With crypto, sending an Eid gift across the world takes seconds and incurs minimal fees, making it far more efficient than traditional bank transfers," he said. Standards for Safe Crypto Adoption Ladki stressed that giving a crypto Eidiya could be an instrument for financial literacy as it exposes children and families to a long-term investment approach rather than just spending and exposure to crypto equips young recipients with financial skills for the future, he that more people are embracing digital assets in the country, the UAE is settting "the standard for safe and regulated adoption", Ladki said."The Securities and Commodities Authority (SCA), the Virtual Assets Regulatory Authority (VARA), and the Abu Dhabi Global Market (ADGM) have been proactive in rolling out comprehensive regulations that protect both investors and businesses. By enforcing KYC (Know Your Customer) and AML (Anti-Money Laundering) guidelines, the government ensures that crypto transactions remain transparent and secure. This regulatory clarity has positioned the UAE as one of the most crypto-friendly jurisdictions globally, attracting major blockchain firms and investors," he AE Coin, a stable government-backed digital currency aimed at assuring consumers and pushing crypto adoption forward, the UAE is now in a phase of integrating digital assets into mainstream finance, Ladki digital assets enjoy heightened protection mechanisms, these are also used and exchanged under strict regulatory scrutiny, he companies like Bitpanda, transactions are securely protected through encryption, two-factor authentication, and cold storage. "Additionally, education plays a vital role in risk mitigation. By familiarising recipients with best practices, such as using reputable exchanges, securing private keys, and avoiding phishing attempts, digital Eidiya remains not only a forward-thinking financial gift but also a safe one. In many ways, crypto's traceability and transparency make it a more secure alternative to cash, which can be lost or spent without oversight," Ladki said.
Mid East Info
26-03-2025
- Business
- Mid East Info
UAE's Crypto Adoption Surges by 42%: Embrace Digital Eidiya This Ramadan
Dubai, UAE: What if your Eidiya this year didn't just disappear into a toy store run or a snack splurge—but grew in value over time? As the UAE continues to lead the MENA region in cryptocurrency adoption, a fresh twist on a cherished tradition is emerging digital Eidiya. Rooted in generosity and symbolic of blessings and prosperity, Eidiya—the tradition of gifting money to younger family members during Eid—is being reimagined for the digital era. And there's never been a better time to consider it. Recent figures show that downloads of the top 49 crypto apps in the UAE surged to 15 million in 2024, marking a 41% year-on-year increase. In January 2025 alone, the country recorded 3.55 million crypto app installations, highlighting a clear appetite for digital assets. With user penetration expected to hit 39.1% by the end of 2025, crypto is no longer a fringe trend—it's becoming a household norm. So, what if, instead of the usual cash envelope, you gifted your niece a fraction of Bitcoin, or set up a savings plan in Ethereum for your nephew? A thoughtful, forward-looking gesture that celebrates tradition and introduces your loved ones to the digital economy. 'The UAE's proactive regulatory environment has positioned it as a global leader in digital finance,' said Nadeem Ladki, Global Head of Bitpanda Technology Solutions . 'Gifting digital assets this Eid not only honors tradition but also empowers recipients with a stake in the burgeoning digital economy. In fact, if you had gifted your loved ones 100 AED of BTC for Eid last year, it would now be worth 124 AED, reflecting a 24% growth overall, highlighting the potential of digital assets as a meaningful and forward-thinking gift.' This movement is backed by a strong foundation. The Dubai Financial Services Authority (DFSA) continues to expand its recognized crypto tokens list, and the Abu Dhabi Global Market (ADGM) has rolled out the world's first DLT Foundations Framework, enabling legal structures for blockchain-based organizations. On top of that, the Central Bank of the UAE recently approved AE Coin, the country's first dirham-pegged stablecoin, unlocking faster and more affordable digital transactions. The numbers speak for themselves. In 2024 alone, the UAE attracted over $30 billion in crypto investments, securing its spot among the top 10 countries globally for crypto adoption. The MENA region clinched 7.5% of the world's total crypto transaction volume, reflecting its fast-growing role in the global digital finance arena. Platforms like Bitpanda are making it easier than ever to explore this space. This Ramadan, why not turn a heartfelt gesture into a long-term opportunity? Start a crypto savings plan for a sibling, gift a slice of gold token to a parent, or help a cousin begin their investment journey. From Bitcoin to Ethereum—and even precious metals—there's a digital asset out there with their name on it. After all, what could be a more modern form of barakah than the gift of financial growth? This Eid, give the gift that could keep on giving. About Bitpanda: Bitpanda was founded in Vienna in 2014 and is the leading European crypto platform. With a selection of over 2,800 digital assets, including more than 500 crypto assets and numerous stocks*, ETFs*, precious metals and commodities, the Austrian fintech unicorn offers one of the most comprehensive ranges of digital assets available in Europe. Already trusted by over 5 million users, and dozens of institutional partners, Bitpanda holds licences in several countries, and has a proven track record of working with local regulators to keep assets safe and secure. This makes Bitpanda one of the safest and most strictly regulated trading platforms in the industry. In addition to its headquarters in Vienna, Bitpanda has offices in Amsterdam, Barcelona, Berlin and Bucharest.
