Latest news with #CBUAE
Zawya
3 days ago
- Business
- Zawya
ADI Foundation launches a testnet for the world's first sovereign blockchain powered by GPU Computing
RELATED TOPICS UNITED ARAB EMIRATES RELATED COMPANIES CBUAE Abu Dhabi Dev. Natwest Grp Engineered and launched from the UAE capital, ADI Chain symbolizes Abu Dhabi's rise as a global hub for sovereign digital infrastructure. Solving the Web3 Trilemma & Unlocking New Real-World Use Cases. ADI Chain aims to serve as the backbone for digital services across finance, identity, healthcare, sustainability, and other real-world sectors. ABU DHABI, UNITED ARAB EMIRATES – The ADI Foundation today announced the beginning of a public testnet launch of ADI Chain, built to be the world's fastest blockchain infrastructure powered by GPU computing; a global first in decentralized technology, born in Abu Dhabi and designed for the world. The testnet implementation demonstrates world-class proving performance, and it is set to be the fastest proof system to be used in production. Abu Dhabi is setting a new global standard; one that combines cutting-edge innovation with a mission to deliver trusted, next-generation infrastructure across emerging markets. From smart automation of core protocols to performance tuning, data validation and availability, ADI Chain's AI-engineered protocol unlocks entirely new capabilities for governments, enterprises, and developers alike. The use of GPUs allows for deeper on-chain intelligence, real-time network adaptation, and more sustainable infrastructure at scale. ADI Chain is not only built to be a technological breakthrough, it also solves one of the most persistent problems in Web3 Trilemma and delivers a sustainable 2000TPS (with the potential for future growth) and sub-0.00001$ transaction fees in approximate. These performance advancements represent more than just numbers - they signify a revolutionary future where blockchains seamlessly interact and settle transactions in real-time, enabling developers to build robust client-side applications with localized proof generation capabilities. This bold leap in technology also unlocks use cases that were previously impossible on traditional blockchain infrastructures such as Real-Time AI-Driven Financial Trading, Dynamic AI-Controlled Gaming Economies and Privacy-Preserving Identity Systems. 'ADI Chain represents a step-change in how nations and institutions can harness cutting-edge technology for real-world impact,' said Dame Alison Rose, Council Member to the ADI Foundation and former CEO of NatWest Group. 'This is the first time we've seen AI and GPU computing converge to build decentralized infrastructure from the ground up and it's happening in Abu Dhabi. The potential to drive inclusive economic participation and digital sovereignty across emerging markets is extraordinary.' ADI Chain aims to serve as the backbone for digital services across finance, identity, healthcare, sustainability, and other real-world sectors, starting with its integration into the Dirham-backed stablecoin project being developed in collaboration with leading UAE institutions including FAB, ADQ, and IHC, and to be regulated by the Central Bank of the UAE. The public testnet is now live, and builders, institutions, and partners are invited to participate in shaping the future of blockchain; AI engineered, powered by GPUs, and launched proudly from Abu Dhabi. About ADI Foundation ADI Foundation is an Abu-Dhabi based non-profit organization founded by Sirius International Holding (a subsidiary of IHC), dedicated to empowering governments and institutions in emerging markets through blockchain infrastructure and partnerships needed to unlock sovereign digital economies and drive large-scale social and economic inclusion. Its mission is to bring 1 billion people into the digital economy by 2030, building on a strong foundation of 400+ million people already within its reach. Through strategic partnerships in over 20 countries and a growing portfolio of use cases such as a new UAE stablecoin backed by Dirhams, ADI is redefining what is possible at the intersection of technology and impact. Positioned in Abu Dhabi which is rapidly emerging as the Silicon Valley of inclusive tech-finance, ADI Foundation is proud to lead the transformation by turning visionary policy into practical, scalable systems that empower people, businesses, and governments alike.
Gulf Business
3 days ago
- Business
- Gulf Business
UAE Central Bank fines foreign bank $163,000 for non-compliance
The The sanction follows examinations carried out by the CBUAE, which found that the branch had failed to meet the requirements set out in the Market Conduct and Consumer Protection Regulations and Standards. Read: In a statement, the CBUAE reaffirmed its commitment to ensuring all banks and their employees comply with UAE laws and the regulatory framework established by the Central Bank. These efforts are aimed at safeguarding transparency and upholding the integrity of the banking sector and the broader financial system.
Arabian Business
3 days ago
- Business
- Arabian Business
UAE central bank fines foreign bank branch $164,000 for regulatory violations
The Central Bank of the UAE (CBUAE) has imposed a financial sanction of AED 600,000 on a branch of a foreign bank operating in the UAE for failing to comply with regulatory requirements. The penalty was issued pursuant to Article 137 of the Decretal Federal Law No. 14 of 2018 Regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments. The financial sanction stems from findings during examinations conducted by the CBUAE, which revealed that the foreign bank branch had failed to comply with the Market Conduct and Consumer Protection Regulations and Standards. The CBUAE stated that through its supervisory and regulatory mandates, it 'works to ensure that all banks and their staff, abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard the transparency and integrity of the banking sector and the UAE financial system.' The central bank did not identify the specific foreign bank branch that received the penalty. The enforcement action demonstrates the CBUAE's commitment to maintaining regulatory compliance across all banking institutions operating within the UAE's financial system.
Gulf Today
3 days ago
- Business
- Gulf Today
UAE Central Bank imposes financial sanction of Dhs600,000 on branch of a foreign bank
The Central Bank of the UAE (CBUAE) imposed a financial sanction of Dhs600,000 on a branch of a foreign bank operating in the UAE, pursuant to Article (137) of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments. The financial sanction is based on the results of the findings of examinations conducted by the CBUAE, which revealed that the branch of the foreign bank had failed to comply with the Market Conduct and Consumer Protection Regulations and Standards. The CBUAE, through its supervisory and regulatory mandates, works to ensure that all Banks and their staff, abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard the transparency and integrity of the banking sector and the UAE financial system. WAM
Sharjah 24
4 days ago
- Business
- Sharjah 24
CBUAE imposes financial sanction on branch of foreign bank
The financial sanction is based on the results of the findings of examinations conducted by the CBUAE, which revealed that the branch of the foreign bank had failed to comply with the Market Conduct and Consumer Protection Regulations and Standards. The CBUAE, through its supervisory and regulatory mandates, works to ensure that all Banks and their staff, abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard the transparency and integrity of the banking sector and the UAE financial system.
