Latest news with #FinancialInfrastructure
Zawya
24-07-2025
- Business
- Zawya
CBUAE, Mercury launch strategic joint venture to strengthen UAE's national financial market infrastructure
The Central Bank of the United Arab Emirates (CBUAE) and Mercury have announced the formation of a strategic joint venture, Unitey Business Services, aiming at supporting the Financial Infrastructure Transformation programme (FIT) launched by the CBUAE. This joint venture will enhance the operations of the UAE's national financial market infrastructure and meet the highest standards and practices in terms of efficiency, resiliency and business continuity of the different systems and platforms. By aligning CBUAE's strategic vision with Mercury's proven expertise in payments infrastructure technology and services, the venture represents a robust public-private partnership that underscores CBUAE's commitment to preserving national sovereignty over critical financial systems. The new joint venture company was formally launched during a signing ceremony witnessed by Khaled Mohamed Balama, Governor of the CBUAE, Muzaffar Khokhar, Executive Chairman of Mercury, and Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE. The agreement was signed by Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE and Muzaffer Hamid, Chief Executive Officer of Mercury. Commenting on the agreement, Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE, said, "This joint venture reflects our ambition to build a future-focused payments infrastructure that is both innovative and resilient, and promotes financial inclusion across the UAE. Our partnership with Mercury enables us to harness global best practices and capabilities as we drive the digital transformation of the UAE's financial ecosystem.' Muzaffar Khokhar, Executive Chairman of Mercury, added, 'We are honoured to partner with the Central Bank of the UAE in this strategic venture which plays a central role in advancing the vision of CBUAE's FIT programme and highlights our mutual dedication to creating a secure, inclusive, and future-ready payments infrastructure for the nation.'
Zawya
24-07-2025
- Business
- Zawya
CBUAE and Mercury launch strategic joint venture
Abu Dhabi: The Central Bank of the United Arab Emirates (CBUAE) and Mercury have announced the formation of a strategic joint venture, Unitey Business Services, aiming at supporting the Financial Infrastructure Transformation programme (FIT) launched by the CBUAE. This joint venture will enhance the operations of the UAE's national financial market infrastructure and meet the highest standards and practices in terms of efficiency, resiliency and business continuity of the different systems and platforms. By aligning CBUAE's strategic vision with Mercury's proven expertise in payments infrastructure technology and services, the venture represents a robust public-private partnership that underscores CBUAE's commitment to preserving national sovereignty over critical financial systems. The new joint venture company was formally launched during a signing ceremony witnessed by His Excellency Khaled Mohamed Balama, Governor of the CBUAE, Mr. Muzaffar Khokhar, Executive Chairman of Mercury, and His Excellency Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE. The agreement was signed by His Excellency Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE and Mr. Muzaffer Hamid, Chief Executive Officer of Mercury. Commenting on the agreement, His Excellency Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE, said, "This joint venture reflects our ambition to build a future-focused payments infrastructure that is both innovative and resilient, and promotes financial inclusion across the UAE. Our partnership with Mercury enables us to harness global best practices and capabilities as we drive the digital transformation of the UAE's financial ecosystem.' Mr. Muzaffar Khokhar, Executive Chairman of Mercury, added, 'We are honoured to partner with the Central Bank of the UAE in this strategic venture which plays a central role in advancing the vision of CBUAE's FIT programme and highlights our mutual dedication to creating a secure, inclusive, and future-ready payments infrastructure for the nation.' About Central Bank of the UAE (CBUAE) The CBUAE is the supervisory and regulatory authority of the banking and insurance sector in the UAE. It promotes monetary and financial stability, resilience, and consumer protection through effective oversight, supporting sustainable economic growth for the nation and its people. About Mercury Mercury is a Middle East Africa focused, multifaceted payment technology infrastructure and services provider to Central Banks and National payment utilities. Headquartered in the UAE, Mercury specializes in developing and operating secure, scalable, and inclusive payment ecosystems that strengthen national payment sovereignty and support long-term digital transformation.
Arabian Business
23-07-2025
- Business
- Arabian Business
CBUAE joins hands with Presight to enhance UAE's financial infrastructure
The Central Bank of the United Arab Emirates (CBUAE) and Presight, UAE's leading AI and big data analytics company, have launched a joint venture to support the central bank's Financial Infrastructure Transformation programme (FIT). The JV will deliver sovereign, AI-powered technological platforms and services to support and enhance the UAE's financial market infrastructure. It will play a central role in the development, maintenance, and technical support of various critical financial market infrastructures, including the Central Bank Digital Currency (CBDC) infrastructure, Instant Payments Platform (Aani), Domestic Card Scheme (Jaywan), National Card Switch, Real-Time Gross Settlement (RTGS) system, and Open Finance (Nebras). The partnership marks a milestone in the UAE's journey to strengthen resilience, and harness artificial intelligence across every facet of its financial ecosystem. Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE, and Thomas Pramotedham, Chief Executive Officer of Presight, signed the agreement in the presence of Khaled Mohamed Balama, Governor of the CBUAE.
Yahoo
18-07-2025
- Business
- Yahoo
Crypto for Advisors: Crypto Week: What Does it Mean for Advisors?
Happy Crypto Week! In today's Crypto for Advisors newsletter, Beth Haddock of Warburton Advisers provides a mid-year check-in on the advancements in the crypto industry and what this means for advisors. Then, Chris Jenkins of Pocket Networks Foundation answers questions about regulatory changes for investors in Ask an Expert. – Unknown block type "divider", specify a component for it in the ` option Crypto Week: What Does it Mean for Advisors? Now well into the second half of 2025, crypto's trajectory is clear: it's evolving from excitement into core financial infrastructure. Stablecoins are gaining legitimacy, regulators are actively engaging with the industry, and persistent cybersecurity threats persist. These shifts require advisors to reassess strategies, educate clients, and prepare for a more structured and scrutinized market. Crypto Week captured the momentum and underscored a key message: financial professionals must understand the role of crypto in the broader system and decide how to engage responsibly. Three developments stand out. 1. Stablecoins: From Fringe to Financial Infrastructure Stablecoins are moving firmly into the financial mainstream. This week's anticipated vote on the proposed GENIUS Act, coupled with prior statements from the SEC, Federal Reserve, and FDIC, signals a turning point. The Act outlines a regulatory regime governing reserves, redemption rights, and public disclosures, bringing long-awaited clarity to compliant issuance. Institutional adoption is accelerating. Major banks are developing stablecoin or tokenized alternatives. Corporate treasurers are piloting stablecoins for payments and working capital management. Cross-border payments — historically a pain point — with stablecoins can be faster, cheaper, and more transparent. For advisors, this represents a fundamental shift in financial infrastructure. Exposure to regulated stablecoins could soon be as routine as managing money market allocations. As infrastructure shifts, liquidity strategies and treasury operations will evolve. Stablecoins are no longer fringe — they're becoming foundational. 2. A New Era of SEC Engagement & Institutional Scaling After years of friction, the SEC has taken a more proactive — but still cautious — approach. Through public roundtables, the agency is engaging stakeholders to better understand digital assets, staking, custody, and DeFi. These are not enforcement forums; they are opportunities to shape policy. Commissioners Peirce and Uyeda have emphasized the importance of collaboration and regulatory clarity. Under its Crypto 2.0 initiative, the SEC's Crypto Taskforce has published guidance on decentralized protocols, exchange-traded products, and custody standards. However, this shift doesn't mean due diligence is easier — it means it matters more. The SEC continues to examine how registrants are managing risk, controls, and disclosures. Growth from players like Robinhood and JPMorgan signals institutional scale, but not necessarily fiduciary alignment. Advisors must anchor diligence in the core duties of loyalty and care. This includes verifying the distinction between tokenized wrappers and underlying assets, understanding conflicts of interest, and assessing whether operations align with regulatory expectations. What appears compliant today could be scrutinized under future SEC leadership or litigation. 3. Security and Responsible Innovation As regulatory frameworks mature with efforts like the GENIUS Act and anticipated market structure reforms, misconduct persists. From AI-generated scams to pump-and-dump schemes, familiar fraud risks have evolved, often targeting less sophisticated investors or exploiting cybersecurity gaps. The SEC and CFTC continue to issue investor alerts, focusing not only on product design but also on marketing practices, cybersecurity, and fraud controls. The bar is rising—and firms that fail to meet it risk reputational damage and enforcement action. This creates a leadership opportunity. Advisors can protect clients by minimizing conflicts, applying rigorous due diligence, and steering capital toward products with real utility, transparent governance, and robust security protocols. This includes evaluating how incentives are structured and whether operational resilience is built into platforms. In today's environment, overlooking cybersecurity, governance, or fraud red flags isn't just careless — it may be seen as enabling misconduct. From Innovation to Trust The second half of 2025 marks a shift from momentum to maturity for the crypto industry. With regulatory clarity improving and institutional adoption rising, the groundwork is being laid for a more resilient and trustworthy financial system. Advisors who stay informed, ask hard questions, and embed client-first principles into their digital asset strategies will lead the transition toward responsible innovation. This isn't just about early adoption — it's about building lasting trust in the next generation of finance. - Unknown block type "divider", specify a component for it in the ` option Ask an Expert Q. Beyond the disbanding of the National Cryptocurrency Enforcement Unit, what changes in enforcement priorities are affecting investors? A. The stablecoin reserve requirements make sure that issuers actually have the assets needed to back the stablecoins being held, and giving stablecoin holders priority recovery in the case of insolvency adds a significant layer of confidence. Q. How should advisors around the world look at US regulatory changes and the effect on their businesses and clients' money? A. There is finally some much-needed clarity emerging around how to approach digital assets for investment. No one wants to operate in a high-risk environment where there is the chance of sudden, unexplained losses. Degens may accept the risk of rug pulling, but institutional investors will not. This opens up digital asset investing to the mainstream. Q. Are there any categories of tokens that benefit more than others with the current administration A. Tokens which fit easily into institutional financial frameworks, and their underlying utility tokens, will benefit strongly from the continuing emergence of institutional adoption. Q. Are the regulatory changes around digital assets helping to guarantee investor safety? A. Frameworks are being established that are similar in nature to the protections offered to consumers in traditional banking, thereby helping to increase investor safety across the board. Privacy tokens may continue to face regulatory headwinds as enforcement agencies seek transparent reporting and accounting features to ensure compliance. - Unknown block type "divider", specify a component for it in the ` option Keep Reading Bitcoin reached a new all-time high of just over $123,000 this week. Ripple applies for Charter Bank License in U.S. U.S. federal agencies provided further clarifications for banks to offer crypto services and custody. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
