Latest news with #GeorgeNaddaf
Web Release
21-05-2025
- Business
- Web Release
eToro enhances long-term investing offering with launch of recurring investments feature
Trading and investing platform eToro has enhanced its long-term investing offering for users in the UK, Europe and the UAE by enabling recurring investments. eToro users can now set up an automated repeat purchase of an asset at regular time intervals, helping users to consistently contribute towards their investment goals. By setting up a recurring investment plan, users can free up the time of placing manual orders. The new feature is available for stocks, ETFs, and cryptoassets. 'The launch of recurring investments is the latest example of eToro's commitment to expanding its long-term investing offering. The feature is designed to help investors reduce the impact of volatility by maintaining a consistent investment strategy, regardless of market fluctuations. By setting up regular buy orders as part of their budget, investors can consistently contribute towards their investment goals.' explains Tuval Chomut, Chief Solutions Officer at eToro. eToro's recurring investments feature is available to eligible users in the UK, Europe and the UAE. Initial investment starts from USD$25, with a maximum of USD$5,000 per transaction and $25,000 in total transactions per month. 'Recurring investments are a key addition to our long-term investing offering, making it easier for users to build disciplined, sustainable strategies over time. This feature gives investors in the UAE a simple, automated way to stay consistent – no matter what the markets are doing. It's another step forward in our mission to give people the tools they need to grow their wealth.' said George Naddaf, Managing Director MENA, eToro. The addition of recurring investments is one of several recent launches from eToro. The platform has also unveiled a range of new portfolio tools designed to help users diversify and make more informed investment decisions. Recurring investments will also be available for stocks listed on the Abu Dhabi Securities Exchange and the Dubai Financial Market.
Khaleej Times
20-05-2025
- Business
- Khaleej Times
New fintech trends reshape digital finance as cryptos gain traction
The global cryptocurrency landscape is undergoing a seismic transformation, driven by fintech innovations such as blockchain, decentralised finance (DeFi), artificial intelligence (AI), and central bank digital currencies (CBDCs). At the heart of this revolution, the UAE has emerged as a global leader, leveraging progressive regulations, a tech-savvy population, and strategic government initiatives to redefine the role of digital assets. With a projected fintech market value of $3.56 billion by 2025 and $6.43 billion by 2030, the UAE is not only a regional powerhouse but also a global model for harmonising innovation with regulatory trust, offering lessons for economies worldwide. The global embrace of cryptocurrencies is accelerating, with over 60% of financial institutions exploring blockchain solutions for enhanced transparency and efficiency, according to Deloitte. Major corporations and banks are integrating crypto services, signaling confidence in digital assets as they transition from speculative investments to mainstream financial instruments. In the UAE, this trend is amplified by a 210% surge in crypto adoption in 2025 — the highest globally — driven by user-friendly platforms and growing retail participation, evidenced by a 41% increase in crypto app downloads in 2024. The UAE's rise as a top-10 global crypto hub is underscored by $30 billion in crypto investments in 2024, fuelled by its business-friendly environment. Major exchanges and fintech startups are flocking to Dubai and Abu Dhabi, attracted by tax incentives, low startup costs, and free zones like the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM). 'Fintech isn't just changing finance in the UAE — it's redefining how and where investors make decisions,' says George Naddaf, managing director of eToro Mena. With 39.1% of UAE residents expected to use crypto by 2025, the nation is on track to realise its vision of a cashless, blockchain-powered economy. The UAE's regulatory framework is a cornerstone of its crypto success. The Dubai Virtual Assets Regulatory Authority (Vara) and ADGM's DLT Foundations Regulation provide legal clarity, fostering trust among investors and businesses. Vara's comprehensive licensing framework has attracted global players, while ADGM's regulations support blockchain innovation. 'The UAE's regulatory sandboxes allow fintechs to test AI-driven solutions safely,' notes Nadeem Ladki, Global Head of Bitpanda Technology Solutions. This balance of innovation and oversight contrasts with regions like China, where stringent policies stifle growth, or Singapore and Switzerland, which also promote progressive frameworks but lack the UAE's rapid adoption rates. Regulation remains a double-edged sword globally. As Chris Brummer, a fintech law professor at Georgetown University, observes, 'Regulators are walking a fine line between protecting consumers and allowing innovation to flourish.' The UAE's approach—clear guidelines without stifling creativity —has created a stable environment, encouraging startups and established firms to innovate. In 2024, UAE-based startups raised $1.1 billion across 207 deals, leading the Mena region and fueling advancements in blockchain and AI. DeFi is revolutionising traditional banking by offering intermediary-free lending, borrowing, and trading. Globally, the total value locked in DeFi protocols exceeds $150 billion in 2024, with platforms like MakerDAO and Compound leading the charge. 'DeFi democratizes access to financial services, providing an alternative to the often exclusionary traditional banking system,' says blockchain expert Laura Shin. In the UAE, DeFi adoption is growing, supported by regulatory sandboxes that allow fintechs to test decentralized solutions. The UAE's focus on financial inclusion aligns with global trends, particularly in emerging markets where 1.7 billion adults remain unbanked, according to the World Bank. Mobile-based crypto platforms are bridging this gap, and the UAE's tech infrastructure positions it to lead in mobile DeFi solutions. By integrating DeFi with its Digital Dirham, the UAE aims to enhance accessibility and reduce transaction costs, particularly for underserved communities. The UAE is at the forefront of CBDC development with its Digital Dirham, set to launch in Q4 2025. This blockchain-based currency will streamline cross-border payments, enhance financial inclusion, and combat financial crime, according to Khaled Mohamed Balama, Governor of the Central Bank of the UAE. The Digital Dirham enables innovative products like conditional payments and fractional asset ownership, unlocking liquidity in real estate and commodities. With 10% of global GDP projected to be tokenized on blockchain by 2027, the UAE's CBDC positions it as a leader in this transformative shift. Globally, CBDCs are gaining traction as governments seek to modernize financial systems. The UAE's proactive approach contrasts with slower adoption in some developed economies, offering a blueprint for integrating CBDCs with private-sector innovation. The Digital Dirham's ability to automate complex transactions, such as multi-party settlements, enhances the UAE's appeal as a fintech hub. Artificial intelligence is reshaping fintech by improving fraud detection, regulatory compliance, and customer personalisation. The UAE's 'Universal Blueprint for AI' aims to position Dubai as a global AI hub, with initiatives like DIFC's AI and Web3 incubator fostering innovation. AI-powered analytics are critical for real-time fraud prevention in crypto transactions, and the UAE's regulatory sandboxes provide a safe space for testing these solutions. Globally, AI is enhancing blockchain scalability and privacy. Layer 2 solutions like Optimism and Arbitrum address transaction speed and cost issues, making crypto viable for everyday use. In the UAE, AI-driven compliance tools are helping fintechs navigate VARA's regulations, ensuring secure and efficient operations. This synergy of AI and blockchain is a key driver of the UAE's fintech growth, projected at a 12.56% compound annual growth rate through 2030. The rise of non-fungible tokens (NFTs) and metaverse integrations is creating new digital economies. Platforms like OpenSea and Decentraland enable users to monetise virtual assets, a trend gaining traction in the UAE's tech-savvy market. The UAE's investment in Web3 technologies, supported by DIFC's incubator, positions it to lead in these emerging spaces. NFTs and metaverse applications are expanding crypto's utility beyond finance across the globe, with the UAE poised to capitalise on this shift through its innovation-friendly ecosystem. The UAE's fintech surge is reshaping its economy, with a robust project pipeline and government policies attracting foreign direct investment. Arif Amiri, CEO of DIFC, highlights the UAE's dynamic ecosystem — featuring an independent regulator, efficient judicial system, and international stock exchange — as a springboard for fintech expansion. The country's competitive edge, including low startup costs and business-friendly free zones, is driving a startup boom, with fintechs leading regional and global innovation. Fintech is a key driver of financial inclusion and stability, as noted by Christine Lagarde, President of the European Central Bank. The UAE's model demonstrates how innovation can coexist with regulatory safeguards, ensuring resilience. By prioritising education and accessibility, as emphasised by eToro's Naddaf, the UAE is sustaining its crypto momentum, with nearly 40% of residents projected to adopt digital assets by 2025. Despite its successes, the UAE faces challenges, including the need to balance regulation with innovation and address cybersecurity risks in crypto transactions. Globally, geopolitical tensions and varying regulatory approaches — such as China's crackdowns — highlight the complexities of crypto adoption. The UAE's proactive stance mitigates these risks, but ongoing investment in cybersecurity and regulatory adaptability will be crucial. Looking ahead, the UAE's fintech leadership offers a roadmap for other economies. By integrating AI, DeFi, CBDCs, and Web3 technologies, the country is setting a benchmark for digital finance. As Nick Cooke, CEO of Atmos, notes: 'In the UAE, crypto drives a fully digitised economy.' With global fintech evolving rapidly, the UAE's ability to harmonise innovation, regulation, and consumer adoption positions it as a beacon for the future of cryptocurrency.
Arabian Business
08-05-2025
- Business
- Arabian Business
eToro integrates UAE PASS to speed up user onboarding
Trading and investing platform eToro has integrated UAE PASS, the United Arab Emirates' national digital identity solution, into its onboarding process, in a move to streamline account creation and enhance user verification for customers in the UAE. The new feature allows UAE residents to register on eToro using the UAE PASS mobile app, enabling automatic retrieval of verified Proof of Identity (POI) and Proof of Address (POA) data. According to the company, this eliminates the need for manual document uploads, accelerating the onboarding process and bolstering security. UAE PASS simplifies registration 'This is a major milestone in simplifying the onboarding experience and advancing in our vision to open the global markets for everyone to trade and invest in a simple and transparent way,' said George Naddaf, Managing Director at eToro MENA. 'By integrating a trusted local identity solution, we're removing key friction points and adding another layer of trust and convenience for our UAE community.' The integration comes as the UAE continues its rapid transition toward digital-first financial services. A survey commissioned by eToro and conducted by research firm Appinio found that 87 per cent of UAE retail investors currently use fintech platforms to manage their finances. Of those, 26 per cent rely solely on fintech providers, while another 36 per cent conduct the majority of their financial activities through such platforms. The survey, conducted between November 27 and December 2, 2024, sampled 1,000 retail investors residing in the UAE. Respondents were defined as individuals who are either self-directed or advised and hold at least one investment product. eToro said the UAE PASS integration is part of its broader localisation strategy in the region. Previous initiatives have included the launch of an Abu Dhabi office and the addition of stocks listed on the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) to its platform. Launched as a joint initiative by the Telecommunications and Digital Government Regulatory Authority (TDRA), Abu Dhabi Department of Government Support and Digital Dubai, UAE PASS serves as the country's unified digital identity. The app enables secure access to services across government, semi-government and private entities and supports digital signatures and authentication of official documents. In 2019, the UAE Central Bank endorsed UAE PASS for use within the financial services sector. The latest phase of UAE PASS development incorporates blockchain technology and allows users to request digital versions of official documents, further reducing the need for physical paperwork and in-person verification.
Zawya
08-05-2025
- Business
- Zawya
EToro integrates UAE PASS streamlining user onboarding in the UAE
Abu Dhabi – eToro, the trading and investing platform, has announced the integration of UAE PASS, the UAE's national digital identity platform, into its onboarding process, further localizing its product for the UAE market. This new feature allows UAE-based users to register on eToro using the UAE PASS app, which pulls verified Proof of Identity (POI) and Proof of Address (POA) directly from the government's digital identity system. It simplifies the verification process significantly, enabling faster account creation, enhanced security, and a smoother experience for new users. George Naddaf, Managing Director at eToro MENA, said: 'This is a major milestone in simplifying the onboarding experience and advancing in our vision to open the global markets for everyone to trade and invest in a simple and transparent way. By integrating a trusted local identity solution, we're removing key friction points and adding another layer of trust and convenience for our UAE community.' The integration comes at a pivotal time in the UAE's fintech evolution. According to a recent survey by eToro, 87% of UAE retail investors now rely on fintech platforms to manage their finances. Additionally, 26% use only fintech providers, while 36% use them for the majority of their activity, reflecting the country's rapid shift toward digital-first financial solutions. This initiative adds to eToro's broader localization initiatives in the region, including the opening of its Abu Dhabi office, the addition of stocks listed on the Abu Dhabi Securities Exchange and Dubai Financial Market – all aimed at providing a tailored, relevant experience for investors in the UAE and across the MENA region. The survey, commissioned by the trading and investing platform eToro, sampled 1,000 retail investors residing in the UAE. It was conducted from 27th November to 2nd December 2024 and carried out by research company Appinio. Retail investors were defined as self-directed or advised and had to hold at least one investment product, including shares, bonds, funds, investments, or equivalent. They did not need to be eToro users. About eToro: eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have 40 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we've created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media centre here for our latest news. About UAE PASS UAE PASS is the first national digital identity for citizens and residents of the UAE. The app enables all registered individuals to access government, semi-government and private sector entities' services through their respective websites and apps, and allows them to digitally sign and authenticate documents and transactions. UAE PASS also enables users to request a digital version of any official documents issued to their name. UAE PASS was launched as a joint initiative between the Telecommunications and Digital Government Regulatory Authority (TDRA), Abu Dhabi Department of Government Support and Digital Dubai. It is also supported by key strategic partners including the Ministry of Interior, Federal Authority for Identity, Citizenship, Customs & Port Security, the Dubai Electronic Security Center, and all the digital authorities of the respective seven emirates of the UAE. In September 2019, the UAE Central Bank adopted the UAE PASS initiative allowing the financial sector around the UAE to use it in processing different transactions. In order to enhance UAE PASS further and as part of the second implementation phase, UAE PASS now also enables users to request a digital version of their official documents, and to use them securely, to execute transactions and avail services from service providers in the private sector when needed. This feature eliminates the need for paper and physical visits, saving you time and effort. It is also powered by block chain technology, providing you with optimal traceability and security.
Zawya
15-04-2025
- Business
- Zawya
UAE retail investors can now trade Chinese and Asian equities on eToro
Dubai, United Arab Emirates - In response to growing demand from retail investors for greater access to Asian markets, trading and investing platform eToro has announced the phased rollout of all Hong Kong Stock Exchange (HKEX)-listed stocks and exchange-traded products (ETPs) to its platform. These include exchange-traded funds (ETFs) as well as Leveraged and Inverse Products (L&I Products). Investors will also benefit from high-quality, real-time pricing data provided by HKEX. George Naddaf, Managing Director MENA, eToro commented, 'The Hong Kong Stock Exchange is one of the world's leading financial hubs – a gateway between China and international markets, home to some of the largest and most innovative companies in Asia. With this new addition, UAE investors can now access a broader range of Chinese and Asian equities directly on the eToro platform. This expansion enhances our already diverse market offering and reinforces our commitment to making global investing more accessible. In an environment of global uncertainty, it provides a timely opportunity for UAE-based investors to diversify beyond traditional US-heavy portfolios and tap into Asia's long-term growth potential.' This development will vastly enhance access to Chinese and other Asian equities on the eToro platform, broadening investment opportunities for eToro's users globally. Yossi Brandes, VP of Execution Services at eToro, said: 'At eToro, our mission is to make global markets more accessible to everyone, which is why we have enabled access to more than 20 stock exchanges. By expanding our stock and ETP offering to include more companies listed on HKEX – one of the world's top ten stock exchanges by market capitalisation – we are further strengthening this commitment, providing investors with access to leading Chinese and international companies. This underscores our dedication to continuously enhancing our product suite, ensuring we meet the evolving needs of investors both globally and locally.' Winnie Sin, Head of Data Business, Platform & Market Structure Development at Hong Kong Exchanges and Clearing Limited said: 'We are delighted to work with eToro to bring the dynamic opportunities of our market to the international investor community. This collaboration will enhance retail investors' access to the Hong Kong market and empower their decision-making with high-quality market data. With our unique role as the superconnector between Mainland China and the rest of the world, we are dedicated to enhancing capital market channels, products, and partnerships, thereby reinforcing our position as the leading platform that connects capital with opportunity.' The inclusion of HKEX- listed instruments further strengthens eToro's global equities offering, enabling users to trade assets from over 20 stock exchanges through a single platform. Earlier this year, eToro added Abu Dhabi Securities Exchange (ADX) stocks, providing investors with access to over 30 leading UAE companies across diverse sectors, including energy, real estate, banking, finance, technology and healthcare. The addition of HKEX continues this momentum - thereby broadening investor access to key global markets across Asia and Middle East. About eToro: eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have over 38 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we've created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media centre here for our latest news.
