BlockByBlock | $600 Million In DIFC
The DMCC pledges $5 million to blockchain. FLUUS raises $600K. MENA startups raise $103 million. DIFC's investment exceed $615 million in 2022.
In This Week’s Issue
⚡ The DMCC partners with Digital Wave Finance Labs to create a $5 million growth platform for blockchain businesses at the Dubai Crypto Center.
💸 FLUUS, a crypto payment startup founded by MENA crypto enthusiasts, raises $600,000 from FHS Capital, Base 64 and angel investors.
🚀 MENA startups raised $103 million in January 2023, 90% of which came from the UAE.
💥 EXCLUSIVE: The CEO of Playtreks, a one-on-one marketplace for self-releasing artists and disruptive record labels, provides BlockByBlock with an exclusive interview in the new 60 Seconds Around The Block startup series.
Local Developments
Blockchain Movements In The GCC 👇
The DMCC partners with Digital Wave Finance Labs to create a $5 million growth platform for blockchain businesses at the Dubai Crypto Center.
Yat Siu, cofounder of Animoca Brands, pledges “tens of millions of dollars” to the Middle East’s blockchain and cryptocurrency communities.
Investments in DIFC’s Fintech and innovation community exceeded $615 million and the number of active firms increased 36% to a total of 686 in 2022.
“I’m confident that the Dubai FinTech Summit, organized by DIFC, will soon become the premier platform allowing us to capture the industry’s attention and fulfil our vision of making Dubai a new home for the future of FinTech and finance,” said Mohammed Ablooshi, Head of DIFC Innovation and Fintech Hub.
60 Seconds Around The Block
About The Interviewee 🗣️
Anjo De Heus is the CEO of Playtreks, an all-in-one workspace for self-releasing artists and disruptive record labels. Playtreks allows artists to protect, distribute and monetize their music. Their Music NFT marketplace acts as a bridge to web3, advocating music monetizing and engaging with fans using next-generation technology like music NFTs.
Updates From The Startup Ecosystem 💸
Updates From The Startup Ecosystem 💸
FLUUS, a crypto payment startup founded by MENA crypto enthusiasts, raises $600,000 from FHS Capital, Base 64 and angel investors.
SkyBridge Capital, a global alternative investment firm, and Al Maskari Holding, the privately owned holding company of the Al Maskari portfolio, announce a partnership with Casper Labs, a leading enterprise blockchain software and services provider.
Inacta Group, an IT solutions provider with a focus on blockchain-based business models, and Roland Berger a global strategy consulting firm, announce a collaboration on several joint Web3 projects.
Startup Spotlight 💡
Fluus (فلوس), the Arabic word for money, is a fitting name for the project on a mission to onboard the next 1 billion users to the Web3 economy. The company is founded by Tey ElRujla, a seasoned blockchain executive who pioneed Tykn, a project that leveraged blockchain’s immutability to secure digital identities and authentications.
Tykn holds an inspiring story in the world of blockchain. Amongst many other corporate functions, it helped refugees gain a hold of their identity. Now, ElRujla is pairing his expertise with a small but adept blockchain team to make Fluus a global hub for cryptocurrency.
Fluus is available across 180 countries, 100 fiat currencies, 200 cryptocurrencies, 75 blockchains and over 28 cash & mobile money applications.
“By providing a solution for crypto users as well as developers, we believe that we will sustainably and continuously onboard users into the Web3 economy worldwide and especially in emerging markets,” the Fluus website says.
Click here to find out more.
Blockchain Trends
Global Trends 📉
Jack Dorsey’s decentralized Twitter rival enters the app store.
India tests its recently launched central bank digital currency (CBDC) for offline functionality.
The market capitalization of Binance’s stablecoin, BUSD, plummets 43% in 30 days.
A Wallstreet Journal report finds that Tether used fake documents to open bank accounts.
Local Trends 📈
MENA startups raised $103 million in January 2023, 90% of which came from the UAE.
Upcoming Events
Events By AgoraGroup 🔴
AgoraGroup will host the Global Blockchain Congress (11th Edition) on March 6th and 7th in Dubai, the UAE.
Events Across The UAE 🔵
Crypto Expo Dubai will be hosted on March 8th and 9th in Dubai, the UAE.
The Future Blockchain Summit will be hosted between October 17th and October 20th in Dubai, the UAE.
Blockchain Economy will be hosted between October 2nd to October 5th in Dubai, the UAE.
AIBC will be hosted between March 13th and 16th in Dubai, the UAE.