Bybit and Ghaf Labs Partner to Advance Web3 in MENA
The agreement outlines a multi year strategic partnership aimed at promoting cryptocurrency adoption, supporting the growth of the digital asset ecosystem, and exploring practical applications for blockchain technology across the region.
The partnership reflects a shared intention to support the development of the MENA region as a centre for Web3 innovation by encouraging regulatory clarity and facilitating the integration of blockchain in everyday life.
Ghaf Labs, supported by Ghaf Capital Partners, a Dubai based private capital firm focused on blockchain, provides advisory and incubation services to Web3 startups in the region.
With its network and understanding of the local regulatory landscape, the firm will work with Bybit to support the development of new projects.
Bybit and Ghaf Labs plan to offer equity free grants, startup assistance, and access to resources for ventures involved in blockchain, artificial intelligence, and sustainability.
These sectors are seen as central to the ongoing digital transformation in the region.
'Our partnership with Ghaf Labs is rooted in a shared vision for the MENA region, one where crypto is not just adopted, but lived,'
said Helen Liu, Chief Operating Officer and Partner at Bybit.
'From developer tooling to lifestyle integration, we are building the bridges that bring crypto into everyday life.'
The collaboration will also focus on education, with initiatives such as partnerships with universities, bootcamps, and hackathons designed to develop local talent in the Web3 space.
Educational content will be created in both Arabic and English to increase blockchain literacy across different communities in the region.
'This partnership with Bybit reflects our shared commitment to advancing Web3 infrastructure, education, and institutional engagement across the MENA region. Together, we aim to accelerate innovation and continue to position the UAE as a global hub for digital assets,'
said Feras Al Sadek, Co Founder and Managing Partner at Ghaf Labs.
In addition to development and education, the partnership includes real world applications of cryptocurrency, such as the Bybit Card, which links digital assets with services including hospitality and retail.
This includes collaborations with partners such as Grand Millennium Hotels in Dubai.
The two organisations also intend to support regional events such as The Crypto Polo Cup and Crypto Fight Night, which combine sports, luxury, and Web3 culture.
With the agreement in place, Bybit and Ghaf Labs will explore further opportunities in innovation funding, institutional use of blockchain, and applications across various sectors such as finance, hospitality, and education.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Campaign ME
18 hours ago
- Campaign ME
A new platform is launching in the region, Scene
Scene is a new platform designed for today's fast-scrolling audiences, delivering a new approach to Arab storytelling through micro-drama, and is launching this month. The application will be in Arabic and will have subtitles in multiple languages. The concept behind Scene aligns with the growing trend across various industries towards quick, impactful visuals such as Tiktok, Reels, and YouTube shorts. Nowadays, the average user spends around 4 hours per day scrolling across various social media platforms. Scene introduces a cinematic series crafted around 50 -episode arcs with each vertical episode just one minute long aimed towards a generation that's always on the move. With the average user now spending nearly four hours a day on social media, Scene aligns with the surging popularity of quick, impactful visual formats like TikTok, Reels, and YouTube Shorts. But unlike generic short-form content, Scene delivers tightly scripted drama, featuring your favorite celebrities alongside the region's freshest rising stars – all in Arabic with subtitles in multiple languages. Born in Lebanon, Scene is set to expand across the Arab world, turning a shared creative vision into reality. The platform is partnering with producers throughout the region to create premium, culturally resonant content that redefines storytelling for the mobile generation. Additionally, advertisers can choose to have their ads featured in-app between episodes, or partner with Scene's production team to create organic product placements that will blended within the storyline in a subtle and natural way.
Campaign ME
a day ago
- Campaign ME
Inside the strategy behind NFL's San Francisco 49ers' Middle East expansion
National Football League's (NFL) San Francisco 49ers hosted its first activation in Dubai this June, following the announcement in March that the major league professional sports team were granted activation rights in the UAE. The team hosted a flag football coaching session at GEMS World Academy Senior School, training more than 24 physical education teachers in the fundamentals of coaching flag football. The activation also included a youth flag football clinic for 30 students, aged 10-11 who enjoyed different NFL-themed practice drills and an introduction to flag tag. Sourdough Sam, the 49ers mascot made a special appearance to engage with the students and interact with fans. Stephanie Rogers, EVP of Marketing at the 49ers, discusses the team's regional entry strategy with Campaign Middle East after its latest activation. 'Seeking out this new opportunity in the UAE was driven by two main goals: growing the game of football, and expanding our global fanbase, the 49ers Faithful,' Rogers says. She describes the expansion into the UAE as a 'natural fit', noting that the Bay Area and the UAE share a similar drive for innovation, a focus on sustainability, and strong business and tourism sectors. 'As the first NFL team to activate on the ground in the UAE, we feel honored and excited to build something lasting within this community,' Rogers adds. A 360 marketing mix powered by social listening The team will utilise a multi-pronged approach to roll-out its marketing and media strategies in the new market. Its Middle East strategy is based on innovation, education, and historic impact. This includes 'combining in-person events like our first flag football clinic, with digital content and community initiatives,' Rogers explains. The team has already launched Arabic language social media accounts, and claims to be planning events like watch parties to bring the Levi's Stadium experience to fans in the Middle East. The San Francisco 49ers is also tailoring its marketing strategies to connect specifically with residents in the region. 'We have grown our international fanbases in the UK and Mexico by over 50 per cent but our strategy in the UAE will be uniquely tailored to its culture and people,' Rogers says. 'We're in a listening phase right now – meeting with fans, community leaders, and businesses to learn what resonates most.' 'We're also partnering with local experts like RISE Group to help us create authentic content and engagement that reflects the spirit of the community,' she adds. As its first major project since its acquisition by Elevate, the agency takes on expanding the team's fan base and corporate partnership footprint in the region, and growing interest in American and flag football. 'Whilst the news of the NFL opening up the UAE market is still relatively fresh, we've been working on a series of activations and events to engage, excite and delight all stakeholders in the region,' says Dave McCann, Partner RISE GROUP. 'These plans will primarily focus on three pillars; digital and social, in-person events, and community engagement programmes, with significant commercial partner opportunities blended in across all three. All activities will follow the strategic vision of growing the next international Faithful following,' McCann explains. He also says that 'RISE will be the driving force of the 49ers creative campaigns, by supporting the 49ers with a dedicated team to deliver against the franchise's objectives for the region.' This includes the 49ers' UAE social media, content, and fan events, alongside a dedicated schools programme. The team is also driving local partnerships and leveraging the team's global sponsors to connect with the region's growing NFL fanbase. View this post on Instagram A post shared by 49ers Foundation (@49ersfoundation) McCann also shares that through its use of Elevate's proprietary data platform, EPIC, the agency aims to leverage a host of local market insight and consumer data to help inform its strategy building for the NFL team. 'Our access to year-round data on consumer preferences, changes in fan behaviour and attitudes will help us develop campaigns that I'm sure will resonate best with consumers in the region,' McCann says. Creating long-term fan experiences The San Francisco 49ers say they are connecting with Middle East audiences, primarily in the UAE, through digital campaigns, in-person events, and youth engagement initiatives. 'With flag football's inclusion in the 2028 Olympics, the opportunity to build the sport and engage fans, especially young athletes, is bigger than ever. For us, this is about creating real community and impact,' Rogers says. This goes beyond traditional marketing, to embed the 49ers into the lives of sports fans in the UAE. 'With the support of the 49ers Foundation, which is the largest in the league, we're also looking to bring STEAM educational opportunities and inclusive sports programming for UAE youth,' Rogers explains. 'We have been warmly welcomed by the community and we look forward to building long-lasting relationships with future fans and partners here' she adds. 'Our commitment is not just about flag participation but about creating a journey for youth development. Across a combination of in-person events, digital activations and community initiatives, we aspire to share the storied history of the 49ers with the UAE.' Looking ahead, the team looks forward to collaborating with local partners that 'not only want to activate around the 49ers team, but are also excited to create impactful experiences like youth sports programming and unforgettable fan experiences,' Rogers says. 'We're committed to building a strong, lasting foundation here. The response has already been incredibly welcoming and we're excited to deepen our presence around the country,' she concludes.
Tahawul Tech
a day ago
- Tahawul Tech
Bybit helped contain crypto crisis after a hefty hack
Bybit, the world's second-largest cryptocurrency exchange by trading volume, has been featured in a new research report by Glassnode, the leading onchain market intelligence provider trusted by top-tier financial institutions worldwide. The findings highlight Bybit's unprecedented recovery rate and how the exchange's zero-time response helped contain a potential crisis, absorbing market shock that could have sent the crypto industry into a downward spiral. The comprehensive report, titled Digital Asset Market Resilience: A Deep Dive into the Bybit-Lazarus Hack, analyses the timeline, trading activity, and critical market data from February 2025's unprecedented cyber attack—the largest crypto hack in history at a hefty $1.4 billion—while benchmarking it against major disruption events across both the digital asset and traditional financial markets. Defying historical patterns of financial crises and crypto collapses, the industry's response to the Bybit-Lazarus hack heralds a new era of digital asset market resilience. Perpetual Open Interest and Volumes Recovery The report examined the performance of three key assets traded on Bybit: BTC, ETH, and SOL. A day after the hack on February 22, ETH open interest on Bybit experienced one of its most severe contractions on record due to widespread position unwinding and forced deleveraging. However, over the following two months, open interest changes turned predominantly positive, with most values returning to long-term averages and at times exceeding normal volatility thresholds. Both BTC and SOL followed a similar pattern to ETH's after the breach. According to the report, at the time of publication, all three had been restored to pre-hack levels, with BTC and SOL achieving significant milestones in May—BTC reached a new high in futures perpetual open interest at $8.5 billion, while SOL hit $1.2 billion. 'When examining perpetual trade volumes for the Ethereum asset, we observe stability in trading activity before and after the hack event, with volumes remaining largely unchanged. Additionally, following Ethereum's outperformance in recent weeks, trade volume on Bybit has surged, reaching a new all-time high of $8.5B/day, a remarkable milestone given that Ethereum was the primary asset targeted in the hack', wrote the analysts in the report. Narrowing Spreads: Liquidity Conditions Stabilised Following the hack, Bybit's deep liquidity—long considered one of its key competitive advantages—was challenged. Its market liquidity experiencing immediate stress as bid-ask spreads widened drastically and market depth contracted sharply. The phenomenon indicated widespread participant withdrawal during the period of uncertainty. The exchange completed a record 350,000 withdrawals within 12 hours after the breach. However, both metrics have shown steady recovery since mid-April, with bid-ask spreads returning to near pre-incident levels and market depth actually surpassing pre-hack values by May, signalling restored market maker confidence and normal trading conditions. Breaking the Crisis Pattern: Why the Bybit Hack Didn't Trigger Industry Collapse Instead of cascading into industry-wide panic and systemic pressure, the hacking incident left only a temporary dent in Bybit's liquidity before the exchange bounced back to pre-hack levels. To assess Bybit's operational stability, Glassnode developed a proprietary model based on two key indicators: Internal Reshuffling Ratio and Whale Withdrawal Ratio. Both metrics showed a period of post-hack spikes before returning to normal levels. The report attributed the prevention of market spillover to Bybit's 'swift operational response, transparent communication, and strong internal controls', which enabled the exchange to protect customer funds, maintain platform integrity, and contain contagion risk. The report adds to growing analytical literature on the historic hacking incident, whose aftermath demonstrated the industry's evolving resilience by avoiding systemic collapse seen in previous crises like FTX and Terra. Bybit not only contained potential market-wide damage but saw key assets reach new trading records, proving institutional-grade practices are now embedded in digital asset markets. This incident marks a pivotal shift in crypto's capacity to absorb major disruptions, potentially transforming investor confidence and accelerating industry maturation. To find out more about the report, users may visit Glassnode Insights. Image Credit: ByBit & Glassnode
