Latest news with #Dirham
Arabian Post
06-07-2025
- Business
- Arabian Post
ADX Ushers in MENA's First Blockchain‑Powered Bond
Abu Dhabi Securities Exchange has opened the pricing stage for the first blockchain-based digital bond in the Middle East and North Africa, issued by First Abu Dhabi Bank and powered by HSBC Orion, marking a significant leap in regional capital market innovation. Global investors will be able to participate through accounts at the Central Moneymarkets Unit in Hong Kong, Euroclear, Clearstream or via HSBC Orion, either directly or through existing custodians. The bond is structured to blend digital issuance with conventional post-trade systems, enhancing settlement efficiency while ensuring compatibility with international clearing and custody frameworks. ADX's Group CEO, Abdulla Salem Alnuaimi, described this as a defining moment in transforming capital markets through innovation, with the exchange facilitating integration of the bond into existing infrastructure and aligning it to global settlement standards. He added that the initiative paves the way for tokenised future assets such as green bonds, sukuk and real estate-linked instruments. ADVERTISEMENT FAB Group CFO Lars Kramer said the issuance establishes new benchmarks in transparency, security and efficiency, aligning with the UAE's progressive regulatory approach. He highlighted it as a vital step in FAB's innovation agenda and the development of a resilient digital capital market ecosystem. HSBC served as sole global coordinator, lead manager and bookrunner, utilising its Orion digital assets platform operated via Hong Kong's CMU. Mohamed Al Marzooqi, CEO UAE at HSBC Bank Middle East, emphasised the move as a realisation of tokenisation potential in the region, achieved through collaboration with ADX and FAB. The bond's pricing specifics—such as tenor, coupon and volume—have not been fully detailed publicly. However, analysts suggest it could be comparable with other tokenised debt instruments, such as those priced at SOFR+70 basis points with three-year maturity, reflecting institutional investor demand and digital bond issuance trends. This move follows earlier digital bond initiatives through HSBC Orion, including sovereign and supranational issuances. Such instruments highlight the platform's standing in enabling digital debt markets. The integration with CMU fortifies access to established global wholesale infrastructure by tying into Euroclear and Clearstream linkages. This strategic development positions Abu Dhabi as a regional leader in tokenised finance and digital capital markets. ADX aims to broaden its fixed-income offerings beyond traditional debt, offering investors digital bonds with advantages such as faster settlement times, reduced counterparty risk, enhanced transparency, and improved operational efficiency. FAB itself is active in blockchain ecosystems, exploring stablecoins and digital RMB. It plans to issue a Dirham stablecoin and participates in cross-border CBDC initiatives through platforms like mBridge, involving central banks of China, Hong Kong, Saudi Arabia, Thailand and the UAE. As the bond advances beyond pricing to final issuance, stakeholders will monitor investor appetite, compliance alignment and the degree of infrastructure uptake. The success of this transaction could set a template for future digital issuance in the region, reinforcing Abu Dhabi's vision of a diversified, tech‑driven capital market. Monitoring the transition from pricing to distribution and eventual listing on ADX will be critical. Observers will also assess whether digital issuance can tangibly reduce settlement durations, operational overheads and counterparty risk—fundamental value propositions of tokenised finance.
Arabian Post
04-07-2025
- Business
- Arabian Post
Digital Bond Breakthrough Sets Abu Dhabi Exchange Apart
The Abu Dhabi Securities Exchange has initiated the pricing phase for the MENA region's first bond underpinned by distributed ledger technology, marking a new era in regional capital markets. The fixed-income instrument, issued by First Abu Dhabi Bank via HSBC Orion, is set to be listed on ADX, promising enhanced operational efficiency, transparency and market access. ADX, the UAE's largest exchange and the second-largest in the Middle East and North Africa, is leading the effort to integrate tokenised financial instruments into its core infrastructure. The digital bond follows strategic collaboration among ADX, FAB and HSBC, combining regional reach with global digital issuance acumen. HSBC Orion, which powers the issuance, is operated by the Central Moneymarkets Unit based in Hong Kong. This platform supports settlement via links to Clearstream and Euroclear, allowing both traditional custody participants and direct digital‐platform users to access the bond. Legal structuring has involved top-tier international firms to ensure regulatory compliance and governance integrity. ADVERTISEMENT Abdulla Salem Alnuaimi, ADX Group chief executive officer, hailed the development as a critical milestone in embedding blockchain solutions into capital markets and supporting Abu Dhabi's digital transition. He emphasised that this issuance paves the way for tokenised green bonds, sukuk and real estate-linked assets. FAB Group CFO Lars Kramer highlighted the instrument's transformative potential, noting it advances the bank's digital strategy and provides investors with streamlined execution and settlement. He indicated that FAB is cementing its role as a pioneer in the region's digital asset ecosystem. Supporting voices from HSBC echoed the sentiment. Mohamed Al Marzooqi, CEO of HSBC Bank Middle East, said the step demonstrates how tokenisation can reshape capital markets in the Middle East, enhancing transparency, efficiency and investor access. HSBC will act as global coordinator, lead manager and bookrunner, underscoring its comprehensive involvement. Digital bonds, issued and recorded on blockchain, are designed to offer faster settlement cycles, reduced counterparty risk and improved security and transparency for institutional investors. ADX officials have emphasised that the exchange's post-trade systems are fully equipped to integrate with global settlement standards, ensuring interoperability and institutional confidence. HSBC Orion has quickly emerged as a prolific platform globally, having issued several digital bonds in the past year, including a Luxembourg treasury note and a €100 million bond by the European Investment Bank settled using CBDC. The FAB issuance leverages the platform's Hong Kong-based CMU operations, benefiting from its connections to Clearstream and Euroclear. FAB's digital ambitions extend beyond debt issuance. The bank is developing a Dirham stablecoin, has embraced China's digital RMB and is active in the mBridge cross-border CBDC initiative alongside central banks in China, Hong Kong, Saudi Arabia, Thailand and the UAE. These efforts underscore FAB's leadership in exploring blockchain applications across payments and capital markets. Market observers see ADX's move as aligning with the UAE's ambition to diversify its economy and enhance its position as a technologically advanced financial hub. Integrating DLT-based bonds into mainstream markets supports national objectives of transparency, resilience and growth. Institutional investors are expected to benefit from digital bonds through shorter settlement windows and simplified processes. Tokenisation can reduce manual reconciliation, lower operational cost, and establish immutable transaction records. Such innovations are gaining traction: ADX's listing follows a wave of global tokenised issuance, including recent bond sales via HSBC Orion. Looking ahead, the ADX platform lies poised to host a wider array of tokenised assets. ADX has flagged plans for green bonds, sukuk, and securitised property instruments — potentially transforming regional capital markets into a hybrid of traditional and blockchain-enabled finance. Global investors, whether viewing through conventional custodian channels or digital wallets, will have access to the bond via CMU, Euroclear, or Clearstream. Direct connection to HSBC Orion is also an option, ensuring flexibility in participation models. This dual-access framework is designed to attract both legacy institutional investors and early adopters of blockchain finance.
Gulf Today
12-05-2025
- Business
- Gulf Today
Mbank provides AED Escrow Account Services to Changer.ae clients enabling secure and regulated Dirham to crypto conversions
Gulf Network In a significant step toward bridging the gap between traditional finance and the digital asset economy, Mbank provides AED Escrow Account Services to clients enabling secure and regulated dirham to crypto conversions and trades executed at the platform. Through this service, customers can safely utilize a Dirham escrow account powered by Al Maryah Community Bank (Mbank), while all conversions between dirhams and crypto assets are executed by Mbank and have announced the launch of a unique Dirham-based crypto conversion service, including a fully regulated fiat escrow account in AED for crypto transactions. The announcement was made during TOKEN2049 Dubai, with Mohammed Wassim Khayata, CEO of Mbank and Board Member of and Wang Hao, Senior Executive Officer at in attendance. The Central Bank of the United Arab Emirates (CBUAE) has officially approved Mbank to open an AED Escrow Account for is a premium independent crypto custodian service and Virtual Asset Service Provider (VASP) licensed by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This approval enables secure and compliant holding of AED funds in escrow through Mbank's digital infrastructure, while the conversion of virtual assets and stablecoins such as USDT and USDC into AED is carried out by For customers, this means they can confidently and immediately convert their digital assets into local currency within a fully regulated and secure environment, eliminating the uncertainty and delays often associated with fiat, in on-ramp and off-ramp transactions. The service is entirely online, providing fast, transparent, and seamless access to funds, and allows individuals and businesses to manage crypto-to-fiat flows with ease, backed by Mbank's trusted digital banking platform. The cooperation between Mbank and enables individuals to exchange supported cryptocurrencies and stablecoins into AED via with the converted Dirham funds held securely in escrow by Mbank. It also provides businesses with the tools to operate transactions entirely within a regulated, blockchain-enabled system, with real-time access to fiat and crypto balances. Mr. Mohammed Wassim Khayata, CEO of Mbank and Board Member of stated: 'We are excited to offer this unique service to our customers, providing a seamless way to integrate Dirhams and crypto-related transactions with confidence. By providing AED Escrow Account Services to we ensure secure and regulated dirham to crypto conversions for Changer clients. This partnership with aligns with our mission to drive innovation in the UAE's financial ecosystem by offering regulated and secure financial infrastructure. The launch of this escrow account demonstrates the UAE's commitment to becoming a global crypto hub while maintaining the highest standards of security and regulatory compliance.' Mr. Wang Hao, Senior Executive Officer at said: 'At we are thrilled to bring this innovative product to the market in collaboration with Mbank. With the approval from CBUAE, we are enhancing our service offerings by providing a secure, reliable, and convenient way for customers to access crypto services. This product reflects our continued dedication to bridge the gap between traditional finance world and the rapidly growing world.' Mr. Tarek Soubra, Chief Technology Officer at Mbank, added: 'This new AED escrow account service is an exciting leap forward for both Mbank and By leveraging the safe and reliable crypto custody infrastructure and systems of developed in-house using the highest standards of security, reliability, and compliance without reliance on third-party Crypto custody platforms, and the seamless and straight through integration between the systems of Mbank and our customers benefit from a safe, fast, and transparent crypto-to-fiat experience. Customers can now convert their cryptocurrencies into AED through and then use their converted AED funds immediately and seamlessly, with Mbank holding the AED funds in escrow. Alternatively, Mwallet customers can now receive their converted AED funds immediately into their wallets and use them for any supported transactions or for immediate cash withdrawal, using Jaywan ATM card.' To find out more, visit
Arabian Business
07-04-2025
- Business
- Arabian Business
Dubai real estate surges as a new set of buyers eyes super-high returns on land investments
The land market is fast emerging as what industry players describe as the 'ultimate asset class' in Dubai for super-high investment returns, driven by a new set of buyers who bet on the city's evolving master plan and potential impact on long-term value, sector experts said. The demand for ready plots and off-plan land in prime districts is seeing a surge of late, with buyers securing land in key districts, positioning themselves to emerge as key players in Dubai's future landscape, eyeing to hit a jack in the medium-to-long-term, they said. Industry insiders said investing in plots in Dubai presents are increasingly seen as a strategic advantage for both individual investors and institutional buyers, with returns reaching up to triple-digit percentages in key locations. The plot segment is projected to emerge as a key wealth-generation vehicle for both regional and global investors, with prime land continuing to set new benchmarks. The growing momentum for plot investments is evident, with some of the leading real estate consultancies in the city – such as Springfield Properties – reporting multi-million Dirham investments in secondary market land sales in just the first ten days of Ramadan. 'Buyers are securing land in key districts with a clear, long-term vision – understanding that these locations are not just about prime real estate, but about positioning themselves in Dubai's future landscape,' Farooq Syed, CEO of Springfield Properties, told Arabian Business. 'The sustained demand for prime plots in Dubai also reflects a strategic shift among investors toward assets that offer both exclusivity and substantial capital appreciation,' he said. Senior executives at other leading real estate service providers also confirmed the rising demand for investments in plots in the city. Record land deals surge Among the deals involving plots in the first week of Ramadan were the AED100 million transactions in Al Wasl District, and an additional AED100 million in sales at The Oasis by Emaar, branded by The Address in secondary market land sales reported by Springfield Properties. The plot sales in Al Wasl District saw price-per-square-foot values reaching up to AED2,500, highlighting the area's resilience as a high-performing micro-market for prime land acquisitions, industry executives said. Unique Properties, a leading developer in Dubai's ultra-luxury real estate market, reported successfully closing a record-breaking residential land sale deal on Jumeirah Bay Island for $50 million (AED182 million) last week. The surging demand for land investments is also reflected in the AED9.6 billion plot sales registered in February across 608 transactions, posting a surge of about 75 per cent compared to the same year-ago period. Syed said the surging investments in the plot segment also underscore the strength of Dubai's off-plan market, where branded developments continue to attract buyers seeking both exclusivity and long-term capital appreciation. 'Dubai's real estate market has long been synonymous with high-value investment opportunities, but few segments offer the capital appreciation and wealth-generation potential of land acquisitions,' he said. Dubai real estate surge Sector experts said the trend of surging demand for investments in plots, along with the sustained momentum in the growth of the residential and commercial real estate sectors, enables Dubai to maintain its lead as one of the strongest-performing real estate markets globally. The sustained demand for plots also drives new benchmarks in both prime and emerging locations in the emirate, they said. The Springfield Properties chief executive said Dubia's ability to maintain this momentum is being driven by record-breaking population growth, continued inflows of international capital, and government-led infrastructure expansion. The emirate's real estate market has exhibited substantial growth in the first quarter of 2025, recording a total transaction value of over $31 billion (AED114.08 billion), a jump of more than 29 per cent from the same year-ago period, according to the latest analysis by Springfield Properties. Market projections suggest that property prices are expected to increase by 5 – 10 per cent throughout 2025, supported by the anticipated delivery of approximately 72,365 residential units.
CairoScene
28-03-2025
- Business
- CairoScene
The Dirham Now Has Its Own Official Symbol
The new Dirham symbol draws inspiration from the UAE flag. Mar 28, 2025 A dedicated symbol for the Dirham has officially been unveiled, aligning it with global currencies like the dollar ($), pound (£), and euro (€). The new Dirham symbol—a stylized "D" with two horizontal lines—draws inspiration from the UAE flag and marks a significant step in standardizing the national currency's identity. Announced by the Central Bank of the UAE (CBUAE), this move strengthens financial stability and reinforces the Dirham's global presence. Until now, the currency lacked a unified symbol, with abbreviations like AED, Dhs, and Dh used interchangeably. Beyond physical currency, the UAE is set to launch the Digital Dirham in Q4 2025, integrating blockchain technology for cross-border transactions, remittances, and digital payments—alongside the Digital Dirham Wallet. The UAE joins a growing trend of currency modernization, following Saudi Arabia's recent introduction of a symbol for the Riyal.
