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  • Commercial Bank of Dubai (CBD) joins Dubai FinTech Summit as a Strategic Banking Partner | by BitMedia Buzz | Apr, 2024

    Commercial Bank of Dubai (CBD) joins Dubai FinTech Summit as a Strategic Banking Partner | by BitMedia Buzz | Apr, 2024

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    BitMedia Buzz
    InsiderFinance Wire

    Our PR partner, yourPRstrategist, is a proud media partner of the Dubai FinTech Summit, and we are pleased to extend their 10% discount to our community. Discount code: YPRS10

    The collaboration reinforces Dubai FinTech Summit and CBD’s shared commitment to strengthen the global financial ecosystem through innovation and knowledge exchange. The partnership will open doors to new opportunities for growth and development of the fintech sector.

    Dubai, U.A.E., April 8, 2024 — Commercial Bank of Dubai (CBD), one of the UAE’s leading national banks, has joined the Dubai FinTech Summit (DFS), organised by Dubai International Financial Centre (DIFC), the leading global financial centre in the MEASA region, as a Strategic Banking Partner, underscoring its dedication to supporting innovative and future thinking businesses on a global scale. The partnership agreement was signed in the presence of Arif Amiri, Chief Executive Officer and DIFC Authority, and Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, by Mohammad Alblooshi, Chief Executive Officer of DIFC Innovation Hub, and Ali Imran, Chief Operating Officer of Commercial Bank of Dubai.

    Commercial Bank of Dubai was the first bank to establish a Digital Lab at the DIFC Innovation Hub. Over the years, the bank has been playing a pivotal role in the development of a dynamic and technology-driven financial ecosystem, paving the way for a smarter, more connected financial future. Through strategic programs and initiatives such as the Buy Now, Pay Later (BNPL) solution by Postpay, CBD has been actively engaged in enhancing the overall payments sector aimed at accelerating the growth of the FinTech industry.

    “The Dubai FinTech Summit is creating a powerhouse of partnerships bringing together pioneers, thinkers and disruptors from around the globe who are shaping the future of finance. Our collaboration with Commercial Bank of Dubai is a testament to our shared dedication in cultivating an energetic and forward-thinking FinTech ecosystem. It not only amplifies Dubai’s stature as a premier hub for business but also paves the way for us to convert challenges into avenues of opportunity, as we continue to cultivate the most sophisticated, inclusive and tech-savvy financial community on the global stage,” said Arif Amiri, Chief Executive Officer at DIFC Authority

    Dr. Bernd van Linder, Chief Executive Officer at Commercial Bank of Dubai, said, “Commercial Bank of Dubai is thrilled to be a part of the Dubai FinTech Summit 2024, a global platform that brings together the brightest minds in the industry to shape the future of finance. Our participation in this event aligns with our commitment to innovation and our vision to be at the forefront of the FinTech revolution. As a forward-thinking bank, we place our customers at the heart of our business, constantly striving to provide them with innovative solutions that meet their evolving needs. We are proud to have signed an MoU as Strategic Banking Partner with Dubai International Finance Centre as part of our sponsorship partnership. We look forward to engaging in insightful discussions and exploring new opportunities for growth and collaboration.”

    In line with the D33 Agenda to position Dubai as the top four global financial hub by 2033, the 2nd edition of the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. It presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.

    The Dubai FinTech Summit, scheduled for May 6–7, 2024, at Madinat Jumeirah, Dubai, will see an unprecedented gathering of over 8,000 decision-makers, over 300 thought leaders and over 200 exhibitors showcasing cutting-edge technologies.

    Visitors can purchase tickets for the Dubai FinTech Summit 2024, with early bird prices ending soon.

    About Dubai FinTech Summit

    Dubai FinTech Summit is an annual mega event organised by the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region. The 2nd edition of the Dubai FinTech Summit will bring together over 8,000+ global industry leaders, 1,500+ investors, and policymakers, signaling increased appetite for growth opportunities in the region.

    Dubai FinTech Summit signals a new wave of financial innovation, opportunity, transformation, and growth for the international financial services sector. As a rising FinTech hub, Dubai is also spearheading the evolution of the financial services industry, with investments in FinTech projected to grow by 17.2% CAGR to USD 949 billion from 2022 to 2030. The summit aligns with the Dubai Economic Agenda D33’s strategic goal of propelling Dubai into the ranks of the top four global financial hubs by 2033.

    The expanded programme of Dubai FinTech Summit is set to exceed expectations by delving into key tracks, including the future of FinTech, embedded and Open Finance, climate finance, Web3 and digital assets. The summit stands as a thought leadership-driven platform, addressing industry challenges head-on and championing innovation.

    To register for the event, visit www.dubaifintechsummit.com.

    For further enquiries, please contact:

    Samia Ahmad

    Assistant Manager, Marketing

    DIFC Innovation Hub

    +971529980096

    E: samia.ahmad@difc.ae

    Shadi Dawi

    Director of PR & Strategic Partnerships

    Trescon Global

    +971 55 498 4989

    shadi@tresconglobal.com

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  • DigiThree Labs Joins Hands with LCX Exchange

    DigiThree Labs Joins Hands with LCX Exchange

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    In an effort to increase the security of users, DigiThree Labs and LCX recently announced a collaboration. Both companies have partnered to provide a formal Proof-of-Concept agreement.

    According to the details shared by LCX, the new partnership will enhance user security and will eventually play an important role in the growth of the digital asset ecosystem. Founded in 2018, LCX is a regulated platform for buying and selling of digital currencies.

    LCX highlighted the importance of a secure and efficient login procedure. The company added that it will pilot the DGMV Authenticator to secure its login procedures and safeguard passwords. LCX mentioned that the DGMV Authenticator is a highly secure authentication method based on blockchain technology.

    Monty Metger, CEO of LCX, said: “Security threats are rising, and phishing attacks are often targeting login details of users. That’s why we are excited to work with DigiCorp Labs to pilot the latest cyber security technologies and in particular the DGMV Authenticator.”

    LCX noted that the initial rollout will be in the second and third quarters of 2022. The exchange is headquartered in Vaduz with offices in Zug and New Delhi.

    Security

    With the growing popularity and user base of digital assets, exchanges have introduced several efficient methods in the past few years to increase the overall security of users in the crypto ecosystem.

    Jozua van der Deijl, CEO at DigiCorp Labs, said, “DigiCorp Labs is excited that LCX is taking user security very seriously, and we hope this sets an example for other exchanges to integrate DGMV Authenticator as an extra level of security on their platforms.”

    “With our consistent and friendly relationship with DigiCorp Labs, we are confident in the DGMV Authenticator and believe that it will digitally transform security in every industry,” the company added in the press release.

    In an effort to increase the security of users, DigiThree Labs and LCX recently announced a collaboration. Both companies have partnered to provide a formal Proof-of-Concept agreement.

    According to the details shared by LCX, the new partnership will enhance user security and will eventually play an important role in the growth of the digital asset ecosystem. Founded in 2018, LCX is a regulated platform for buying and selling of digital currencies.

    LCX highlighted the importance of a secure and efficient login procedure. The company added that it will pilot the DGMV Authenticator to secure its login procedures and safeguard passwords. LCX mentioned that the DGMV Authenticator is a highly secure authentication method based on blockchain technology.

    Monty Metger, CEO of LCX, said: “Security threats are rising, and phishing attacks are often targeting login details of users. That’s why we are excited to work with DigiCorp Labs to pilot the latest cyber security technologies and in particular the DGMV Authenticator.”

    LCX noted that the initial rollout will be in the second and third quarters of 2022. The exchange is headquartered in Vaduz with offices in Zug and New Delhi.

    Security

    With the growing popularity and user base of digital assets, exchanges have introduced several efficient methods in the past few years to increase the overall security of users in the crypto ecosystem.

    Jozua van der Deijl, CEO at DigiCorp Labs, said, “DigiCorp Labs is excited that LCX is taking user security very seriously, and we hope this sets an example for other exchanges to integrate DGMV Authenticator as an extra level of security on their platforms.”

    “With our consistent and friendly relationship with DigiCorp Labs, we are confident in the DGMV Authenticator and believe that it will digitally transform security in every industry,” the company added in the press release.

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  • Former CFTC chair Chris Giancarlo joins Digital Asset’s board

    Former CFTC chair Chris Giancarlo joins Digital Asset’s board

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    Chris Giancarlo, who served as chair for the U.S. Commodity Futures Trading Commission until 2019, will be joining the board of directors for blockchain startup Digital Asset.

    In a Tuesday announcement, Digital Asset said Giancarlo would be providing counsel on asset tokenization, distributed ledger technology, and the possible impact of regulatory developments on the crypto space. The former CFTC chair is currently working as senior counsel at the Willkie Farr & Gallagher law firm and co-founded the Digital Dollar Project, a non-profit organization aimed at generating data to inform U.S. lawmakers on developing a central bank digital currency, or CBDC.

    “We are on the precipice of a digital economic transformation that will necessitate safe and secure ways for businesses to interconnect and share assets,” said Giancarlo.

    During his time as CFTC chair, Giancarlo also served as a member of the U.S. Financial Stability Oversight Committee, the President’s Working Group on Financial Markets and the executive board of the International Organization of Securities Commissions. Many in crypto and blockchain referred to him as “Crypto Dad” for supporting digital assets during his five years at the CFTC, including overseeing the launch of regulated Bitcoin (BTC) futures and advocating for a “do no harm” approach to blockchain regulation.

    Giancarlo was replaced as chair by Heath Tarbert in July 2019, for whom current CFTC commissioner Rostin Behnam took over in 2021 as acting chair before being confirmed by the Senate in December. Though no longer serving in an official capacity for any U.S. government agency, the Crypto Dad was on the board of directors at BlockFi for four months in 2021, and recently joined blockchain investment firm CoinFund as a strategic advisor.

    Related: Chris Giancarlo: U.S. risks becoming ‘backwater’ without central bank digital currency

    Digital Asset has raised more than $300 million through funding rounds since its founding in 2014, most recently raising $120 million in a Series D financing round in April 2021. The firm has acquired firms in the crypto and blockchain space including Hyperledger, Bits of Proof, Blockstack and Elevence.