MENA headlines

Dubai’s VARA becomes world’s first regulatory authority to enter metaverse

Dubai’s Virtual Assets Regulatory Authority (VARA) announced its entry into the metaverse with the establishment of its metaverse headquarters in the dynamic virtual world of ‘The Sandbox’.

As the world’s first Regulator to make its debut in the metaverse, VARA seeks to ensure that the regulator is accessible to its industry in their environment, and facilitate collaborative engagement between global Virtual Asset Service Providers (VASPs), industry thought-leaders, and international regulatory authorities.

Dubai World Trade Centre launched MetaIncubator

The first metaverse incubator in the Middle East, the Ministry of Health and Prevention (MoHAP) has developed a new metaverse platform, allowing people to access medical care and receive health-related support virtually. 

UAE’s Real Estate Giant, Damac, now accepts payment in BTC and ETH 

Damac Properties has announced it would begin accepting crypto as payment for the purchase of its properties. The luxury real estate developer said it would accept payment in Bitcoin and Ethereum as part of its ongoing digitization efforts and of its growing focus on the crypto sector.