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CoinDCX’s Okto wallet secures operational license in UAE free zone

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In a significant development for the Web3 ecosystem, OKTO Wallet has been granted a regulatory license by the United Arab Emirates (UAE) authorities. This move marks a pivotal moment for the company, as it aims to enhance its presence and drive adoption in the rapidly evolving Web3 space.

The UAE’s Financial Services Regulatory Authority (FSRA) has officially approved OKTO Wallet, enabling it to operate under the region’s stringent regulatory framework. This license not only solidifies OKTO’s commitment to compliance and security but also positions it as a key player in the burgeoning Web3 market.

With this approval, OKTO Wallet plans to expand its services and functionalities, catering to the growing demand for decentralized financial solutions. The UAE has been actively fostering a favorable environment for blockchain and cryptocurrency innovations, and this license aligns with its broader strategy to become a global hub for digital assets.

The introduction of OKTO Wallet into the UAE market is expected to drive further adoption of Web3 technologies, providing users with enhanced access to decentralized applications and financial services. The company’s robust security measures and innovative features are anticipated to set new standards in the industry.

As the Web3 landscape continues to evolve, the endorsement from UAE regulators underscores the region’s commitment to embracing cutting-edge technologies while ensuring regulatory compliance. OKTO Wallet’s entry into this dynamic market represents a significant milestone in the ongoing development of the digital financial ecosystem.

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Binance launches in Syria after Trump lifts sanctions

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Binance has signaled interest in expanding its services to Syria following a recent move by former U.S. President Donald Trump to lift certain economic sanctions. The easing of restrictions has opened the door for global businesses, including cryptocurrency platforms, to re-evaluate their presence in the region.

A Binance spokesperson confirmed that the company is exploring opportunities in Syria and may extend support to local users. The development marks a potential shift in crypto accessibility for a country that has long faced economic isolation due to international sanctions.

Although no formal launch has been announced, the move suggests that Binance is preparing to tap into an underserved market. The company emphasized that it will continue to monitor regulatory guidelines while assessing how best to engage Syrian users within legal frameworks.

The renewed interest in Syria reflects broader efforts by crypto firms to expand globally amid shifting geopolitical and regulatory dynamics. If Binance proceeds, it could become one of the first major crypto platforms to reenter the Syrian market in years.

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GameStop plunges 12% after proposing new $1.75B debt offering

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GameStop’s stock dropped 11% after the company revealed plans to offer $2.14 billion in convertible notes, sparking investor concerns about potential dilution. The market reacted sharply to the move, which could lead to an increased share count if noteholders opt to convert their holdings into equity.

The company stated that the proceeds will be used for general corporate purposes, which may include acquisitions and investments. Convertible notes provide flexibility for companies, but often trigger negative investor sentiment due to the future possibility of share dilution.

The timing of the announcement came just as GameStop was enjoying renewed attention from retail investors, particularly following the reappearance of “Roaring Kitty,” a central figure in the 2021 meme stock frenzy. That momentum was quickly undercut by fears surrounding the fundraising effort.

GameStop’s latest financial strategy highlights its continued attempts to adapt and remain relevant in a changing retail landscape. However, the negative market reaction reflects ongoing uncertainty over the company’s ability to convert hype into sustained performance.

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Peaq and UAE bet on tokenized machines to power future economy

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The United Arab Emirates has introduced a new regulatory sandbox dedicated to advancing the machine economy, in collaboration with blockchain network peaq and Web3 data platform Pulsar. The initiative is backed by the country’s Artificial Intelligence, Digital Economy and Remote Work Applications Office and is aimed at supporting decentralized physical infrastructure networks (DePINs).

The sandbox offers a controlled environment where projects involving autonomous vehicles, delivery drones, and smart city applications can be tested and scaled. Developers will be able to deploy real-world use cases involving connected devices while benefiting from regulatory guidance and technical support.

Participants in the program will receive resources such as funding opportunities, mentorship, and access to strategic partners, enabling them to refine and expand their technologies. The initiative reflects the UAE’s continued efforts to lead in Web3 innovation, artificial intelligence, and future-driven economic models.

By fostering projects that combine AI, blockchain, and IoT, the UAE seeks to attract global startups to build the foundations of a decentralized machine economy. The sandbox is expected to drive real-world adoption of DePIN technologies across transport, infrastructure, and smart services sectors.

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