Digital Assets

Partnership between RAKBANK and Bitpanda for Digital Asset Management in UAE

Monday. August 19 at 3:30 PM

1 min. read

The National Bank of Ras Al Khaimah (RAKBANK), a government-owned bank in the United Arab Emirates (UAE), has collaborated with crypto infrastructure provider Bitpanda Technology Solutions to establish a digital asset management platform for UAE residents. RAKBANK views digital assets positively, considering them as the 'future.' Dongjun Choi, RAKBANK’s group chief customer officer, emphasized the need for a regulated banking platform for digital assets. The partnership, although announced, is pending approval from the Central Bank of the UAE. This initiative aims to bridge the gap in the market and provide customers with a wider range of digital asset opportunities. By partnering with Bitpanda, RAKBANK avoids the need to develop an in-house digital asset infrastructure. The collaboration aligns with RAKBANK’s goal of pioneering crypto innovation in the UAE, following the announcement of a dedicated free-trade zone for digital assets in Ras Al Khaimah (RAK) in February 2023.

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US President Biden Signs Executive Order to Boost AI Infrastructure

Wednesday. January 15 at 6:00 PM

US President Joe Biden, set to depart on Jan. 20, has issued an executive order to encourage the private sector in constructing AI infrastructure. The order aims to advance US leadership in AI infrastructure by directing the Department of Defense and the Department of Energy to lease federal land for private companies. This partnership between the government and industry is intended to ensure the US remains at the forefront of the AI era. The order mandates the use of US-made semiconductors at federal sites and allows oversight of private sector developers creating AI models on-site. This is Biden's 157th executive order since taking office in 2021 and the eighth in 2025. The move follows Biden's proposal to restrict semiconductor sales to foreign nations, which faced criticism from industry leaders for potentially harming US competitiveness. Biden's successor, President-elect Donald Trump, is expected to address crypto-related issues upon taking office.

Digital Assets

Metaplanet Inc. Plans to Expand Bitcoin Holdings by 470% in 2025

Monday. January 6 at 3:00 AM

Metaplanet Inc., a Tokyo-based investment firm, is set to increase its Bitcoin holdings by 470% in 2025, aiming to reach 10,000 BTC. CEO Simon Gerovich announced the company's strategy to utilize capital market tools for expansion after a successful year in 2024. With current holdings of 1,761.98 BTC, valued at 27.2 billion yen, Metaplanet plans to continue its rapid accumulation of Bitcoin. The company's acquisition pace surged between October and December 2024, with BTC Yield reaching 310% by the end of the year. Metaplanet restructured its shares in preparation for increased Bitcoin purchases, securing additional funds through bond sales and a rights offering. The firm's ambitious growth target aligns with predictions of rising Bitcoin prices in 2025, driving institutional interest in cryptocurrency investments.

Digital Assets

The Role of Blockchain in Digital Identity Management

Tuesday. December 24 at 4:00 PM

The emergence of digital identity management has revolutionized online interactions, presenting challenges in security, privacy, and trust. Blockchain technology is increasingly becoming a fundamental aspect of these solutions, offering decentralized, transparent, and secure frameworks for managing identities. Sebastian Rodriguez, Chief Product Officer at Privado ID, discusses blockchain's significance in digital identity solutions, emphasizing self-sovereign identities (SSI) that empower users to control their data and ensure privacy. By decentralizing data management, blockchain eliminates reliance on centralized institutions, embedding trust within the technology itself. Privado ID utilizes advanced cryptographic techniques like Zero-Knowledge Proofs to ensure data privacy and trustless identity verification processes. Despite facing adoption limitations, blockchain-based digital identity systems are projected to grow significantly, transforming how we interact and transact online while prioritizing privacy, security, and user experience.

Digital Assets

Nokia Seeks Patent for Digital Asset Encryption in Blockchain Move

Tuesday. December 24 at 6:00 AM

Nokia has applied for a patent to encrypt digital assets, signaling a shift towards blockchain technology. The patent, filed in June 2024 under CN119155674, involves using a key to secure data versions of assets, assigning them an index for network use, and linking them to entities. This move expands Nokia's focus beyond telecommunications to emerging sectors. Despite losing ground in mobile phones, Nokia remains a tech leader with a vast patent portfolio. The company plans to develop network architectures for blockchain, AI, and IoT, anticipating a 22-25% growth in demand by 2030. Nokia's 5G-powered digital factory twins demonstrate real-time data optimization. Experts predict that advancements in semiconductors, AI, and metaverse tech will revolutionize global challenges. Oluwapelumi and AJ provide insights on crypto topics, emphasizing its transformative potential. Readers are advised to conduct their own research before engaging in cryptocurrency activities.

Digital Assets