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French crypto investment, trading and treasury company Davensi has according to UAE based W3C an advisory and legal consulting firm, received an in principle approval from Dubai’s Virtual Asset Regulatory Authority. While still not listed on VARA’s website W3C on LinkedIn announced that they supported Davensi throughout its VARA licensing journey. The post added that this was part of Davensi’s regulated expansion plan into the UAE.

Standard Chartered’s CEO Bill Winters revealed that the bank’s tokenized deposit volumes have reached around $11 billion in monthly run rate, “primarily from the e-CNY cross-border settlements on mBridge and our multicurrency work with various clients,” he said during the bank’s Q2 earnings call. The bank has been among the most forward leaning of systemically important institutions, having set up Zodia Custody and Zodia Markets in 2020 and 2021 respectively.

UAE-based fintech REMI has secured funding from the Stellar Community Fund to develop its own confidential blockchain settlement layer for regulated financial institutions. Remi is a borderless liquidity infrastructure network that enables instant, transparent and compliant global money movement across high friction, high volume corridors, bridging traditional finance and digital assets while improving access to financial services in emerging markets.