Dubai's Coinmarketpedia, a decentralised crypto and blockchain educational platform, has raised $2 million from undisclosed private investors in a pre-seed funding round.
The funds will be used to expand the start-up's “global footprint and achieve key internal goals”, it said.
The company did not disclose which markets it planned to enter or the timeline for expansion.
The funds will also be used to enhance the features of the platform, hire industry experts and make investments towards future partnerships.
Founded in 2019, Coinmarketpedia began operations in the UAE in February this year on an invitation-only basis. It was launched to the public in April.
“The funds will not only further enable growth but it will allow us to expand on marketing and PR activities across multiple channels, and build partnerships with schools, institutes and universities,” said Shameer Thaha, chief futurist of Coinmarketpedia.
The platform will “unify all expert efforts in sharing their crypto and blockchain expertise with enthusiasts, developers, investors and traders … and that will be a hub for all crypto and blockchain professionals of the industry”, Mr Thaha said.
The Middle East is one of the fastest-growing crypto markets in the world. It received $271.7 billion worth of cryptocurrency between July 2020 and June 2021, which represents 6.6 per cent of global activity, Chainalysis data shows.
The UAE aims to double the contribution of the digital economy to its gross domestic product from 9.7 per cent to 19.4 per cent within the next 10 years.
Dubai plans to become a key player in the virtual world and is also developing a regulatory and legislative framework for the sector.
In March, Dubai adopted a law to regulate virtual assets to provide investors with a safe environment while embracing emerging technologies.
That same month, the Dubai Financial Services Authority, the regulator of the emirate’s financial centre, also published its regulatory framework overseeing crypto tokens, or cryptocurrencies, for public consultation.
Coinmarketpedia has so far hired more than 70 instructors and offers a library of more than 160 on-demand courses related to various subjects such as crypto trading and blockchain.
The platform is also developing a professional academic section and a blockchain-based certificate verification that will bring “trust and credibility” to the certifications that students gain.
The company aims to achieve a “decentralised world” in which everyone can have access to equal economic opportunity through education and knowledge sharing, it said.
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Sun jukebox
Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)
This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.
Elvis Presley, Mystery Train (1955)
The B-side of Presley’s final single for Sun bops with a drummer-less groove.
Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)
Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.
Carl Perkins, Blue Suede Shoes (1956)
Within a month of Sun’s February release Elvis had his version out on RCA.
Roy Orbison, Ooby Dooby (1956)
An essential piece of irreverent juvenilia from Orbison.
Jerry Lee Lewis, Great Balls of Fire (1957)
Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Nancy 9 (Hassa Beek)
Nancy Ajram
(In2Musica)
