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Dubai Becomes Home To Cryptocurrency Exchange Bybit

Bybit attracts cryptocurrency users with its intuitive trading platform and 99.9% availability track record.

Published

3 years ago

April 4, 2022

dubai becomes home to cryptocurrency exchange bybit

Bybit has just joined the growing list of cryptocurrency exchanges that have settled in Dubai after the emirate embarked on a path to becoming a crypto-friendly destination with a robust regulatory regime.

Founded in 2018, Bybit currently has over two million registered users, who use the exchange to buy, sell, trade, and earn with cryptocurrencies.

According to the official announcement, Bybit wants to move its headquarters to Dubai and offer a full suite of products and services in the UAE from April 2022 onwards.

bybit founder dubai launching

“We are pleased to announce that Bybit has received in-principle approval to conduct a full spectrum of virtual assets business in the UAE,” states the exchange in the official announcement.

Bybit attracts cryptocurrency users with its intuitive trading platform and 99.9 percent availability track record. In addition to spot trading, Bybit users can also speculate, hedge, and increase leverage with futures contracts.

Other cryptocurrency exchanges that have a virtual asset to operate in Dubai include Binance, the world’s largest cryptocurrency exchange, and Crypto.com, a Singapore-based cryptocurrency exchange powered by the CRO token.

“Virtual assets such as cryptocurrency and blockchain have changed finance forever,” said H.E. Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade and Minister in Charge of Talent Attraction and Retention. “To stay ahead in this fast-changing industry, we are building a business-friendly ecosystem with robust regulations to attract, retain and enable high-growth companies.”

Also Read: A Beginner’s Guide To Getting Started With NFTs

So far, the effort is bearing fruit because the Middle East is one of the fastest-growing cryptocurrency markets in the world, accounting for 6.6 percent of global cryptocurrency activity.

In the UAE alone, the digital economy contributes around 4.3 percent to the gross domestic product, and the number is expected to increase as more and more exchanges like Bybit take advantage of the favorable regulatory environment.

Related Topics:Bybit Cryptocurrency Dubai

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Samsung Smart Glasses Teased For January, Software Reveal Imminent

According to Korean sources, the new wearable will launch alongside the Galaxy S25, with the accompanying software platform unveiled this December.

Published

2 days ago

December 4, 2024

Nour Nasir

samsung smart glasses teased for january software reveal imminent

Samsung appears poised to introduce its highly anticipated smart glasses in January 2025, alongside the launch of the Galaxy S25. According to sources in Korea, the company will first reveal the accompanying software platform later this month.

As per a report from Yonhap News, Samsung’s unveiling strategy for the smart glasses echoes its approach with the Galaxy Ring earlier this year. The January showcase won’t constitute a full product launch but will likely feature teaser visuals at the Galaxy S25 event. A more detailed rollout could follow in subsequent months.

Just in: Samsung is set to unveil a prototype of its augmented reality (AR) glasses, currently in development, during the Galaxy S25 Unpacked event early next year, likely in the form of videos or images.

Additionally, prior to revealing the prototype, Samsung plans to introduce…

— Jukanlosreve (@Jukanlosreve) December 3, 2024

The Galaxy Ring, for example, debuted in January via a short presentation during Samsung’s Unpacked event. The full product unveiling came later at MWC in February, and the final release followed in July. Samsung seems to be adopting a similar phased approach with its smart glasses, which are expected to hit the market in the third quarter of 2025.

A Collaborative Software Effort

Samsung’s partnership with Google has played a key role in developing the smart glasses’ software. This collaboration was first announced in February 2023, with the device set to run on an Android-based platform. In July, the companies reiterated their plans to deliver an extended reality (XR) platform by the end of the year. The software specifics for the XR device are expected to be unveiled before the end of December.

Reports suggest that the smart glasses will resemble Ray-Ban Meta smart glasses in functionality. They won’t include a display but will weigh approximately 50 grams, emphasizing a lightweight, user-friendly design.

Feature Set And Compatibility

The glasses are rumored to integrate Google’s Gemini technology, alongside features like gesture recognition and potential payment capabilities. Samsung aims to create a seamless user experience by integrating the glasses with its broader Galaxy ecosystem, starting with the Galaxy S25, slated for release on January 22.