...
Connect with us

Business

Apple Pay, Cash App, and Other Digital Wallets Face Bank-Like Regulations

Apple Pay Cash App and Other Digital Wallets Face Bank Like Regulations 8

The rapidly evolving landscape of digital payments is entering a new chapter. Apple Pay, Cash App, PayPal, Google Wallet, and other popular digital wallets will soon be held to the same regulatory standards as banks. This follows a landmark rule issued by the US Consumer Financial Protection Bureau (CFPB). Digital wallets face bank-like regulations going forward.

Digital Wallets Face Bank-Like Regulations

Digital Wallets Face Bank-Like Regulations

What the Rule Means for Digital Wallet Providers

The CFPB’s new rule, finalised last Thursday, targets digital payment apps that process over 50 million transactions annually. These providers handle over 13 billion transactions each year. They will now be subject to enhanced supervision. This move aims to ensure that digital wallet providers adhere to strict federal regulations surrounding consumer privacy, fraud prevention, and legal compliance.

“Digital payments have gone from novelty to necessity, and our oversight must reflect this reality. The rule will help to protect consumer privacy, guard against fraud, and prevent illegal account closures.”

Under the new framework, digital wallet providers will undergo proactive examinations. This allows the CFPB to enforce compliance in real time. It marks a significant shift in how these companies are regulated. Their operational scrutiny now aligns with that of traditional banks and credit unions.

Why the Regulation Is Necessary

The explosion of digital payments has transformed how people manage money, making these platforms indispensable tools for daily transactions. However, their widespread adoption has also raised concerns about privacy violations, fraud risks, and insufficient consumer protections.

Previously, digital wallets operated in a regulatory grey area. They were overseen less strictly than banks despite handling billions of dollars in transactions. With this rule, the CFPB aims to close that gap. It ensures users of these platforms enjoy the same level of protection as traditional bank customers.

Digital Wallets Face Bank-Like Regulations

Digital Wallets Face Bank-Like Regulations

Key objectives of the regulation include:

  • Consumer Privacy: Strengthening measures to safeguard user data against misuse.
  • Fraud Prevention: Ensuring digital payment providers implement robust systems to detect and prevent fraudulent activity.
  • Account Security: Addressing issues such as arbitrary or unlawful account closures that have plagued some users in the past.

From Proposal to Reality

The CFPB’s journey toward regulating digital wallets began in earnest last year. It proposed a broader rule that would have impacted companies processing over 5 million transactions annually. That initial proposal faced pushback. However, the finalised version targets a narrower scope of providers—albeit the most influential ones in the market.

Implications for Digital Payment Platforms

Digital wallet providers like Apple Pay and Google Wallet now face the challenge of navigating a more complex regulatory environment. They must invest in compliance systems and practices similar to those of large financial institutions. For consumers, this change should translate to enhanced security and accountability from the platforms they use daily.

However, increased regulation may come at a cost. Stricter compliance could lead to higher operational expenses for these companies. This may potentially trickle down to users in the form of fees or revised terms of service.

Digital Wallets Face Bank-Like Regulations

Timeline and Next Steps

The rule is set to take effect 30 days after its publication in the Federal Register. Once active, the CFPB will begin examining the selected digital wallet providers to ensure their compliance with federal laws.

This development underscores the growing importance of regulatory oversight in the digital economy. As digital wallets continue to blur the lines between technology and finance, they are increasingly seen as integral components of the financial system. This necessitates bank-like scrutiny.


Advertisement

Entrepreneur

Spotting the Next Big Investment Opportunity in Dubai’s Startup Scene

Spotting the Next Big Investment Opportunity in Dubai’s Startup Scene

Dubai has solidified itself as a global innovation hub, attracting startups, venture capitalists, and tech disruptors. From AI and fintech to space technology and Web3, new investment opportunities are emerging fast. But how do you get in early before they go mainstream?

Here’s how to spot and invest in the next big thing in Dubai’s startup scene.

Spotting the Next Big Investment Opportunity in Dubai’s Startup Scene
Spotting the Next Big Investment Opportunity in Dubai’s Startup Scene


1. Which Industries Are Booming in the UAE’s Business World?

Dubai’s startup ecosystem is thriving, with government support, tax-free zones, and a booming digital economy fueling new business growth. Here are the top industries to watch for high-growth investments:

🚀 Artificial Intelligence (AI) & Automation

The UAE has committed $50 billion to becoming an AI superpower, with AI-driven government services, self-driving transport, and deep-tech research.

Dubai’s AI Strategy 2031 is focused on robotics, predictive analytics, and smart city solutions—making AI startups a hot investment.

Top AI Startups to Watch:

  • G42 (AI & cloud computing)
  • Derq (AI-powered smart traffic systems)
  • Cognit DX (AI for customer experience)
image (11)


💳 Fintech & Digital Banking

Dubai’s fintech sector grew 230% in 5 years, thanks to blockchain-based finance, payment tech, and neobanking.

Free zones like DIFC and ADGM offer regulatory sandboxes, attracting global fintech startups.

Top Fintech Startups to Watch:

  • YAP (UAE’s first digital-only bank)
  • Tabby (Buy-now-pay-later platform)
  • Sarwa (Robo-advisor for investing)
image (10)


🌐 Web3 & Blockchain Innovation

The UAE aims to be a global crypto and blockchain leader with over 1,500 blockchain startups already operating in Dubai.

Government-backed initiatives like Dubai’s Metaverse Strategy aim to create 40,000 Web3 jobs by 2030.

Top Web3 Startups to Watch:

  • MidChains (Regulated crypto exchange)
  • FTFT Capital (Blockchain & DeFi solutions)
  • ColossiDAO (Decentralized investment platform)
Spotting the Next Big Investment Opportunity in Dubai’s Startup Scene


🛰 Space Tech & Aerospace Innovation

✅ The UAE Space Agency is funding space startups, with a $3 billion investment in future Mars and Moon missions.

✅ Startups focusing on satellite technology, space mining, and zero-gravity manufacturing are gaining investor interest.

Top Space Startups to Watch:

  • Yahsat (Satellite communications)
  • Mubadala-backed Strata (Aerospace innovation)
  • Mars Scientific City (UAE’s space research hub)
image (17)


2. How to Invest in Web3, AI, and Fintech Startups Before They Go Mainstream

Early-stage investing in Dubai’s hottest startups requires the right strategy. Here’s how to get in early:

💰 Venture Capital & Angel Investing

Join Angel Investment Networks – Platforms like Dubai Angel Investors and Womena provide early access to pre-seed and seed-stage startups.

Invest in Startup Accelerators – Backing AI, fintech, and blockchain-focused accelerators like Hub71, DIFC Fintech Hive, and Flat6Labs gives exposure to vetted startups.

Check Crowdfunding Platforms – Sites like Eureeca and Beehive offer equity crowdfunding for early-stage UAE businesses.

image (16)


📊 Track Government-Backed Tech Grants

Abu Dhabi’s Hub71 Incentive Program offers free office space, networking, and funding for tech startups.

DIFC’s Fintech Hive provides early-stage funding and regulatory support for fintech innovators.

Mohammed Bin Rashid Innovation Fund gives venture debt financing to high-growth UAE startups.

image (14)
Spotting the Next Big Investment Opportunity in Dubai’s Startup Scene


3. Networking Events & Pitch Nights for Meeting UAE’s Top Entrepreneurs

Networking is key to spotting the next big startup success. Dubai hosts some of the best pitch nights, investor summits, and startup meetups:

🎟 Best UAE Startup Events for Investors

📌 Step Conference (Dubai, February 2025) – The Middle East’s biggest startup summit, featuring AI, Web3, and fintech founders pitching to investors.

📌 GITEX Global (Dubai, October 2025) – The region’s largest tech expo, showcasing next-gen AI, blockchain, and smart city startups.

📌 Fintech Surge (October 2025) – Focused on emerging fintech and crypto trends, this event connects investors with high-growth startups.

📌 Dubai Angel Investors Meetup (Quarterly) – A networking event for VC firms, angel investors, and startup founders looking for funding.

📌 DisruptAD (Abu Dhabi’s Startup Program) – A pitch competition and networking event for investors targeting early-stage UAE startups.

Spotting the Next Big Investment Opportunity in Dubai’s Startup Scene
Spotting the Next Big Investment Opportunity in Dubai’s Startup Scene


Final Thoughts: How to Spot the Next Big Startup in Dubai

Dubai’s fast-growing tech ecosystem is packed with high-growth investment opportunities. By focusing on AI, fintech, Web3, and space startups, networking with founders at pitch nights, and investing in early-stage accelerator programs, you can get in before the next big unicorn emerges.

🚀 Which industry do you think will dominate Dubai’s startup scene next?

Let us know!


Continue Reading

Entrepreneur

How to Get Into the Private Crypto & NFT Investment Circles in the UAE

DALL·E 2025 03 18 17.58.21 A cinematic, ultra realistic image of an exclusive VIP crypto investor gathering in Dubai. The scene takes place in a luxurious private lounge with mo

The United Arab Emirates (UAE), particularly Dubai, has emerged as a global hub for cryptocurrency and NFT investments. With its progressive regulatory environment and burgeoning tech ecosystem, the region offers numerous opportunities for those looking to delve into exclusive investment circles. If you are interested in Private Crypto & NFT investments, here’s how you can navigate this dynamic landscape:​

Private Crypto & NFT Investment Opportunities in UAE


1. Exclusive Investment Groups & DAOs Making Waves in Dubai

RAK Digital Assets Oasis (RAK DAO): Located in Ras Al Khaimah, RAK DAO is a government-supported free zone designed to foster digital asset companies. It offers efficient onboarding processes and pivotal licensing, which fuel business growth in the private crypto sector and provide NFT opportunities. ​

XDC Blockchain Accelerator: In collaboration with RAK DAO, XDC has launched the “Builder’s Oasis” accelerator program, dedicating $2 million to support Web3 startups. This includes sectors like gaming, AI, and blockchain infrastructure. Select participants are eligible for up to $100,000 in funding. They also receive guidance from RAK DAO’s focused partners in the NFT ecosystem.

HomeCubes DAO Initiatives: HomeCubes leverages DAOs to facilitate co-living property investments in the UAE. They create new ways for individuals to pool resources collectively in private real estate opportunities, including crypto and NFTs.


2. Attending Invite-Only Crypto & Blockchain Networking Events

Global Blockchain Congress: Scheduled for February 5-6, 2025, in Dubai, this exclusive event connects blockchain innovators with leading investors. It happens through pre-arranged, one-on-one meetings. These private crypto invitations ensure a curated networking environment for NFT enthusiasts too. ​

TOKEN2049 Week: Taking place from April 28 to May 4, 2025, in Dubai, TOKEN2049 Week encompasses a wide range of meetups, workshops, networking drinks, and parties. TOKEN2049 is the flagship event. Some events are invite-only, offering exclusive networking opportunities in the private crypto world with NFTs included.

AIBC World Summit: Recognized globally for blockchain, AI, crypto, and emerging technologies, the AIBC Summit hosts exclusive, invitation-only events. This provides a platform to connect with industry leaders in crypto circles, especially those focusing on private NFT assets.

Meetup Groups: Platforms like Meetup.com list various cryptocurrency groups in Dubai, offering opportunities to connect with local private NFT and crypto enthusiasts and professionals.

Eventbrite Listings: Eventbrite features blockchain networking events in Dubai, ranging from workshops to symposiums. These events cater to different interests, including private NFT initiatives within the crypto community.

Private Crypto & NFT Investment Opportunities in UAE


3. UAE-Based Web3 Startups to Keep an Eye On

CoinMENA: Licensed by Dubai’s Virtual Asset Regulatory Authority (VARA), CoinMENA is a platform that allows users to buy, sell, send, receive, and store digital assets securely. It operates efficiently in the private crypto sector while catering to NFT investors.

HomeCubes: This platform utilizes DAOs to fund mixed-use developments in Dubai. It provides a transparent, efficient, and inclusive alternative to traditional financing methods in real estate for private crypto and NFT investors.

DMCC Crypto Centre Members: The Dubai Multi Commodities Centre (DMCC) hosts a vibrant crypto and blockchain ecosystem. It offers flexible licensing solutions, commercial space, and access to a highly skilled talent pool. Members benefit from industry’s private networking events and opportunities in NFT funding circles.

Private Crypto & NFT Investment Opportunities in UAE


Final Thoughts

Integrating into the private crypto and NFT investment circles in the UAE requires strategic networking. Additionally, participate actively in exclusive events and stay informed about emerging Web3 startups. By engaging with leading DAOs, attending high-profile conferences, and monitoring innovative projects in private crypto and NFT spheres, you can position yourself at the forefront of the UAE’s dynamic digital asset landscape.​


Continue Reading

Entrepreneur

How to Sneaker-Shop Like a Pro: Finding Rare Kicks in the UAE

HOW RESELLER SNEAKERS

Dubai has rapidly become a global sneaker hub, with limited-edition drops, high-end sneaker boutiques, and exclusive resell markets thriving across the city. If you’re wondering how to sneaker-shop effectively, whether you’re after Nike Dunks, Yeezys, or rare Jordan collaborations, the UAE offers plenty of ways to cop exclusive sneakers—if you know where to look. Knowing how to sneaker-shop in such a diverse marketplace can be overwhelming, but understanding the scene is key.

Here’s your ultimate guide to finding the rarest sneakers in Dubai & Abu Dhabi like a pro. Learning how to sneaker-shop here means knowing the right places and times.

How to Sneaker-Shop


1. The Best Sneaker Stores for Exclusive Releases in the UAE

If you’re looking for exclusive releases, high-heat sneakers, and rare collaborations, these are the top sneaker boutiques in the UAE:

👟 Top Sneaker Boutiques in Dubai & Abu Dhabi

🏆 Presentedby (Dubai Mall) – The UAE’s hottest sneaker consignment store, with a gallery-style layout and premium sneakers sourced globally.

🔥 Concepts Dubai (City Walk 2) – One of the best stores for limited-edition sneaker collabs, including Nike, New Balance, and Yeezy.

💎 Amongst Few (Jumeirah 1) – A UAE-based streetwear brand and sneaker boutique stocking exclusive releases and local collabs.

👀 The Good Life (Alserkal Avenue) – A sneaker boutique known for carrying rare Air Jordans, Yeezys, and New Balance drops.

🚀 MAD Kicks (Bluewaters Island) – One of the top resell sneaker stores in Dubai, specializing in rare and high-value kicks.

🌍 Snkr Bubble (Dubai Design District) – A go-to spot for luxury sneakers, Nike SB Dunks, and premium streetwear.

Pro Tip: Follow these stores on Instagram for real-time updates on exclusive sneaker releases and restocks. Additionally, knowing how to sneaker-shop in Dubai is simplified by staying connected through social media.

How to Sneaker-Shop


2. How to Get Early Access to Nike SNKRS & Yeezy Drops in Dubai

Copping sneakers at retail prices is tough, but early access and raffles can help you secure limited-edition kicks before they hit the resell market.

🔥 Best Ways to Get Exclusive Sneaker Drops in Dubai

Nike SNKRS App – Nike’s official app for exclusive releases and limited sneaker drops. Download it and enable notifications to increase your chances when you learn how to sneaker-shop effectively.

Adidas CONFIRMED App – The best way to enter raffles for Yeezy and Adidas collaborations before they sell out.

Limited-Edition Sneaker Raffles – Boutiques like Concepts Dubai, Presentedby, and Amongst Few regularly host raffles for high-heat sneakers. Follow them on social media for updates.

Retailer Priority Lists – Stores like The Good Life and MAD Kicks offer VIP customer lists, giving priority access to exclusive sneaker drops.

image (21)


3. The Best Sneaker Resell Marketplaces in the UAE

If you miss out on retail drops, resell platforms and consignment stores are your best bet for scoring rare kicks in Dubai & Abu Dhabi. Learning how to sneaker-shop in the resell market is a must for rare finds.

💰 Trusted Resell Marketplaces for Legit Sneakers

📦 MAD Kicks (Dubai) – A top resell sneaker store specializing in rare Jordans, Yeezys, and Off-White collaborations.

💎 Presentedby (Dubai Mall) – A premium sneaker consignment store offering authenticated high-value sneakers.

🌐 GOAT & StockX (Online)Global sneaker marketplaces that ship to the UAE with authentication services for added security.

🛍 The Luxury Closet (Dubai & Online) – A resale platform offering designer sneakers and rare hype collaborations.

Pro Tip: Always authenticate sneakers when buying from resellers. Use platforms like CheckCheck or LegitGrails to verify authenticity.

How to Sneaker-Shop


Final Thoughts: Sneaker Shopping in Dubai Like a Pro

If you’re serious about copping rare sneakers in Dubai, it’s all about strategy, connections, and early access. Follow boutique sneaker stores, enter raffles, and know where to resell safely—and you’ll be rocking the rarest kicks in the UAE in no time. Knowing how to sneaker-shop can make this process much easier.

📍 Which sneaker drop are you waiting for? Let us know!


Continue Reading

Trending