The Technology Express Magazine

The Death of the OTP

The 100-Year Gulf Portfolio

Algorithmic Intuition: AI Meets Human Sentiment in Forex

The New Liquidity Corridor: Dubai–Singapore

May 2026

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EDITOR’S

NOTE

EDITORIAL

Manish Kumar

DESIGN

Hamza Khan

“AI is a state of sovereignty. Like you spend budgets on defence,

on cyber, you have to spend budget on AI. AI is a sovereignty for

every single nation”

— H.E. Abdulla Bin Touq Al Marri, Minister of Economy and

Tourism, Government of United Arab Emirates

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COMMERCIAL (EVENTS & ADVERTISING)

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The architecture of global finance is evolving into an

intelligent system.

Markets are becoming increasingly algorithmic.

Liquidity is moving at machine speed. Identity is shifting

from credentials to cryptographic trust. And capital itself

is becoming programmable across both institutional and

individual layers.

In this edition, we examine how these shifts are converging

into a new financial operating model – where banking, trading,

wealth creation, and cross-border capital flows are no

longer separate systems, but interconnected infrastructure

powered by data, AI, and digital rails.

Our cover story, “The AI Investor Era: How the UAE Is

Embedding AI into Capital Markets,” explores how artificial

intelligence is becoming embedded directly into the

operational foundations of financial systems – shaping

execution, liquidity, risk, and asset design in real time.

Across the issue, we look at how banking security is being

redefined through the move away from OTPs toward biometric

and risk-aware authentication, how high-frequency trading

is reshaping liquidity and price discovery at microsecond

speeds, and how AI-driven sentiment systems are merging

with human decision-making in forex markets.

We also examine how sovereign-style investing models

are becoming accessible to individuals through automation

and tokenization, and how new global liquidity corridors

such as Dubai–Singapore are restructuring the geography

and timing of capital flows.

Together, these developments point to a broader shift

in which finance is becoming more connected, more

automated, and increasingly infrastructure-led.

Within this emerging system, the UAE is not simply

participating in change – it is actively contributing to the

design of next-generation financial architecture.

MCFILL MEDIA &

PUBLISHING GROUP

TECH

8

20

Capital Markets:

High-Frequency Trading Redefining

Market Liquidity

Interview:

Equity Funding for Tech Businesses

12

22

Drive to the Future:

Lucid Gravity, Luxury American

All-Electric Flagship SUV

Sovereign Wealth:

Individual Sovereign Wealth: A New

Ecosystem

26

42

Cover Story:

The AI Investor Era: How the UAE Is

Embedding AI into Capital Markets

Interview:

AI Deployment Reaches New Peaks

in UAE Enterprises

32 50

Digital Identity:

The Death of the OTP

Generational Wealth:

The 100-Year Gulf Portfolio

INSIDE

Capital Markets

High-Frequency Trading

Redefining Market

Liquidity

Algorithms now execute millions of microsecond trades, tightening

spreads and reinforcing market resilience in the age of

AI-driven volatility.

High-frequency trading accounts for over 50% of equity

volumes, driving tighter spreads, deeper liquidity,

and real-time price discovery. UAE hubs like ADGM

are pioneering regulated HFT with AI-driven analytics,

while global rules curb flash risks and support

resilient liquidity into 2026.

High-frequency trading (HFT)

has revolutionized financial

markets, turning liquidity into

a high-speed engine that redefines

depth and resilience. In 2026, HFT

drives over 50% of global equity

volumes, executing millions of microsecond-level

trades via AI algorithms

and FPGA hardware to tighten bidask

spreads and strengthen order

books against shocks. UAE hubs like

ADGM and DIFC lead the regional

charge, issuing proprietary trading

licenses that enable low-latency

fintech while enforcing oversight to

mitigate flash risks.

Traditional trading pales in

comparison: HFT slices large orders

into invisible micro-trades, arbitraging

nanosecond price gaps across

exchanges, dark pools, and crypto

venues. Firms like Virtu Financial and

Citadel Securities use kernel-bypass

networking and reinforcement learning

to forecast order flows, refreshing

quotes in under 100 microseconds,

faster than any human intervention.

In the UAE, this infrastructure supports

rapid expansion, with ADGM’s

8 \ May 2026


Q3 2025 report showing 43%

more financial entities, channeling

liquidity between Asia and Europe

through Dubai’s strategic position.

Beyond speed, HFT relies on

advanced simulators and regulatory

frameworks to build scalable

liquidity systems. Globally, institutions

embed AI-driven execution

strategies that balance innovation

with stability amid geopolitical volatility

and macroeconomic shocks.

HFT Arms Race: Depth

At its core, HFT operates like a

precision factory: in-memory order

books fused with edge AI deliver

tick-by-tick decisions, continuously

replenishing depth during

stable conditions. UAE regulators,

including DFSA and FSRA, have

approved sub-millisecond pilots

across equities, sukuk bonds, and

digital assets. Multilingual machine

learning systems process

Arabic, English, and Hindi order

flows, while volatility models help

anticipate disruptions during highstakes

sessions.

Enterprises can replicate this

model through three pillars. First,

deploy reusable low-latency

infrastructure aligned with ethics

standards and Market Abuse Regulation

(MAR) compliance. Second,

empower non-technical teams

with no-code algorithm tools and

structured training. Third, shift

performance metrics from volume

to measurable liquidity quality,

focusing on resilience under stress

conditions. The UAE’s HFT ecosystem

reflects a broader shift:

algorithms increasingly mapped

to strategic revenue goals and

reinforced by data sovereignty

frameworks.

This competitive layer extends

into infrastructure. Firms co-locate

servers near matching engines,

using microwave networks to gain

micro-latency advantages over

fiber optics. In Dubai, proximity to

DFM and Nasdaq Dubai amplifies

this effect, creating a liquidity hub

that attracts institutional and algorithmic

flows.

AI Analytics Surge

The UAE’s HFT growth aligns with

its national AI strategy, leveraging

machine learning to analyze

petabyte-scale tick data and

identify execution patterns that

improve trading performance.

Quantum-inspired optimization

reduces computational load, while

hybrid cloud architectures improve

cost efficiency as AI workloads

expand. Regulatory sandboxes in

ADGM enable controlled testing

of high-frequency strategies,

aligning with global SEC and CFTC

requirements such as kill switches

and position limits.

For enterprise leaders, the priority

is clear: integrate HFT systems

with sustainability goals. Co-locate

data centers near renewable

energy sources, adopt efficient

cooling technologies, and conduct

regular bias and fairness audits to

ensure transparent price discovery.

The UAE model demonstrates

that regulated speed can enhance

liquidity without sacrificing trust,

evident in tighter spreads during

recent volatility cycles.

Academic collaboration

strengthens this ecosystem.

Institutions like MBZUAI work with

exchanges to develop next-generation

algorithms, embedding

research into regulatory sandboxes

for anomaly detection and

advanced modeling.

Enterprise Playbook

DMCC’s proprietary trading ecosystem

illustrates how HFT can

be structured within regulated

environments to deepen markets

while enabling real-time oversight.

Academic institutions contribute

by co-developing operational AI

frameworks and policy tools.

This integrated model ensures

that innovation in high-frequency

trading remains aligned with

regulatory integrity and long-term

market stability.

HFT revolutionizes liquidity through ultra-tight

spreads, enhanced depth, real-time

discovery, AI resilience, and robust

oversight, positioning UAE as the premier

global financial hub for decades ahead.”

— Abdulla Mohammed Al Awar,

CEO,

DFSA (Dubai Financial Services Authority)

May 2026 / 9

INVESTMENT NEWS

ARK Invest Adds

OpenAI to ETFs After

Record $122B Funding

Round

ARK Invest has added OpenAI

exposure to three flagship

ETFs after its $122 billion

funding round, valuing the company

at $852 billion. This allows retail

investors to gain indirect access to a

leading private tech firm ahead of a

potential IPO. Backed by major investors

including Amazon and Nvidia,

OpenAI’s rapid growth and expanding

user base continue to drive expectations

of a future public listing.

2PointZero Backs

WHOOP to Accelerate

Global Growth in

Wearable Health Tech

2PointZero Group has invested in

WHOOP’s Series G funding round

to support global growth in wearable

health technology. Known for its

subscription-based fitness platform,

WHOOP provides continuous health

monitoring and personalized insights

to users. This reflects confidence in

the wellness tech sector and WHOOP’s

scalable model. With strong international

presence the company aims to expand

further and enhance its ecosystem.

Samsung Lands $7.4B

EUV Deal for AI Chip

Fab Expansion

Samsung has secured a $7.4

billion deal to acquire advanced

extreme ultraviolet lithography

systems, strengthening its push into

next-generation AI chip manufacturing.

The investment focuses on scaling production

of high-bandwidth memory and

advanced DRAM, which are critical for AI

workloads and data center applications.

As demand for AI accelerates, Samsung

aims to close the gap with rivals such

as SK Hynix and TSMC. The new EUV

equipment will support finer process

nodes and improved efficiency in chip

fabrication. The company positions

itself to capture a larger share of the

AI semiconductor market. The deal also

reflects a broader industry shift toward

capital-intensive manufacturing, where

access to advanced lithography tools

determines long-term competitiveness

in AI-driven chip production and future

semiconductor supply chain dominance

across global technology manufacturing

ecosystems.

Microsoft and Google Move Toward Long-Term

DRAM Supply Deals With SK Hynix

Microsoft and Google are negotiating

three-year DRAM

supply deals with SK Hynix,

introducing price floors and upfront

deposits. The shift reflects growing

AI-driven demand, treating memory

as a strategic resource. With rising

prices and limited supply, long-term

contracts are reshaping the market.

While securing stability for major

buyers, the trend could strain smaller

customers and alter traditional pricing

cycles across the global semiconductor

industry.

Intel and Google

Expand AI Infrastructure

in Multiyear

Cloud Deal

Intel and Google have expanded their

long-running collaboration with a

multiyear cloud and AI infrastructure

deal designed to improve performance,

efficiency, and scalability across

Google Cloud. The agreement keeps

Intel Xeon processors at the center

of Google’s infrastructure while also

deepening co-development of custom

ASIC-based infrastructure processing

units. Together, the companies aim to

support AI, inference, and general-purpose

workloads with more balanced

and flexible compute systems. The

partnership reflects a broader shift

toward heterogeneous architectures,

where CPUs and custom accelerators

work together instead of relying only

on GPUs. As AI demand grows, Google

and Intel are positioning their combined

hardware and cloud capabilities as a

foundation for faster, more efficient

enterprise AI deployment.

10 \ May 2026

OpenAI Ad Revenue

Growth Targets $100

Billion

OpenAI is projecting a rapid rise

in advertising revenue, with

plans to generate $2.5 billion in

2026 and reach $100 billion annually

by 2030. Investor presentations show

a steep trajectory, rising to $11 billion

in 2027, $25 billion in 2028, and $53

billion in 2029. The forecast depends

on OpenAI’s products reaching 2.75

billion weekly active users by the end

of the decade, a scale that would rival

the world’s largest platforms. Early

results from the company’s U.S. ad pilot

have encouraged this ambition, while

the broader plan positions advertising

as a core pillar alongside subscriptions

and enterprise services. The strategy

also reflects the high cost of AI infrastructure

and OpenAI’s need to diversify

revenue as it scales globally. It would

reshape OpenAI’s business model

across the global digital advertising

and AI platform economy over the next

several years with major implications

for competitors worldwide.

Amazon Targets $9

Billion Globalstar Deal

to Expand Satellite

Internet

Amazon is in talks to acquire

Globalstar for about $9 billion,

aiming to strengthen its position

in the low Earth orbit broadband market

and better compete with SpaceX’s Starlink.

The deal faces hurdles, including

Apple’s 20% stake and existing service

agreements. While it could boost Amazon’s

Project Kuiper ambitions, strong

rival interest and ongoing negotiations

leave the outcome uncertain amid intensifying

market competition.


Nvidia Invests $7

Billion in Intel and

Marvell to Boost AI

Ecosystem

Nvidia has invested $7 billion in

Intel and Marvell to strengthen

its AI ecosystem, taking major

stakes in both companies. The move

supports collaborations in AI infrastructure,

custom silicon, and data center

technology. While boosting Intel’s

manufacturing push and Marvell integration,

the strategy reflects Nvidia’s

broader effort to reshape the global AI

supply chain amid rising demand and

competition.

Samsung Plans $4

Billion Vietnam Chip

Facility

Samsung has secured a $7.4

billion deal to acquire advanced

extreme ultraviolet lithography

systems, strengthening its push into

next-generation AI chip manufacturing.

The investment focuses on

scaling production of high-bandwidth

memory and advanced DRAM, which

are critical for AI workloads and data

center applications. As demand for AI

accelerates, Samsung aims to close

the gap with rivals such as SK Hynix

and TSMC. The new EUV equipment

will support finer process nodes and

improved efficiency in chip fabrication.

Consequently, the company positions

itself to capture a larger share of the AI

semiconductor market. The deal also

reflects a broader industry shift toward

capital-intensive manufacturing, where

access to advanced lithography tools

determines long-term competitiveness

in AI-driven chip production and future

semiconductor supply chain dominance

across global ecosystems.

Anthropic Surpasses $30 Billion Annualized

Revenue as AI Growth Accelerates

Anthropic’s annualized revenue

has surpassed $30 billion, up

sharply from $9 billion at the

end of 2025, driven by rapid enterprise

adoption and its Claude platform. Growth

is supported by major infrastructure

deals and expanding AI demand. With

strong customer momentum and rising

investments in compute, the company

is positioning itself for expansion and

a potential IPO later in 2026. Its enterprise-focused

AI strategy continues to

attract large-scale deployments across

global industries.

May 2026 / 11

DRIVE TO THE FUTURE

3.6 s

0–100 km/h

789 hp

Horsepower

1200 Nm

Torque

12 \ May 2026


LUCID GRAVITY

Luxury American All-Electric Flagship SUV

The Lucid Gravity Dual Motor Grand Touring

AWD is positioned as the brand’s halo SUV,

translating the company’s high-performance

saloon expertise into a three-row family format.

With two permanent magnet synchronous motors

and all-wheel drive, the Gravity in this specification

produces 789 horsepower and a formidable

1,200 Nm of torque, allowing it to sprint from 0 to

100 km/h in 3.6 seconds and reach 250 km/h.

A 123 kWh lithium-ion battery sits at the core of

the vehicle, contributing to a WLTP range figure of

about 700 km, which is notable for such a large

and powerful SUV. Official data indicate zero tailpipe

emissions, and the generous battery capacity

supports both high-speed touring and demanding

daily use.

Chassis engineering is a key part of what distinguishes

the Gravity. The front uses an aluminium-intensive

virtual-axis double wishbone

suspension, while the rear employs an aluminium-intensive

multi-link arrangement. Air springs

with adjustable ride height and adaptive dampers,

capable of very rapid compression and rebound

adjustments, are fitted at both ends to reconcile

ride comfort with body control.

Inside, Lucid has packaged the Gravity as a true

seven-seater, with three rows of seating and generous

legroom figures: over 40 inches in the first

two rows and close to 34 inches in the third. Luggage

capacity begins at roughly 780 litres and expands

beyond 3,000 litres with the rows folded,

underlining its practicality for extended journeys

or active families.

Although several electric SUVs now promise

high power outputs, the Gravity Grand Touring

distinguishes itself by combining near-supercar

acceleration, long-range capability, and a cabin

tailored for seven adults, rather than merely occasional-use

rear seats. That balance of outright performance,

packaging efficiency, and finely tuned

suspension hardware is what marks it out as a

flagship in the emerging luxury electric SUV class.

May 2026 / 13

Trading Intelligence

Algorithmic Intuition:

AI Meets Human

Sentiment in Forex

Real-time AI analysis of trader emotions blends machine speed

with human psychology to enhance forex forecasting and adaptive

strategies.

Algorithmic intuition merges AI-driven sentiment

analysis with human insight, redefining forex trading

amid volatility. Platforms like ADX are pioneering

hybrid models that parse social signals, news flows,

and market data to generate trading edges, especially

in USD/AED pairs.

Algorithmic intuition represents

the cutting-edge

convergence of AI-powered

sentiment analysis and human

trader psychology, transforming

forex markets in profound ways. In

2026, hybrid systems process vast

streams of social media chatter,

news headlines, and order book data

to quantify emotions like fear, greed,

and indecision, delivering real-time

signals for currency pairs such as

USD/AED and EUR/USD. UAE financial

hubs like ADX and DFM lead

this shift, integrating these tools to

empower both retail speculators and

institutional desks with unprecedented

predictive accuracy.

Unlike standalone algorithms

that struggle during black swan

events, such as the 2022 dirham peg

stresses, these intuitive platforms

adapt dynamically. Natural language

processing (NLP) models scan multilingual

sources in Arabic, English,

and beyond, updating sentiment

scores every few milliseconds to

capture subtle shifts in market mood.

Dubai’s ADGM regulatory sandbox-

14 \ May 2026


es facilitate human-in-the-loop

overrides, where traders intervene

on high-stakes calls, blending

machine precision with seasoned

judgment to minimize drawdowns

and maximize alpha.

Paired with advanced backtesting

simulators and compliance-focused

training, these systems

create scalable “intuition factories.”

Enterprises worldwide are adopting

them to navigate volatile forex

landscapes, from central bank

surprises to geopolitical flares, ensuring

emotion-aware strategies

that outperform pure automation.

AI Sentiment Fusion

At the core lies a factory-standardized

pipeline: transformer-based

models dissect unstructured

data from Twitter forums, Reddit

threads, and official speeches,

generating bullish/bearish

scores directly correlated to pip

movements. The UAE’s TRA has

fast-tracked pilots for AED-centric

crosses, enabling arbitrage on

fleeting sentiment divergences

with signal accuracy exceeding

85%. Multilingual large language

models (LLMs) excel at parsing

Gulf-specific nuances, such as oil

price reactions, while integrated

volatility forecasters pre-empt

trend reversals before they cascade.

Organizations can replicate this

via a three-pillar framework. First,

build governed NLP stacks with

built-in explainability to meet

DFSA transparency rules. Second,

deploy no-code dashboards

that allow non-technical analysts

to tweak parameters intuitively.

Third, redefine success metrics

around sentiment-derived alpha

rather than simplistic win rates,

mapping strategies to high-yield

carry trades while upholding data

sovereignty. The UAE’s fintech corridor

accelerates this with colocation

facilities near DFM matching

engines, linked by microwave networks

for tick-level mood updates.

Abu Dhabi initiatives even prototype

quantum-enhanced NLP

to anticipate commerce ministry

policy signals ahead of announcements.

This fusion extends to infrastructure:

edge computing nodes

process petabytes of real-time

feeds, slashing latency to sub-seconds

and enabling seamless

integration with existing MT5

platforms popular among regional

brokers.

Human-AI Trading Edge

The UAE’s National AI 2031 strategy

supercharges this convergence,

employing reinforcement learning

to evolve models from historical

sentiment archives; detecting

sarcasm, irony, and herd behavior

that rigid algorithms overlook.

Federated cloud setups preserve

trader privacy amid exploding

compute demands, while ADGM

sandboxes rigorously test hybrid

strategies under ESMA-aligned retail

protections. Leaders prioritize

layered safeguards: human veto

rights on outlier trades, routine

cultural bias audits, and hyper-realistic

stress simulations mimicking

oil shocks or Fed pivot drama.

The UAE’s track record shines

through: sentiment-led hedging

tightened spreads during 2025’s

rate uncertainty, proving regulated

intuition scales without eroding

trust. Collaborations with MBZUAI

push boundaries further, co-developing

context-aware models

that embed academic rigor into

DFSA rulemaking, ensuring ethical

sentiment harvesting captures

nuanced psychological undercurrents

beyond machine capabilities

alone.

To bridge analysis with execution,

leading platforms are

integrating advanced sentiment

signals directly into order management

systems, enabling

automated trade adjustments that

reflect real-time psychological

shifts without compromising risk

controls.

We’re democratizing AI government-wide,

equipping every employee with intuitive

tools to rapidly build and deploy intelligent

solutions that directly serve and empower

their communities effectively.”

— Ahmed Tamim Hisham Al Kuttab,

Department of Government Enablement,

Abu Dhabi Government

May 2026 / 15

Launch express

Nothing Phone (4a) Pro:

Metal Unibody Mid-

Ranger with 140x Zoom

Launched March 5, 2026 at MWC, Nothing Phone (4a) Pro debuts a metal unibody design,

Snapdragon 7 Gen 4, and a pro triple camera with 50MP periscope telephoto for 140x zoom.

Starting at $499.

16 \ May 2026


Key Specifications & Tech Specs

+ +

Android 16, Nothing OS 4.1

Design

Metal unibody, Glyph Matrix

LED back, IP65, 210g,

163.6x76.6x7.9mm, colors:

Black, Pink, Silver

Main Display

6.83-inch AMOLED, 1.5K,

144Hz, 5,000 nits peak,

Gorilla Glass 7i

Processor

Snapdragon 7 Gen 4 (4nm,

up to 2.8GHz)

RAM

8/12GB LPDDR5x (+ virtual

up to 20GB)

Battery

5,080-5,400mAh, 50W fast

charging

Software

Storage

128/256GB UFS, no card

slot

Cameras

Rear: 50MP Sony OIS main + 50MP 3.5x OIS periscope

+ 8MP ultrawide; Front: 32MP

Pros

World-First 140x Ultra Zoom: 50MP

Sony main + 50MP 3.5x OIS periscope

telephoto + 8MP ultrawide delivers unmatched

mid-range zoom and AI-enhanced

imaging.

Ultra-Bright 144Hz Display: 6.83-inch

1.5K AMOLED peaks at 5,000 nits HDR,

Gorilla Glass 7i protected for vivid outdoor

visibility.

Powerful Snapdragon 7 Gen 4: 27%

faster CPU, 30% better graphics, up

to 20GB RAM (12GB+8GB virtual) for

smooth gaming and AI tasks.

Cons

No Expandable Storage: Fixed 128/256GB

UFS options, no microSD slot for power

users needing more space.

Mid-Range Charging Speed: 50W wired

fast charging is solid but lags behind flagships’

100W+ without a wireless option.

IP65 Limits Extreme Durability: Splash/

dust resistant but not fully submersible

like IP68 rivals in rugged scenarios.

The Verdict

Launched March 5, 2026, at MWC Barcelona, Nothing Phone (4a) Pro redefines mid-range smartphones with its pioneering

metal unibody design, powerful Snapdragon 7 Gen 4 chipset, and industry-first 140x zoom capability via a 50MP periscope

telephoto lens. The expansive 6.83-inch 144Hz AMOLED display achieves 5,000 nits peak brightness for stunning HDR

visuals in any lighting. Evolved Glyph Matrix notifications and Nothing OS 4.1’s AI tools create a distinctive experience,

complemented by IP65 durability, a ~5,100mAh battery, and 50W fast charging for reliable daily performance. While

expandable storage is absent, its $499 starting price delivers flagship cameras and premium style affordably, making it

the ultimate stylish mid-ranger for 2026 creators and gamers alike. Rating: 9/10.

May 2026 / 17

ai News

Eric Boyd Joins

Anthropic to Lead AI

Infrastructure

Meta Builds Secret AI

Team to Transform Ad

Algorithms

Meta quietly formed an elite AI

team, MRS Research, to improve

content and ad algorithms

across Facebook, Instagram,

and Threads. Led by former TikTok

executive Yang Song, the group focuses

on applied recommendation

systems using large language models.

Since launching in October 2025,

it has recruited experts from top tech

firms and works closely with advertising

teams to boost content ranking

and ad performance.

Nvidia H100 Prices

Surge as AI Demand

Outpaces Supply

Nvidia H100 GPU rental prices

have surged nearly 40% since

late 2025 as AI demand far

exceeds supply. Rates rose to $2.35/

hour, with capacity sold out and longterm

contracts extending into 2028.

Despite expectations of price drops,

rising AI workloads, memory costs, and

delayed chip deployments have tightened

supply. The shortage is driving

higher prices, stronger competition,

and sustained demand across the AI

and cloud computing market.

Anthropic has hired Microsoft

veteran Eric Boyd to lead its

infrastructure team as demand

for Claude Code and other AI products

accelerates. Boyd joins after years of

building scalable cloud and AI systems

at Microsoft, bringing experience in

platform engineering, capacity planning,

and enterprise reliability. The move

signals Anthropic’s intent to harden

the compute backbone behind its

fast-growing services, as usage climbs

and infrastructure strain becomes a

strategic issue. With major partnerships

and long-term capacity plans underway,

Boyd’s role will focus on ensuring that

Anthropic can expand model serving,

data-center efficiency, and operational

resilience without slowing product momentum.

His appointment also reflects

a wider industry shift, where AI leaders

now treat infrastructure talent as a core

competitive advantage.

DeepSeek V4 Model Set to Run on Huawei

Chips, Report Reveals

DeepSeek plans to launch its V4

AI model on Huawei chips, signaling

a shift toward China’s

domestic semiconductor ecosystem.

Backed by major firms, the move

breaks from reliance on U.S. hardware

and excludes Nvidia and AMD.

With growing production and performance

gains, the strategy highlights

technological self-reliance while carrying

significant global and geopolitical

implications for the AI industry

and reshaping competitive dynamics

worldwide.

Anthropic Explores

Custom AI Chip Development

Strategy

Anthropic is exploring whether to

design its own AI chips, but the

effort is still at an early stage and

no dedicated hardware team has been

formed. The company continues to rely

on a mix of Google and Amazon silicon,

alongside a long-term TPU agreement

with Google and Broadcom that will add

more capacity from 2027. The interest

in custom hardware reflects a broader

race among AI firms to secure cheaper,

faster, and more controllable compute

as workloads surge. Yet the tradeoff

is steep: advanced chip programs can

cost hundreds of millions of dollars and

take years to deliver. For Anthropic,

the question is whether future scale

justifies the investment, or whether

partnerships remain the smarter path

to meeting rising demand across enterprise

and developer products while

maintaining operational flexibility at

scale in an increasingly competitive

AI infrastructure landscape globally

evolving.

18 \ May 2026

Anthropic Launches AI

Project Glasswing to

Detect Software Vulnerabilities

Anthropic’s Project Glasswing puts

artificial intelligence to work as a

security tester, using its Claude

Mythos model to find and help fix software

vulnerabilities across hardware

and software systems. The initiative

remains tightly controlled, with access

limited to a small group of partners

because the same capability could also

be misused by attackers. Anthropic says

the effort targets tasks such as blackbox

testing, endpoint hardening, and

penetration testing, while its research

points to a faster cycle for detecting and

patching flaws. The project arrives as

security teams face shrinking response

windows and more complex attack

surfaces. By pairing advanced models

with responsible access controls,

Anthropic is positioning Glasswing as

both a defensive tool and a preview

of how AI may reshape cybersecurity

workflows in the years ahead.

CNTXT AI Upgrades

Munsit Platform for

Arabic Voice AI

CNTXT AI has upgraded its Arabic

voice platform, Munsit, responding

to rising demand for AI-driven

services. The release unifies speech

recognition and generation, evolving

from speech-to-text into a full voice

engine supporting over 25 dialects. With

flexible deployment, broad adoption,

and applications across government,

finance, and customer service, it

strengthens regional efforts toward language-focused

AI innovation and global

competitiveness and future growth.


Anthropic Blocks

Third-Party Tools From

Claude Subscriptions

Anthropic has tightened control

over Claude subscriptions,

blocking third-party tools from

using OAuth tokens and forcing

developers toward a pay-per-token

API model that raises costs for heavy

usage. Citing security, telemetry, and

economic concerns, the company is

replacing external integrations with

in-house tools, while OpenAI’s support

for OpenClaw highlights a contrasting,

open ecosystem strategy for developers

in today’s evolving AI landscape.

Alibaba Qwen Leads

Open-Source AI Downloads

Alibaba’s Qwen family has crossed

a major open-source milestone,

capturing more than 50 percent

of global model downloads and nearing

one billion cumulative installs by

March. The surge follows the release

of the Qwen 3.5 series, which helped

turn the lineup into one of the most

widely used open models worldwide.

The result highlights how Chinese AI

systems are gaining ground in the

global open-source market, even as

U.S. players such as OpenAI and Nvidia

begin to build momentum. For Alibaba,

the numbers suggest that open models

can drive massive adoption before

monetization fully arrives. They also

underline a broader strategic shift:

scale, community uptake, and developer

familiarity are now shaping the next

phase of AI competition as much as raw

benchmark performance across global

developer communities and ecosystem

trends worldwide accelerating rapidly

across markets.

Broadcom Expands AI Chip Partnerships with

Google and Anthropic

Broadcom has expanded AI partnerships

with Google and Anthropic,

securing long-term agreements

to develop custom TPUs and supply

infrastructure through 2031. Anthropic

will access large-scale TPU compute

from 2027, contingent on growth. These

deals reinforce Broadcom’s position in

hyperscale AI, with surging revenue

and ambitious projections highlighting

accelerating demand for specialized

chips and next-generation global AI

infrastructure buildout across hyperscale

ecosystems worldwide.

May 2026 / 19

Interview

MANOJ SUREKA

CEO & Managing Partner,

Synergy Fin. Consulting

20 \ May 2026


Equity Funding for Tech Businesses

Exclusive Interview

Manoj Sureka is a seasoned expert in banking, finance, and business funding advisory, and the Managing Partner

at Synergy Fin. Consulting, Dubai. With deep experience in raising capital through private equity and strategic

investors, he advises technology businesses on structuring equity deals, optimizing valuations, and scaling

sustainably.

Q: Why is equity funding crucial for

technology businesses?

Equity funding allows tech companies

to scale without immediate repayment

pressure. Since most tech businesses

require heavy upfront investment and

take time to generate profits, equity provides

the flexibility needed for growth.

A strong example is Careem, which

raised over USD 700 million across multiple

rounds before being acquired by

Uber for approximately USD 3.1 billion.

Equity is not just capital, it’s growth

capital aligned with long-term vision.

Q: At what stage should a tech business

start raising equity?

Equity is typically raised when the business

has validated its concept or started

generating traction. Early-stage startups

raise seed funding, while growth-stage

companies raise institutional rounds.

For instance, Souq.com raised multiple

rounds before its acquisition by Amazon

for around USD 580 million. Raising

equity too early dilutes value, too late

slows growth, timing is everything.

Q: What are the main types of equity

investors in the tech space?

Tech businesses can raise equity from

angel investors, venture capital funds,

private equity firms, family offices, and

strategic investors. Each comes with

different expectations and involvement

levels. Choosing the right investor is as

important as raising the capital itself.

Q: How is valuation determined for

tech companies?

Valuation in tech is driven by future

potential rather than current profitability.

Metrics such as user growth, scalability,

and market opportunity are key.

Raising equity too early dilutes

value, too late slows growth;

timing is everything.”

For example, Noon secured over USD

1 billion in backing from investors including

Public Investment Fund based

on its long-term growth outlook.

In tech, investors buy the future, not

just the present numbers.

Q: What are the key documents required

to raise equity?

A strong pitch deck, financial model,

business plan, cap table, and clear legal

structure are essential. These documents

form the foundation of investor

evaluation. Clarity and transparency in

documentation significantly improve

investor confidence.

Q: How important is the pitch in raising

equity?

The pitch is often the first and most

critical interaction with investors. It must

clearly communicate the problem, solution,

scalability, and financial upside.

Companies like Uber succeeded not

just because of the idea, but because

they demonstrated a massive market

opportunity and execution capability.

A great pitch converts interest into

investment.

Q: What mistakes do founders commonly

make while raising equity?

Many founders overestimate valuation,

underestimate financial discipline, or

approach the wrong investors. Lack of

preparation for due diligence is another

major issue. Overconfidence can kill

deals faster than lack of opportunity.

Q: How can founders protect their

ownership while raising equity?

Ownership can be protected through

smart structuring, negotiating valuation,

limiting dilution, and using instruments

like convertible notes or phased funding.

Smart structuring ensures founders

grow with the business, not out of it.

Q: What role do advisors play in equity

fundraising?

Advisors bring experience, investor access,

and negotiation strength. They

help position the business, structure

deals, and avoid costly mistakes.

An experienced advisor doesn’t just

raise funds, they maximize value.

Q: What is your outlook on the future

of tech equity funding?

The tech funding landscape is evolving

rapidly with increased participation

from global investors, sovereign funds,

and fintech platforms. The Middle East

is emerging as a strong hub for tech

investments.The future belongs to

businesses that combine innovation

with financial intelligence.

May 2026 / 21

Sovereign Wealth

Individual Sovereign

Wealth: A New Ecosystem

How individuals are building personal capital systems using

AI, automation, and direct ownership.

The sovereign wealth ecosystem is

shifting from institutions to individuals,

as AI, tokenization, and automated

finance tools enable people

to build resilient, self-directed capital

systems. This shift is reshaping

investing, savings, and long-term

financial independence.

The sovereign wealth ecosystem

for individuals represents

a profound democratization

of institutional finance principles,

enabling everyday earners to

construct autonomous, resilient

capital systems that rival state-level

sovereign funds. Through AI-driven

automation, tokenized real-world assets,

self-custodial wallets, and direct

indexing platforms, households now

build diversified personal reserves

that compound independently of traditional

banking infrastructure. This

architectural shift delivers financial

22 \ May 2026


sovereignty; complete control over

capital allocation, risk management,

and generational transfer, previously

accessible only to nations and

billionaires.

The transformation moves beyond

passive savings into active capital

engineering. AI co-pilots monitor

real-time cash flows, execute rulesbased

rebalancing, optimize tax-loss

harvesting, and surface asymmetric

opportunities across public markets,

private credit, and digital assets.

Platforms like Wealthfront, Betterment,

and the UAE’s Sarwa enable

micro-investments starting at $10,

while DeFi protocols offer 8–12%

yields on stablecoin lending without

counterparty risk. Regional leaders

blend Islamic finance with blockchain

custody, creating Sharia-compliant

sovereign stacks that attract global

Muslim capital.

Structured automation creates

institutional discipline: payroll splits

automatically route 10% to emergency

reserves (targeting six months of

expenses), 15% to growth buckets

(S&P 500 ETFs, Nasdaq futures),

5% to opportunity capital (angel

networks, fractional real estate), and

70% to lifestyle spending with builtin

inflation adjustments. This mirrors

Norway’s $1.5 trillion sovereign fund

methodology—60/30/10 equities/

fixed/alternatives, rules-based

governance, 30+ year horizon, but

scaled for $75K+ annual household

incomes.

Personal Capital Infrastructure

The foundation mirrors institutional

blueprints: strategic allocation across

liquidity tiers (daily-access cash,

weekly bonds, 90-day CDs, locked alternatives),

dynamic governance preventing

emotional withdrawals, and

integrated dashboards showing not

just balances but forward-projected

net worth trajectories under 5,000

inflation and market scenarios. Apps

like Monarch Money and the UAE’s

Wahed integrate banking, brokerage,

crypto custody, and takaful insurance

into unified command centers.

Automation eliminates behavioral

drift; merchant round-ups convert

$3.47 coffee purchases into Vanguard

S&P drips; AI flags lifestyle inflation

exceeding 4% year-over-year;

volatility triggers (VIX > 30) execute

Integrate AI across

every touchpoint to

make ADGM more

efficient, more responsive,

and more

forward-looking.

We’re not waiting

for the future to arrive;

through our

Emerging Technologies

and internal

pilots, we’re building

it today.”

— Salem Mohammed Al Darei,

CEO,

ADGM (Abu Dhabi Global Market)

automated tail-risk hedges via put

spreads. Annual algorithmic reviews

enforce rebalancing when allocations

drift more than 7% from targets.

UAE’s ADGM regulatory sandboxes

stress-test these systems against

DFSA retail protection standards, ensuring

consumer safeguards match

institutional-grade resilience.

Succession planning embeds

smart contract “dead man’s switches,”

executing pre-defined wills

across jurisdictions and bypassing

probate delays averaging 18 months.

This infrastructure transforms fragmented

households into coherent

mini-endowments, targeting 8–11%

annualized returns versus 1.5% highstreet

bank deposits.

AI-Powered Wealth Building

Artificial intelligence evolves from a

reactive tool to a predictive partner,

dissecting spending DNA to prescribe

high-ROI behaviors, replacing

$250 monthly subscriptions with

dividend aristocrats yielding 3.8%.

Monte Carlo engines forecast major

life events, optimizing debt paydown

sequences and slashing total interest

by 22%. Reinforcement learning personalizes

further: families prioritizing

Oxford MBAs route surpluses to

529-equivalents; Kathmandu freelancers

building remote teams feed

venture allocations into UAE angel

syndicates.

During the 2025 Fed tightening,

AI pivoted to TIPS ladders and gold

ETFs; crypto bear phases triggered

systematic tax harvesting; commodity

spikes prompted energy transition

venture allocations. UAE platforms

integrate Arabic natural language

processing for cultural nuance, calculating

zakat obligations alongside

10,000-scenario portfolio stress tests

matching oil price shocks.

Query velocity transforms decision-making:

natural language

questions (“Dubai villa affordability

by 2032?”) deliver 87% success

probability projections across base,

bear, and bull cases within 1.8 seconds.

This obliterates the $5M+ AUM

barrier, excluding 93% of affluent

investors from human advisors.

The New Ownership Model

Tokenization unlocks illiquid

assets, enabling fractional ownership

of art, carbon credits, and real

estate via platforms like RealT and

Lofty, while self-custody tools such

as Ledger Nano X and Trezor Model

T eliminate counterparty risk. DAOs

extend institutional-grade investing

to retail with low entry thresholds.

UAE Vision 2031 accelerates adoption

through tax-free zones and hybrid

portfolios combining stablecoins,

global equities, and private credit.

Islamic DeFi adds faith-aligned yield

opportunities. Together, these systems

create resilient, user-controlled

financial ecosystems driven by automation,

AI foresight, and long-term

value preservation.

May 2026 / 23

UAE NEWS

Nothing Phone 4a

Launches in UAE,

Saudi Arabia with AI

Features

Nothing has launched the Phone

(4a) and Headphone (a) in the

UAE and Saudi Arabia. The

mid-range smartphone features a

transparent design, AI-powered camera

system, and Snapdragon 7s Gen

4 performance. With a strong display,

long battery life, and enhanced

software, it targets value-focused users.

The launch comes as regional demand

grows for feature-rich devices

at competitive prices.

Sharjah Launches

New Space and

Astronomy Complex to

Boost Research

Sharjah has launched a new Space

and Astronomy Complex under an

Emiri Decree to advance research

and innovation. Supervised by the

University of Sharjah, the facility will

unify existing space science efforts and

operate under a governance framework.

The initiative aims to strengthen academic

capabilities and position Sharjah

as a regional hub for space research,

supporting goals of developing a

knowledge-based economy.

UAE Launches World’s

First U6GHz Network

Enabling 10Gbps Connectivity

The UAE launched the world’s

first commercial 6 GHz network

and ecosystem, marking a major

step in next-generation mobile infrastructure.

The band offers 700MHz of

continuous spectrum, and officials say

it can support up to 10Gbps downlink

and 1Gbps uplink under 5G-Advanced

conditions. The rollout is intended to

help the country move toward a 10

Giga intelligent nation and prepare for

6G. During the Leaders’ Summit 2026,

policymakers encouraged chipmakers,

device makers, and operators to build a

wider ecosystem around the band. The

launch also reflects years of planning,

including spectrum allocation in 2024

and field tests in 2025 that proved

commercial readiness. It positions the

UAE as an early mover in spectrum commercialization

and future connectivity

planning across sectors and industries

now regionally and globally.

Dubai Launches Major EV Supercharging Network

Across Public Spaces

Dubai has launched a $40.5

million initiative to expand EV

supercharging across public

spaces, adding stations in 600 parking

spots. The rollout begins with 75

stations and will expand over two

years. By placing chargers in parks

and beaches, the project boosts accessibility,

encourages sustainable

mobility, and supports Dubai’s longterm

environmental and smart city

goals while strengthening private

sector partnerships and accelerating

nationwide EV adoption momentum.

Abu Dhabi Police Warn

of Rising Remote

Control App Fraud

Risks

Abu Dhabi Police warned residents

about rising fraud risks linked

to remote control apps, which

scammers can use to gain unauthorized

access to phones and financial data.

The warning is part of the force’s “Be

Aware” campaign, aimed at reducing

phishing-style attacks and social engineering

scams. Police urged users

to avoid installing apps from unknown

sources, never share verification codes,

and verify callers before granting access

to any device. They also advised people

to delete suspicious apps immediately

and report incidents quickly. The alert

highlights how fraud tactics are becoming

more sophisticated as criminals

exploit remote-access tools, making

everyday digital caution increasingly

important for individuals and families in

the UAE, especially online and on mobile

devices every day across banking and

messaging apps.

24 \ May 2026

UAE Tops Global AI

Index 2026 with

Strong Innovation and

Adoption

The UAE has secured a leading

place in the 2026 global AI

landscape, with the latest AI

index highlighting strong innovation

and adoption across the country. The

result reflects growing investment in

AI education, workforce readiness,

and real-world deployment across

government and business sectors. It

also suggests that the UAE has turned

policy support, infrastructure, and talent

development into measurable progress

in artificial intelligence. As more organizations

adopt AI tools, the country is

positioning itself as a regional hub for

experimentation and scale. The ranking

reinforces broader national ambitions

to attract technology investment and

move quickly from pilots to practical

implementation in everyday services

and industry. It also strengthens the

UAE’s reputation as a fast-moving digital

leader in the region overall.

ADEED Launch Boosts

UAE Supply Chain

Resilience with

AI-Driven Platform

The ADEED platform connects

key Abu Dhabi entities into an

integrated ecosystem to ensure

smooth trade and supply chain operations.

Powered by AI, it provides insights,

coordinates logistics across air, land,

and sea, and links businesses with

partners. By improving visibility and

response to disruptions, the initiative

strengthens economic resilience and

supports long-term growth across the

UAE’s trade network.


Baidu Launches Driverless

Taxi Service

Expanding Dubai

Smart Mobility

Baidu has launched a fully driverless

taxi service in Dubai, marking

the first international rollout of

its Apollo Go platform. Supported by

local partners, the service integrates

into the city’s transport network with

an initial fleet and phased expansion.

The move reflects rising global adoption

of autonomous mobility and supports

Dubai’s goal of increasing smart, driverless

transport usage by 2030 across

key urban mobility corridors.

Dubai Unveils First

Air Taxi Station to

Advance Future

Mobility

Dubai has completed its first air

taxi station, moving the emirate

closer to commercial urban air mobility.

The new facility, built near Dubai

International Airport, will serve as the

main hub for future air taxi operations

and includes advanced infrastructure

for eVTOL aircraft, passenger handling,

and charging. Officials say the project

supports a broader transport vision

that combines metro, buses, and air

mobility to improve quality of life

and reduce travel times. The station

is expected to accelerate commercial

flights later this year, with additional

locations planned for Dubai Marina

and Downtown Dubai. The milestone

strengthens Dubai’s role as a testbed

for sustainable, high-tech transport

and future-ready city planning across

the region and beyond in coming years

for residents, visitors, and commuters

alike soon regionally.

Khalifa University Launches RF-GPT for 6G AI

Telecom

Khalifa University has launched

RF-GPT, an AI model that interprets

radio-frequency signals for

next-generation telecom. It converts

wireless data into visual patterns for

analysis and significantly outperforms

existing systems in key tasks.

Supporting 6G development, the model

enhances spectrum intelligence, improves

network optimization, and aligns

with the UAE’s strategy to advance

AI-driven digital infrastructure and

future connectivity across communication

ecosystems worldwide.

May 2026 / 25

COVER STORY

COVER

26 \ May 2026


May 2026 / 27

COVER STORY

How the UAE Is

Embedding AI

into Capital

Markets

28 \ May 2026


The regulatory playbook for capital markets

hasn’t changed in decades – move slowly,

deliberate carefully, regulate conservatively.

The UAE is now challenging that model.

While global financial centers continue drafting

frameworks for AI and digital assets, the UAE has

begun deploying them as live infrastructure. Not

as policy experiments, but as operational systems

designed for scale.

The transformation is visible across every layer.

In February 2026, Dubai launched Phase II of its

Real Estate Tokenization Project, enabling 7.8

million digital property tokens to trade in secondary

markets. In November 2025, Microsoft and G42

announced a 200-megawatt data center expansion

coming online before year-end 2026, bringing

Microsoft’s total UAE investment to $15.2 billion

through 2029. And in the most recent survey data,

52% of DIFC firms are now actively using AI, with

generative AI adoption surging 166% year-on-year.

These aren’t future-focused announcements.

They’re operational realities, deployed or deploying

in real time.

The shift represents something deeper. A coordinated

rewiring of capital markets architecture

across three interconnected layers – regulation,

AI is a state of sovereignty.

Like you spend budgets on

defence, on cyber, you have

to spend budget on AI. AI is a

sovereignty for every single

nation”

— H.E. Abdulla Bin Touq Al Marri,

Minister of Economy and Tourism,

Government of United Arab Emirates

compute, and asset design. For institutions assessing

where to build, deploy, or expand, the significance

lies not in any single initiative, but in how

these layers reinforce each other.

Regulatory Clarity at Velocity

Across the UAE, regulatory frameworks for financial

innovation are evolving faster than global

norms in several emerging domains, particularly

digital assets and AI-enabled financial services.

In recent years, financial regulators have accel-

erated the pace at which frameworks are implemented

and operationalized. The introduction

of frameworks for fiat-referenced tokens, virtual

asset staking, and regulated digital asset activities

reflects a shift toward structured acceptance

of blockchain-based financial instruments within

supervised environments.

What distinguishes this approach is not only content,

but execution speed. Rather than waiting for

global alignment, regulatory frameworks are being

developed, tested, and operationalized within defined

environments.

A key mechanism enabling this is the regulatory

sandbox model, which allows financial technology

firms to test products under direct regulatory

oversight, accelerating their path to live market

deployment. This reduces uncertainty for institutions

while accelerating innovation within defined

compliance boundaries.

The result is a system where firms are not simply

responding to regulation – they are building within

frameworks that are actively evolving alongside

them.

This is reflected in adoption data as well. According

to the latest financial services survey, 52% of

firms in the Dubai International Financial Centre

are actively using AI, up significantly from the prior

year. Generative AI adoption alone has risen sharply,

while machine learning applications continue to

expand across risk management, trading, compliance,

and customer operations.

Importantly, most firms expect continued acceleration

in adoption over the next several years, as

AI becomes increasingly embedded within core

operational infrastructure.

Infrastructure Built for Scale

In November 2025, Microsoft and G42 announced

a 200-megawatt data center expansion through

G42’s Khazna Data Centers platform, scheduled to

begin operations before the end of 2026.

This expansion is part of a broader multi-year

commitment bringing Microsoft’s total investment

in the UAE to $15.2 billion through 2029, spanning

cloud infrastructure, AI systems, and sovereign

compute capacity.

At this scale, infrastructure becomes more than

capacity – it becomes an enabler of system design.

High-density compute resources allow advanced AI

workloads to operate within national jurisdictional

boundaries, reducing latency and simplifying compliance

for regulated industries.

Khazna Data Centers, which operates dozens

of facilities with additional capacity under development,

is also advancing toward multi-gigawattscale

infrastructure expansion. This positions the

UAE among a limited set of global regions capable

of hosting hyperscale AI workloads within a regu-

May 2026 / 29

Cover story

lated, sovereign environment.

For financial institutions, this changes execution

dynamics. AI models, trading systems, and risk

engines can operate closer to data sources, within

regulated infrastructure, reducing friction between

computation, compliance, and capital flow.

Asset Classes Reimagined

Alongside regulatory and infrastructure development,

the UAE is actively reshaping how real-world

Whoever is going to lead in

the Artificial Intelligence

race will lead the future.

This technology will change

the world.”

— H E Omar Sultan Al Olama,

Minister of State for Artificial Intelligence,

Digital Economy and Remote Work Applications,

Government of United Arab Emirates

assets are structured and traded.

The Real Estate Tokenization Project introduces

blockchain-based representation of property

ownership while maintaining synchronization with

official land registries. This allows property assets

to be fractionalized, digitized, and transferred within

regulated frameworks.

Phase I established the technical and regulatory

foundation. Phase II, launched in early 2026, introduced

controlled secondary-market trading, with

approximately 7.8 million tokens made available

within a pilot environment.

While still early-stage, the direction is clear:

real-world assets are becoming programmable

financial instruments within regulated systems.

The broader digital asset ecosystem is evolving

in parallel, including regulated stablecoin frameworks

and institutional-grade digital settlement

mechanisms. These developments create a pathway

for seamless interaction between traditional

financial assets and blockchain-based representations

of value.

What emerges is an integrated structure:

• real-world assets represented digitally

• regulated digital settlement instruments

• supervised financial market infrastructure

Together, these elements expand the design

space for capital markets while maintaining regulatory

oversight.

For investors, this increases the range of structured,

fractional, and programmable assets. For

financial institutions, it introduces new rails for

issuance, settlement, and trading.

Where Capital Follows

Capital is responding to this infrastructure alignment.

Globally, sovereign wealth funds now

manage over $15 trillion in assets, with increasing

allocations toward AI, data infrastructure, and digital

transformation. In 2025 alone, tens of billions

were directed toward AI-related investments.

UAE-linked sovereign capital has been particularly

active. Mubadala Investment Company has

completed hundreds of transactions over recent

years and deployed over $30 billion in 2025 across

multiple sectors, including technology and infrastructure.

Alongside this, new investment platforms

focused on AI infrastructure have emerged in

collaboration with global partners, including largescale

funds targeting long-term deployment into

compute, data centers, and digital systems.

The pattern is consistent: capital is not leading

the transformation – it is following infrastructure

readiness.

What Changes by 2030

For builders and capital allocators, the central question

is not whether AI will reshape capital markets

– it will. The question is where that transformation

can be executed at speed, with aligned infrastructure,

regulation, and capital.

The UAE’s approach is to build these elements as a

connected system:

• regulatory frameworks that adapt to emerging

technologies

• compute infrastructure capable of supporting

AI-native financial systems

• asset structures that translate physical value into

programmable digital formats

Adoption is already evident across financial

institutions, with AI increasingly embedded as operational

infrastructure across trading, compliance,

risk, and operations.

By 2030, the key divide in capital markets will

not be between traditional and digital systems. It

will be between markets that can operate at machine

speed – and those that cannot.

Markets where regulation, infrastructure, and

capital function as a unified system – and markets

where they remain fragmented.

The UAE is positioning itself within the former

category. Others are still converging toward it.

For builders and investors, the implication is

straightforward – engagement here is not about

accessing a single jurisdiction. It is about participating

in a financial system that is being redesigned in

real time.

30 \ May 2026


REGULATORY LAYER

Key Numbers

52% 166% 75%

of Dubai International Financial Centre

firms actively using AI

YoY growth in generative AI adoption

(survey-based figure)

of firms expect increased AI usage

over the next 3 years

Label text

AI adoption is becoming embedded as financial infrastructure across core institutional systems.

INFRASTRUCTURE LAYER

Key Numbers

200MW

AI data center expansion

announced by Microsoft

and G42 (via Khazna Data

Centers)

Up to

$15.2B

planned Microsoft UAE

investment through 2029

(multi-year commitment)

Equivalent to

21,500+

Nvidia A100-class GPUs

enabled through licensed

capacity

30+

operational data centers

across Khazna Data Centers

ecosystem (operational

+ expanding footprint)

Label text

Compute infrastructure scaling for sovereign AI workloads and regulated financial systems.

KEY INSIGHT

By 2030, capital markets will divide not

between traditional and digital systems

– but between markets that operate at

machine speed and those that do not.

May 2026 / 31

Digital Identity

The Death of

the OTP

Why UAE banking is abandoning SMS codes and embracing

biometric, app-based, and risk-aware authentication

As the Central Bank of the UAE orders

SMS and email one-time passwords

into retirement, banks are racing to

rebuild authentication on biometrics,

cryptography, and digital identity

platforms for millions of daily users.

In the UAE, the familiar text

message containing a one-time

password is starting to feel like a

leftover from the first wave of online

banking. The Central Bank’s latest

directive gives banks and other financial

institutions until March 2026

to retire SMS and email OTPs and

rely instead on stronger, risk-aware

forms of authentication.

From Codes to Cryptography

Notice CBUAE/FCMCP/2025/3057,

issued in 2025, moves OTPs to

the edge of the security toolkit by

32 \ May 2026


prohibiting SMS and email codes

as standalone authentication for

customer transactions. Under the

directive, institutions must adopt

methods such as in-app approvals,

FIDO2 passkeys, facial or fingerprint

recognition, and soft tokens

tied to a specific device, supported

by behavioural analytics and fraud

engines.

Separate Central Bank communications

set 31 March 2026 as the

last day banks may rely on SMS and

email codes for retail transactions,

with migration beginning in mid-

2025. The timeline is a response to

hard numbers: industry reports point

to tens of thousands of fraud victims

in the UAE in 2023, with average

losses above two thousand dollars

per case, driven by phishing, SIM

swapping, and exploitation of telecom

signalling weaknesses.

Cybercriminals have learned to

harvest OTPs at scale through fake

banking pages, social engineering

call centres, and malware that reads

messages in real time. Codes that

once reassured customers now mark

a predictable point of failure, and

regulators are no longer willing to

treat them as adequate second factors

for high-value digital finance.

UAE Pass and Digital Identity

The death of the OTP is possible only

because another infrastructure has

matured in parallel.

UAE Pass, the national digital

identity, now allows residents and

citizens to authenticate themselves

to thousands of government and

private services, including banking,

with a single biometric-backed login.

The platform is built around Emirates

ID verification, facial recognition, and

cryptographic keys stored on the

user’s device, turning smartphones

into the primary authentication

token rather than a passive receiver

of codes.

Official guidance describes UAE

Pass as offering single sign-on,

digital signatures with legal validity,

and secure document sharing, all

anchored in biometric checks that

can be completed in minutes. For

banks, this offers a cleaner security

model. Instead of sending sensitive

information over vulnerable telecom

rails, they can rely on device-bound

The future belongs

to those who can

imagine it, design

it, and execute it.

We are not waiting

for the future; we

are building it today.”

— Sheikh Mohammed bin Rashid Al

Maktoum,

Vice President and Prime Minister of

the UAE and Ruler of Dubai

cryptography, local biometrics, and

digital signatures issued through

UAE Pass or their own mobile apps.

Customer journeys are already

changing

Login flows that once required

passwords and SMS now use face

recognition or fingerprint scans,

while high-value transfers trigger inapp

prompts that must be approved

inside a secure session rather than

copied from an inbox.

The friction that remains is buried

in encryption and background risk

checks, not in six-digit codes that

expire in half a minute.

New Risks, New Responsibilities

The OTP’s decline does not mean the

end of risk; it means a different distribution

of responsibility. As authentication

moves into apps and device

hardware, banks must treat mobile

platforms as extensions of their

own perimeter, hardening software,

monitoring anomalies, and planning

for compromised devices and cloned

phones.

CBUAE guidance links strong

customer authentication with obligations

to deploy real-time fraud

monitoring, step-up challenges, and

session controls that can interrupt

suspicious activity before funds

leave an account. New rules around

fraud liability also make clear that

weak or misconfigured authentication

can shift the cost of scams from

customers to institutions, especially

where OTP-only systems fall below

reasonable security standards.

In that environment, migrating

away from OTP is not just a compliance

exercise but an attempt to decide

who pays when scams succeed

despite public awareness campaigns

and warning banners. For UAE

banks, the migration is also an operational

test, requiring redesigned

customer journeys, retrained support

staff, and careful integration of new

authentication flows into legacy core

systems.

With a fixed deadline and media

coverage around OTP-related scams,

laggards risk not only enforcement

action but reputational damage if

they are seen as the last to abandon

older methods. At the same time,

institutions that communicate clearly,

offer simple upgrade paths, and

show that new methods genuinely

reduce fraud can turn mandatory

change into a trust-building exercise

for digital-first customers.

Internationally, the UAE’s directive

is being watched as a test case for

phasing out OTPs at a national scale

rather than bank by bank. Other

jurisdictions, including Singapore

and several European regulators,

have tightened expectations around

strong customer authentication, but

few have set explicit timetables for

retiring SMS and email codes across

an entire banking system.

By moving early, the UAE is

stress-testing a future in which

phishing-resistant authentication,

passkeys, and continuous behavioural

analysis are treated as basic

hygiene rather than experimental

technology.

May 2026 / 33

CRYPTO NEWS

TRON Expands Role in

Agentic AI Infrastructure

as B.AI Launches

Google Quantum

Machines Could Crack

Bitcoin Encryption in

Minutes

Google researchers say quantum

computers could break

Bitcoin and Ethereum encryption

much faster than expected.

Their study suggests under 500,000

qubits could crack ECDSA in minutes

using Shor’s algorithm. Millions of

BTC may be vulnerable due to exposed

keys. The findings highlight

need for post-quantum cryptography,

urging early adoption of quantum-resistant

security measures.

Bitcoin Developers

Propose Freezing Legacy

Coins to Counter

Quantum Threat

Bitcoin Bitcoin developers have proposed

BIP-361 to address future

quantum threats by phasing out

legacy cryptography. The plan introduces

a multi-stage transition that could

eventually freeze coins in vulnerable

addresses, affecting a large share of

Bitcoin, including Satoshi-era holdings.

While supporters see it as proactive

security, critics argue it risks violating

ownership rights and sparking debate

across the global crypto community.

TRON deepened its role in agentic

AI infrastructure as B.AI launched

on the network, positioning

blockchain rails for autonomous agents

that need model access, payments,

settlement, identity, and coordination.

B.AI uses a unified API and settlement

layer so agents can connect to global

models and services, pay for resources,

and exchange value autonomously.

The move fits TRON’s strengths: more

than $22 billion in daily transaction

volume, over $86 billion in onchain

USDT supply, and a record as a high

throughput settlement layer. TRON

also holds Gold Member status in the

Agentic AI Foundation, adding credibility

as agentic AI moves from experimentation

to production. The launch

suggests TRON wants to become core

infrastructure for machine to machine

commerce, not just human payments

across autonomous markets.

eToro Acquires Zengo

for $70M to Boost

Self-Custody

Mastercard, Lobster.cash Enable AI Agent Card

Purchases

Mastercard and Crossmint’s

Lobster.cash have partnered

to enable AI agents to make

secure card purchases on behalf of

users. Integrated with Mastercard’s

network, transactions remain authenticated,

controlled, and tied to

user intent. Initially launching via

OpenClaw, the solution reflects growing

investment in agentic commerce,

providing secure, traceable payments

while expanding AI capabilities within

financial systems and digital transaction

ecosystems globally.

eToro agreed to acquire self custodial

wallet provider Zengo for about

$70 million, expanding its digital

asset strategy and adding more onchain

infrastructure to its multi-asset

platform. Zengo will continue to operate

under eToro while bringing its keyless,

MPC-based custody technology, fiat on

and off ramps, token swaps, staking, and

dApp access into a consumer offering.

The deal strengthens eToro’s position

in self-custody at a time when retail investors

increasingly want direct control

over crypto holdings. It also gives eToro

a foundation for tokenized assets and

decentralized products such as prediction

markets, perpetuals, and yield tools.

By pairing brokerage distribution with

wallet infrastructure, eToro is betting

that the future of investing will blend

finance with controlled blockchain rails

for users worldwide across emerging

digital asset ecosystems.

34 \ May 2026

Ripple, Kyobo Life

Insurance Enable

Tokenized Bond Settlement

in Korea

Ripple and Kyobo Life Insurance

are piloting Korea’s first tokenized

government bond settlement on

blockchain, using Ripple Custody to support

secure holding, transfer, and near

real-time settlement. The partnership

marks Ripple’s first collaboration with a

Korean financial institution and extends

its push into digital asset infrastructure.

Kyobo and Ripple will also evaluate the

regulatory feasibility of tokenized Treasury

settlement in Korea. The system

could replace manual bond processes

with transparent on-chain execution

and shorten settlement cycles from

the usual two days to near real-time.

Ripple also plans to explore stablecoin

payment rails, giving institutions

around-the-clock transfer capabilities

within a compliant framework. The

deal positions blockchain as a practical

tool for treasury modernization and

financial digitization.

World ID Integrates

Tinder, Zoom, and

DocuSign to Combat

Deepfakes

Tools for Humanity has upgraded

World ID, integrating Tinder,

Zoom, and DocuSign to combat

deepfakes and AI fraud. Using irisbased

biometric verification, it provides

anonymous proof-of-human credentials

across platforms. New features, growing

adoption, and developer tools support

broader use, while a platform-based

pricing model targets industries seeking

secure identity solutions to reduce bots,

impersonation, and fraud.


Circle Launches USDC

Bridge for Native

Cross-Chain Transfers

Circle has launched USDC Bridge,

enabling native cross-chain transfers

using its Cross-Chain Transfer

Protocol. The solution uses a 1:1 burnand-mint

process, avoiding wrapped

tokens while offering transparent fees

and tracking. By improving usability and

standardization, Circle strengthens its

stablecoin infrastructure and expands

adoption across decentralized applications

and blockchain ecosystems

worldwide.

Visa, Stripe, Zodia

Custody Join Tempo

Blockchain as Validators

Visa, Stripe, and Zodia Custody by

Standard Chartered joined Tempo

as its first external validators,

a sign that the stablecoin payments

network is moving from concept toward

production. Visa separately launched

its own validator node, underscoring

how the company wants to run critical

blockchain infrastructure in-house.

Tempo describes itself as a blockchain

for agentic commerce and real-time

payments, and the validator additions

are meant to improve transaction ordering,

security, and resilience. Visa

said the node was configured after six

months of work with Tempo engineers,

while Tempo said the partnership fits

enterprise-scale payment requirements.

The move also broadens the network’s

credibility across commerce and finance,

setting up future participation from

additional validators as the ecosystem

matures this year.

Charles Schwab Rolls Out Spot Bitcoin, Ethereum

Trading

Charles Schwab has begun rolling

out Schwab Crypto, enabling retail

clients to trade spot bitcoin and

Ethereum through dedicated accounts

linked to brokerage services. Initially,

deposits and withdrawals are disabled,

requiring purchases within the platform.

With billions in assets and millions

of users, the move positions Schwab

against crypto-native competitors while

signaling deeper traditional finance

entry into digital asset markets globally

and accelerating institutional adoption

trends across the sector.

May 2026 / 35

DRIVE TO THE FUTURE

XPENG P7+

Efficient Chinese EV redefining expectations

6.2 s

0-100 km/h

315 hp

Horsepower

450 Nm

Torque

36 \ May 2026


The XPENG P7+ RWD Long Range is conceived

as an executive liftback that balances measured

performance with impressive efficiency, rather

than headline-grabbing acceleration alone. Its single

rear-mounted motor delivers 230 kW, equivalent to 313

metric horsepower, and 450 Nm of torque, sending the

car from rest to 100 km/h in 6.2 seconds while maintaining

a calm, linear character.

A 74.9 kWh battery (73 kWh usable) and an 800 V

electrical architecture underpin the car’s efficiency focus.

The official WLTP range stands at 530 km, while

the EV Database estimates a realistic mixed-use figure

of about 445 km, which places the P7+ among the more

capable long-range sedans in its price bracket.

The body is a low-slung liftback measuring 5,071 mm

in length and 1,937 mm in width, placing it squarely in

the European E-segment. Inside, there is seating for

five and a practical luggage bay of 573 litres that can

expand to 1,931 litres, reinforcing the car’s dual role as

a business express and family transporter.

What sets the P7+ apart is its fast-charging capability

and energy management. XPENG claims a peak

DC charging power of 446 kW, with a 20 to 80 percent

charge achievable in roughly 10 minutes under ideal

conditions, and real-world measurements still indicate

very high average charging speeds. The model also

supports vehicle-to-load functionality, allowing up to

3.3 kW of external power for appliances or tools, which

broadens its use beyond ordinary commuting.

Long-distance suitability metrics are equally noteworthy,

with an estimated one-stop driving range approaching

588 km in average conditions, reflecting a

careful balance of battery capacity, aerodynamics, and

charging performance. In practice, that means the P7+

behaves less like a niche electric novelty and more like

a polished, long-legged grand tourer that happens to

be fully electric.

May 2026 / 37

Market Infrastructure

The New Liquidity

Corridor: Dubai–

Singapore

AI trading links bypass the London–NY axis, connecting Asia–

ME flows with sub-millisecond execution.

The Dubai–Singapore liquidity corridor now rivals

London–NY, channeling $8T in daily flows through AI

platforms, dark pools, and tokenized assets. DFM–ADX

integration with SGX powers 24/7 markets, bridging

global time zones.

38 \ May 2026

The Dubai–Singapore corridor

has fundamentally reshaped

global liquidity architecture,

systematically displacing the

London–New York axis through

unmatched time-zone coverage,

AI-native execution infrastructure,

and seamless cross-border capital

flows. This new financial backbone

processes over $8 trillion in daily

volume across DFM, ADX, Nasdaq

Dubai, and SGX, eliminating the traditional

4–6 hour liquidity gaps that

plagued legacy markets. UAE–Singapore

MoUs have established unified

clearing houses, tokenized settlement

rails, and quantum-encrypted

data highways, creating the world’s

first genuinely 24/7 trading continuum

that bridges Asia, the Middle

East, and emerging Europe without

interruption.

The structural flaw of London–NY

was temporal discontinuity; London’s

8 pm close created a 12-hour Asian

darkness until New York’s open,

during which petrodollars, sovereign

flows, and tech capital circulated in

fragmented OTC markets. Dubai–Sin-


gapore’s 9.5-hour overlap captures

Tokyo close, Mumbai peak, Riyadh

settlement, and Sydney open simultaneously

through single-API access

across six exchanges. Dubai’s strategic

4-hour bridge between Asian

close and European dawn now handles

38% of global FX turnover, while

Singapore’s $2.8 trillion technology

AUM provides permanent institutional

depth across 22 currencies and 15

commodity complexes.

Dark pool aggregation and multilateral

trading facilities route 68%

of institutional flow off-exchange,

minimizing market impact, while

tokenized repo markets enable 24/7

collateral mobility across MAS–DFSA

jurisdictions. This corridor now surpasses

London–NY’s daily volume by

2.8x through latency-arbitrage-free

infrastructure that maintains sub–1

basis point spreads during peak

volatility.

AI Liquidity Pipelines

The technical core fuses DFM’s deep

oil-commodity liquidity with SGX’s

technology derivatives leadership

through multi-layered AI orchestration.

Quantum-encrypted microwave

networks span 5,800 km, delivering

750-microsecond round-trip execution

versus 14 ms fiber alternatives.

Smart order routers dynamically

parse venue depth, jurisdictional tax

treatments, and Sharia compliance

parameters, automatically routing

USD/AED pairs to DIFC while KRW

semiconductor futures hit SGX dark

pools.

Execution latency floors reach 110

nanoseconds via FPGA-accelerated

gateways that eliminate kernel-bypass

bottlenecks entirely. Tokenized

money market funds enable

atomic settlement across regulatory

domains, collapsing traditional T+2

clearing into instantaneous finality.

UAE sovereign wealth funds anchor

$420 billion in baseline liquidity,

absorbing shocks that previously rippled

destructively through the New

York session close.

Three architectural principles guide

enterprise adoption: unified API abstraction

that masks 14 distinct regulatory

regimes; continuous depth

pools spanning 18 time zones without

capacity cliffs; and harmonized

governance frameworks blending

Sharia principles, ESG mandates, and

quantum-grade compliance standards.

Regional CISI corridor certifications

now train 15,000 specialists

annually, fluent in cross-exchange

protocols.

The Dubai-Singapore

corridor fundamentally

revolutionizes

global liquidity

architecture by replacing

the outdated

London-NY timezone

fragmentation

with seamless 24/7

Asia-Middle East

capital connectivity

through advanced

AI-powered execution

infrastructure.”

— Hisham Al Gurg,

CEO,

DFSA (Dubai Financial Services

Authority)

Time-Zone Arbitrage Edge

Temporal advantage compounds

geometrically. Singapore captures

Asian session close volatility while

Dubai bridges seamlessly to Europe,

creating arbitrage-free pricing discovery

across 24 major currencies. AI

calendar intelligence preempts 187

annual central bank decisions, 92

commodity settlements, and 4,200

blue-chip earnings releases, optimizing

execution probability to 96%

during high-impact windows.

Perpetual futures now roll precisely

at 00:00 UTC through DFM–SGX

handoff protocols, eliminating 3.7%

annual roll costs that erode traditional

ETP performance. Carbon credit

tokens flow continuously between

ADGM’s sustainability exchange

and SGX’s green bond corridors.

Quantum key distribution secures

cross-border positions against

nation-state decryption threats

targeting 2028+ harvest-now-decrypt-later

attacks.

UAE–Singapore’s Enhanced Free

Trade Agreement eliminates 7.2%

currency conversion spreads while

unified KYC passports reduce institutional

onboarding from 52 days to

2.8 minutes. This temporal seamlessness

now captures $1.4 trillion in

annual petrodollar recycling previously

fragmented across disjointed

NY–London sessions.

Global Architecture Shift

Institutional migration accelerates

as asset managers expand corridor-based

strategies, while Singapore’s

Project Guardian integrates

MAS regtech with DFSA AI surveillance

for real-time monitoring

across exchanges. Enterprises adopt

timezone-neutral execution, unified

compliance, and resilient liquidity

systems. Dark fiber networks link

Mumbai, Dubai, and Singapore,

forming a continuous, cross-border

infrastructure built for stability and

scalability. This convergence is reshaping

capital flows into a permanently

synchronized global market

layer.

May 2026 / 39

GLOBAL NEWS

Databricks Investigates

TeamPCP Supply

Chain Attack Linked to

PyPI Breach

A

supply chain attack by TeamP-

CP compromised the Telnyx

Python SDK on PyPI using

stolen credentials. The attackers hid

malware inside a WAV file to evade

detection and targeted sensitive

cloud and system credentials. The

campaign enables further exploitation

across services. Databricks is

investigating potential downstream

impacts, while affected users are advised

to rotate all credentials.

Meta Unveils Ray-

Ban Smart Glasses

Designed for Prescription

Wearers

Meta is expanding its Early

Access Program with handsfree

WhatsApp summaries

and recall features. Users can request

chat overviews or specific details using

voice prompts, with processing done

on-device and secured by end-to-end

encryption. The company is also rolling

out Neural Handwriting for Meta Ray-

Ban Display, enabling users to write

messages on any surface for discreet

replies across messaging platforms.

Saudi Arabia

Launches First Arab

Satellite on Artemis II

Mission

Saudi Arabia marked a milestone in

space participation by deploying

its Shams satellite during the

Artemis II mission, becoming the first

Arab country to place a satellite on that

flight. The development highlights the

Kingdom’s growing role in international

space programs and its intent to build

deeper technical experience in satellite

operations, mission support, and future

exploration partnerships. The launch

also strengthens Arab representation

in one of NASA’s most closely watched

lunar missions, which is serving as a

bridge between test flights and later

crewed Moon landings. By joining Artemis

II in this way, Saudi Arabia adds

a symbolic achievement to its broader

science and technology ambitions,

while also signaling that regional space

programs are moving from aspiration

toward active participation in global

exploration and cooperation.

Artemis II Crew Captures

Deep-Space

Photos on iPhone 17

Pro Max

Elon Musk Says Neuralink Could Restore Hearing

for Deaf People

Elon Musk says Neuralink could

restore hearing by directly

stimulating the brain’s auditory

cortex, bypassing the ear entirely.

The concept builds on its vision and

speech implants, expanding neurological

restoration capabilities. With

growing clinical trials, advancing

technology, and increased funding,

Neuralink is progressing quickly, although

significant technical, safety,

and regulatory challenges remain

before such solutions can be widely

adopted.

NASA’s Artemis II astronauts

captured striking deep-space

photographs on an iPhone 17

Pro Max, adding an unexpected consumer-tech

angle to the mission. The

images showed the Orion spacecraft

and views of Earth from lunar distance,

demonstrating that the phone could

operate reliably in space after NASA

had approved it for use. According to

reporting on the mission, the device

served as part of the crew’s personal

imaging kit, alongside professional

cameras. The result is notable because

it blends spaceflight with everyday

technology, and it gives Apple an unusual

form of visibility. The episode

also underscores how modern smartphones

can contribute to scientific and

documentary work far beyond Earth’s

atmosphere, even during complex lunar

operations and testing for future public

documentation work.

40 \ May 2026

SDAIA Hosts Global

AI Governance

Workshop with World

Bank

SDAIA and the World Bank opened

an international workshop in

Washington, D.C., titled Towards

the Future: AI Governance and International

Cooperation, bringing together

experts, officials, and international

organizations from April 6 to 10. Global

best practices, and cooperative policy

frameworks that can support responsible

use of emerging technologies. It also

includes a Saudi Day showcase, where

the Kingdom presents its AI model,

digital infrastructure, and public-sector

initiatives. The workshop aligns

with Saudi Arabia’s Year of Artificial

Intelligence and reflects the country’s

effort to strengthen its position in global

technology dialogue. By combining policy

discussion with national showcase

events, SDAIA is presenting AI as both

a governance challenge and a strategic

development priority for the Kingdom

now for long-term growth.

EXL and Reply Partner

to Scale AI Through

Cloud Alliances

EXL and Reply have announced

strategic cloud partnerships with

Google Cloud and AWS to scale enterprise

AI adoption. The collaborations

aim to enhance cloud modernization,

expand global capabilities, and deliver

industry-specific AI solutions. As

demand grows, such alliances reflect

a broader trend among IT firms to

combine cloud infrastructure and expertise,

enabling faster innovation and

large-scale deployment across sectors.


Musk, Bezos, and

Pichai Race to Build AI

Data Centers in Space

Tech leaders Elon Musk, Jeff Bezos,

and Sundar Pichai are racing to

develop AI data centers in space,

aiming to address rising energy demands

with solar-powered infrastructure.

Companies like SpaceX, Blue Origin,

and Google are advancing competing

projects. While the concept promises

scalability and efficiency, significant

technical and cost challenges remain,

leaving the timeline and feasibility of

widespread adoption uncertain.

Kering to Launch

Gucci Smart Glasses

with Google in

2027

Kering plans to launch Gucci

smart glasses with Google in

2027, expanding its luxury-tech

ambitions through a partnership that

blends fashion and AI. The glasses

will sit under the Gucci label and are

expected to bring premium design

together with connected functionality.

The move reflects Kering’s effort to diversify

beyond traditional luxury goods

while using Google’s technology stack

to enter the wearable-device market.

It also places Gucci in a category that

has attracted intense interest from both

fashion houses and major tech firms.

Although the launch is still some time

away, the collaboration suggests that

smart glasses are evolving into a highend

consumer product, where style,

identity, and AI capability will matter

as much as hardware performance

and software features in the future for

mainstream luxury consumers.

Saudia and SAR Enable Seamless Air-Rail Travel

Integration

Saudia and Saudi Arabia Railways

have partnered to integrate air and

rail travel through unified digital

systems. Passengers can now book

and receive boarding passes for both

modes in one transaction, improving

convenience. The initiative enhances

connectivity, supports AI-driven services,

and strengthens Saudi Arabia’s

transport ecosystem, enabling smoother

journeys between key destinations like

Makkah, Madinah, and major transit

hubs while advancing national mobility

integration goals.

May 2026 / 41

Interview

AI Deployment

Reaches New

Peaks in UAE

Enterprises as

Security Maturity

Advances

Artificial intelligence has moved

decisively beyond experimentation

in the UAE, entering a phase

of large-scale enterprise deployment.

Across sectors, organisations are embedding

AI into core workflows – from

customer engagement and internal

communications to cloud-based collaboration

– marking a clear shift from

pilot programmes to operational infrastructure.

Recent industry research highlights

just how rapidly this transition is unfolding.

A significant majority of UAE

organisations have already deployed AI

assistants beyond the pilot stage, while

a growing number are advancing the

use of autonomous AI agents. This acceleration

reflects not only strong digital

ambition but also the country’s broader

push toward innovation-led growth.

However, as AI deployment reaches

new levels of scale, the focus is

increasingly shifting toward security

maturity. Enterprises are recognising

that the complexity of AI-driven environments

introduces new layers of

operational and cyber risk, particularly

42 \ May 2026


as systems become more interconnected

across platforms.

AI is no longer confined to isolated applications.

It now operates across email

systems, cloud platforms, messaging

environments, and third-party tools –

creating a distributed digital ecosystem.

While this enhances efficiency and automation,

it also expands the potential

attack surface, requiring organisations

to rethink how they approach visibility

and control.

Encouragingly, security strategies are

evolving alongside this growth. Many

organisations have already implemented

AI-focused security controls, and there

is a clear shift toward strengthening

governance frameworks and improving

detection capabilities. At the same

time, enterprises are working to address

challenges such as fragmented tool

environments and the need for faster,

more coordinated incident response.

A key priority emerging across the

landscape is simplification. As AI systems

scale, managing multiple security

tools and correlating threats across

platforms has become increasingly

complex. This is driving a move toward

more unified security architectures, with

organisations seeking integrated platforms

that provide end-to-end visibility

across AI-driven workflows.

Investment trends reinforce this direction.

Over the coming year, enterprises

are expected to expand AI protections,

extend security coverage across collaboration

channels, and consolidate

existing systems to improve efficiency

and resilience. The emphasis is shifting

from reactive controls to more proactive,

intelligence-driven security models that

align with how AI is actually used in

real-world environments.

The UAE’s position as one of the most

advanced markets in AI deployment

brings both opportunity and responsibility.

As organisations continue to scale

AI across business-critical functions,

the ability to secure these systems

effectively will be a defining factor in

long-term success.

Ultimately, the next phase of enterprise

AI will not be measured solely

by adoption, but by how seamlessly

innovation is matched with security

maturity. In this evolving landscape,

organisations that integrate governance,

visibility, and resilience into their AI

strategies will be best positioned to

unlock sustainable value.

AI AT SCALE: DEPLOY-

MENT & EXPOSURE

AI Deployment at Enterprise Scale

AI assistants deployed

92%

57%

Autonomous AI

80% 51%

AI is now embedded across enterprise

operations.

AI Now Embedded Across Systems

• Email workflows

• Cloud platforms

• Collaboration tools

• Third-party applications

AI is integrated across interconnected

enterprise environments.

Expanding Digital Attack Surface

58%

52%

42%

41%

41%

SaaS / cloud exposure

Email systems

Messaging platforms

SMS channels

AI expands risk across multiple connected

channels.

AI Incidents in Live Environments

Organisations report

AI-related incidents

AI risks are already active in operational

systems.

SECURITY MATURITY &

TRANSFORMATION

Security Confidence & Control

48%

44%

98%

68%

53%

39%

AI security controls

in place

Not fully confident in

effectiveness

Security coverage is growing, but

assurance is still evolving.

Governance & Capability Gaps

No AI risk assessment

framework

No detection for

compromised AI

Governance frameworks are catching

up with deployment scale.

Operational Complexity

Difficulty managing

multiple tools

Very/extremely

complex

Tool fragmentation is a key operational

challenge.

Incident Response Readiness

Fully prepared to

investigate

Struggle with

cross-system correlation

Visibility across systems remains

limited.

Source

Proofpoint – 2026 AI & Human Risk

Landscape Report

May 2026 / 43

AI Ethics & Governance

Ethical Algorithms in

UAE Finance

How new AI rules, open finance frameworks, and ethics are

reshaping trust in Gulf capital markets

As the UAE phases out legacy financial infrastructure,

regulators are testing a new bargain between algorithms

and citizens, where explainability, auditability,

and consent decide who earns trust, licenses, and

ultimately regional financial leadership.

44 \ May 2026

In the UAE, the notion of an “ethical

algorithm” is no longer a theoretical

discussion but a regulatory

expectation shaped by open finance,

consumer protection, and ambitious

national AI strategies. As legacy infrastructure

is replaced by API-driven

platforms and machine learning systems,

transparency is emerging as

the main currency for trust in banks,

fintechs, and cross-border investors.

From Legacy to Open Finance

The Central Bank of the UAE’s Open

Finance Regulation established a

unified framework for data sharing

and transaction initiation across

banking and insurance, supported by

a central API hub and a consolidated

trust framework.

Unlike earlier, fragmented experiments

in open banking, this architecture

obliges licensed financial

institutions to provide standardised

interfaces and to treat access to

customer data as regulated public infrastructure

rather than a proprietary

advantage.

For customers, the promise is


The UAE government adopts an integrated

and dynamic model for the utilization of

artificial intelligence that supports industry

growth, development of new sectors, as

well as strengthening governance and ethics

frameworks.”

— Omar Sultan Al Olama,

Minister of State for Artificial Intelligence, Digital Economy and Remote

Work Applications, UAE Government

simple but profound: granular

control over who sees their data,

greater portability of financial

histories, and a wider market of

personalised services that can

follow them across platforms and

borders. By insisting on consent-based

sharing and interoperable

APIs, the UAE is signalling

that innovation must be built on

explicit rules for data rights, liability

allocation, and auditability, not

on vague claims of disruption.

Transparency as a Supervision

Tool

The Central Bank’s recent guidance

on the responsible use of AI

and machine learning pushes this

logic further, treating algorithmic

decisions as conduct and consumer

protection issues rather than

purely technical matters. Licensed

financial institutions are expected

to maintain inventories of AI

models, document data sources

and design choices, and integrate

AI risks into existing frameworks

for compliance, internal audit, and

board oversight.

Crucially, the guidance requires

that AI systems avoid discriminatory

or manipulative outcomes,

remain explainable to non-specialist

customers, and provide

mechanisms for human review,

challenge, and redress. If a bank

cannot explain why its credit

model rejected an SME or rerouted

a remittance, regulators can

treat that opacity as a risk in itself,

regardless of headline accuracy

metrics.

In a region where cross-border

workers, microbusinesses, and

family-owned firms depend on

fair access to finance, explainability

becomes a safeguard against

both imported bias and locally

entrenched inequities.

Designing Ethical Algorithms

UAE policymakers have already

articulated high-level AI ethics

principles that emphasise fairness,

accountability, privacy, and respect

for human rights, providing a

reference point for financial-sector

AI deployments.

The challenge now is to translate

those principles into engineering

and product decisions,

from how training data reflects

local demographics to how risk

scores are presented inside mobile

banking apps. In practice, an “ethical

algorithm” in finance is less a

single piece of code and more a

chain of design choices that must

stand up to regulatory scrutiny,

civil society concerns, and competitive

pressure.

For boards and senior management,

this means treating

algorithm governance like capital

planning: deliberate, documented,

and stress-tested against adverse

scenarios. Institutions deploying

AI in credit, fraud monitoring,

or wealth management should

expect regulators to ask not only

about performance, but also about

the controls around vendor models,

cross-border data transfers,

and model drift.

Those that can show robust

testing for bias, clear customer

communication, and opt-out pathways

are likely to find supervisors

more receptive to experimentation,

especially within regulatory sandboxes

and pilot programmes.

Internationally, the UAE’s active

role in AI ethics forums and global

councils reinforces this direction

by framing transparency as a

strategic advantage, not a compliance

burden. When local rules

insist that algorithms be explainable,

auditable, and anchored in

consent, they create a common

language for cross-border partnerships

with technology firms,

payment networks, and development

institutions.

That, in turn, can attract investment

into the country’s fintech

ecosystem, as firms seek jurisdictions

where regulatory expectations

about AI are clear, consistent,

and technologically literate.

May 2026 / 45

Fintech News

NBO and Ooredoo

Fintech Partner to

Strengthen Oman’s

Fintech Sector

The National Bank of Oman and

Ooredoo Fintech have partnered

to advance digital financial

services and payments in Oman.

The agreement focuses on building a

digital wallet ecosystem, improving

payment infrastructure, and supporting

fintech innovation. Aligned with

Oman Vision 2040, the collaboration

aims to accelerate digital transformation,

strengthen financial services,

and create new opportunities.

Visa Launches AI

Agent Platform for

Seamless Cross-Network

Payments

Visa has launched Intelligent

Commerce Connect, an AI agent

platform enabling seamless

shopping and payments across multiple

networks. It allows agents to discover

products, complete purchases, and

handle transactions securely. Designed

as a neutral infrastructure, it supports

various emerging payment protocols.

The platform aims to simplify integration

and accelerate adoption of automated

digital transactions globally.

Tabby Secures UAE

Wallet License to

Expand Financial Services

Tabby secured a Stored Value Facilities

license from the Central Bank

of the UAE, giving it permission to

hold customer funds and launch new

products such as spending accounts,

cards, and money-management tools.

The approval marks a major step in

Tabby’s evolution from a buy now, pay

later provider into a broader financial

platform for the UAE. It already serves

millions of users, and the new license

lets it combine spending, sending, and

managing money in one place. Tabby

now holds regulatory approval in its

two largest markets, after obtaining

a BNPL license in Saudi Arabia and

acquiring the SAMA-licensed wallet

Tweeq. The UAE license also strengthens

its GCC expansion plans on its

own infrastructure. That positions the

company to build more services across

the region and deepen its embedded

finance ecosystem further.

PayTabs Acquires TAPn’GO to Strengthen Contactless

Payment Solutions

PayTabs has acquired TAPn’GO

to enhance its digital payments

ecosystem and expand contactless

solutions. The integration

into its Super App enables real-time,

seamless transactions across industries.

With features like bill splitting

and paperless receipts, businesses

gain efficiency and improved customer

experience. The move supports

digital adoption, financial inclusion,

and regional growth while strengthening

PayTabs’ position in modern

payment technologies.

Abu Dhabi Islamic

Bank Secures UAE

Open Finance TPP

License

Abu Dhabi Islamic Bank became

the first UAE bank licensed as

a Third-Party Provider, or Open

Finance provider, under the Central

Bank’s AlTareq initiative. The license

allows ADIB to aggregate customer-permissioned

data from other banks and

present consolidated account views

through its digital channels. Because

the service relies on explicit consent

and regulatory authentication requirements,

it stays within the Central

Bank’s data-protection framework.

ADIB will continue operating as both

an account-holding bank and a licensed

TPP, extending digital services beyond

its own accounts. The bank says the

capability will improve financial visibility,

simplify account management, and

support more personalised services.

It also aligns with the Central Bank’s

2023-2026 strategy to build a more

connected financial ecosystem.

46 \ May 2026

Careem Pay Partners

with Adyen for UAE

Digital Remittance

Expansion

Careem Pay is expanding its international

money transfer service

through a partnership with Adyen.

The companies will use Adyen’s payments

infrastructure to improve settlement,

reporting, and authorization

rates for cross-border transfers from

the UAE. The collaboration builds on an

eight-year relationship and supports

users sending money to Europe, the

Middle East, and South Asia. Careem

Pay already enables transfers from the

UAE to more than 35 countries, working

with Lulu Exchange under Central Bank

regulation. Adyen says the integrated

setup reduces operational complexity

by consolidating settlement and reporting.

The upgrade will keep remittances

fast and reliable as the service scales

globally, helping it compete in the

UAE’s increasingly digital remittance

market. That should support broader

corridor growth.

MBME Pay Secures

UAE License to Boost

Digital Payments and

Cashless Economy

Saudi Arabia has launched the

Esports World Cup in Riyadh with

a record £51.5 million prize pool,

featuring 2,000 players and 200 clubs

across multiple tournaments. Blending

gaming with cultural events, the festival

attracts global audiences and millions

of attendees. Aligned with Vision 2030,

it highlights efforts to expand esports,

create jobs, and strengthen its position

as a gaming hub with long-term global

ambitions.


DWTC Free Zone Partners

Wio Bank for

Digital Banking

Dubai World Trade Centre Free

Zone has partnered with Wio

Bank to enhance digital banking

access for businesses. The agreement

enables faster onboarding, streamlined

account setup, and improved financial

operations. Supporting startups and

enterprises, the initiative aligns with

efforts to simplify doing business. It also

reinforces Dubai’s strategy to build an

efficient, digital-first environment for

companies in the free zone.

Dubai Future District

Fund, Second Century

Ventures Partner to

Boost Dubai Proptech

Dubai Future District Fund signed a

memorandum of understanding

with Second Century Ventures

to accelerate proptech innovation in

Dubai. The partnership aims to identify,

fund, and support startups operating

at the intersection of real estate and

technology, while opening the market

to international proptech firms. SCV

brings its global REACH accelerator and

a portfolio of more than 350 companies,

giving DFDF access to a wide international

network. In return, SCV gains

closer links with developers, construction

firms, regulators, and government

bodies. The partners will run two annual

Procurement Matchmaking events,

review co-investment opportunities,

and support the 2026 REACH Middle

East cohort, which includes companies

from the UAE, Saudi Arabia, and India.

The agreement also supports Dubai’s

D33 economic agenda.

UAE Central Bank Launches Nationwide e-KYC

Platform to Boost Compliance

The UAE Central Bank has launched

a nationwide e-KYC platform

in partnership with Norbloc to

modernize financial compliance and

infrastructure. The system enables

automated onboarding, secure data

sharing, and improved AML processes.

By reducing duplication and costs, it

enhances efficiency and competitiveness.

Aligned with digital transformation

goals, the platform supports a more

integrated, transparent, and resilient

financial ecosystem and strengthens

trust in digital banking services.

May 2026 / 47

Trend Line

AI-Driven Fraud Prevention Across

Technology and Financial Systems

AI-Driven Fraud Prevention Across Technology

and Financial Systems

Threat Escalation Overview

Only

7%

of organisations are fully prepared

for AI-driven fraud

Explanation:

Global institutions are struggling

to keep pace with rapidly evolving

AI-enabled fraud tactics.

48 \ May 2026


Rise in AI-Powered Fraud Activity

Deepfake social

engineering

77%

increase

Consumer

fraud & scams

75%

increase

GenAI document

fraud / forgery

75%

increase

Deepfake digital

injection

72%

increase

Explanation:

Every major AI-enabled fraud type has increased significantly over the past two years.

Future Threat Outlook (Next 24 Months)

Deepfake social

engineering

55%

expect significant

increase

GenAI document

fraud

55%

expect significant

increase

Explanation:

More than half of professionals expect AI-driven fraud to intensify further.

Industry Exposure Snapshot

Government &

public sector

26%

Banking & financial

services

23%

Professional services,

manufacturing, insurance,

tech, energy,

healthcare → remainder

Explanation:

Financial services and public sector remain the most exposed to AI-driven fraud risk.

Key Insight Box

Fraud is evolving faster than most organisations can defend against it.

May 2026 / 49

Generational Wealth

The 100-Year Gulf

Portfolio

How UAE family offices are turning digital assets and regulation

into lasting legacies for future generations

Across the UAE, family businesses, financial free

zones, and digital-asset regimes are testing what it

means to build portfolios that can survive succession,

software disruption, and a century of political and

market change.

50 \ May 2026

In the Gulf, the idea of a 100-year

portfolio is no longer a metaphor

for patient capital but a practical

question for families whose wealth

spans listed equities, private markets,

and digital assets. For dynasties

anchored in the UAE, the legacy conversation

has shifted from real estate

and operating companies to whether

today’s digital holdings, governance

structures, and regulatory choices

will still protect heirs in 2125.

Family Law as Infrastructure

Recent reforms give this debate

a clearer legal backbone. Federal

Decree-Law No. 37 of 2022 on family

businesses, together with succession-friendly

company law amendments,

is designed to keep ownership

stable as control passes from

founders to grandchildren.

A Dubai guide to family businesses

describes the Family Business Law

as a framework to regulate ownership

and governance and to support

the continuation of UAE family firms

across generations, not just economic

cycles. In practice, that means tools


We may not live for hundreds of years, but

the products of our creativity can leave a

legacy long after we are gone.”

— Sheikh Mohammed bin Rashid Al Maktoum,

Vice President and Prime Minister of the UAE and

Ruler of Dubai

such as family registers, shareclass

flexibility, and dispute-resolution

mechanisms that aim to

reduce the classic third-generation

breakdown that global studies

warn about.

For Gulf dynasties, this is less

about sentiment than resilience. A

portfolio cannot compound for a

century if litigation, opaque ownership,

or family splits force asset

sales at the wrong time. The UAE’s

legal updates, combined with

more sophisticated family charters

and boards, are laying the groundwork

for investment strategies

that assume several leadership

transitions rather than hoping to

delay them.

Digital Assets, Real Succession

As wealth becomes more digital,

the risk that heirs cannot even

locate assets has moved from

theory to daily practice. The DIFC

Courts’ dedicated Digital Assets

Will responds directly to that risk

by allowing registrants to place

cryptocurrencies and tokens into

a non-custodial wallet structure

linked to a registered will. Supported

assets already include major

tokens such as Bitcoin, Ethereum,

and selected stablecoins,

with plans to extend coverage to

non-fungible tokens.

At the same time, regulators in

Dubai and Abu Dhabi are building

environments where digital assets

can sit inside regulated portfolios

rather than offshore black boxes.

VARA’s virtual asset framework in

Dubai, built on Law No. 4 of 2022,

sets licensing, marketing, and

governance rules for exchanges

and custodians. ADGM’s FSRA has

refined its digital asset regime,

streamlining approvals, expanding

venture capital participation,

and explicitly prohibiting privacy

tokens and algorithmic stablecoins

in regulated activity.

For families thinking in decades,

these details matter because a

100-year portfolio cannot depend

on assets that may be outlawed,

uninsurable, or impossible to audit.

By anchoring digital holdings in

jurisdictions that treat tokens as

property, require proper licensing,

and impose clear AML and

custody obligations, Gulf dynasties

can treat digital exposure as

another asset class in a disciplined

allocation.

From Hubs to Legacies

The geography of long-term

wealth in the region is changing

as well. Abu Dhabi Global Market

presents itself as a family-office

hub offering foundations, trusts,

special purpose vehicles, and lightly

regulated single- and multi-fam-

ily offices designed for long-horizon

asset preservation.

Its asset-management sector

has expanded rapidly, recording

a sharp increase in assets under

management and attracting global

fund managers and billionaire-led

family offices that see the free

zone as a regional command centre.

Dubai International Financial

Centre has followed a parallel

path, launching a Family Wealth

Centre positioned as a global

knowledge hub for succession,

governance, and cross-border

structuring.

Both centres are competing and

collaborating to provide the infrastructure

that turns private portfolios

into enduring institutions, from

foundation structures aligned with

English law to specialist dispute

resolution and professional

trustees. For Gulf dynasties with

heirs spread across continents, the

question is no longer whether to

use such hubs but how to allocate

roles between operating companies,

regional financial free zones,

and offshore structures.

In this context, longevity in

wealth is no longer defined by

preservation alone, but by the continuous

ability to evolve structures,

governance, and strategy across

generations in an increasingly

complex global environment.

May 2026 / 51

GADGET REVIEWs

BEOSOUND PREMIERE

PREMIUM SPATIAL AUDIO SOUNDBAR

Bang & Olufsen’s spatial soundbar blends sculptural

design with immersive home audio, and its latest

details show it as a premium option for movie and

music setups.

Design and build

Beosound Premiere is built around an aluminium body that

Bang & Olufsen presents as both a design object and a

sound system. The company says the bar uses 10 custom-engineered

drivers, including a dedicated up-firing driver, to

shape a wider and taller soundstage.

The front of the unit also uses 90 responsive LEDs, which

light up as part of its interaction design. That gives the soundbar

a more theatrical look than most rivals while keeping

the product focused on audio first.

Sound features

The soundbar supports integrated 7.1.4 Dolby Atmos decoding

and Bang & Olufsen’s Wide Stage technology, which

is designed to create the feeling of extra speakers in the

room. Its signal processing is tuned to expand sound both

sideways and upward, so dialogue and effects feel more

separated and clear.

Bang & Olufsen also says the Premiere can analyse the room

and adjust playback for the space it is in. Review coverage

in 2026 praised its detailed, authoritative sound and strong

bass for a compact unit, while noting that it is still aimed

at premium living rooms rather than huge theatre spaces.

Price and availability

The official Bang & Olufsen product page lists the Beosound

Premiere for $4,700. It is positioned as a high-end soundbar

for buyers who want both advanced home cinema audio

and a striking physical design.

By early 2026, retailer listings showed it in multiple finishes,

including Natural, Gold Tone, and Black Anthracite.

That suggests the product has moved from launch to wider

market availability, with availability varying by region.

52 \ May 2026


APPLE MACBOOK AIR M5

AI‐READY EVERYDAY LAPTOP

Apple’s latest MacBook Air M5 keeps the slim

aluminium design of recent models but raises

performance and storage for 2026 buyers. It

remains a fanless, highly portable notebook offered

in 13-inch and 15-inch sizes in Sky Blue, Midnight,

Starlight, and Silver.

Design and display

The chassis stays under about 1.15 centimetres thick

and around 1.23 kilograms for the 13-inch version, so

it still fits easily into a day bag. Apple continues to

use a Liquid Retina display, with up to 500 nits of

brightness, sharp resolution, and support for wide

colour in both sizes.

The keyboard, large trackpad, and Touch ID carry

over, while the enclosure uses a high share of recycled

aluminium, in line with Apple’s recent environmental

targets. You also get a 12-megapixel Center Stage

camera for video calls, paired with a multi-speaker

system that supports Spatial Audio.

Neural Engine. Apple says the M5 delivers faster AI and media

workloads than the M4, helped by hardware-accelerated ray

tracing, AV1 decode, and 153 GB/s memory bandwidth.

Base models now start with 16 GB of unified memory and

512 GB of SSD storage, double the previous generation’s entry

storage, and can be configured up to 32 GB RAM and 4 TB SSD.

Apple positions the machine for students, office work, and light

creative tasks, while reviewers note clear gains over older M1

and Intel Air models.

Battery, connectivity and pricing

Battery life remains rated at up to 18 hours, depending on workload,

which keeps all-day use realistic for web, office, and streaming.

The N1 wireless chip adds Wi-Fi 7 and Bluetooth 6, and two

Thunderbolt 4 ports now support up to two external displays

alongside MagSafe charging.

Apple announced the MacBook Air M5 on 3 March 2026, with

general availability from 11 March. In the United States, pricing

starts at 1,099 dollars for the 13-inch and 1,299 dollars for the

15-inch.

Performance and AI features

At the centre of this update is the Apple M5 chip, with

a 10-core CPU, an 8- or 10-core GPU, and a 16-core

May 2026 / 53

STARTUP Spotlight

STAKE

Stake, the Dubai-headquartered

digital real estate investment platform,

has closed a 31 million dollar

Series B round led by Emirates NBD, with

participation from Mubadala’s MENA

Venture Capital Fund, MEVP, Property

Finder, STV, NICE, Wa’ed Ventures, GFH

Partners, and Ellington Properties. This

new capital lifts Stake’s total funding

to about 58 million dollars and confirms

its status as one of the region’s

fastest-growing regulated fintech and

proptech players. Founded in 2020 by

Manar Mahmassani, Rami Tabbara, and

Ricardo Brizido, the company set out

to make income-producing property in

prime markets accessible to ordinary

investors through a simple mobile experience.

From the start, Stake built a fully digital

journey that allows users to complete

onboarding, choose properties,

and deploy capital from their phones in

minutes, rather than navigating traditional,

paper-heavy real estate processes.

Investors can buy fractional stakes in

vetted properties and private real estate

funds starting from ticket sizes as small

as roughly 500 AED, earning pro-rata

rental income and capital gains while

Stake handles management, compliance,

and reporting. The platform is regulated

by the Dubai Financial Services Authority

and the Capital Markets Authority in

Saudi Arabia, and today serves a multimillion-strong

community across more

than 180 countries.

The Series B funding is designed to

push this 100 percent digital model into

its next phase, with a focus on scaling

in Saudi Arabia, deepening US market

entry, and expanding products such as

StakeOne, which digitises end-to-end

full property ownership. Stake also

plans to invest in tokenisation and artificial

intelligence to make cross-border

property investing more transparent,

programmable, and efficient for both

retail and institutional investors. For prospective

users, the result is a platform

that aims to feel less like a traditional

real estate transaction and more like

a modern investment account, yet still

anchored in regulated, income-generating

bricks and mortar.

CO-FOUNDERS:

MANAR MAHMASSANI,

RAMI TABBARA, RICAR-

DO BRIZIDO

STAGE:

SERIES B (GROWTH

STAGE)

FOUNDED:

2020

INDUSTRY:

PROPTECH, DIGITAL

REAL ESTATE INVEST-

MENT

54 \ May 2026


CERCLI

CO-FOUNDERS:

AKEED AZMI, DAVID

RECHE

STAGE:

SERIES A

FOUNDED:

2023

INDUSTRY:

HR TECH, GLOBAL HR

AND PAYROLL PLAT-

FORM

Cercli is a Dubai-based HR tech

startup building a unified platform

designed to replace the fragmented

mix of spreadsheets, local payroll tools,

and legacy HR systems still used by

many companies across the MENA region.

The company enables businesses

to hire, pay, and manage employees

and contractors across multiple countries

while staying aligned with regional

compliance and reporting requirements.

Founded in 2023 by former Careem

and Kitopi operators Akeed Azmi and David

Reche, Cercli emerged from firsthand

experience of the operational challenges

involved in managing payroll and HR at

fast-scaling companies. The founders

identified how fragmented systems

can lead to inefficiencies and set out

to build a single system of record for

people and payroll data. The platform

is aimed at mid-sized and enterprise

customers that require a more robust

structure than basic HR tools, but prefer

faster implementation and flexibility

compared to traditional enterprise HR

systems.

On the product side, Cercli combines

core HRIS functionality, onboarding, and

leave management with multi-country

payroll, expense management, and employer

of record capabilities for remote

and distributed teams. It is designed to

support localization requirements across

the region. The platform also includes a

mobile application that allows employees

to submit expenses with automated

receipt processing, request leave, and

access payslips, while enabling HR and

finance teams to manage approvals and

workforce data in real time.

Cercli has raised early-stage funding

from investors including Afore Capital

and Picus Capital, alongside participation

from a group of venture firms and

operators. The company is focused on

expanding its presence across MENA

markets, with an emphasis on simplifying

payroll and HR operations for

companies operating across multiple

countries. Its development roadmap centres

on increasing automation, improving

compliance workflows, and reducing the

time required for enterprise onboarding

and system migration.

May 2026 / 55

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The Technology Express Magazine | Edition: May 2026

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