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Crypto

Bitcoin Suisse secures Abu Dhabi licence, targets UAE institutions

Financial firm Bitcoin Suisse has obtained a financial services permit from Abu Dhabi Global Market, allowing it to offer regulated digital asset services in the United Arab Emirates. The licence was granted to group subsidiary BTCS Middle East, enabling it to serve institutional and professional investors. The approval follows a multi-stage process with the Financial Services Regulatory Authority. The company said it will provide custody, trading and exposure management services and may support access to tokenised real-world assets.

Finance

Korea FX market goes 24 hours, putting brokerage risk management to test

South Korea’s onshore won-dollar foreign exchange market shifts to 24-hour trading from July 6, allowing exchange rates to adjust overnight to global events and U.S. data. Authorities and the Bank of Korea expect better access for foreign investors as won funding and FX become available in New York and London hours. Brokerages face demands for overnight currency conversion, tighter foreign-currency position management and stronger dealing, systems and staffing.

AI & Enterprise

Neocloud market shifts as SoftBank and Meta enter

The neocloud market for AI-focused cloud computing is shifting as major players enter. SoftBank Group and its telecom unit SoftBank plan to start a neocloud business next fiscal year, renting AI computing resources to U.S. companies. Meta is also stepping up plans to use its data centres for cloud services. Nvidia is expanding support for smaller cloud firms that lease its GPUs. Big cloud companies are also building forward deployed engineer teams for enterprise AI.