The 2nd edition of Dubai FinTech Summit (DFS) organised by Dubai
International Financial Centre (DIFC), under the patronage of His
Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First
Deputy Ruler of Dubai, Deputy Prime Minister and Minister of
Finance of the UAE, and President of DIFC, concluded with
resounding success. The 3rd edition of the Dubai FinTech Summit
will be held on 7-8 May 2025, also under the directives of His
Highness Sheikh Maktoum.
Highlights:
- The 3rd edition of the Dubai FinTech Summit to be held on 7-8 May
2025, under the directives of His Highness Sheikh Maktoum.
- The 2nd edition of Dubai FinTech Summit attracted over 8,000
visitors from 118 countries around the world.
- Over 50 Memorandum of Understandings (MoUs) were signed during
the Summit with global financial leaders.
- More than 20 top investment management firms with investments in
12,000 companies participated in the Summit.
- Nik Storonsky, Founder and CEO of Revolut inked expansion plans
in the MEASA region, marking a significant step towards fostering
financial inclusion through cutting-edge technology.
- State Street Global Advisors' President and Chief Executive
Officer, Yie-Hsin Hung confirmed the reopening of its Dubai
offices.
- Dyna.Ai, the Singapore headquartered firm launched operations
across Asia, the Middle East, Africa, Europe, North America and
Latin America, with offices planned in the UAE, Saudi Arabia, and
Nigeria.
From government officials and policy makers to start-up founders,
the two-day Summit, held at Madinat Jumeirah, brought together an
unprecedented gathering of more than 8,000 decision-makers from 118
countries around the world. These included over 300 thought leaders
participating in 125 discussions across five stages and over 200
exhibitors showcasing cutting-edge technologies. Over 20 government
dignitaries were also in attendance, including the Mayor of Seoul,
Central Bank Governors, and Deputy Governors.
His Excellency, Essa Kazim, Governor of DIFC, commented: "The Dubai
FinTech Summit is not just a gathering, it is a platform for
transformative discussions and collective action. The Dubai FinTech
Summit stands as a beacon of impact, progress, and collaboration,
creating unprecedented opportunities for growth and innovation.
Dubai is at the forefront of shaping the future of finance and will
continue to strengthen its position as a leading global hub for
FinTech firms."
Arif Amiri, Chief Executive Officer at DIFC Authority, opened day
two of the Summit, followed by two fireside chats with His
Excellency Helal Saeed Al Marri, Director General, Department of
Economy and Tourism, and Yie-Hsin Hung, President and Chief
Executive Officer at State Street Global Advisors.
During his opening remarks, Arif Amiri, Chief Executive Officer at
DIFC Authority, said: "Today, we are experiencing an extraordinary
period of technological transformation where FinTech defines how we
transact, how we save, and how we manage our financial lives.
FinTech is also defining how traditional financial services
companies operate. In recent years, we have seen FinTech revenues
grow globally six-fold. We have also seen growing mainstream
acceptance of cryptocurrencies, which is allowing for its market
capitalisation to exceed USD 3trn. This year, FinTech is again
expected to garner and secure an additional 5 per cent of global
financial service revenues. In the next two years, digital payments
are expected to increase over 10trn dollars, and by 2030, north of
25 per cent of banking valuations are expected to be driven by
FinTech.
Dubai FinTech Summit offers a unique platform to explore the
opportunities ahead of us, which is why, at DIFC, our strategy is
firmly focused on being at the heart of this FinTech revolution.
During our 20 years of operations, we have always embraced
innovation. It is part of our X factor. We do not simply talk about
it but engage with it; with the talent, with the investors and the
regulators to execute it. Our visionary leadership has always
enabled Dubai and DIFC to take a leading role in driving the future
of finance and innovation. For this reason, we have built the
region's most comprehensive proposition that enables our clients to
do and achieve great things in a place that integrates FinTech
firmly into its DNA. In a place that attracts talented
entrepreneurs, encourages collaboration, and provides global
connectivity: a gateway between the east and the west, and a true
nexus point for the global markets."
Over 50 international associations participated in the Summit this
year, including Africa FinTech Network, Business France, FinTech
Philippines Association, European Blockchain Association, Global
FinTech Alliance (GFA), Hong Kong FinTech Industry Association,
International Digital Economy Association, Invest Seoul, Luxembourg
Institute of Financial Technology (LHOFT), Swiss Finance &
Technology Association and Women in Web3 Association, among
others.
This year's Summit saw the participation of over 1,000 investors,
including more than 10 top executives from some of the world's
biggest banks, managing over USD 7trn in assets under management
(AUM). In addition, over 40 FinTech and blockchain unicorns, with a
combined market capitalisation of over USD 400bn were also
present.
During the two days, over 30 side events were hosted by local,
regional, and international partners of the Summit.Panels on the
second day included a deep dive into some of the most pressing
topics within the financial technology landscape, ranging from High
Interest Rates and Macroeconomic Volatility, Institutional Adoption
and Regulatory Clarity - Crypto's Path Forward, and D33 - A Decade
of Economic Transformation, among others.
Dubai FinTech Summit also witnessed the signing of more than 50
Memorandum of Understandings (MoUs) with global financial leaders,
as well as several key announcements from attending businesses.
Nik Storonsky, Founder and CEO of Revolut announced expansion plans
in the MEASA region, marking a significant step towards fostering
financial inclusion through cutting-edge technology. Revolut is a
global neobank and financial technology company with headquarters
in the UK that offers banking services for retail customers and
businesses.
Recognising the potential of operating in the region's largest
financial ecosystem, State Street Global Advisors' CEO, Yie-Hsin
Hung, also announced that the firm is making a welcome return to
DIFC. Based on the region's expanding opportunities, coupled with
DIFC's 20-year track record as a leading hub for finance and
growth, DIFC has continued to draw in an extensive list of banks,
advisors, high-net-worth individuals, family offices, and sovereign
wealth funds seeking exposure to the region's fast-growth markets
within a future-forward regulated environment.
Dyna.Ai, the Singapore-headquartered firm announced the launch of
its operations across Asia, the Middle East, Africa, Europe, North
America and Latin America, aiming to transform businesses with AI.
The company offers a suite of solutions for digital banking, risk
management, audience communication, and employee productivity to
address current financial challenges. In the MEA region, offices
will be opened in the UAE, Saudi Arabia, and Nigeria. Dyna Athena,
a newly launched AI platform, will provide revolutionary
communication and interaction between customers, which will include
features such as text-to-speech, language and speech processing.
Dyna Avatar, a brand-new humanoid customer assistant, capable of
real-time voice-activated conversations in Arabic, English,
Chinese, Japanese and Thai, was also launched at the Summit.
Among several notable presentations, Crypto Oasis provided an
insightful update on the UAE's dynamic and ever-evolving blockchain
ecosystem. According to the presentation, active companies have
surged by 13 per cent year-on-year, reaching 2,040 organisations,
with a healthy mix of 71 per cent native and 29 per cent non-native
blockchain companies contributing to the ecosystem. There has also
been a marked increase in the industry workforce, with over 10,600
individuals working in the blockchain space. One of the key factors
driving the crypto industry has been an increase in regulatory
clarity, which has helped to attract global brands such as Bybit,
Crypto.com, and OKX, which each received Virtual Asset Service
Provider (VASP) licenses from VARA.
In line with the Dubai Economic Agenda (D33) to position Dubai as
the top four global financial hubs by 2033, DFS is designed to
encourage cross-border collaboration and innovation, central to
transforming the global FinTech sector. The Summit presented a
unique opportunity for attendees to explore emerging FinTech trends
and their potential to drive financial progress in the MEASA
region.
The 2nd edition of the Dubai FinTech Summit was supported by over
150 global corporate partners. Visa as Founding Partner &
Co-Host; Emirates NBD as Premium Banking Partner; e& life as
Powered By sponsor; Commercial Bank of Dubai (CBD) as Strategic
Banking Partner; Finvasia as Lead Sponsor; SC Ventures as Strategic
Venture Partner; Dynatech AI as Powered By sponsor; and Mashreq as
Diamond Sponsor, among others.
About Dubai FinTech Summit
Dubai FinTech Summit is an annual mega event organised by the Dubai
International Financial Centre (DIFC), the leading global financial
centre in the Middle East, Africa and South Asia (MEASA) region.
The 2nd edition of the Dubai FinTech Summit will bring together
over 8,000+ global industry leaders, 1,500+ investors and policy
makers, signalling increased appetite for growth opportunities in
the region.
Dubai FinTech Summit signals new wave of financial innovation,
opportunity, transformation, and growth for the international
financial services sector. As a rising FinTech hub, Dubai is also
spearheading the evolution of the financial services industry, with
investments in FinTech projected to grow by 17.2 per cent CAGR to
USD949 billion from 2022 to 2030. The Summit aligns with the Dubai
Economic Agenda D33's strategic goal of propelling Dubai into the
ranks of the top four global financial hubs by 2033.
The expanded programme of Dubai FinTech Summit is set to exceed
expectations by delving into key tracks, including the future of
FinTech, embedded and Open Finance, climate finance, Web3 and
digital assets. The summit stands as a thought leadership-driven
platform, addressing industry challenges head-on and championing
innovation.
Visit www.dubaiFinTechsummit.com
#Difc #DifcInnovationHub #DFS2024 #FinTech
For further enquiries, please contact:
Samia Ahmad Assistant Manager
Marketing at DIFC Innovation Hub
E: samia.ahmad@difc.com
Phone: +971 4 362 2657
Source: trescon
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