Markets | BingX Blog

How Dubai’s Crypto-to-AED Stablecoin Pilot is Paving the Way for Web3 Payments

In a major leap toward real-world Web3 integration, the Dubai government has successfully completed a pilot program that allows payments in cryptocurrency converted into AED-backed stablecoins, marking one of the first government-led initiatives in the world to enable crypto transactions for official services. In collaboration with the Dubai Department of Finance (DoF), the Dubai Land Department (DLD), and supported by the Digital Dubai Authority via Dubai Pay, the trial enabled payments of certain government service fees using major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), converted into an AED-pegged stablecoin. This initiative aligns with Dubai’s long-term vision to become a fully digital economy, integrating financial innovation with public-sector services under the “City-as-a-Service” concept. How the Crypto-to Stablecoin Pilot Program Works The pilot program carried out by DLD was for the issuance of a property map service. These payments were

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What du’s “Cloud Miner” Really Mean for Everyday Crypto Users in the UAE

UAE telecom giant du has launched “Cloud Miner”, a new cloud-based Bitcoin mining service designed to make cryptocurrency mining simple and accessible for everyone in the Emirates, requiring no specialized hardware or technical expertise. Launched under du’s technology-focused sub-brand du Tech, the service lets users rent mining power directly from du’s local data centers through a subscription model. Users on the platform can bid for mining contracts through online auctions. More Flexible Mining The company’s latest sub-brand, Cloud Miner, offers a subscription service for Bitcoin mining. Users can rent computational power (hash rate measured in TH/s) hosted in du’s UAE-based data centers. Each contract runs for 24 months, and du manages installation, cooling, operations, and energy management, and participants are informed exactly what capacity they’re renting and what to expect in terms of output. Key details of du’s offering include

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Week #40: Cryptocurrencies with Recent Developments to Watch This Week

This week brought notable developments across the crypto landscape, from governance experiments in stablecoins to expanded DeFi roadmaps and new AI verification frameworks. Here’s a closer look at the projects making headlines.   Polkadot Eyes a Native Stablecoin Polkadot is considering one of its most ambitious experiments yet: a native algorithmic stablecoin backed exclusively by DOT. The proposal outlines a new token called pUSD, which would be built on the Honzon protocol for collateralized debt positions. The idea is to reduce Polkadot’s reliance on stablecoins like USDT and USDC by creating an ecosystem-native alternative. Early community response has been strong, with over three-quarters of current votes supporting the proposal, though more than three weeks remain before voting closes. If successful, the project could position Polkadot as one of the first major networks to launch a stablecoin fully tied to its native token, a move that historically has stirred both exciteme

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Tokenization Grows Up: Nasdaq Pilots and Chainlink Railways

The tokenization of real-world assets has long been heralded as one of crypto’s most promising frontiers. In 2025, it’s moving beyond concept into regulated practice. With global markets and regulators generally moving towards clearer rules and structures for blockchain-based markets, Nasdaq filing for tokenized stock offerings, and Chainlink building out the “railways” for trusted oracle data, the infrastructure for digital equities is beginning to take shape.   Market Infrastructure: Nasdaq and Chainlink Nasdaq recently filed to pilot tokenized securities alongside its traditional listings. This move would allow investors to trade shares both in legacy form and as blockchain-based tokens, bringing 24/7 market access to what has historically been a rigid schedule. If approved, it would represent a massive step toward normalizing on-chain equities within mainstream finance. Supporting this shift are infrastructure providers like Chainlink, which has been building the oracle attest

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Week #39: Cryptocurrencies with Recent Developments to Watch This Week

The week brought a wave of announcements across the blockchain ecosystem, ranging from Ethereum’s next major hard fork to new partnerships and record-breaking claims in the Layer 1 race. Together, these updates highlight how different projects are shaping the future of scalability, infrastructure, and real-world adoption. Sei Partners with Aethir for AI Computing Power Sei, the Layer 1 chain known for its ultra-fast 400 ms transaction settlement, has entered into an exclusive partnership with Aethir to provide decentralized GPU cloud power for AI projects. Aethir’s infrastructure spans 93 countries with over 435,000 GPU containers already serving AI, gaming, and Web3 firms. This collaboration positions Sei as more than just a high-throughput blockchain: it could become a hub for enterprise-level AI applications. Historically, projects that combine scalable infrastructure with AI capabilities have attracted both developer interest and liquidity inflows, signaling long-ter

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Why Institutional Crypto is Booming in the Middle East

The Middle East is emerging as an important region for global crypto adoption, with much momentum being driven by institutional movements and clear regulations. What was once a niche interest has evolved into a large institutional sector, driven by forward-thinking regulations, economic diversification efforts, and innovative applications of blockchain technology. In 2025, the region experienced explosive growth, with the UAE alone recording $34 billion in crypto inflows, resulting in a 42% year-on-year increase, positioning the UAE as a top contender in the digital asset space. Overall, the Middle East attracted an estimated $338.7 billion in inflows, which in global terms would make it the world’s seventh-largest crypto economy. This growth isn’t just retail-driven; institutions are joining in, fueled by strategic visions like the UAE’s ambition to make crypto its second-largest sector by 2030. Progressive Regulations Fueling Growth One of the primary catalysts fo

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The DOGE ETF: Meme Coins Meet Wall Street

The meme coin world may soon notch a historic milestone. The Rex Shares-Osprey Dogecoin ETF (ticker: DOJE) is preparing for its long-awaited debut in the U.S. If it goes live, DOJE would become the first U.S. exchange-traded fund designed around a meme coin, signaling that even the quirkier corners of crypto are finding a place in traditional finance. A Delayed Start, but Momentum Builds Originally slated to roll out alongside a batch of politically themed and altcoin-focused ETFs last week, DOJE’s debut was unexpectedly delayed. While the timing of such ETFs can, at times, be unpredictable and uncertain, anticipation around the launch has already appeared to offer some fuel for Dogecoin’s recent gains, with the token climbing double digits over the past month. How Exactly Would It Work? At its core, DOJE isn’t a spot ETF. Instead, it plans to use a subsidiary to gain exposure to Dogecoin through futures and derivatives. This structure allows investors to speculate

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Week #38: Cryptocurrencies with Recent Developments to Watch This Week

Dogecoin: Institutional Moves Spark a Rally Dogecoin has been one of the standout gainers this week, climbing nearly 20% to reach its highest level in almost a month. Several fresh catalysts fueled this rally. A publicly traded Dogecoin treasury disclosed $125 million in DOGE purchases, signaling confidence in the meme coin’s staying power. At the same time, Rex-Osprey is set to launch a Dogecoin ETF in the U.S. on Friday, marking a new milestone in institutional access. Historically, institutional adoption and ETF approvals have helped tokens reinforce relevance in their respective market cycles, but also can help to position them alongside blue-chip digital assets like Bitcoin and Ethereum, which have previously experienced similar developments. Analysts attribute DOGE’s recent boost to a combination of direct treasury purchases and its forthcoming ETF, where it outperformed most top-10 peers over the past week. Despite some influence from some broader market headwinds

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UAE Goes Full Crypto-Mode: Predicting Crypto will become their Second Largest Sector in 5 Years

The United Arab Emirates (UAE) has long been recognized as a global hub for trade, finance, and innovation. The crypto industry in the UAE is evolving, and recent expert predictions suggest that the blockchain and crypto industry could surge to become the nation’s second-largest economic sector, trailing only behind energy within the next five years. These predictions underscore the UAE’s strategic pivot toward digital assets as a cornerstone of economic diversification, moving beyond its oil-dependent roots. Adoption Accelerating Growth Beyond regulations, the UAE is witnessing tangible crypto integration into everyday sectors. For instance, major airlines like Emirates and Air Arabia have begun accepting cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) for flight bookings, signaling a shift toward stablecoin and digital asset use in travel. This development boosts transaction efficiency in a tourism-driven economy. Alongside mainstream adopt

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Safeguarding Neutrality: Ethereum's FOCIL and How It Ensures Blockchain Neutrality

Ethereum’s core strength has always been its neutrality—the “dumb pipe” ethos that any valid transaction should be processed, no questions asked. But as block production becomes increasingly concentrated among a few builders, that neutrality faces risk. Enter FOCIL (Fork-Choice Enforced Inclusion Lists), a technical proposal designed to strengthen censorship resistance at the protocol level. What Is FOCIL? Under standard operation, Ethereum selects a single proposer per slot to build each block—creating a scenario where one actor holds veto power over transaction inclusion. FOCIL changes this by introducing multiple proposers per slot—specifically, 17. Only one proposer retains the privilege to determine the transaction order, but crucially, the other 16 must have their chosen transactions included somewhere in the block. These auxiliary proposers bear a much lighter workload, such as merely validating transactions—not calculating full state

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Worldcoin’s Next Phase: From Orbs to Treasuries

Worldcoin (WLD) is entering a new chapter – one where institutional treasury strategies and advancing privacy infrastructure are reshaping its narrative from a speculative token to a network aiming to be grounded in sustained demand. Institutional Treasuries Signal Long-Term Anchoring A seismic shift arrived in recent days, when Eightco Holdings, a Nasdaq-listed firm, unveiled a $250 million private placement to adopt WLD as its primary reserve asset and rebrand around Worldcoin’s identity. This mirrors how other publicly traded companies have adopted major tokens as treasury holdings to signal confidence and align their equity value with crypto performance. Historically, such moves elevate visbility and create demand floors by committing capital to token accumulation. UTEC’s AMPC Node & Technical trust On the tehnical side, Worldcoin’s AMPC (anonymized multi-party computation) privacy framework is expanding. The University of Engineering and Technology in

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Week #37: Cryptocurrencies with Recent Developments to Watch This Week

This week’s token spotlight highlights three stories shaping the market narrative: Hyperliquid’s governance clash over its upcoming USDH stablecoin, Worldcoin’s surge fueled by user growth and institutional backing, and Sui’s latest round of accumulation by a publicly listed firm. USDH: A Governance Battle Over Stablecoin Control Hyperliquid’s plan to launch its own dollar-backed stablecoin, USDH, has sparked one of the most heated governance debates in recent memory. At the core is who gets to issue the token — a decision that could reshape the platform’s stablecoin landscape and potentially displace USDC, which currently dominates liquidity there. With validators set to vote on September 14, major contenders like Paxos, Frax, and a joint bid by Agora and MoonPay are in the running. Much of the tension comes from the prospect of Stripe being closely tied to the effort, raising questions about centralization. Historically, governance battles

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