Fintech Abu Dhabi returned for its highly anticipated eighth edition, reinforcing its status as the Middle East’s biggest fintech festival. Part of Abu Dhabi Finance Week (ADFW 2024), the event attracted several global tech leaders, tech innovators, banking institutions, developers, entrepreneurs and investors who are shaping the future of finance.
With a focus on payments, digital assets, digital security and credit, the gathering also reaffirmed Abu Dhabi’s position as a global hub for financial innovation.
“Fintech Abu Dhabi exemplifies our dedication to innovation, bringing global visionaries together to shape the future of finance and technology. We aim to facilitate meaningful conversations that continue to strengthen a thriving ecosystem coupled with progressive frameworks and a dynamic business environment,” stated Salem Mohammed Al Darei, CEO of ADGM Authority.
Key trends in fintech
Through a series of thought-provoking sessions and high-profile forums, Fintech Abu Dhabi highlighted key trends within this sector. A keynote address by Paul Kayrouz, chief fintech officer at the Central Bank of the UAE shed light on ‘Seeding Success: The UAE as a Global Fintech Hub.’
Meanwhile, the fireside chat on ‘Investing in AI: What Does the Next World Look Like?’ with H.R.H. Prince Khaled bin Alwaleed bin Talal Al Saud, founder and CEO of KBW Ventures, explored the promise of AI as a transformative asset class, as well as its impact on industries such as finance and health. In another session, Lord David Cameron, former Prime Minister of the UK talked about the significant decisions and policies that worked for the UK a decade ago.
“By cultivating this, we have enabled collaborations where innovation in finance and technology could flourish and reinforce Abu Dhabi’s position as a leading hub for financial innovation and technology,” added Al Darei.
Fintech Abu Dhabi also hosted a panel discussion on ‘Has the Unicorn Machine Stopped Working?’, where experts examined the emergence of new unicorns in fintech despite challenges in the venture capital market and examined whether the ecosystem can sustain growth or if consolidation is necessary.
New forums highlight fintech’s evolving landscape
This year’s Fintech Abu Dhabi also introduced new forums that highlighted the evolving landscape of finance and technology. The inaugural Islamic Finance Summit (IFS) explored the future of Shariah-compliant finance and its alignment with sustainable finance. Meanwhile, the DLT Foundations Roundtable focused on regulatory frameworks for distributed ledger technologies and digital assets.
Returning forums including AI Abu Dhabi, Blockchain AD and the Risk 4.0 Forum addressed the key challenges and opportunities for technology and finance.
On stage, Richard Teng, CEO of Binance, and Jeremy Allaire, CEO of Circle Internet Financial, announced a strategic partnership that will accelerate global USDC and crypto adoption.
Other key participants included Lily Lui, president of Solana Foundation; Konstantin Richter, CEO of Blockdaemon; Jonathan Levin, co-founder and CSO of Chainalysis; Rebecca Rettig, chief legal and policy officer at Polygon Labs; and Angela Walker, global head of banking and capital markets at Chainlink Labs.
Read| ADFW 2024: Experts discuss AI’s role in financial services sector
ADFW 2024 sees over 30 partnerships
Becoming a stage for strategic partnerships, ADFW 2024 has witnessed over 30 memorandums of understanding (MoU) signed so far. This includes a couple of major deals signed by ADGM, the first with PaloAlto Networks and the second with Ma’an.
Fintech Abu Dhabi also featured the MENA Fintech Awards which recognize excellence in the fintech sector, and the ADFW Startup Campus and Venture Park, where local startups pitched their innovations to potential investors.
The various forums hosted highlight Fintech Abu Dhabi’s commitment to fostering discussions that empower participants to thrive in a rapidly evolving financial ecosystem.
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