Fintech
The Dubai FinTech Summit concludes with over 8,000 visitors from 118 countries
The 3rd edition of the Dubai FinTech Summit will be held on 7-8 May 2025, under the directives of His Highness Sheikh Maktoum.
The second edition of the Dubai FinTech Summit attracted over 8,000 visitors from 118 countries around the world.
Over 50 Memorandums of Understanding (MoUs) were signed with global financial leaders during the Summit.
The Summit was attended by more than 20 leading investment management firms with investments in 12,000 companies.
Nik Storonsky, founder and CEO of Revolut, has signed expansion plans into the MEASA region, marking a significant step towards promoting financial inclusion through cutting-edge technology.
State Street Global Advisors President and CEO Yie-Hsin Hung has confirmed the reopening of its Dubai offices.
Dyna.Ai, the Singapore-based company, has launched operations in Asia, the Middle East, Africa, Europe, North America and Latin America, with offices planned in the United Arab Emirates, Saudi Arabia and Nigeria.
DUBAI, UNITED ARAB EMIRATES / ACCESSWIRE / May 13, 2024 / The 2nd edition of the Dubai FinTech Summit (DFS) organized by the Dubai International Financial Center (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 the DIFC president ended with a resounding success. The 3rd edition of the Dubai FinTech Summit will be held on 7-8 May 2025, again under the directives of His Highness Sheikh Maktoum.
From government officials and politicians to start-up founders, the two-day summit, held in Madinat Jumeirah, brought together an unprecedented gathering of more than 8,000 decision makers from 118 countries around the world. Among these, more than 300 thought leaders participated in 125 five-phase discussions and more than 200 exhibitors presented cutting-edge technologies. More than 20 government dignitaries were also present, including the mayor of Seoul, central bank governors and deputy governors.
His Excellency Essa Kazim, Governor of DIFCcommented: “The Dubai FinTech Summit is not just a meeting, it is a platform for transformative discussions and collective action. The Dubai FinTech Summit represents 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 companies.”
Arif Amiri, Chief Executive Officer of the DIFC Authority, opened the second day of the summit, followed by two 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 speech, Arif Amiri, CEO of the DIFC Authority, said: “Today we are living in an extraordinary period of technological transformation where FinTech is defining 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 six-fold globally We have also seen growing acceptance of cryptocurrencies, which is allowing their market capitalization to surpass $3 trillion This year too, FinTech is expected to harvest and will secure an additional 5% of global financial services revenues Digital payments are expected to increase by more than $10 trillion over the next two years, and by 2030, more than 25% of bank valuations will be driven by FinTech.
The Dubai FinTech Summit offers a unique platform to explore the opportunities that lie ahead, which is why, at DIFC, our strategy is firmly focused on being at the heart of this FinTech revolution. Throughout our 20 years in business, we have always embraced innovation. It’s part of our X factor. We don’t just talk about it, we commit to it; with the talent, investors and regulators to make it happen. Our visionary leadership has always enabled Dubai and the DIFC to take a leading role in driving the future of finance and innovation. For this reason, we have created the most comprehensive offering in the region that allows our customers to do and achieve great things in a place that firmly integrates FinTech into its DNA. In a place that attracts talented entrepreneurs, encourages collaboration and provides global connectivity – a gateway between East and West and a true nexus point for global markets.”
This year, over 50 international associations participated in the Summit, 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 featured more than 1,000 investors, including more than 10 senior executives from some of the world’s largest banks, managing more than $7 trillion in assets under management (AUM). There were also over 40 FinTech and blockchain unicorns, with a combined market capitalization of over $400 billion.
Over the two days, over 30 side events were hosted by the Summit’s local, regional and international partners. The second day’s panels included a deep dive into some of the most pressing topics in the financial technology landscape, ranging from high interest rates and macroeconomic volatility, institutional adoption and regulatory clarity – The Future Path of Cryptocurrencies, and D33 – A Decade of Transformation economic, among others.
The Dubai FinTech Summit also saw the signing of over 50 memorandums of understanding (MoUs) with global financial leaders, as well as numerous key announcements from participating companies.
Nik Storonsky, founder and CEO of Revolut, has announced plans to expand into the MEASA region, marking a significant step towards promoting financial inclusion through cutting-edge technology. Revolut is a UK-based global neobank and financial technology company offering banking services for retail and corporate customers.
Recognizing 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 the DIFC. Building 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 tap into an extensive roster of banks, advisors, high net worth individuals, family offices and sovereign institutions wealth funds seeking exposure to the region’s fast-growing markets in a forward-looking regulated environment.
Dyna.Ai, the Singapore-based company, announced the launch of its operations in Asia, the Middle East, Africa, Europe, North America and Latin America, with the aim of transforming businesses with artificial intelligence. The company offers a suite of solutions for digital banking, risk management, public communication and employee productivity to address today’s financial challenges. In the MEA region, offices will be opened in the United Arab Emirates, Saudi Arabia and Nigeria. Dyna Athena, a recently launched AI platform, will provide revolutionary communications and interactions between customers, which will include features such as text-to-speech, language and speech processing. Also launched at the Summit was Dyna Avatar, a brand new humanoid customer assistant, capable of voice-activated real-time conversations in Arabic, English, Chinese, Japanese and Thai.
Among several noteworthy presentations, Crypto Oasis provided an in-depth update on the UAE’s dynamic and ever-evolving blockchain ecosystem. According to the presentation, active companies increased 13% year-over-year to 2,040 organizations, with a healthy mix of 71% native and 29% non-native blockchain companies contributing to the ecosystem. There has also been a notable increase in the industry’s workforce, with over 10,600 people working in the blockchain space. One of the key factors driving the cryptocurrency industry has been an increase in regulatory clarity, which has helped attract global brands such as Bybit, Crypto.com and OKX, each of which have received VASP (Virtual Asset Service Provider) licenses from VARA.
In line with the Dubai Economic Agenda (D33) to position Dubai as a top four global financial center by 2033, DFS is designed to encourage cross-border collaboration and innovation, key to transforming the global FinTech sector. The Summit presented a unique opportunity for participants to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.
The second edition of the Dubai FinTech Summit was supported by over 150 global corporate partners. Visa as founding partner and co-host; Emirates NBD as premium banking partner; e& life as sponsor Powered By; Commercial Bank of Dubai (CBD) as strategic banking partner; Finvasia as main sponsor; SC Ventures as strategic venture partner; Dynatech AI as Powered By sponsor; and Mashreq as Diamond Sponsor, among others.
About the Dubai FinTech Summit
The Dubai FinTech Summit is an annual mega event organized by Dubai International Financial Center (DIFC), the leading global financial center in the Middle East, Africa and South Asia (MEASA) region. The second edition of the Dubai FinTech Summit will bring together over 8,000 global industry leaders, over 1,500 investors and policy makers, signaling a growing appetite for growth opportunities in the region.
The Dubai FinTech Summit signals a new wave of financial innovation, opportunity, transformation and growth for the international financial services sector. As a rising FinTech hub, Dubai is also leading the evolution of the financial services sector, with FinTech investments expected to grow at 17.2% CAGR to $949 billion from 2022 to 2030. The Summit is on track with the Dubai Economic Agenda D33’s strategic objective of pushing Dubai into the top four global financial centers by 2033.
The expanded program of the Dubai FinTech Summit is set to exceed expectations by delving into key avenues, including the future of FinTech, integrated and open finance, climate finance, Web3 and digital assets. The Summit represents a platform driven by thought leadership, addressing industry challenges head-on and supporting innovation.
Visit www.dubaiFinTechsummit.com
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For further questions, please contact:
Samia Ahmad
Assistant Manager, Marketing at DIFC Innovation Hub
AND: [email protected]
Telephone: +971 4 362 2657
SOURCE: Trescon global