💸 Crypto Meets UAE

While fintech faces scrutiny

December 12, 2024

Welcome to Fintech Wire — your quick guide to what’s shaping finance and tech today.

What we’ll cover today:

🏙 Crypto.com’s big UAE bet with Orion acquisition

💥 Stenn’s collapse amidst money laundering concerns

📅 Upcoming fintech events you can’t miss, from AI Everything to Fintech LIVE London!

Crypto.com, a global crypto platform, has acquired Orion, a UAE-based brokerage, to expand its foothold in the Middle East.

🚨Breaking News:
Crypto.com’s acquisition of Orion positions it to target institutional investors and diversify its offerings in a competitive crypto market.

⚡Wire Simplified:

  • Crypto.com is growing its presence in the UAE, a crypto-friendly hub.

  • Orion specializes in serving institutional investors in the region.

  • The acquisition strengthens Crypto.com’s push to become a leader in regulated markets.

  • It’s a strategic move amidst increasing regulatory scrutiny worldwide.

  • Crypto.com aims to enhance credibility with institutional clients and regulators.

✔️Straight to the Point:
Crypto.com’s Orion acquisition highlights its ambition to dominate crypto finance, leveraging the UAE’s crypto-friendly reputation for institutional expansion.

Should crypto companies prioritize regulated markets like the UAE for growth?

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UK fintech giant Stenn has entered administration after being linked to suspicious activities in a Russian money laundering case.

🚨Breaking News:
Stenn’s ties to a criminal indictment on Russian laundering raised scrutiny, causing lenders to halt support and trigger its collapse.

⚡Wire Simplified:

  • Stenn, once valued at $900 million, is now in administration.

  • It was linked to a U.S. investigation into Russian money laundering.

  • Lenders like HSBC pulled support after uncovering suspicious activity.

  • Neither Stenn nor its founder was accused of wrongdoing, but the connections were enough to raise alarms.

  • Questions arise about due diligence in fintech partnerships.

✔️Straight to the Point:
Stenn’s collapse reveals the high stakes of regulatory compliance in fintech, with trust and transparency being non-negotiable in partnerships.

Is Stenn’s collapse a warning to investors about due diligence?

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❝

There's a saying in Fintech:

You either die a consumer goods company, or live long enough to see yourself enter financial services.

One company has managed to do both.

Let me tell you why Starbucks is one of the most successful banks in the U.S.:

❝

ALEX HORMONZI SAID:

''If you have no money, you should have no shame.

Knock.

Call.

Email.

Text.

DM.

Ask.

Life-changing doors don’t open themselves.''

Why are you still keeping yours closed?

  1. Fintech Meetup 2025
    Fintech Meetup is the premier event for fintech professionals, offering unparalleled networking opportunities and insights into the latest industry innovations. Attendees can expect a dynamic environment designed to foster meaningful connections and collaborations.
    Date: March 10-13, 2025 | Location: The Venetian, Las Vegas, NV, USA

  1. FinTech LIVE London Global Summit 2025
    FinTech LIVE London brings together global financial services and technology leaders to inspire collaboration, innovation, and inclusion. The event features keynote presentations, panel discussions, and networking opportunities, focusing on the latest trends and emerging technologies in the fintech industry.
    Date: October 7-8, 2025 | Location: 155 Bishopsgate, London, UK

  1. AI Everything 2025
    AI Everything is a premier event focusing on artificial intelligence, bringing together the global AI ecosystem to inspire and drive groundbreaking advancements. Attendees will explore the latest AI technologies and their applications across various industries.
    Date: February 4-6, 2025 | Location: Dubai Exhibition Centre, Dubai, UAE

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