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Tkeycoin receives a multimillion-dollar tranche in UAE

Recently Tkeycoin and investors from the UAE signed a formal agreement for the second investment tranche—an amount of $8,000,000. Considering the first tranche of $4,000,000, the amount of "Eastern" investments in the Russian blockchain project will be $12,000,000. The funds will be transferred through Dubai's largest Bank, Emirates NBD.

 

The deal with Tkeycoin Dao was approved by the government of Dubai, which is set to implement the blockchain in a variety of spaces—trade, logistics, real estate, finance, and even public services. The government’s interest is due to Dubai’s goal of becoming a key hub for Fintech development in the Middle East region. To help expedite the process, several UAE investors with ties to government agencies are pursuing investments in high-potential blockchain companies

Promising Cryptocurrency for Business Creates Special Conditions

Under the terms of the new policy, and to maximize communication with the Tkeycoin DAO, Russians will be able to access free office space in the DMCC Business Centre. Starting in 2019, and in coordination with Tkeycoin staff, the office will host the work of professionals and blockchain experts from several countries. This will also benefit the Russian project thanks to accelerated promotion of its blockchain technology in foreign markets, as well as in more development resources.

The UAE has recently launched the first Islamic cryptocurrency exchange which, as anticipated by Tkeycoin’s founders, will contribute to the project’s development. The cryptocurrency exchange was designed in strict accordance with Sharia law and has a potential audience of more than 2 billion Muslims worldwide.

In cooperation with its Arab partners, Tkeycoin will seek a local license to trade cryptocurrency and gain access to the new exchange platform to list TCD tokens. Additionally, Tkeycoin in Dubai may assist in financial cybersecurity oversight, especially in the areas of fraud and money laundering. The significant interest from the Tkeycoin’s Arab partners has placed high expectations on the project, mostly regarding the encryption of transactions and possible integration into many existing systems.

Thus, the news about the second investment tranche for Tkeycoin should generate interest for the broader cryptocurrency community.

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