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AUM of USD 635 Billion at ADFW Caps Stellar Q4 as Trillion-Dollar Club Flock to ADGM

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ABU DHABI, UAE, Dec. 19, 2024 /PRNewswire/ — ADGM, the leading international financial centre of Abu Dhabi and a globally recognised hub for asset and wealth management unveiled nineteen major announcements from global financial institutions during the third edition of ADFW. These represent almost USD 635 billion in assets under management (AUM) and follow other Q4 announcements from the world’s largest asset managers, BlackRock, PGIM, and Nuveen, which have also been set up in ADGM.

This remarkable increase, from USD 450 billion to USD 635 billion, within a year has reinforced the centre’s reputation as the region’s fastest-growing and one of the world’s most dynamic jurisdictions for asset management. This growth has been further bolstered by the establishment of billionaire-led family offices, including those of British businessman Asif Aziz, prominent philanthropist and financial strategist Wafic Said, and Singaporean entrepreneur and real estate leader Kishin RK, underscoring the centre’s growing appeal as a global wealth management hub.

Commenting on Abu Dhabi and ADGM’s continued momentum, H.E. Ahmed Jasim Al Zaabi, Member of Abu Dhabi’s Executive Council & Chairman of the Abu Dhabi Department of Economic Development (ADDED) and ADGM said, “These milestones reflect the heart of what makes Abu Dhabi so special—a shared vision of progress, partnership, and possibility. The growing number of global financial leaders and innovators choosing ADGM is a testament to the trust they place in our infrastructure, robust regulations, commitment to excellence and Abu Dhabi’s reputation as the world’s safest and most dynamic jurisdiction for asset and wealth management. As we welcome these new partnerships, we remain dedicated to driving the growth and diversification of the ‘Falcon Economy’ and creating opportunities that resonate across industries and borders. It’s an exciting moment for ADGM, Abu Dhabi, and all those who are part of this remarkable journey.”

Larry Fink, Chairman and CEO of Blackrock praised Abu Dhabi commenting, “It’s been a long journey watching how Abu Dhabi has matured as an economy. The constant innovation that I’m seeing from the economy and from the leadership. And Abu Dhabi has really positioned itself to become a leader over the next 20 years. Its psychology was different, and now it’s blossoming into this magnet of opportunity. With that strength, it is now becoming a foundation for innovation.”

“We see a real burgeoning of entrepreneurship happening in the region and believe that the Middle East is the next big entrepreneurial hot spot. We’ve watched this happen before and always had our eye out on areas emerging in terms of entrepreneurship,” said Bill Ford, Chairman & CEO of General Atlantic, during the second day of ADFW. 

Sir Paul Marshall, Chairman and Chief Investment Officer of Marshall Wace said, “Abu Dhabi is such a great place. Abu Dhabi is absolutely nailing it. It’s a very attractive place.”

Confirming their establishment in ADGM during ADFW were leading private equity firms General Atlantic, Lone Star Funds, and Investindustrial along with private credit giants Golub Capital and Polen Capital, insurance manager – Eldridge as well as leading global equity management company, Carta and hedge fund Marshall Wace.

This recent wave of commitments from global financial institutions signifies ADGM’s leadership in attracting the world’s foremost investment firms. Reflecting this confidence and growth, billionaire-led family offices have also been drawn to ADGM, recognising it as a trusted hub for managing and growing wealth.

Asif Aziz, Founder and CEO of Criterion Capital commented, “Abu Dhabi’s transformation into a global financial powerhouse makes it an ideal base for our operations. ADGM’s world-class infrastructure and strategic location provide unparalleled opportunities to forge partnerships that align with our growth ambitions across the UAE and beyond.”

Building on its role as a leading destination for global investors and asset managers, ADGM is also redefining financial innovation by advancing its digital ecosystem. A cornerstone of this effort was the launch of Finstreet, a first-of-its-kind international securities market and an ecosystem for private securities, which exemplifies ADGM’s commitment to integrating cutting-edge digital solutions with its robust financial infrastructure. The week also saw a new funding round for Themis and the entry of international digital pioneers Zodia Markets, Polygon Labs, FJ Labs, Aptos Digital, Chainlinks, Astra Tech and Themis, further solidifying the Emirate’s reputation as a global innovation hub.

Meanwhile, FinTech Astra Tech’s Quantix announcement of a landmark USD 500 million financing from Citigroup, among the largest provided to a UAE FinTech company to date, to expand its CashNow consumer lending platform. Additionally, Themis—renowned for its advanced financial crime prevention technologies—is further reinforcing ADGM’s position as a hub for the next generation of financial technologies, secured over USD 9.75 million in scale-up funding, building on its success in partnerships with global leaders, including ADGM underscoring its role in advancing financial crime prevention in innovative regulatory environments.

The market announcements were released during the third edition of ADFW held under the theme “Welcome to the Capital of Capital,” which gathered more than 20,000 leaders and executives from across the financial services industry, which collectively represented more than USD 42 trillion in assets under management.

This wave of newcomers ADFW underscores Abu Dhabi’s position as a global financial powerhouse and ADGM’s role as a catalyst for economic diversification, attracting top-tier talent, cutting-edge technologies, and transformative investments that are shaping the emirate’s future.

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Mitrade Taps Former Pit Trader and Brokerage CEO Christopher Brankin as Global Markets Advisor

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October 8, 2026

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LIMASSOL, Cyprus, Oct. 8, 2026 /PRNewswire/ — Award-winning CFD broker Mitrade has engaged Christopher Brankin as Global Markets Advisor. A markets commentator featured on CNBC, Bloomberg, and Reuters, Brankin was the founding CEO of TD Ameritrade Singapore and later headed regional expansion for a CFD brokerage.

The appointment comes as global events continue driving European market conditions. In September alone, the ECB raised rates citing the Middle East supply disruptions, the euro fell 0.5% after the Fed followed suit, and Europe’s gas benchmark held above twice pre-war levels as Hormuz LNG flows slumped.

Having worked both the trading floor and the helm of major brokerages, Brankin brings over three decades of market experience. Starting in Chicago’s open-outcry futures pits in 1995, he ran a proprietary trading desk and oversaw execution and clearing at thinkorswim before building and leading regulated firms across Asia, navigating cycles from the 2008 financial crisis to 2020 market volatility.

“2026 has put European traders through a war-driven energy shock and back-to-back rate rises. Europe now imports its volatility, and traders who understand its source see the market differently. Mitrade shares my belief in financial literacy, and I look forward to adding my perspective through the platforms I have,” said Christopher Brankin, Global Markets Advisor, Mitrade Group.

In this role, Brankin will contribute institutional analysis, market commentaries, and educational insights on global market developments for Mitrade.

About Mitrade 

Mitrade is a CFD trading platform operating in eligible EEA markets through Mitrade EU Limited, a CySEC-authorised investment firm (CIF438/23). Other legally separate entities within the international group are independently authorised and regulated in their respective jurisdictions by ASIC (AFSL398528), CIMA (SIB1612446), FSCA (FSP54842), FSC (GB20025791), and CMA (20200000397). 

Globally, the brand connects 7M+ traders to 1,000+ CFDs on indices, forex, commodities, shares, ETFs and more. The platform is designed to provide fast execution, flexible leverage on a per-position basis, competitive spreads and an intuitive interface accessible across multiple devices. 

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 

Visit https://www.mitrade.eu for more information.

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BORICA and OpenWay Win PAY360 Award for Bulgaria’s Euro Payments Transformation

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October 8, 2026

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The Best Partnership Initiative award recognizes BORICA and OpenWay for their contribution to Bulgaria’s payments transformation and successful euro transition.

LONDON, Oct. 8, 2026 /PRNewswire/ — BORICA AD and OpenWay have won the Best Partnership Initiative Award at the PAY360 Awards 2026 for their work together on Bulgaria’s payment infrastructure and the country’s successful transition to the euro.

The award recognizes the impact of a long-term partnership focused on a challenge where there was no room for disruption: transforming critical national payment infrastructure while ensuring that everyday card payments and ATM services continued from the first minute of euro adoption.

Since 2018, BORICA and OpenWay have worked together to modernize Bulgaria’s card processing infrastructure, combining BORICA’s expertise in national payment services and ecosystem coordination with OpenWay’s Way4 real-time digital payment software platform and payment technology expertise.

What set the initiative apart was its scale, continuity and practical impact. The partnership was developed over years of modernization and then tested under exceptional live conditions when Bulgaria adopted the euro on 1 January 2026.

The euro programme brought together more than 35 banks, payment service providers, fintechs, government institutions and technology partners. BORICA and OpenWay worked closely to prepare and execute the card processing transformation, with extensive testing, rehearsals and operational coordination before the cutover.

The results came almost immediately after midnight. The first successful euro ATM withdrawal was completed just 20 seconds into the new currency environment. Within the first 48 hours, more than 930,000 card and ATM transactions worth nearly €42 million were processed with zero unplanned downtime.

Miroslav Vichev, CEO of BORICA AD, said:
“Our shared objective went beyond a successful technology transition. We wanted to ensure that a transformation of this scale could happen without disrupting the everyday payment experience. That required years of preparation, disciplined execution and trust between our teams and across the wider ecosystem.”

Pavel Gubin, CEO of OpenWay Group, said:
“What makes this achievement distinctive is not technology or scale alone, but what BORICA and OpenWay were able to accomplish together. We have spent years building a payment environment designed to evolve without compromising continuity. Euro adoption put that approach to the ultimate real world test, and the results speak for themselves.”

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SOURCE OpenWay

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Fibocom and Grid-OS Accelerate IoT Deployment at Scale in India at IMC 2026

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October 8, 2026

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NEW DELHI, Oct. 8, 2026 /PRNewswire/ — Fibocom, a leading global provider of wireless communication modules and AI solutions, is collaborating with India-based IoT ODM Grid-OS to advance smart payment and vehicle tracking applications in India. At IMC 2026, Grid-OS is showcasing a Payment Soundbox powered by Fibocom’s LE270 LTE Cat 1 bis module, alongside two 4G Vehicle Trackers based on Fibocom’s LE250 series LTE Cat 1 bis modules.

India’s IoT market is moving rapidly toward large-scale deployment. NPCI data shows that UPI transactions reached 24.51 billion in August 2026, while growing applications such as vehicle tracking are creating increasingly diverse requirements for reliable connectivity, low power consumption and positioning capabilities.

For the Payment Soundbox, Fibocom LE270 provides stable 4G connectivity for real-time payment information transmission. Optimized for connected-mode and DRX standby power consumption, LE270’s low-power design helps the Soundbox achieve approximately 7–8 days of battery life with a 2000mAh battery.

The collaboration also extends to two Grid-OS 4G Vehicle Trackers based on Fibocom LE250. The module provides LTE connectivity and GPS/BeiDou positioning, supporting vehicle location and operational data transmission. LE250 also supports OpenCPU and DFOTA, helping simplify product development and subsequent software maintenance.

“Fibocom’s broad wireless communication portfolio gives us the flexibility to select suitable solutions for different IoT product requirements,” said Raghav Gautam, Founder of Grid-OS. “Together with our capabilities spanning product development through mass manufacturing, this provides a strong foundation for expanding our collaboration across more applications.”

Ronald Chan, Vice President of APAC Sales at Fibocom, said: “India is an important IoT market for Fibocom. Our collaboration with Grid-OS, expanding from payment soundbox to vehicle tracker, demonstrates how our diversified wireless portfolio can support local partners across different device requirements and accelerate commercial deployment at scale.”

About Fibocom

Founded in 1999, Fibocom is a leading global provider of wireless communication modules and AI solutions. Its portfolio spans cellular, AI, automotive and GNSS modules, together with AI toolchains, global connectivity and cloud services, empowering connected and intelligent applications worldwide.

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SOURCE Fibocom

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