Cointelegraph, Leading Blockchain Media Outlet, Expands in MENA Via Luna Media Corporation

Cointelegraph, Leading Blockchain Media Outlet, Expands in MENA Via Luna Media Corporation

Cointelegraph, a leading blockchain, and cryptocurrency news outlet is expanding its presence in the Middle East and North Africa (MENA) region with the help of a new franchise owner, Luna Media Corporation.

Luna Media Corporation is a media holding company based in Dubai that aims to promote the web3 industry through many unrelated ventures and investments. The new franchise will be critical in increasing global awareness of blockchain projects and activities in the MENA region.

Furthermore, since its inception in 2013, Cointelegraph has been at the forefront of blockchain and Web3 news, including cryptocurrencies, non-fungible tokens (NFTs), the metaverse space, decentralized finance (Defi), and other emerging financial technologies.

In addition to the primary version in English, Eliza Leyb, Vice President of Global Operations at Cointelegraph, oversees ten local versions of the site in French, Spanish, German, Italian, Turkish, Chinese, Korean, and Portuguese, Japanese, and Arabic. “I look forward to securing our position in the very promising MENA region with our new partner,” Leyb said.

Cointelegraph Editor-in-Chief Christina Lucrezia Corner commented on the new development, saying, “The MENA region is booming with innovative projects including blockchain and crypto, and this is an amazing opportunity for us to grow our readers through original content produced in Arabic within the FinTech community, one of the most active modern hubs in Dubai.”

How Cointelegraph Entry will Benefit the MENA Region

Cointelegraph in the MENA will provide Arabic-language news coverage of each country’s top news and technological advancements. The publication will have a substantial impact on the rapidly expanding market.

In recent years, the MENA region has been a hub of activity in the crypto and blockchain space. The United Arab Emirates is leading the regulatory charge and is home to several major blockchain and cryptocurrency brands.

Dubai has been at the forefront of blockchain technology adoption in the Arab world. With the introduction of the virtual assets license (VAL) law for crypto-businesses in March, Dubai attracted a slew of international and local blockchain startups, including Bybit and Binance, to the thriving MENA hub. The VAL Law then resulted in the formation of the Dubai Virtual Assets Regulatory Authority (VARA), which is in charge of overseeing the legal framework for businesses dealing with digital assets such as crypto assets, virtual assets, and non-fungible tokens (NFTs).

On July 18th, Dubai also announced the launch of the Dubai Metaverse Strategy, which aims to generate up to $4 billion in GDP and create 40,000 additional jobs in the augmented and virtual reality sectors by 2030 to transform the emirate into a global capital of emerging technologies, attracting over 1,000 companies and contributing $500 million to the national economy.

The Dubai Metaverse Strategy paved the way for the Dubai Metaverse Assembly, which will bring together over 300 global experts, policymakers, thought leaders, and decision-makers from over 40 organizations in September to discuss how to best leverage web3 opportunities and humanize metaverse applications to improve quality of life.

Morocco was the most popular bitcoin (BTC) market in North Africa in 2021, although it is illegal in the country. According to Cointelegraph, the “Kingdom of the West,” as it is known locally, was the North African leader in bitcoin trading in 2021, narrowly edging out Saudi Arabia when looking at the entire MENA region.