Cobi, ARP Digital, and Coinbase Make Significant Moves in UAE Fintech Scene

UAE-based AI startup Cobi has secured a pre-seed round of $1 million, led by Lunara Partners. The funding will be used to expand enterprise deployments across the Middle East and internationally, while enhancing the company's AI-powered recommendations and decision-making capabilities.

Cobi is building an intelligence layer that connects fragmented customer, transaction, and product data together to automate businesses' workflows. This technology has already been adopted by clients such as Mastercard, Emirates Flight Catering, Presight AI, and Lari Exchange.

In related news, ARP Digital has obtained a broker-dealer license from Dubai's Vara, allowing the company to formally convert crypto and stablecoins into AED for institutional clients. This development comes as digital-asset volumes into the UAE have increased significantly.

Coinbase has also received approval from ADGM's Financial Services Regulatory Authority to establish a tokenization hub. This will enable Coinbase to arrange investment agreements and provide custody for tokenized securities, further expanding its offerings in the region.