Hong Kong
As part of its strategic direction to build more efficient and sustainable digital financial environments in the Arab region, the Arab Federation for Digital Economy held a consultative meeting with Kinetics Technology in Hong Kong, exploring areas of cooperation in developing solutions based on blockchain technologies and cryptocurrency applications.
The meeting focused on studying the mMatrix platform, an advanced model for exchanging cryptocurrencies such as Bitcoin and Ethereum. It offers money transfer and payment solutions for small businesses and individuals, as well as cryptocurrency ATMs, which operate within an integrated technical system that adheres to compliance standards for combating money laundering and illegal transfers.
During the meeting, the company presented recent data indicating that the global cryptocurrency ATM market is experiencing rapid growth, driven by the increasing reliance on cryptocurrencies in daily transactions. Forecasts indicate that the sector’s annual growth rate could exceed 60% in the coming years, with the market value potentially reaching more than $2.5 billion by 2032. While North America is currently the largest market, the Asia-Pacific region is recording the highest growth rates, driven by advanced digital infrastructure and growing demand for alternative financial solutions.
The two parties discussed the possibility of adapting this experience to the Arab context, in line with regional digital transformation strategies, providing legal and transparent alternatives to unregulated currencies, and establishing a secure digital financial environment that meets international standards of governance and compliance.
The meeting was attended by His Excellency Dr. Ali Mohammed Al Khouri, President of the Arab Federation for Digital Economy, and Dr. Ayman Ghoneim, Assistant Secretary-General, along with the Chairman of Kinetics and a number of senior executives. This approach embodies the Federation’s commitment to implementing advanced, innovative digital models that support the building of an integrated Arab digital economy and contribute to building a knowledge economy based on innovation and regional integration.
