Following our portfolio company
@GCEX_Official obtaining the Virtual Asset Service Provider (VASP) licence for Virtual Asset Broker Dealer services from the Virtual Asset Regulatory Authority (VARA) on November 20, we are pleased to announce that “Web 3 Innovations FZE”, trading as AYA Foundation (AYA), the Dubai entity of our portfolio
@enjinstarter has obtained the VASP licence for Virtual Asset Management and Investment Services today!
This licence is a key milestone in their commitment to leveraging
#Web3 for climate action as AYA is a climate-focused launchpad. The licence is subject to fulfilment of pre-operating conditions and qualifying for operational approval.
Acting as a green financing bridge, AYA will connect retail investors, high-net-worth individuals, and institutional investors with startups working in areas such as reforestation, nature credits, mangrove conservation, and sustainable agriculture. It will also provide startups with access to innovative technologies and incubation services.
They also have a mangrove planting collaboration with UAE-based The Storey Group, where each community member gets a tree planted in their name.
“This is a great day for AYA and a huge milestone for us. The VASP licence process demonstrates our compliance with the VARA process as we leverage Web3 to help bridge the climate financing gap,” said Prakash Somosundram, co-founder and CEO of Enjinstarter and AYA Foundation.
@Vasseh Ahmed, managing director of Enjinstarter MENA added: “We are looking to work with founders and projects that have a unique proposition within our key focus areas by helping them build their product narrative, raise capital, and launch their projects. We already have projects in the pipeline and look forward to working with them.”
Read full press release here:
lnkd.in/d59um7TC
#AYAFoundation #Enjinstarter #ClimateAction #COP28 #Sustainability #Innovation