MENA Region Emerges as a Web3 Hub: Interlace Takes Center Stage

The Middle East and North Africa (MENA) region is rapidly becoming a focal point for blockchain and digital finance innovation. Capitalizing on this momentum, Interlace, a platform designed to bridge the gap between traditional (Web2) and decentralized (Web3) financial systems, made a meaningful appearance at Token2049, a leading global cryptocurrency conference. The event, which attracts over 15,000 Web3 leaders, investors, developers, and policymakers, provided Interlace with a prime possibility to showcase its solutions and strategic vision for the region.

Interlace is strategically positioning itself to capitalize on the MENA region’s burgeoning digital economy. The company’s strategy involves a multi-faceted approach, including keynote addresses, panel discussions, interactive demonstrations, and side events. These initiatives are designed to highlight Interlace’s technological advancements, regulatory strategies, and innovative Web3 solutions aimed at fostering financial inclusion and strengthening digital infrastructure.

Navigating the Regulatory Landscape: A Strategic Advantage

A key aspect of Interlace’s strategy revolves around navigating the complex regulatory landscape of the Web3 space. Michael Wu, Founder and CEO of Interlace, recently participated in a panel discussion titled Mastering Web3 Finance and Compliance: Blockchain & Beyond, where he shared insights into the regulatory frameworks and emerging trends in the Middle East.Wu emphasized the UAE‘s efficient regulatory processes, noting that obtaining a virtual Asset Service Provider (VASP) license can take significantly less time compared to other regions like Singapore or the United States. This streamlined process provides a competitive advantage for Web3 companies looking to establish a presence in the Middle East.

In MENA, it takes only a few months to obtain a Virtual Asset Service Provider (VASP) license, whereas the same process can take up to two years in Singapore. In the United States, conflicting federal and state regulations create persistent uncertainty for businesses.

Michael Wu, Founder and CEO of Interlace

This favorable regulatory environment has enabled Interlace to accelerate its expansion into the Middle Eastern market. According to a recent report by Statista, the transaction value in the Cryptocurrency market is projected to reach US$74.48bn in 2024. With a projected annual growth rate of 11.19% (2024-2029), resulting in a projected total amount of US$126.40bn by 2029, the MENA region presents a significant growth opportunity for companies like Interlace.

Proactive Compliance: Building trust and Fostering Growth

Interlace is adopting a proactive approach to compliance, viewing it as a strategic investment rather than a mere cost.The company has secured key licenses, including MSB (Money Services Business), MSO (Money Service Operator), and VASP, across major markets such as hong Kong, the U.S., and Europe. This commitment to regulatory adherence is crucial for building trust with institutional partners and investors, who increasingly demand robust compliance frameworks.

Wu highlighted the importance of integrating technology with compliance, citing the use of biometric solutions to streamline Know Your Customer (KYC) procedures. This approach not only ensures regulatory adherence but also enhances user accessibility, making it easier for individuals to participate in the Web3 ecosystem.

Compliance is not a cost. It’s the foundation of brand trust. For institutional partners and investors, regulatory compliance is non-negotiable-and critical for sustainable growth.

Michael Wu, Founder and CEO of Interlace

Bridging Traditional Finance and Web3: A Multi-License Model

Interlace is pioneering a multi-license model that facilitates seamless interoperability between traditional finance and Web3. The company’s crypto payment card, for example, enables users to seamlessly transact between on-chain digital assets and off-chain consumer transactions. This functionality requires a high degree of cross-jurisdictional compliance, which Interlace has strategically addressed through its thorough licensing portfolio.

Showcasing Innovation at key Side Events

In addition to its presence at the main Token2049 conference, Interlace is actively participating in high-profile side events such as 1001 Crypto Nights, Gilded Mirage, and the Hack Seasons Conference. These events provide a platform for Interlace to showcase its innovative solutions and engage with key stakeholders in the Web3 community.

Interlace is showcasing its Card-as-a-service (CaaS) API solutions tailored for the PayFi sector, and also its custom-designed physical banking cards, which double as exclusive, limited-time gift cards. These cards demonstrate real-time “on-chain to off-chain” transaction capabilities, offering attendees a tangible experience of seamless Web3-enabled payments.

Looking Ahead: A Commitment to the MENA Region

Interlace’s presence at Token2049 signifies its commitment to the MENA region and its potential as a hub for Web3 innovation. The company aims to collaborate with local institutions to build robust, inclusive digital financial ecosystems that benefit both businesses and users.

The Middle East is rapidly evolving from an energy stronghold into a center of digital innovation. Its open regulatory approach and dynamic capital environment make it a strategic region for Web3 change. At Interlace, we’re committed to co-creating resilient financial infrastructure with local partners-enabling businesses and users to fully benefit from the potential of blockchain technology. we see MENA as a future global benchmark for Web3 applications.

Michael Wu, Founder and CEO of Interlace