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Abu Dhabi Airports Exploring Options For Air Taxis

Abu Dhabi Airports has just signed an agreement with French counterpart Groupe ADP in a bid to explore how airport infrastructure could be updated to incorporate air taxis.

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abu dhabi airports exploring options for air taxis

Abu Dhabi Airports has teamed up with France-based Groupe ADP to incorporate air taxis into the airport infrastructure. The two groups have drawn up an advanced air mobility (AAM) plan, focusing on Abu Dhabi’s airspace and the viability of electric vertical take-off and landing (eVTOL) aircraft. If plans are successful, the Emirate could see fleets of highly efficient craft darting around the region, ferrying both people and small cargo loads.

The joint team have agreed to share the responsibilities of planning, development and design and will soon draft a feasibility study after discussions with stakeholders.

abu dhabi airports signs deal wit groupe adp

“The advanced air mobility system integrates flight technologies with transformational aircraft designs which utilize electric power to hover, take off and land vertically, enabling sustainability in air transport for both passengers and cargo,” says Jamal Al Dhaheri, managing director and chief executive of Abu Dhabi Airports.

It’s hoped that eventually, the planned infrastructure and technology will not only drive further improvements to the region’s sustainability credentials, but also improve transport convenience and efficiency through the use of low maintenance high speed air taxis.

Also Read: Saudi Arabia To Build 150,000 EVs Annually By 2026

Groupe ADP and Abu Dhabi Airports aren’t alone in their desire to develop air taxi infrastructure. Many companies worldwide have already begun to explore the regulatory implications of this new type of transport, and major airlines are keen to develop viable battery-powered aircraft designs that can take off and land vertically.

In the future, it looks increasingly likely that our cities will resemble something from a sci-fi movie, with taxis taking off and landing from “vertiports” on building rooftops, helping residents beat traffic queues and get to main transportation hubs on time.

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Binance Receives Virtual Assets License To Operate In Dubai

As its user base nears 200 million, CEO Richard Teng believes crypto adoption will soar over the next half of the decade.

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binance receives virtual assets license to operate in dubai

Global crypto exchange Binance has been granted a full operational license in Dubai, in a move that’s expected to accelerate digital asset adoption and strengthen the UAE’s regulatory landscape.

The virtual asset service provider license (VASP) was granted by the Dubai Virtual Assets Regulatory Authority (VARA) and will allow Binance to extend its current range of services to retail investors, the company announced yesterday.

The move by Dubai authorities will be critical to Binance’s strategy of growing its user base globally. The crypto exchange expects to pass the 200 million user mark “quite shortly”, according to Richard Teng, the company’s CEO.

Once that milestone is achieved, Binance will have around twice as many users as rival platform Coinbase. Meanwhile, Crypto.com, another popular exchange with 80 million users, received a Dubai VASP license last week.

“We’re seeing much greater institutional adoption and institutional money coming into this space [along with] much greater regulatory clarity and a lot more jurisdictions approving [digital asset] products that bring in new investor classes,” Binance’s Richard Tang explained, adding: “As of now, we stand at about 5% crypto adoption globally, but that will become much faster moving forward”.

Also Read: Microsoft Invests $1.5 Billion In Abu Dhabi AI Tech Firm G42

Dubai and the UAE are extremely supportive of technologies like digital assets, and have already launched initiatives to boost adoption. The UAE has ambitious plans to become a world leader in the crypto economy of the future, with Dubai in particular being noteworthy for passing a new law to regulate virtual assets to support investors and exchanges.

“Global crypto regulation is currently showing diverging signs. Some developed countries have long suffered from crypto-related frauds and illegal exchanges. On the other hand, emerging nations like the UAE and Singapore have enacted crypto laws at faced pace,” said Vijay Valecha, chief investment officer of Dubai-based Century Financial.

As the UAE gears up to become one of the fastest-growing crypto capitals worldwide, investors and talent are flocking to places like Dubai. During 2023, the Emirates as a whole realized $204 million in capital gains from cryptocurrency investments, according to blockchain data analysts Chainalysis.

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