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Coinfest Asia Returns For 2023 With A Web2.5 Theme

The immersive festival will be held in Bali on 24-25 August 2023 to the delight of crypto enthusiasts, developers, and creators.

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coinfest asia returns for 2023 with a web2.5 theme

Coinfest Asia, the immersive Web3 festival, will return on 24-25 August 2023 in Bali. The previous event hosted over 2,000 participants from 50+ countries, with attendees coming from institutional, retail, and regulatory backgrounds.

For this year’s event, Coinfest Asia will be held under a new theme known as Converge. As the name suggests, Converge will bring together Web2 and Web3 industries into the transitional Web2.5 implementation.

The internet has existed for over 50 years, with most experts agreeing that its development happened in two distinct cycles. Web1 was the basic internet that most users are familiar with, and existed primarily to share information. Web2, on the other hand, allowed users to create more interactive web pages. The next internet iteration, Web3, takes things to another level with blockchain, crypto, decentralized technologies, NFTs, AI, and the Metaverse.

To many people, however, Web3 is still quite an abstract concept. Coinfest Asia hopes to bridge the gap by focusing on the halfway house of Web 2.5.

“This year, Coinfest Asia will be back with insights and various interactive and interesting activities about the Web 2.5 industry, which is a period of industry transition from Web2 to Web3. This event is also our platform to contribute so that the industry on Web3 continues to grow, especially in Asia,” says Felita Setiawan, Director of ICN and organizer of Coinfest Asia.

Also Read: The Largest Data Breaches In The Middle East

Coinfest Asia will showcase Web2.5 case studies and real-life solutions, while companies can show off their products and network with one another. Outside corporate-based activities, the event will also see crypto enthusiasts, developers, creators, and fund managers coming together to explore the latest technologies.

Through Coinfest Asia, attendees will be invited to experience the shift from Web2 to Web3 themselves, and with tickets available today at special prices, there’s never been a better time to experience what the future holds for your favorite technologies!

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Checkout.com Brings Visa Direct Push-To-Card To The UAE

The payment company is the first acquirer in the UAE to launch Visa Direct’s solution, enabling safe, instant money transfers.

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checkout.com brings visa direct push-to-card to the uae

Checkout.com has taken the UAE a step closer to its goal of a fully digital economy by becoming the first acquirer in the country to offer Visa Direct’s Push-to-Card solution. The new service will streamline money transfers for both businesses and consumers, enabling near-instant transactions across local and international markets.

Visa Direct connects over 190 markets and supports over 8.5 billion endpoints, including cards, bank accounts, and digital wallets. Push-to-Card transactions enhance efficiency for business users and consumers by allowing money to be sent quickly and easily to eligible Visa cards while leveraging the company’s secure network for reliability.

checkout and visa uae partnership

“Visa Direct is transforming the way money moves globally, and we are excited to see Checkout.com leverage this technology to meet the evolving demands of businesses and individuals alike by offering them a faster, more convenient, and secure way to send and receive funds,” said Shahebaz Khan, Senior Vice President and Head of Commercial and Money Movement Solutions, CEMEA.

The UAE has been at the forefront of digital payment adoption, driven by a national push toward a cashless economy. Remo Giovanni Abbondandolo, General Manager for MENA at Checkout.com, emphasized this shift: “By providing seamless, secure, and real-time payout capabilities, we’re empowering merchants with the agility to thrive in this fast-evolving landscape, while effectively meeting the growing consumer demand for speed and convenience. The Push-to-Card solution not only reinforces our commitment to powering payment performance but also showcases our agility in bringing yet another innovation to the UAE market.”

Also Read: Qareeb Partners With Pantheon For GCC Bitcoin Mining Expansion

Checkout.com’s latest MENA eCommerce data highlights the region’s increasing engagement with financial technologies, with around 80% of consumers participating in activities beyond basic online payments, such as money transfers and personal wealth management. The growing demand for real-time financial transactions has made fast, seamless payment solutions a priority.

To meet this demand, Account Funding Transactions (AFTs) have gained traction in the UAE. By integrating AFTs with Visa’s Push-to-Card services, Checkout.com is helping merchants offer secure, real-time account top-ups. Currently processing over one million AFTs per month with Visa, Checkout.com is now playing a leading role in modernizing financial transactions in the region.

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