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Instagram Lite Delivers All Essential Features In Just 2 MB

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Instagram users in more than 170 countries can now download a lite version of the Instagram app from the Google Play Store. The app, called simply Instagram Lite, delivers all essential features the photo and video sharing social network has to offer while using up only 2 MB of storage space.

Since the outbreak of the COVID-19 pandemic, many Instagram users have lost access to high-speed internet networks, forcing them to rely on slow and often expensive mobile data instead. One of these users was Michelle Lourie, who’s also a product manager at Facebook.

Working in Israel, she and her team in Tel Aviv collaborated with a New York-based team to develop a lighter alternative to the Instagram app, one that would work great even on low-end Android devices without any major compromises.

“No matter where they are, people want to be entertained and inspired by those that they love. It’s difficult to do that on Instagram with an entry-level phone that has storage constraints,” said Lourie in a statement. “We wanted the Instagram experience to remain fast, high-quality, and reliable, irrespective of the device, platform, and network people are on,” added Tzach Hadar, Director of Product Management at Facebook Tel Aviv.

Also Read: Instagram Music Is Finally Available In The Middle East

After a year of development, Instagram Lite was born. The new app requires users to download only 2 MB of data (the full-size version is approximately 30 MB large), but it offers just about all essential features, including photo and video uploads, creative tools, instant messaging, and more.

instagram lite screenshots on android

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Additional features will be introduced in future updates. For example, the app’s developers are already working on a dark mode option after receiving countless requests from early users. For people who live in communal areas and close quarters, it’s really important to browse more privately and not bother those around them,” explained Lourie.

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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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