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Instagram Reels Has Arrived To The Middle East

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instagram reels has arrived to the middle east

Instagram’s long awaited short-form video-sharing feature, Instagram Reels, has finally started rolling out in the Middle East. During Instagram’s previous “House of Instagram” event, the company announced that Reels would be a brand-new way for content creators and businesses in the MENA region to create and discover short and entertaining videos. The announcement of Reels comes just days after Instagram released Instagram Music in the Middle East.

Reels allows users to take and edit multi-clip videos up to 30 seconds long, with the ability to add effects and other new tools dedicated to this feature. Once taken, users can share Reels with their followers (for private accounts) and potentially with the entire Instagram community (your account will need to be set to public).

how to create instagram reels

Instagram

If you have the latest version of Instagram installed on your smartphone, you should see the Reels icon in the bottom center of the app’s homepage.

“Self-expression and versatility are part of the creative DNA of the region’s Gen Z and millennial population. As one of the primary platforms for this group of creators, we have always sought to adapt our features to what they need. With Reels, they now have more leverage when it comes to creating and sharing short-form content. Reels provides our community with greater freedom and flexibility to innovate, experiment and elevate their content, and we cannot wait to discover a new generation of talent via the feature.” said Samer Jamal, strategic partner manager at Instagram MENA.

Also Read: How To Find & Cancel Pending Instagram Requests

Instagram isn’t the only company to explore this type of short-form content. Last September, YouTube announced a similar feature called “Shorts” which gives creators the ability to capture short and catchy videos straight from their smartphone.

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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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