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Saudi Telecom Company Partners With Cubic Telecom To Deliver In-Car Services

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saudi telecom company partners with cunic telecom to deliver in car services

Saudi Telecom Company (STC), the largest mobile network operator in Saudi Arabia, has recently announced a partnership with Irish company Cubic Telecom, a leading enabler of automotive connectivity. Together, the two companies will develop in-car services for Saudi drivers, making the country’s vision of a connected future a step closer to reality.

“Partnering with Cubic enables STC as a digital enabler to simplify the delivery and management of advanced in-car services and gives us a foundation for innovating and meeting the changing needs of customers as new services evolve,” commented Dr. Sultan bin Saeed, VP of Business Development at STC.

The suite of tools provided by Cubic, called Connected Car, includes a solution that makes it possible for drivers to remotely monitor and control their vehicles via a smartphone app. It also includes an emergency calling system capable of automatically notifying emergency services in the event of a car crash.

Currently, Cubic’s in-car connectivity solution can be found in more than five million vehicles across 100 countries. The solution is embedded into vehicles at the manufacturing stage, and it gives car manufacturers the ability to collect data on cars’ performance and issue remote software updates.

“Cubic’s connected software is driving performance for carmakers and providing in-car services in key markets. We are delighted to be working with STC to help car manufacturers activate new opportunities in a very significant market,” said Barry Napier, CEO of Cubic Telecom.

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

Saudi Arabia has been making significant investments to improve its telecommunications infrastructure and prepare it for the era of the Internet of Things, enabled by 5G connectivity.

In the future, connected cars are expected to be part of a larger ecosystem consisting, among other things, of smart road infrastructure, such as intelligent traffic lights that are aware of real-time traffic conditions and are able to communicate with self-driving vehicles to help them safely reach their destinations.

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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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