UAE-based CSG tech secures its 1st big investment worth $4mn

By Arya M Nair, Intern Reporter
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Cryptocurrency
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Centre Systems Group (CSG), the UAE-based Disruptive technology company, has secured its first major investment worth $4 million from Lebanon-based MCube Holdings, to expand its platform onto diverse domains.

With the markets recovering from post-COVID situations, organizations are in a race to reassess, revamp, rebuild their businesses. With its clientele expanding to major Government organizations in the Middle East, CSG has procured a resolute trust among its customer and partner base.

According to reports, MCube Holdings were looking to expand in the UAE and the investment in CSG has given them a fortuity to do so. With CSG’s ascend as a major service provider in the Middle East market, it was an ideal choice for a confident investment.

The funding is based on the secure reputation that the two companies have garnered among organizations and partners that are leading service providers internationally. While keeping strong its current expertise, CSG has also accelerated its pursuit of innovation and diversified its investment with more ambitions. 

The investment will be used to speed up its developments in its group companies with its foray into its establishment of its Cryptocurrency Exchange called CoinCULT, its NFT platform called DINERO to be established in Malaysia and Lithuania and their EV company One Moto in India. With the investment already mobilized into multilateral developments, CSG is on the lookout for Series B investments to further amplify its projections.

CSG has already applied for a license for the same in Lithuania and has the licensing process going on in Malaysia as well. With the licensing in Malaysia, CSG intends to create the first Shariah-based Crypto Currency Exchange. The launch dates for the platforms are expected to be announced soon and are predicted to be launched in the first quarter of 2022.

Related: UAE’s 1st digital-only bank Zand all set to go live after major acquisition


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