UAE’s The Binary Holdings Bags US$5 Million from ABO Digital

The Binary Holdings, a Dubai-based Web3 infrastructure provider valued at US$16.9 billion, has pocketed an investment of up to $5 million from the Bahamas’ Nassau-based ABO Digital, a digital asset investment firm that provides financing to cryptocurrency projects.

The funds are set to help the startup expand its digital infrastructure and grow its user base, which aims to reach one billion users by December 2025. 

With 169 million current users, Binary Holdings is developing a decentralized open network for distribution and commerce, integrating existing Web2 systems with Web3 capabilities. This network supports services such as cross-border payments, gaming, and digital transactions. 

The platform uses BNRY, its digital currency, to facilitate transactions and promote interoperability across different platforms and regions.  

In the second quarter (Q2) of 2025, Binary Holdings plans to introduce Millenia, a digital bank focused on simplifying cross-border payments and remittances. The bank will offer low-cost and transparent services using BNRY as the primary transaction currency. 

In an interview with Inc. Arabia, Manit Parikh, CEO of The Binary Holdings, shared his firm’s strategy to balance its goal of reaching one billion users by 2025 with ensuring seamless integration between Web2 and Web3 technologies.

“Our solution helps telcos boost user engagement, activation, and sustainable average revenue per user, because it not only keeps their users engaged within the telco ecosystem, but rewards them for their time with the BNRY token, which is the ecosystem’s native utility token,” Parikh explained.

These tokens, he added, function as loyalty points, and thereby allow users to redeem data packs, call time, and in-app goods and services, while also engaging further with integrated decentralized applications (dApps). 

Parikh emphasized the company’s approach to embedding decentralized technologies into existing systems, saying, “We insert dApps inside telecommunications apps by creating a ‘dApp playstore’ inside the telecommunications app.” He noted that the company’s strategy involves partnerships with telecommunications providers in emerging regions to tap into their user bases, helping bring new audiences into the Web3 space. 

To address the technical challenges of integrating Web2 and Web3, The Binary Holdings relies on The Binary Network, also known as The Web3 Distribution Network. Parikh described this as a middleware solution that allows seamless embedding of decentralized applications within telecommunication platforms.

“Through this infrastructure, we enable the distribution of $BNRY tokens, effectively serving as the bridge that connects traditional Web2 user bases to Web3 ecosystems, fostering tokenized interactions and adoption,” he said. 

Looking ahead to the launch of Millenia in 2025, Parikh shared the company’s plans to transform cross-border payments, as Millenia will enable users to transfer digital currencies without the need for traditional bank accounts.

“Users can send $BNRY or various other digital currencies to relatives across our telecommunications partners for a smaller fee than they would through traditional channels," he said. "Transacting via Millenia would also mean that users are not required to have a bank account, and are not restricted by banking rules or constraints. All a user needs to do is have a Web3 wallet to send money." 

Parikh highlighted several advantages of Millenia, including faster transaction times enabled by Layer 2 blockchain technology, reduced costs by eliminating intermediaries, and greater accessibility through integration with telecommunications platforms. The service also incorporates compliance measures to adhere to local and international financial regulations, ensuring secure transactions. 

Reflecting on the challenges of integrating Web2 and Web3 systems, Parikh acknowledged the need to simplify complex technologies for users. “Most Web2 users shy away from Web3 products, because they don’t understand how to use them," he explained. "We fix this issue by abstracting away all the complexities of using Web3 products from the moment the user enters the dApp playstore. We auto-assign a non-custodial Web3 wallet for them in the background, the $BNRY distributed are never termed as tokens, and for all intents and purposes, dApps appear like regular apps that don’t need to be ‘onboarded’ to use.” 

Parikh also addressed the importance of scalability and security in this integration. “The Web3 Distribution Network, is built on the Optimism Stack and is part of The Superchain Ecosystem," he pointed out. "This is a Layer2 solution that can process transactions at a much faster rate than its base chain: Ethereum, while deriving its security and finality from the Layer1, the most secure blockchain on the planet. Thus, combining the best of both worlds.” 

Commening on the investment, Talal Samy, investment associate at ABO Digital, said in a statement: “We are excited to collaborate with The Binary Holdings at such a pivotal time in the evolution of the digital economy. The company’s ability to innovate, scale, and bring real-world solutions to a global audience is unmatched. Their groundbreaking work in creating seamless global interoperability and fostering mass adoption of decentralized technologies aligns perfectly with our mission, and we are proud to support them as they continue to shape the future of Web3.”