Life Clips, Inc. announced Belfrics Technologies Limited, a recently formed entity of Belfrics Group, has extended operations in the United Arab Emirates. Belfrics Technologies Limited, a group company of Belfrics Group was admitted to DIFC (Dubai International Financial Centre) under Innovation business category. As part of the group's expansion plan, Dubai was identified as the anchor region for the MENA region.

UAE being one of the most innovative regions, in terms of regulatory approach toward cryptocurrency and blockchain technology, was a natural choice to be chosen as regional hub for Belfrics' Middle East Operations. UAE is in the forefront of blockchain technology adoption in the Middle East and His Highness Sheikh Mohammed launched a ‘UAE Blockchain Strategy 2021', aiming to conduct 50% of government transactions at federal level using blockchain technology. The strategy is aimed to combat future challenges and contribute to AED 11 billion (US $3 billion) spent annually on document transactions and documents, 77 million hours of work, reduce government documents by 389 million and save 1.6 billion kilometers spent driving.

Belfrics' proprietary blockchain Belrium will complement His Highness' initiative as the blockchain specifically addresses identity and document management. Belfrics will be focusing on deploying decentralized applications for the government and non-government sectors in the health, education and human resource sectors. Belfrics office is located in the Central Park Towers, one of the most prestigious business towers in the UAE.

Belfrics will further proceed to apply for the newly launched ITL (innovation testing license) for digital assets trading by DIFC. Dubai and the Dubai International Financial Centre (DIFC), the leading global financial centers in the Middle East, Africa and South Asia (MEASA) region, have topped the global ranking in attracting foreign direct investment (FDI) projects in the financial services sector in 2021, according to a report by the Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economy and Tourism (DET). Through this new expansion, Belfrics Technologies Limited will be able to harness opportunities in the Middle East, Africa, and South Asia (MEASA), which comprise 72 countries with an approximate population of 3 billion and a nominal GDP of US$7.7 trillion.