Nephos Group has partnered with venture accelerator Brinc to provide accounting, compliance, corporate structuring, and tokenization support to more than 250 startups in Brinc’s portfolio.
Summary
- Brinc founders will gain access to Nephos services covering tax, banking, visas, and corporate structures.
- Stablecoin and Web3 companies can seek proof-of-reserve attestation and tokenization advice.
- The partners will hold workshops on compliance readiness, reserve reporting and cross-border structures.
- U.S. stablecoin rules add another compliance layer for GCC companies seeking American users.
In a Sep. 22 press release shared with crypto.news, Nephos Group said that Brinc’s portfolio companies will be able to use its financial and advisory services through the accelerator’s founder support program. The arrangement covers technology companies across the Gulf Cooperation Council, with added services for startups working on stablecoins, Web3 products and tokenized assets.
Financial terms were not disclosed. Rather than providing a new investment fund, the partnership adds professional services to the capital, mentoring and market support already available through Brinc.
Nephos will provide compliance support from an early stage
Under the agreement, founders can seek help with cross-border tax planning, corporate structures, banking introductions and visa matters. Nephos will also advise digital asset businesses on tokenization and provide proof-of-reserve attestations for companies whose products depend on backing assets.
Reserve attestations assess whether reported assets support an issuer’s claims at a stated point in time. They differ from full financial audits, which examine financial statements and accounting processes across a reporting period. As crypto.news previously explained, proof of reserves does not by itself establish a company’s solvency because it may not show all liabilities, internal controls, or claims against the reported assets.
For an early-stage stablecoin issuer, the distinction affects how information is presented to investors, banks and regulators. A company may need reserve verification alongside legal, accounting and operational controls, depending on the product and the jurisdiction where it is issued or distributed.
Nephos founder and CEO Joe David said founders often build such systems after launching, even though cross-border businesses may need them during their earliest stages.
“The GCC’s tech ecosystem is scaling rapidly, and founders here need professional infrastructure that keeps pace,” David said.
Having relocated to the United Arab Emirates, David said his experience building Nephos and Myna Accountants gave him direct knowledge of the issues companies face while setting up and expanding in the region. The Brinc agreement, he added, will let portfolio founders obtain compliance and structuring services “from day one rather than having to piece it together later.”
GCC stablecoin rules raise the compliance burden
Across the Gulf, digital asset companies operate under national regulators as well as separate financial-center and free-zone frameworks. A startup serving several GCC markets may therefore face different licensing, reserve, disclosure, tax and company-formation requirements.
Dubai’s Virtual Assets Regulatory Authority clarified its token issuance framework in April, setting separate routes based on a token’s design and risk profile. The Dubai issuance guidance placed fiat-referenced and asset-referenced tokens in its first category, with specific requirements covering reserve assets, redemption rights, disclosures and legal structures.
Licensed distributors also carry due diligence and continuing compliance duties for some token offerings under VARA’s framework. Such requirements mean a founder’s choice of issuer, distributor, banking provider and legal entity can affect whether a product can enter the market.
In May, AE Coin and USD Universal introduced a regulated conversion system connecting a dirham-backed token with USDU, a U.S. dollar-backed stablecoin, for institutional settlement in the UAE. The stablecoin conversion rail was built with support from Al Maryah Community Bank and initially offered through regulated providers Aquanow and Changer.ae.
USDU had previously become the first dollar-backed stablecoin registered under the UAE’s Payment Token Services Regulation framework for institutional and professional users. Its approval allowed digital asset-related payments under stated conditions, while mainland retail payments remained outside its permitted scope.
Against that regulatory setting, Nephos and Brinc plan to run workshops for participating founders on compliance preparation, cross-border structures, tokenization frameworks and proof-of-reserve practices. The companies did not provide a schedule for the sessions or identify the first startups expected to take part.
Brinc adds financial services to its accelerator model
Brinc chief marketing officer Nick Ramil said founders seeking to operate across several countries need more than funding and business introductions.
“It requires the right infrastructure, trusted partners, and the ability to navigate complex markets without unnecessary friction,” Ramil said.
Through the agreement, Brinc will connect founders with Nephos while continuing to provide its existing accelerator services. Ramil said the arrangement would give portfolio companies access to financial, compliance and structuring expertise as they build businesses across national borders.
Brinc has previously worked with blockchain accelerators in the region. In November 2024, the firm joined CoinList and Ghaf Group in a 12-week SuiHub program for pre-token projects in the Middle East and North Africa. Selected teams could receive as much as $200,000 in milestone-based funding, alongside technical assistance and networking support.
The Nephos deal uses a different format because it centers on professional services rather than direct startup funding. Brinc’s portfolio includes more than 250 companies spanning blockchain, artificial intelligence, connected hardware, robotics, drones, clean energy, food technology and the Internet of Things.
U.S. rules may affect GCC stablecoin founders
Gulf-based stablecoin companies seeking American customers must also account for the U.S. framework created by the GENIUS Act. The law established licensing, reserve, redemption, disclosure, and compliance requirements for payment stablecoin issuers, while federal agencies continue to develop the implementing rules.
In August, the U.S. Treasury proposed definitions for when a payment stablecoin is issued, offered, or sold in the United States. Under the Treasury stablecoin proposal, issuers generally will need an eligible federal or state license when the law is expected to take effect on Jan. 18, 2027.
Foreign-issued stablecoins face a separate route. According to Treasury, digital asset service providers generally cannot make such tokens available to U.S. users unless the issuer can comply with lawful orders and its home jurisdiction meets requirements connected to regulatory reciprocity.
From July 18, 2028, service providers generally will be barred from offering payment stablecoins to people in the United States unless an eligible licensed issuer issued the token, Treasury said. The agency’s proposal would also define when an overseas company’s activity amounts to an offer or sale to a person in the country.
For GCC founders, those rules can make reserve design, company location and distribution arrangements relevant before a stablecoin reaches American users. Treasury has also proposed anti-money laundering and sanctions duties for permitted payment stablecoin issuers, including systems for identifying suspicious transactions and blocking, freezing or rejecting transfers when legally required.
Brinc is headquartered in Hong Kong and has run programs with companies, public agencies, universities and investment groups. Its past partners include Huawei, Schneider Electric, Puma, Manulife, Hong Kong Science Park, the Mohammed Bin Rashid Innovation Fund, the National University of Singapore, Artesian and Bahrain’s Economic Development Board.
