Arab Financial Services (AFS), a leading provider of digital payment solutions in the Middle East and Africa, has partnered with Ternoa to launch Athar, a secure and efficient PayFi network. This collaboration aims to simplify crypto payments, making them accessible and practical for everyday transactions.
The initial rollout of Athar will involve deploying crypto payment solutions powered by Athar at merchant locations across the UAE. These solutions utilize decentralized finance and stablecoins—cryptocurrencies pegged to traditional fiat currencies like the US dollar or UAE dirham—to offer secure, predictable payment options.
Athar will facilitate faster, more efficient transactions for both merchants and consumers. By integrating stablecoins, which provide more stability than traditional cryptocurrencies, AFS and Ternoa are helping merchants and consumers adopt new payment solutions, paving the way for broader acceptance of digital payments in the region.
This partnership marks a significant step toward advancing digital payments in the UAE and beyond, contributing to the growing adoption of blockchain technology in consumer finance. The introduction of Athar is poised to bridge the gap between traditional finance and decentralized finance (DeFi), setting the stage for a fully integrated digital payment ecosystem across the Middle East and Africa.
