Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
AlloyX and Bahrain FinTech Bay have partnered to accelerate stablecoin innovation and adoption in Bahrain, focusing on regulated digital finance, blockchain integration, and fintech ecosystem collaboration. The initiative supports the Kingdom’s ambition to strengthen its role as a regional hub for digital assets and next-generation financial infrastructure.
Ripple partnered with Bahrain Fintech Bay to advance blockchain and stablecoin adoption, introducing RLUSD and custody solutions to local institutions. The move builds on Ripple’s DFSA license and aligns with Bahrain’s stablecoin framework, enabling pilots in tokenization, payments, and education across the Kingdom’s regulated fintech ecosystem.
UAE telecom operator e& is piloting AE Coin, a dirham-backed stablecoin, for everyday payments such as bills, recharges, and digital services following a partnership with Al Maryah Community Bank. The initiative signals growing regulatory-backed adoption of stablecoins in the UAE’s consumer and financial ecosystems.
Abu Dhabi’s IHC, ADQ, and First Abu Dhabi Bank (FAB) have unveiled a Dirham-backed stablecoin, pending regulatory approval by the UAE Central Bank. The stablecoin, running on the ADI blockchain, aims to enhance the UAE’s digital finance sector, offering secure, stable payment solutions for businesses and consumers.