Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
RAKBank has received in-principle approval from the UAE central bank to issue a dirham-backed stablecoin. Fully reserved and blockchain-based, the token strengthens the UAE’s regulated digital payments ecosystem, though adoption and interoperability remain key challenges.
Mastercard has formed new blockchain alliances in the Middle East, including a collaboration with the ADI Foundation, to advance stablecoin payments and asset tokenization. New partners NEO PAY and INFINIOS are adopting stablecoin settlement, expanding faster, compliant digital payment options across the regional financial ecosystem.
Saudi Arabia’s plan to introduce regulated stablecoins is earning strong support from major global exchanges including Bybit and BingX, who see it as a milestone for the region’s digital finance landscape. Backed by the CMA and SAMA, the initiative aims to enhance financial inclusion, speed up cross-border payments, and unlock innovation across fintech, real estate, and retail. As the Kingdom’s fintech sector rapidly expands, stablecoins are poised to become a key pillar of its digital transformation strategy.
Stripe unveiled stablecoin and AI product updates at Stripe Tour Singapore 2025, signaling rapid adoption in Asia’s internet economy. With 73% of businesses optimistic about global expansion, Stripe is expanding programmable financial services, fraud prevention, and cross-border solutions to fuel the region’s digital growth.
Bahrain’s central bank is drafting regulations for stablecoin issuance to reduce transaction costs and expand financial access. The proposed laws aim to regulate digital assets, enhance security, and reduce risks like fraud and money laundering. The central bank will also monitor activities through blockchain tracking tools.