Swiss company DTR presents a Dirham-supported stablecoin, DRAM, aiming to facilitate global value transfer. Despite its non-availability in UAE and Hong Kong, the token, developed by Dram Trust is listed on decentralized exchanges like Uniswap, PancakeSwap trading with Binance Coin.
Search Results for: UAE Dirham
Unfolding the DRAM Narrative: A Dirham-Backed Stablecoin Amid Regulatory Challenges
“Distributed Technologies Research has developed DRAM, a Dirham-backed stablecoin listed on DeFi protocols Uniswap and PancakeSwap. The stablecoin aims to bring stability to countries with high inflation, linked to UAE’s native currency performance. However, regulatory limitations present challenges to its acceptance and growth.”
UAE’s First Licensed Crypto Exchange: A Leap Toward Regulatory Acceptance or a Step into Decentralization Dilemma?
In a significant boost for the crypto landscape, Middle-Eastern crypto exchange Rain has secured a license to operate in the United Arab Emirates (UAE). This marks Rain as the first regulated crypto exchange in the UAE, enhancing smoother transactions between the local UAE dirham and cryptocurrencies.
Hong Kong and UAE’s Central Banks Collaborate on Blockchain: CBDCs, mBridge, and Virtual Assets
Hong Kong and the UAE central banks are strengthening financial cooperation, focusing on virtual asset regulation and integrating central bank digital currencies (CBDCs) for cross-border trade transactions. The countries are collaborating on mBridge, a blockchain supporting multiple CBDCs, promising progress despite political complexities.
Bitcoin’s Downward Spiral Despite Optimistic Events in Crypto World: A Market Analysis
“Despite positive developments like the introduction of Ether ETFs and a UAE Dirham-based stablecoin, Bitcoin continues to decline, now valued below $28,000. Influenced by declining US bond yields and overbought signals, the crypto market fell 0.90% over 24 hours. While Bitcoin sees substantial investments, Ether suffers consistent outflows, clouding the future of digital assets.”
Dubai: The Emerging Epicenter of Crypto Innovation and Regulation
OKX Middle East receives an MVP Preparatory license from Dubai Virtual Assets Regulatory Authority, preparing for its license to become operational. The exchange plans to offer spot, derivatives, and fiat services, and recognizes Dubai’s comprehensive regulation standards as crucial to their regional strategy.