AFS Partners with Ternoa Blockchain to Transform Digital Payments in the UAE 🚀💳
AFS Partners with Ternoa Blockchain to Transform Digital Payments in the UAE 🚀💳
In a groundbreaking move for the digital finance ecosystem, Arab Financial Services (AFS), a leading fintech enabler in the MENA region, has teamed up with Ternoa Blockchain to bring billions of retail customers into the world of crypto payments. 🏦💡
A Bold Leap into Crypto Payments 🔗💰
AFS is set to revolutionize stablecoin payments in the UAE by integrating Ternoa’s PayFi network, a secure and cost-efficient decentralized finance (DeFi) solution. This collaboration will enable merchants across the UAE to accept stablecoin transactions via point-of-sale (POS) terminals, making digital payments faster, more secure, and accessible. 📲💵
Introducing Athar: The Future of DeFi in Retail 🏪🔄
As part of this strategic alliance, AFS and Ternoa are launching Athar, a cutting-edge DeFi protocol designed to streamline crypto payments. Athar will empower both consumers and businesses to embrace stablecoin transactions seamlessly, setting the stage for mass adoption of digital assets in everyday transactions. 🚀
Regulatory Green Light: UAE’s Stablecoin Framework 🏛✅
The UAE is leading the charge in stablecoin regulations, having introduced its Stablecoin Payment Token Services Regulation in 2024. Under this framework:
- Only AED-backed stablecoins are recognized as legal tender for purchases within the country.
- Other regulated stablecoins can be used for virtual asset transactions.
The first approved AED stablecoin, AECOIN, has already entered the market, with Tether (USDT) also seeking approval for an AED-backed stablecoin license. 📜💱
Driving Innovation in Digital Finance 🌍💡
Speaking on the partnership, Samer Soliman, CEO of AFS, emphasized the company’s commitment to reshaping the payments landscape:
“By integrating stablecoins and decentralized finance, we are unlocking new possibilities for merchants and consumers across the UAE, paving the way for the broader adoption of digital payments in the region.”
Meanwhile, Ternoa’s CEO, Mickael Canu, highlighted the impact of blockchain technology in everyday financial transactions:
“The next big step for blockchain and digital finance is making it useful in everyday life. The payments and financial services industries are massive, and bringing them onto Ethereum will open up exciting new possibilities. Our partnership with AFS through Athar will make digital payments faster, more secure, and accessible.”
Final Thoughts: The Future of Payments is Here! 🚀🔮
With AFS and Ternoa joining forces, crypto-powered stablecoin transactions are set to become the new normal in the UAE’s thriving digital economy. This partnership is not just a step—it’s a giant leap towards a cashless, blockchain-powered future! 🌍💳
👉 Stay tuned as AFS and Ternoa transform digital finance, one transaction at a time! 🚀💰
- Follow US on LinkedIN
- Check Crypto Weekly