Fluent Finance to develop stablecoin technologies in the UAE

Fluent Finance to develop stablecoin technologies in the UAE

Image courtesy: WAM

US-based Fluent Finance will use its new UAE headquarters to deploy and scale its proprietary Fluent Economic Bridge, which can be used by importers and exporters to settle transactions through a bank-issued cryptocurrency.

The blockchain firm, which has joined the Ministry of Economy’s NextGen FDI programme, said by collaborating with banks and regulators its platform provides the immediacy and transparency of cryptocurrency with the security and regulatory structure of the traditional banking system.

The web3 company is piloting the platform in Kenya and plans to develop a digital trade corridor with the UAE.

Fluent’s technology-led approach towards trade aligns with the ministry of economy’s tradetech initiative.

The ministry is partnering with the World Economic Forum in its tradetech initiative to promote the use of innovative technologies in global supply chains and the UAE’s Comprehensive Economic Partnership Agreement (CEPA) programme.

The UAE’s CEPA programme seeks to achieve frictionless trade between the UAE and an increasing number of nations across the world.

Fluent is pleased to announce our activity in the UAE Ministry of Economy’s NextGen FDI programme.

We are as excited to develop and implement deposit token infrastructure in the UAE as we are grateful for the support of @ThaniAlZeyoudi.https://t.co/RPOPPZG0cV

— Fluent Finance (@FluentDAO) October 11,