Medad Holding, Templeton International to deploy new UAE-based yieldcoin assets

Medad Holding, Templeton International to deploy new UAE-based yieldcoin assets

UAE – Mubasher: Medad Holding and Franklin Templeton (Templeton International) entered a memorandum of understanding (MOU) to form a joint venture (JV) in the UAE, according to a press release. 

The two entities explored with regulators to originate a new tokenised digital asset from the UAE that aims to combine the yield-bearing component of a money market fund security.

The new yieldcoin construct will grant investors use cases for cash and collateral payments, bringing together the traditional and new blockchain-based financial rails.

Mohammed Alshaiba Almazrouei, Chief Operating Officer of Medad Holding, said: “Yieldcoins will combine the best of both worlds.”

“It provides the medium of exchange, unit of account, and ease of use of a stablecoin with a potential for growth by being linked to interest-bearing assets. As such, the yieldcoin project should address a gap that currently exists in the market,” Almazrouei elaborated.

Meanwhile, the yieldcoin project will be developed under a new Web3 entity being set up by Medad Holding. This new entity will anchor Medad Holding’s position for working at advanced and digital businesses, leveraging the reach and network it has established around the globe. 

Franklin Templeton will provide infrastructure and servicing via their BENJI tokenisation suit, which is the only tokenised fund