DMCC has signed a MoU with stablecoin issuer Tether to develop blockchain infrastructure and tokenised finance in Dubai.
The agreement sets a framework for Tether to support blockchain communication and payment systems within the business district.
Tether will also advise on tokenisation, cryptocurrency payments, and digital asset settlements.
The two organisations plan to run educational programmes, hackathons, and industry events. These initiatives are designed to support the crypto centre and the broader digital asset sector in Dubai.
Tether will engage directly with the 26,000 member companies operating within the district. This engagement will include sharing industry knowledge and offering potential commercial benefits.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, noted that financial infrastructure and asset ownership are shifting to digital platforms.
“Through our agreement with Tether, we will explore new avenues for collaboration across blockchain infrastructure, digital payments and tokenisation,”
Ahmed Bin Sulayem said.
Paolo Ardoino, Chief Executive Officer of Tether, highlighted the local market’s approach to integrating digital assets into the broader economy.
“We are focused on accelerating the practical use of blockchain technology across areas such as tokenisation and education,”
Ardoino said.
The business district currently houses more than 4,000 technology firms.
The partnership reflects an ongoing strategy to position the area as a convergence point for commodities, capital, and technology.
Featured image credit: Edited by Fintech News UAE, based on image by DMCC
