A dollar-linked stablecoin built to meet Islamic finance standards is now operating on a new blockchain network anchored in the Middle East, adding a second digital currency to a settlement platform backed by some of Abu Dhabi’s biggest financial names. Related Reading: Consistent XRP Buys Could Deliver Outsized Gains By 2030: Finance Expert Backed By Gulf Currencies, Not Just The Dollar PUSD, issued by Palm Azgar Finance, holds reserves in Saudi riyals and UAE dirhams — both pegged to the US dollar — rather than holding US dollars directly.
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