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Palm Azgar Finance has officially deployed its Shariah-compliant PUSD stablecoin on the ADI Chain Layer-2 network. The stablecoin's reserves are composed of Saudi riyals and UAE dirhams, both of which are pegged to the US dollar, ensuring regional stability. Notably, PUSD is the second asset to be integrated into a specialized settlement platform backed by major Abu Dhabi entities. This strategic expansion targets the $3 trillion global Islamic finance market by providing institutional-grade digital infrastructure. The deployment is designed to enhance cross-border transaction efficiency and bridge the gap between traditional Islamic finance and blockchain technology. Analysts view this move as a significant step toward accelerating institutional adoption of regulated digital assets in the Gulf.
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