Fluent Finance Partners with UAE Ministry of Economy for Deposit Token Tech
Fluent Finance, a US-based startup specializing in bridging banking and Web3 technologies, has revealed its partnership with the Ministry of Economy of the United Arab Emirates (UAE) to develop deposit token-based technology. The company will establish operations in Abu Dhabi under the Nextgen FDI growth program and plans to expand its team to over 100 employees.
Fluent Finance to Develop Stablecoin and Deposit Token Technology in UAE
Delaware-based startup Fluent Finance has announced its arrival in the UAE as part of the Nextgen FDI program. The initiative supports digital businesses in launching and scaling their operations from within the UAE. Fluent Finance, founded in 2020, designs solutions that connect banking and Web3 technologies. The company aims to launch its interconnection solution, called the Fluent Economic Bridge, from UAE territory to gather feedback from local banks and regulators. The Fluent Economic Bridge facilitates cross-border settlements using deposit tokens and blockchain technology, providing safety and predictability.
The platform is currently being piloted in Kenya, and Fluent Finance intends to establish a digital corridor with UAE institutions.
UAE’s Support for Digital Assets
The UAE stands out for its Web3-friendly regulatory framework, which supports startups through programs like Nextgen FDI. Bradley Allgood, CEO of Fluent Finance, emphasized that the UAE was the ideal location for launching their settlement solution due to its supportive environment. The combination of forward-looking vision, thoughtful regulation, and technological ambitions creates a solid foundation for developing products and growing organizations.
“The UAE offers exactly the kind of supportive, enabling environment that Web3 companies such as Fluent require.”
Thani Al Zeyoudi, Minister of State for Foreign Trade, stated that Fluent Finance’s partnership reflects the UAE’s efforts to establish itself as a Web3 and blockchain hub. He highlighted the country’s advocacy for modernizing the multilateral trading system and its support for the development of tools and applications that enhance global supply chain efficiency and accessibility.
Hot Take: Fluent Finance Expands to UAE, Boosting Digital Asset Development
Fluent Finance’s collaboration with the UAE Ministry of Economy marks a significant step in bridging traditional banking with Web3 technologies. By developing deposit token-based technology, Fluent Finance aims to enhance cross-border settlements and provide greater safety and predictability. The UAE’s supportive regulatory framework and forward-looking vision make it an ideal location for Fluent Finance’s growth. This partnership showcases the UAE’s commitment to becoming a prominent Web3 and blockchain hub, offering an enabling environment for digital asset development. As the world increasingly adopts digital currencies, this collaboration will contribute to improving global supply chain efficiency and accessibility.
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