Zamanat leans on tokenization to open up GCC private credit, plus Neopay buys into noon payments
Zamanat is leveraging blockchain technology to tokenize private credit, aiming to democratize access to capital for underserved businesses across the GCC region. CEO Umair Tariq emphasizes that moving private credit on-chain fundamentally alters the accessibility of financing rather than the underlying credit risk of borrowers. This initiative arrives as the UAE business environment shows resilience, with the PMI holding steady at 55.3 despite rising material costs impacting regional contractors. Simultaneously, the Dubai Financial Services Authority (DFSA) has decided to pause proposed regulatory changes regarding stablecoins and tokenized securities. The regulator intends to further evaluate consultation feedback before determining the next steps for these digital asset frameworks. This pause highlights the cautious approach regional authorities are taking to ensure robust oversight for evolving financial instruments. By integrating tokenization into private credit, firms like Zamanat are attempting to bridge the gap between regional liquidity and local business needs. The broader market impact remains tied to how regulators like the DFSA eventually define and govern these on-chain assets.