Kalam Crypto #180: UAE Banks Take Blockchain Mainstream

Innovation distinguishes between a leader and a follower. — Steve Jobs

Ahlan wa sahlan! Welcome to the latest edition of Kalam Crypto, your weekly lens on the evolving digital asset landscape across global markets and the MENA region.

This week, institutional adoption takes center stage as traditional finance continues to embrace blockchain infrastructure. From Circle’s new US banking milestone to UAE banks exploring blockchain-powered payments, the bridge between digital assets and global finance is getting stronger. Meanwhile, stablecoins continue to expand their role in payments, even as crypto liquidity faces new challenges.

Let’s dive straight into this week’s big edition 👇

🌍 Global Market Pulse

🏦 Circle Secures US National Trust Bank Approval

USDC issuer Circle has received final approval from the US Office of the Comptroller of the Currency (OCC) to launch Circle National Trust, a federally regulated national trust bank. The bank will initially provide digital asset custody services for Circle and its affiliates, with the potential to expand custody services to institutional clients in the future. The milestone further strengthens Circle’s regulatory position and could eventually bring USDC reserve management under federal oversight, reinforcing trust in one of the world’s largest stablecoins.

₿ Metaplanet Explores Bitcoin-Backed Digital Credit

Japan’s Metaplanet has partnered with stablecoin issuer JPYC and tokenization platform Progmat to explore Bitcoin-backed digital credit products. The study will examine using Bitcoin as collateral for blockchain-based credit instruments, with JPYC enabling yen-denominated settlements. While no product has launched yet, the initiative reflects Metaplanet’s broader strategy to expand Bitcoin’s role beyond treasury holdings and into Japan’s emerging digital finance ecosystem.

🇺🇸 US CBDC Ban Set to Take Effect Without Trump’s Signature

A bipartisan US housing bill containing a provision that blocks the Federal Reserve from issuing a central bank digital currency (CBDC) is set to become law after President Donald Trump chose not to sign it. The legislation would prevent the creation of a digital dollar or similar asset until the end of 2030. The move could also raise questions around the future of broader US crypto regulation, including the upcoming Digital Asset Market Clarity Act.

📌 Regional Highlights

🏦 Emirates NBD Launches Blockchain-Powered Real-Time Payments

Emirates NBD has become the first bank in the MENA and Türkiye region to go live on Partior’s blockchain-based clearing network, enabling real-time US dollar cross-border payments for corporate and institutional clients. The initiative, with JPMorgan acting as settlement and beneficiary bank, marks a major step in blockchain adoption within traditional banking and reflects the UAE’s growing role in digital financial infrastructure.

🇦🇪 UAE Blockchain Network ADI Chain Raises $50M for Expansion

UAE-based Layer 2 blockchain network ADI Chain has secured a $50 million strategic investment to expand its infrastructure across the Middle East, Africa, and Asia. The funding will support network development, ecosystem growth, and institutional integrations, as ADI Chain focuses on powering blockchain-based solutions for governments, financial institutions, stablecoins, and tokenized assets. The network currently supports initiatives including the UAE dirham-pegged stablecoin DDSC and the ADI Predictstreet prediction market infrastructure.

🌐 SWIFT Expands Blockchain Pilot with UAE Banks

SWIFT has selected First Abu Dhabi Bank (FAB) and Mashreq Bank among 17 global banks to pilot a blockchain-based ledger for cross-border payments. The initiative will explore 24/7 settlement using tokenized deposits, allowing banks to improve payment speed and efficiency while maintaining existing compliance and risk frameworks. The pilot highlights growing institutional adoption of blockchain infrastructure within traditional finance.

Keep an eye on 👀

💵 Stablecoin Activity Hits Record High as Liquidity Shrinks

Stablecoin transaction volume reached a record $1.79 trillion in June, highlighting growing adoption of digital dollars for payments and settlements. However, total stablecoin supply declined by $7.7 billion, suggesting that activity is increasing while available crypto liquidity is tightening. The trend reflects a growing divide between stablecoins as a global payment infrastructure and their role as a source of trading liquidity within crypto markets.

CoinMENA News 🗞️

🎉 $5,000 USDT Trade & Win: World Cup campaign is still on!

Every qualifying trade on CoinMENA enters you into our $5,000 USDT Trade & Win: World Cup edition, where 5 winners will each take home $1,000 in USDT. With a minimum trade of just $50, every trade qualifies you to win.

Post Of The Week 🐥

Fidelity just mapped out Bitcoin’s room, and their model suggests we are currently sitting near the floor.

According to their latest chart, Bitcoin is trading inside what they classify as a macro accumulation zone. Historically, whenever the price trends close to this power law support line, long-term market participants tend to increase their holdings. Instead of analyzing daily price swings, institutions use these macro models to evaluate long-term market cycles. The data highlights a quieter phase where longer-term market participants typically build their positions.

Quiz Corner ✅ 

Last week’s question: How many virtual asset service provider (VASP) licenses has Dubai's Virtual Assets Regulatory Authority (VARA) officially issued to date? 

 The answer:  C) 50 

This week’s question is: Which stablecoin reached a record monthly adjusted transaction volume of $1.79 trillion in June 2026?

A) USDT B) USDC C) DAI D) BUSD

See the answer in next week’s newsletter. Or check out our learning platform https://university.coinmena.com/