Palm Azgar launches dirham- and riyal-backed stablecoin
Palm Azgar Finance Company, a licensed financial services provider based in Riyadh, has announced the launch of PUSD, a stablecoin issued through its British Virgin Islands affiliate and fully backed by UAE dirhams (AED) and Saudi riyals (SAR) reserves. The digital asset maintains a 1:1 peg with the U.S. dollar, with reserves held in regulated, Shariah-compliant Gulf institutions.
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Muhammad Ali Bandial