The ADI Foundation, Finstreet Limited and BlockBooster have signed a memorandum of understanding to explore collaboration on regulated tokenised products and related infrastructure, according to a joint statement from the organisations.
The MoU sets out three areas for potential cooperation. One is the possible development of a UAE dirham-backed stablecoin, covering market development, distribution channels and on-chain usage. Another is institutional-grade tokenised assets, where the parties will explore sourcing, structuring, tokenisation and listing of assets such as private credit, private equity and technology-related investments for institutional investors.
Ecosystem development
The third area concerns ecosystem development, including supporting infrastructure, asset onboarding, investment opportunities and coordinated go-to-market activities. BlockBooster, described as a Web3 venture studio and asset manager focused on stablecoins and real-world assets, is expected to assess the viability of these collaboration areas together with ADI and Finstreet.
The parties state that any projects resulting from the MoU would be subject to relevant regulatory approvals.
