ADI Chain | Crypto

Shipfinex plans to bring 35 vessels onchain through ADI Chain as tokenization expands into the multitrillion-dollar maritime industry. Dubai-based maritime asset tokenization platform Shipfinex partnered with ADI Chain to tokenize a pipeline of around 35 vessels worth $500 million, as it looks to open new financing channels for shipowners. According to the company, the vessels will be placed in separate special-purpose vehicles, with the resulting tokens potentially representing vessel-backed credit, charter-linked income or other economic interests in individual ships. ADI Chain, an Abu Dhabi-based blockchain focused on stablecoins and real-world assets, will provide the distribution and settlement infrastructure. Primary allocations and distributions are expected to use UAE dirham-, US dollar- and other currency-denominated stablecoins. Read more

The Shariah-compliant stablecoin backed by Gulf currencies expands to a new Layer 2 network aimed at institutional settlement in the Middle East. PUSD, a Shariah-compliant stablecoin backed by Gulf currencies, is set to deploy on ADI Chain, a Layer 2 network focused on institutional settlement in the Middle East. According to an announcement shared with Cointelegraph, the stablecoin has about $2.3 billion in circulation and is backed 1:1 by reserves held in Saudi riyals and UAE dirhams, which are pegged to the US dollar.  It is already available on multiple blockchains, including Ethereum, BNB Chain, Solana and Tron, with ADI Chain marking its latest integration. The stablecoin is positioned to provide access to Islamic finance markets, which represent more than $3 trillion in assets globally, according to the announcement from the ADI Foundation. Read more