DTR, a UAE-based company set up by former SoftBank executive Akshay Naheta, has partnered with Hong Kong-based DRAM Trust to launch a new stablecoin, DRAM, backed by the local fiat currency the UAE dirham. The currency is said to be pegged to the U.S. dollar, providing greater stability to individuals in high-inflation countries such as Turkey, Egypt and Pakistan, while also providing an alternative to the SWIFT system. (Bloomberg)