A Dirham-backed stablecoin, DRAM, has been launched by Distr

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A Dirham-backed stablecoin, DRAM, has been launched by Distributed Technologies Research (DTR), aiming to provide exposure to the United Arab Emirates' native currency for countries experiencing high inflation. Developed by former MIT alumnus and SoftBank executive Akshay Naheta, DRAM is an Ethereum ERC-20 token issued by DRAM Trust. The stablecoin was listed on Decentralized Finance protocols Uniswap and PancakeSwap on Oct. 3. Although DTR cannot offer DRAM in Hong Kong or the United Arab Emirates, discussions are underway to provide token liquidity for listing on centralized exchanges outside these jurisdictions.

A Dirham-backed stablecoin, DRAM, has been launched by Distributed Technologies Research (DTR), aiming to provide exposure to the United Arab Emirates' native currency for countries experiencing high inflation. Developed by former MIT alumnus and SoftBank executive Akshay Naheta, DRAM is an Ethereum ERC-20 token issued by DRAM Trust. The stablecoin was listed on Decentralized Finance protocols Uniswap and PancakeSwap on Oct. 3. Although DTR cannot offer DRAM in Hong Kong or the United Arab Emirates, discussions are underway to provide token liquidity for listing on centralized exchanges outside these jurisdictions.

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