FAB and Libre Capital sign MoU on blockchain-powered collateralised lending
18 December 2024 Abu Dhabi
Image: phive2015/stock.adobe.com
First Abu Dhabi Bank (FAB) and Libre Capital have signed a memorandum of understanding to explore lending solutions using blockchain technology.
The collaboration aims to transform lending by introducing a fully automated, transparent and efficient ecosystem.
According to FAB, the partnership will see the two entities assess blockchain-powered collateralised lending for tokenised real-world assets, starting with stablecoin lending backed by high-quality tokenised money market funds.
By using tokenised assets as collateral, FAB says it is advancing secure credit facilities with robust compliance to global regulatory standards.
In an online statement, Sameh Al Qubaisi, group head of Global Markets at FAB, says: 鈥淏y combining FAB鈥檚 financial expertise with Libre鈥檚 blockchain infrastructure, the initiative aims to make lending more efficient, transparent, and automated through smart contracts and real-time updates.
鈥淭his collaboration bridges traditional finance with blockchain technology, aligning with the UAE鈥檚 vision of becoming a global financial and tech leader.鈥�
The collaboration aims to transform lending by introducing a fully automated, transparent and efficient ecosystem.
According to FAB, the partnership will see the two entities assess blockchain-powered collateralised lending for tokenised real-world assets, starting with stablecoin lending backed by high-quality tokenised money market funds.
By using tokenised assets as collateral, FAB says it is advancing secure credit facilities with robust compliance to global regulatory standards.
In an online statement, Sameh Al Qubaisi, group head of Global Markets at FAB, says: 鈥淏y combining FAB鈥檚 financial expertise with Libre鈥檚 blockchain infrastructure, the initiative aims to make lending more efficient, transparent, and automated through smart contracts and real-time updates.
鈥淭his collaboration bridges traditional finance with blockchain technology, aligning with the UAE鈥檚 vision of becoming a global financial and tech leader.鈥�
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