Facet and Ajman Bank have signed a memorandum of understanding to launch an integrated digital asset service that is compliant with Shariah principles. The deployment targets both retail and institutional customers in the UAE and abroad, based on tokenized real-world assets, a regulated stablecoin framework, and secure transaction access through banks.
Products and rails
Under the agreement, Ajman Bank will employ Facet’s infrastructure to offer tokenized RWAs such as Shariah-compliant ETFs and gold-backed loans.
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The plan includes Islamic finance vetted staking products, a private institutional trading desk for block and programmatic trading, and a stablecoin payment solution to improve cross-border payment speeds and costs.
Compliance, storage, and customer protection
Facet provides end-to-end white-label components: secure wallet solutions, custody, transaction monitoring, and built-in KYC and AML controls.
Ajman Bank will open customer funds accounts separately from operating accounts to meet UAE regulatory requirements and provide greater protection of funds.
Why it matters for UAE banks
This partnership positions leading Islamic banks to bridge the gap between traditional banking and tokenized finance with clear compliance controls.
By integrating blockchain into a Shariah-compliant operating model, the partners aim to expand access to screened RWA, enable faster payments on stablecoin rails, and provide financial institutions with a regulated path to liquidity for digital assets.
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