HashKey pilots stablecoin payments, Lunate expands ETFs, another tokenization play emerges

HashKey MENA launches stablecoin payments pilot

A Dubai-regulated crypto exchange wants to make moving money between the Gulf and Africa a lot easier. HashKey MENA has teamed up with blockchain player Aptos Foundation and African payments platform Daya to pilot a stablecoin-based payment corridor aimed at cross-border business transactions between the Middle East and Africa, according to a press release.

The plan: The rollout will begin with multinational companies funding payments across borders by converting local currency into stablecoins at one end of the corridor and back into local currency at the other, and will later expand to B2B players. The corridor is expected to support African currencies, with on- and off-ramps linking local fiat currencies to digital assets.

Who is doing what? HashKey MENA will provide regulated fiat-to-stablecoin conversion services from the UAE side, Daya will handle local payment infrastructure and liquidity across African markets, and the Aptos Foundation will support execution on the blockchain network.

Lunate is expanding its ETF platform again

Abu Dhabi-based investment firm Lunate will launch what it says is the first shariah-compliant GCC dividend ETF, with the fund set to list on ADX on 23 June, according to a statement. The ETF will track dividend-paying, shariah-compliant companies across GCC markets including the UAE, Saudi Arabia, and Qatar.

SOUND SMART- Exchange-traded funds are baskets of assets that trade like stocks. Instead of buying individual shares, investors buy a single fund that tracks an index, sector, theme, or strategy — making ETFs a popular way to gain diversified exposure through a single trade.

The launch builds on Lunate’s broader ETF push: Earlier this year, it became the first Abu Dhabi-based asset manager to launch UCITS ETFs in Europe, taking its AI and power-focused fund to the Deutsche Börse Xetra. The latest product will also mark Lunate’s 20th ETF listing on ADX, where ETF trading volumes more than tripled y-o-y to AED 155 mn in 1Q 2026.

Another player is entering the tokenized real estate space

The UAE and US are drawing fresh investment into real estate tokenization infrastructure. Belgium-based digital asset infrastructure provider SettleMint has partnered with real estate AI and blockchain firm Integra to develop systems supporting tokenized property assets across the Emirati and US markets, according to a statement.

What they're building: The agreement will integrate the two firms’ platforms to support on-chain representations of real estate assets, including issuance, administration, and compliance functions. Financial terms and project details were not disclosed.

Real estate tokenization is gaining traction in the UAE:

• The Dubai Land Department launched the first phase of its tokenization initiative last year, focused on tokenized title deeds, and has since moved into a second phase allowing secondary-market trading of tokenized property interests;
• Authorities have also signaled plans to eventually expand the model to non-resident investors, off-plan assets, and digital-currency payments;
• Stake, meanwhile, is moving toward regulated real estate tokenization after securing in-principle approval from Vara.