Dubai-based digital finance company Fasset has signed a memorandum of understanding with KOSDAQ-listed NEXUS to explore stablecoin-based financial infrastructure linking the UAE dirham and South Korean won.
The agreement was signed by Fasset FZE and NEXUS CEO Henry Chang at Korea Blockchain Week 2026 in Seoul on 30 September. The companies will focus on payment infrastructure integration, stablecoin settlement and co-branded digital financial products.
As an initial step, Fasset and NEXUS plan to develop a proof of concept connecting NEXUS’s payment infrastructure with Fasset’s system for converting fiat currencies to and from digital assets.
A joint task force will also meet quarterly to guide work on AED- and KRW-linked stablecoin infrastructure, according to the announcement.
Fasset operates a stablecoin-based digital finance platform from Dubai and received a virtual asset service provider licence from Dubai’s Virtual Assets Regulatory Authority in 2023. In August, it raised a $68M Series C led by SBI Group at a $1B valuation.
NEXUS is developing its ONE ecosystem to support the distribution, payment and settlement of games and digital content. After making ONE Store a subsidiary in June, the company has been expanding its fiat payment infrastructure into stablecoins.
Source: Fintech News UAE
