Arab Financial Services (AFS), a digital payment solutions provider in the Middle East and Africa, has partnered with PayFi network Ternoa.
The collaboration will help launch Athar, a decentralised consumer finance protocol to make cryptocurrency payments accessible for daily transactions within the Gulf Cooperation Council (GCC) region.
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AFS will deploy Athar-powered crypto payment solutions for merchants across the GCC.
The integration will allow stablecoin payments at point-of-sales (PoS) terminals, aiming to improve transaction efficiency and security for both businesses and consumers.
AFS CEO Samer Soliman stated: “AFS is committed to driving innovation in the payments industry and expanding access to seamless, secure, and future-ready solutions. By integrating stablecoins and decentralized finance, we are unlocking new possibilities for merchants and consumers across the UAE, paving the way for the broader adoption of digital payments in the region.”
Ternoa CEO Mickael Canu said: “The next big step for blockchain and digital finance is making it useful in everyday life. The payments and financial services industries are massive and bringing them onto Ethereum will open up exciting new possibilities. Our partnership using Athar with AFS will make digital payments faster, more secure, and accessible.”
Earlier this month, AFS collaborated with pan-African payment processor and mobile money aggregator Nsano to expand digital payment options across Sub-Saharan Africa by drawing on the combined expertise of both companies.
AFS, regulated by the Central Bank of Bahrain and the Central Bank of Egypt, is owned by a consortium of 37 banks and financial institutions.
It provides services to over 60 banks in more than 20 countries throughout the Middle East and Africa region.
