On January 8, Raafi Hossain, co-founder and CEO of Middle Eastern fintech company Fasset, which aims to enter the stablecoin space, introduced several examples of customers using stablecoins, including the sale of a $8 million Dubai property, a Tanzanian buyer purchasing Indonesian cooking oil, renting a villa on Palm Jumeirah and a private yacht for $100,000, among others. Fasset is a Dubai-based 'super app' focused on markets from Morocco to Malaysia. Dubai's Careem Networks FZLLC, which offers taxi, food, and financial services, and Abu Dhabi's Astra Tech's communication app Botim are also exploring the launch of payment tools supported by stablecoins. Hossain stated that stablecoins provide users with a way to 'efficiently and quickly conduct high-value transactions that bypass geographical and institutional barriers.' Careem Pay Vice President Mohammad El Saadi noted that the technology 'has the potential to reduce costs, speed up processing times, and improve working capital management for cross-border transfers.' The company has opened 8 new fiat payment channels in the UAE in the past 11 months. Meanwhile, Astra Tech's Product Vice President Rishabh Singh indicated that Botim has been experimenting with AECoin, which is pegged to the dirham and has been approved by the UAE Central Bank.