According to Foresight News, former SoftBank executive Akshay Naheta has established a company called DTR in the United Arab Emirates International Financial Free Zone, in collaboration with Hong Kong-based DRAM Trust. The partnership aims to launch a new stablecoin backed by the local currency, the UAE dirham. The stablecoin is designed to provide greater currency stability for individuals in high-inflation countries such as Turkey, Egypt, and Pakistan, helping them to hedge against inflation risks. Additionally, the stablecoin will serve as an alternative to the SWIFT system. The stablecoin will be usable on decentralized exchanges (DEX) such as Uniswap, SushiSwap, and PancakeSwap. Naheta revealed that the team plans to collaborate with centralized exchanges (CEX) in the future.