Dubai and the rest of the United Arab Emirates (UAE) is moving closer to opening licensed cryptocurrency exchanges, a step that could boost financial inclusion for the millions of expatriates who make up most of the region’s workforce.
Government data show that out of the UAE’s population of more than 9 million, nearly 80% are expats. Last year, the region sent $43 billion in remittances, making it the world’s second-highest sender after the United States, according to the Global Knowledge Partnership on Migration and Development (KNOMAD). The global think tank said the remittance industry makes up about 12% of the Emirates’ gross domestic product.
Along with centralized state-controlled exchanges, there is already a product in the Arab region that can provide fast and cheap decentralized transfers between the UAE and the rest of the world. This fully independent but dedicated to the development of the Emirates, the crypto asset is called DeFi Arabic Cash. 28 July, the project has just finished the presale and has already launched trading on DEX PancakeSwap. And it’s technology allows in the near future to create the own DEX, and a little later to even announce the launch of the world’s first Decentralized Crypto Bank, operating on the principle of loans and deposits.
What is known about Arabic Cash?
Defi Arabic Cash spent about 4 months at PreSale, where it received impressive development indicators and the attention of the crypto community. In total, according to analysts’ estimates, during this time the project has gained over 7,000,000 impressions, the total number of followers on social networks is about 20,000, and there are more than 1,500 early investors, subject to a minimum amount of $300. Now any amount is available for investing in the project.
More recently, Arabic Cash has entered its next stage of development. The developers have launched an open bidding for the ABIC token on DEX PancakeSwap. There, in just a couple of days, the project collected fresh $100,000 in the liquidity pool, and this figure continues to grow. Due to the outflow of early investors immediately after the listing, the price of the ABIC token dropped to its lowest level. This is a good sign for new buyers because the price will tend to move towards its previous highs.
Why is buying an ABIC token attractive now?
The Arabic Cash development team offers excellent conditions in the first months of open sales for all ABIC token holders. In addition to the organic sharp increase in prices, several updates were immediately added to the project, which provide additional income.
Staking 45% per annum – you can multiply the number of ABICs without being tied to other cryptocurrency pairs.
Guaranteed reward + 10% of the deposit for filling liquidity paired with any DEX PancakeSwap cryptocurrency.
Farming on the official website Arabic Cash paired ABIC / BUSD with a total fund of 300,000 ABIC.
Lottery with a total fund of 170,000 ABIC for all liquidity providers with any pair.
Looking at all these promotions, it’s safe to say that Arabic Cash is a great new player in the DeFi market. All indicators, starting with the current price, ending with rewards, indicate that you can invest in this project and look at the rapid growth of profits.
What are the prospects and global solutions for Arabic Cash?
The strong growth rates of the project can promise to create its own DEX Arabic Cash by the end of this year. To do this, Arabic Cash must raise a minimum of $ 20 million in market capitalization. As soon as the developers build the DEX, we can confidently wait for a vertical rise in the price of the ABIC asset, as was shown by the same PancakeSwap or BakerySwap.
After reaching this milestone, Arabic Cash will immediately switch to building the world’s first DeFi CryptoBank. Sounds intriguing, but real. Because technology already allows individual projects to issue loans at interest rates that are controlled by DeFi algorithms. And deposits themselves are like staking. Arabic Cash, even before the PreSale phase, incorporated the possibility of DeFi loans and deposits in its technology. Now these guys only need to collect at least $200 million in the liquidity pool in order to fully launch DeFi CryptoBank Arabic Cash.
If this team succeeds in carrying out these ambitious plans, then their Largest Arab Investment Strategy credo will undoubtedly be confirmed. Initially, the project was created as a fully independent support for the global Emirates’ Blockchain Strategy 2021. Arabic Cash should collect global investments and automatically distribute them for e-commerce in the Arab region, between those companies and startups that need funding. DeFi CryptoBank can expand these horizons 360 degrees.
And the issue of exporting the money earned by migrants for their families in other countries can be resolved now. After all, you can buy and cash out ABIC in a matter of minutes, thanks to the BSC BEP20 technology.