The UAE seems to continously be witnessing the launch of blockchain and crypto businesses. As such a new entity and utility token has been launched in the UAE. ZPAYae has launched a utility token in the UAE for GCC countries (Gulf Corporation Council).. According to their website ZPAYae is focused upon changing the way Emiratis do transactions and manage their wealth. On their twitter page they described themselves as building a large Sharia compliant business in the UAE to support the blockchain phenomena.
In addition, on their website ZPAYae states that it is partnering with royal offices and businesses to deploy a utility cryptocurrency in the GCC. They claim to be under the patronage of the UAE private office of H.H. Sheikh Hamdan Bin Ahmed Al Maktoum.
From their roadmap they had a private sale on Feb 29th 2020, then on April 10th the trading started on exchanges. Currently they are trading on LATOKEN and EMIREX. In the future they plan to launch XPOS into the Gulf as well roll out a debit card.
As per their website ZPAYae is a mobile centric decentralized crypto banking solution where you leverage the use of crypto point of sales and crypto centric debit cards and use that crypto to spend at merchants.
The vision of ZPAYae is to deliver and deploy an entire ecosystem of products that enable people to earn, spend and transact crypto will only make the vision towards cryptocurrencies and make the blockchain more credible and trustworthy. As the website states, “ We simply will ask you to install our mobile wallet where you will be able to keep your ZPAYae digital token and then link it with your individual ZPAYae Debit Card, then whenever you want to buy or spend ZPAYae anywhere that accepts VISA – you can simply swipe with your card or tap it.”