UAE merchants to benefit from Changer MOU with Descript crypto fiat settlement solution

UAE regulated Changer.ae Limited, avirtual asset custodian based in Abu Dhabi Global Market (ADGM), has signed a Memorandum of Understanding (MOU) with DeScript Labs INC, a provider of digital asset settlement and merchant technology solutions to offer bring together crypto custody solutions to merchant digital asset settlements.

As per the announcement, Changer will combine its regulated digital asset custody and conversion capabilities with DeScript Labs’ merchant technology infrastructure, including its PayTheFly solution.

Both Changer and DeScript will explore compliant and efficient means for businesses to accept digital assets from customers, while receiving final settlement in fiat currencies. The collaboration is expected to be particularly relevant across high-value sectors in the UAE, including real estate, automotive, and luxury retail, where local and international customers may seek alternative ways to complete transactions using digital assets.

This is important given that the UAE does not allow crypto to be used in the country for products and services purchases, but only AED stablecoins or AED CBDC.

For the parties their aim is to support a seamless connection between the digital asset economy and traditional financial infrastructure, while helping merchants reduce exposure to digital asset volatility.

As for what the merchants will gain, it will be the ability of their customers to pay in digital assets which then are converted to AED fiat funds supported by custody, compliance and settlement process using Changer.

The parties will also explore commercial clearing solutions for corporate entities, including the conversion of digital assets into fiat on behalf of corporate partners. This is intended to support smoother treasury operations, improve settlement efficiency, and facilitate compliant local and cross-border transaction flows between digital asset holders and traditional business networks.

The MOU is effective for an initial term of one year and reflects a mutual intent to collaborate. It is non-binding in nature, except for confidentiality provisions, and is governed by the laws and jurisdiction of ADGM.