I’ve been digging into @TharwaUAE a fair bit recently, most notably because I’ve publicly been an advocate of a potential stablecoin meta that’s been brewing beneath the surface for sometime. We’re seeing a big shift in that landscape right now due to America’s GENIUS Act, the introduction of World Liberty Finance, and the general global attitude towards stablecoin payments. Stablecoins are becoming more and more mainstream and with Ondo, Maple, World Liberty Finance gaining some serious traction the past couple of months and well, this just proves my theory of it brewing - just look at those charts and tvls. Naturally, when we’ve got those performing the way they have and large institutions like Blackrock providing the rails for TradFi into DeFi, you’d be silly not to take what Tharwa is building seriously. So, Tharwa: • stablecoin, $thUSD, backed by real-world assets • diversified mix: gold, oil, real estate, t-bills (sukuk) • returns come from legit RWA fund activity, not crypto loops • AI manages the fund, adjusts in real time based on risk • no depeg ponzinomics, no crypto overcollateral bs (Luna ptsd) • $TRWA token that captures protocol revenue (mgmt + perf fees), gives governance rights, and boosts yield if staked/locked • fully sharia-compliant and UAE-based with doxxed founders (more on this below) • first to tokenize diversified multi-asset funds (not just treasuries or one asset) • vaults coming soon? w/ real returns paid in $thUSD • partnering with some interesting tradfi companies • points campaign live rn, 20% supply is locked for points campaign, multiple seasons, airdrops are vested. So yeah, at first glance, you’d be mistaken to think, okay just looks like someone who’s doing an RWA hedge fund. But then I started to learn about Islamic Finance. Keep in mind, I’m an Australian who loves nothing more than a cold beer and watching tourists get caught in rips at our popular beaches. So the thought that certain financial instruments were off-limits to a particular group of people in the world had never occurred to me. If you’re an uninformed white boy like I am, Islam prohibits interest (riba), speculation (gharar), and investing in anything considered haram (bad). Basically, a whole lot of TradFi and DeFi is a no-go. According to one of Tharwa’s recent posts, the global Islamic finance market will surpass $7.5 trillion by 2028. If these guys have built something that can onramp a portion of this capital into DeFi whilst being compliant, then we might have a serious winner on our hands, considering most projects like Ondo, Maple and WLFI don’t have the rails yet for this. So who’s building this bloody thing? "Saeed Al Fahim" appears to be the CEO, with a publicly doxxed video introducing himself on their socials. Al Fahim is an interesting name in UAE. Turns out Saeed comes from THE Al Fahim family, one of the OG business dynasties in the region. Think real estate, automotive, energy, philanthropy, proper movers. So yeah, not like your average anon dev puishing vapourware. This guy appears to be connected? He’s pulling in legal advisors, fund managers, and asset allocators from day one. They’ve recently partnered with Global Frontier Capital, some green sustainable investment fund (hippies? LOL) but what I found interesting was their close ties to another company, Neovision Wealth, based in UAE and managing many large funds. Back to the Al Fahim name, I started digging further and happened to come across a “Mohammad AlFahim”, who currently is Managing Director at Blackrock UAE. Now, idn if the Al Fahim name is as big as the “Smith” last name in English culture, i.e are they related? But that is a very interesting connection indeed and worth noting. I’m a big believer of backing the right people in this industry and I try to always do my research on them prior, it payed of well for me with Keeta and now I think this will be no different. Backing the right people has always been a winning strategy in finance, especially in early stages. Now, I’ve seen a bunch of people calling out the bundle, yeah, there is one and I can see nothing’s been sold. 90% of projects do it these days to protect the floor. I see both arguments, I'm not having this debate. I don’t see an Al Fahim family member based in UAE doing anything dodgy with what's been bundled as I think he'd be dragged across the coals if he ever so slightly tarnished the family name. But take that with a grain of salt, I've been wrong plenty of times before. So there's obviously a gap here in the market for a protocol such as this and they've got a strong founder with what appears to have very interesting connections. Website is pretty shit, my design OCD was killing me, dapp is in MVP so I'll give that a pass, they've been audited which is good to see. If they can continue building out their product, lock in more institutional partners and give thUSD more liquidity depth, then this might be an Arab like Ondo. But I'll be honest, it's still super early days and they got a long road to go. Anyway, if you're still reading this thanks for listening to my ted talk. Tried to do a more raw/honest format and take with this one cause CT is just full of AI threadoor these days and Im fucken sick of it. Love yahs, hooroo. Socials: X - @TharwaUAE Chart - (I haven't been paid to post, I bought a bag)