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According to a press release, DIFC-based Zamanat is sponsoring the Zamanat Fund CEIC, a tokenized private credit fund that will invest in opportunities across the GCC. The vehicle is targeting up to $100 million and focuses on businesses that traditional lenders often overlook. Professional clients qualifying under the rules will receive ZM1 Investment Tokens issued on the ZIGChain blockchain.
Dubai-based Truleum Venture Partners has been selected to manage the fund with Apex Group providing administrative services. The initiative leverages tokenization to open access to private credit markets in the region. This approach aligns with a broader trend of asset tokenization gaining traction in the UAE and wider GCC.
A report from Stride Ventures indicated that private debt deployment in the GCC reached $4.1 billion in 2025, marking an 8.2-fold increase from the previous year. Fintech accounted for the vast majority of that volume. The data underscores growing interest in non-dilutive financing options for regional startups and SMEs.
In a separate announcement, NEOPAY entered into a definitive agreement to acquire a 65 percent controlling stake in noon payments, the payments arm of the e-commerce platform noon. The transaction, announced on October 5, 2026, remains subject to regulatory and antitrust approvals. It combines NEOPAY’s acquiring network with noon payments’ embedded payments platform and merchant base across the UAE, Saudi Arabia and Egypt.
NEOPAY said the deal will reinforce its leadership in the UAE while expanding into Saudi Arabia and Egypt. The combined entity aims to deliver integrated services including online acceptance, in-store acquiring, faster settlements and value-added financial products. This move comes as the MENA payments sector sees increased consolidation to meet digital commerce demands.
Vibhor Mundhada, CEO of NEOPAY, said, “This is an important milestone in NEOPAY’s journey. We have built a strong payments business in the UAE, and our ambition is now to take that capability across the region.” Faraz Khalid, CEO of noon, added, “Together, we can help merchants grow and make paying easier for millions of customers across the region.” The companies expect the partnership to accelerate merchant onboarding and enhance fraud prevention measures.
The tokenization of private credit by Zamanat reflects ongoing innovation in financial services, building on examples such as Mubadala Capital’s recent tokenized private market fund. Such initiatives seek to improve liquidity and broaden investor participation in alternative assets. Industry observers expect further growth in both tokenized funds and payments infrastructure deals across the GCC.
