According to CoinMeta, as reported by The National, the United Arab Emirates and Singapore are becoming important testing grounds for cross-border payments and corporate financial applications using stablecoins. The head of digital currencies for the Asia-Pacific region, Visa, stated that stablecoins are more likely to develop in parallel with the banking system rather than replace banks. SB Seker, the Asia-Pacific regional head, mentioned that the Asia-Pacific digital asset market has grown by about 69%–70% year-on-year, and merchants' acceptance of stablecoin payments is increasing. Currently, Singapore already has applications such as XSGD and tokenized deposits, while the UAE is also advancing DDSC and cross-border payments in digital dirhams. However, industry insiders point out that compliance, foreign exchange conversion, liquidity, and local cash withdrawals remain the main obstacles to further development of the Middle East-Asia stablecoin payment corridor.