Ternoa, the payfi-centric zkEVM L2, announces the launch of athar, a decentralized consumer finance protocol partnered with Arab Financial Services (AFS), a leading PSP in the GCC region with more than 288m transactions processed in 2023, across 33k PoS terminals.

Athar will provide crypto payment, decentralized receivables financing and defi cash management solutions to financial institutions. Based in the UAE, athar is building a fully regulated consumer finance protocol and defi gateway using stablecoins and AI enhanced interfaces to seamlessly integrate in existing retail frameworks. Athar is connected to the agglayer via Ternoa zkEVM, giving access to unified liquidity across polygon & ethereum ecosystem.

In 2025, athar will start processing crypto payment services through a first implementation with AFS, before launching consumer finance and defi gateway features through more intermediaries.

“As vitalik buterin mentioned, the next stage for web3 is to bring real world yield to DeFi. The payment and consumer finance industries are gigantic and onboarding them on ethereum will be a game-changer for the industry, and global adoption of web3 technologies” Mickael CANU, founder and CEO at Ternoa

Ternoa is a zkEVM infrastructure optimized for payments and consumer finance use cases leveraging validity proofs for instant transactions, avail modular DA for cost-efficiency, and trust-minimized with TEE integrity proofs.

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