Roubini Launches UAE-Approved Token Backed by 9%-Gaining Atlas Fund as Stablecoin Alternative
Updated
Updated · Business Insider · Jul 11
Roubini Launches UAE-Approved Token Backed by 9%-Gaining Atlas Fund as Stablecoin Alternative
2 articles · Updated · Business Insider · Jul 11
Summary
UAE approval clears Nouriel Roubini’s new token for launch in the coming weeks, giving users blockchain-based exposure to his Atlas Americas Fund rather than a fiat-pegged stablecoin.
The token is designed as an interest-bearing, dollar-based parking place for cash, with Roubini arguing ordinary stablecoins lose real value in inflation and fit a world of rising geopolitical tension and de-dollarization.
Atlas Americas Fund holds short-term Treasurys, gold, REIT shares, agricultural commodities and defense stocks; since its November 2024 launch, it is up about 9% and yields a 2.45% annual dividend.
Roubini said the project does not soften his broader crypto skepticism: he called more than 90% of crypto "junk" and said bitcoin, down 45% over 12 months, should keep sliding.