NEM (XEM) Increases 10% As Foundation Signs MoU With UAE Ministry

The New Economy Movement (NEM)’s platform token XEM increased 10 percent against the dollar last week, increasing from 0.0974 fiat to 0.1046 fiat.

The NEM Foundation has signed a Memorandum-of-Understanding (MoU) with the United Arab Emirates’ Ministry of Community Development (MOCD). The cooperation deal allows NEM to provide consultation services to MOCD on their future blockchain projects. The deal also permits NEM to share valuable data on its blockchain research and development on different applications that could be added into UAE’s data technology systems.

It is the goal of the UAE to become a fully digital government in 2019.

The NEM Foundation is also introducing new blockchain hubs in Melbourne and Vietnam to widen its research and development operations. The foundation has also made a deal with a Las Vegas Strip called Kind Heaven to become their blockchain associate.

The bullish adoption has led XEM to two other exchanges lately. BitPanda, a European crypto exchange, will list XEM against cryptocurrencies such as Bitcoin, Ethereum, IOTA and Ripple while enhancing the token’s liquidity against the first currencies on its trading platform.

Kuna Exchange, a Ukraine-based crypto exchange is also listing XEM-to-crypto and XEM-to-fiat pairs on its trading platform, making it possible for users to directly exchange XEM token with Ukrainian Hyrvnia.