Woofun AI reports that Abdulla Kanoo, heir to the Bahraini Kanoo family, is spearheading an initiative to migrate approximately $6 trillion of cross-border trade onto blockchain infrastructure. His co-founded digital asset firm, ARP Digital, is constructing a specialized settlement network intended to streamline capital flows between emerging economies, addressing persistent inefficiencies in the traditional correspondent banking system such as prolonged settlement cycles and restricted US dollar access.

The strategic objective involves minimizing transaction costs and reducing reliance on intermediaries to boost trade velocity within the 'Global South.' Kanoo estimates that emerging market trade volume surpassed $6 trillion in 2024, representing roughly 25% of global trade, with projections indicating expansion to $32 trillion by 2030.