This chapter aims to explore the evolution of transnational decentralized finance and its impact on the state governance in countries of the Global South. It focuses on unpacking the ways state governance has evolved to manage the growing volume of trade and economic activities via unconventional media of exchange. While it surveys the risks, dangers and threats to the security of states in the Global South, it uses the case study of the United Arab Emirates (UAE) to highlight the transformations in state governance of decentralized finance. In so doing, it reveals that the UAE has adopted a dynamic, evolutionary and adaptive governance model that continues to prioritize national security, while simultaneously embracing the global trends in new financial transactions. The analysis of the UAE case underscores the significance of market and state transformations, underpinned by quick, adaptive and bold political-economic decisions, laws and security understandings to cope with ever so changing media of exchange. The UAE showcases that, while one-size-fits-all policies in decentralized finance are far from the norm, the development of infrastructures to manage transnational trends remain crucial for the preservation of security.