UAE’s FAB Bank and ADQ Forge Ahead with Dirham-Pegged Stablecoin—Because the World Needed Another Bank-Issued Crypto
First Abu Dhabi Bank (FAB)—the UAE’s largest lender—teams up with sovereign wealth giant ADQ to launch an AED-backed stablecoin. Because nothing screams ’decentralization’ like a state-aligned digital currency.
Why it matters: This isn’t just another stablecoin play. It’s a strategic move to digitize the dirham’s dominance in MENA trade corridors—while conveniently bypassing SWIFT’s glacial rails.
The fine print: Expect heavy-handed regulation (this is the UAE, after all) and institutional-grade KYC. Retail traders hoping for anonymity should stick to dodgy DeFi pools.
Bottom line: Banks still want a piece of crypto’s action—they just insist on wearing suits while doing it.
The FAB AED stablecoin will be built on ADI Blockchain
The new stablecoin will operate on the ADI blockchain, developed in the UAE by the ADI Foundation. The network will provide a compliant distribution network for blockchain payments.
ADI Foundation connects established financial systems with next-generation blockchain technology to create real-world impact, allowing citizens of emerging countries to compete and operate on a global scale, which previously would have been impossible. ADI Foundation already has strategic partnerships with governments in over 20 countries.
The ADI Foundation is a non-profit organization dedicated to helping governments connect with trusted partners to advance digital transformation and blockchain adoption worldwide. Rooted in Abu Dhabi, the Foundation leverages its $120 million fund and a global network of partners to deliver blockchain solutions that enhance trust, transparency, and efficiency in key sectors such as healthcare, financial systems, sustainability, and governance.
Guillaume de La Tour, CEO of ADI Foundation, commented, “This stablecoin marks a pivotal milestone in the UAE’s journey toward a more inclusive and digitally empowered economy. By leveraging the ADI blockchain, we are enabling secure, transparent, and efficient transactions at scale — built on technology developed right here in the UAE.”
H.E. Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ, noted that the launch of the stablecoin is a pivotal step in their commitment to strengthening the UAE’s digital infrastructure.
He believes stablecoins will provide a solution that is secure, efficient, and scalable, while creating new opportunities for growth and value creation.
Syed Basar Shueb, CEO of IHC, added, “This new stablecoin represents a major breakthrough in the development of digital currencies. By bringing IHC’s expertise in blockchain and fintech, we look forward to working with our partners to explore its vast potential and drive innovation in the UAE.”
UAE has already regulated the AE Coin stablecoin
This is not the first AED stablecoin that will be launched in the UAE. Already, the UAE Central Bank has licensed the AE Coin developed by MBANK. In addition, Tether is also in the process of launching an AED stablecoin in the UAE.
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