UAE Launches Dirham-Backed Stablecoin Under New Dubai Crypto Regulation Push

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2025-04-29 07:59:01

The UAE is positioning itself as a fintech hub with the launch of a Dirham-backed stablecoin, a collaborative effort by International Holding Company (IHC), ADQ, and First Abu Dhabi Bank (FAB). This move challenges the dominance of US dollar-pegged stablecoins and aligns with global trends toward national digital currencies.

The stablecoin will operate on the ADI blockchain, a locally developed platform, aiming to facilitate secure and efficient cross-border transactions for individuals and enterprises. Regulatory oversight will fall under the Central Bank of the UAE, ensuring compliance and stability.

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