Abu Dhabi Trio to Launch Dirham-Backed Stablecoin
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Three major Abu Dhabi entities—ADQ, First Abu Dhabi Bank (FAB), and International Holding Co.—are collaborating to introduce a UAE dirham-pegged stablecoin. The project, pending regulatory approval, aims to streamline digital payments and bolster the nation’s adoption of blockchain-based financial systems.
FAB will spearhead the stablecoin’s development, with CEO Hana Al Rostamani emphasizing its role in modernizing transactions. The Central Bank of the UAE will oversee compliance, ensuring the asset meets stringent legal and safety standards.
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