Sonic Labs Shifts Course, Embraces UAE Dirham Stablecoin

In a significant move, Sonic Labs has abandoned its planned algorithmic stablecoin project and will now utilize the United Arab Emirates dirham as the basis for its new token. Co-founder Andre Cronje announced this shift in development on X (formerly Twitter). Initially, the company had aimed to launch a US dollar-pegged algorithmic stablecoin with an APR up to 23%, but has since pivoted to develop a mathematically bound numerical dirham based stablecoin. This change aligns with the UAE’s announcement of its digital dirham CBDC in the fourth quarter of 2025.