UAE Launches Revolutionary Stablecoin Using Dirham Currency

The United Arab Emirates is taking a significant step towards becoming a global leader in cryptocurrencies. The Abu Dhabi sovereign wealth fund ADQ, conglomerate International Holding Company (IHC), and First Abu Dhabi Bank (FAB) have announced a groundbreaking collaboration to develop a stablecoin backed by the UAE dirham, fully regulated by the country’s central bank. This project is part of a wider initiative to establish the UAE as a global hub for digital assets.