Abu Dhabi Unveils Dirham-Backed Stablecoin Project for Easier Digital Payments

Three influential Abu Dhabi organizations, ADQ, First Abu Dhabi Bank (FAB), and International Holding Co., are collaborating on a groundbreaking digital currency initiative. This stablecoin will be pegged to the UAE’s official dirham currency and overseen by the Central bank of the United Arab Emirates for secure operation. The goal is to simplify and accelerate digital payments within the UAE, facilitating the nation’s transition to modern digital money systems. The trio’s collaboration aims to launch this new stablecoin after securing regulatory approvals to ensure it meets legal standards. ,