Abu Dhabi’s Finance Titans Launch Dirham-Backed Stablecoin

Three major financial powerhouses in Abu Dhabi—the sovereign wealth fund ADQ, First Abu Dhabi Bank (FAB), and the International Holding Company (IHC)—have announced plans to launch a stablecoin pegged to the UAE dirham. This move follows an April 28 announcement with pending approval from the UAE’s central bank. The initiative could significantly impact the global blockchain landscape as it positions the Emirates as a leader in digital currency innovation.