UAE to Launch a Dirham-pegged Stablecoin
Abu Dhabi: IHC, ADQ, and First Abu Dhabi Bank (FAB) have announced plans to launch a Dirham-backed stablecoin, fully regulated by the Central Bank of the United Arab Emirates (CBUAE) and issued by FAB, pending regulatory approval.
This stablecoin aims to revolutionize payment and business transactions locally and globally, positioning the UAE as a leader in global blockchain innovation and enhancing its digital infrastructure.
Designed for secure, verifiable payments, the Dirham-backed stablecoin will facilitate free-flowing identity, governance, and value.
It will serve as a reliable digital currency for citizens, consumers, businesses, and institutions, while supporting digital use cases such as machine-to-machine communication and AI applications.
