The UAE is set to launch its first dirham-backed stablecoin in a joint initiative by IHC, ADQ, and First Abu Dhabi Bank (FAB), with regulation from the Central Bank of the UAE (CBUAE). Once approved, the stablecoin will support seamless digital transactions across the UAE and beyond.
Pegged to the UAE dirham, the stablecoin offers a secure, low-volatility digital currency for businesses, consumers, and institutions, streamlining payments in both every day and advanced digital scenarios. It will support emerging use cases such as AI-powered transactions and machine-to-machine payments.
The currency will be built on the ADI blockchain, a UAE-developed platform that enables compliant blockchain-based financial systems. The foundation has existing partnerships with over 20 governments worldwide, bridging traditional finance with blockchain innovation.
Gulf Economist Staff Writer