#NewCryptocurrencies
Abu Dhabi Launches New Stable Digital Currency Backed by the Dirham
The International Holding Company, ADQ, and First Abu Dhabi Bank have announced joint plans to launch a new stable digital currency backed by the UAE dirham. The currency will be fully regulated and supervised by the Central Bank of the UAE. First Abu Dhabi Bank will issue the currency once all necessary approvals are received.
This new stablecoin will mark a major turning point. It will make payments easier and support both local and global business transactions. It will also strengthen the UAE’s position as a global leader in blockchain innovation, support its role as a hub for financial technology, and boost the country's digital infrastructure.