News about Abu Dhabi's stablecoin mainly revolves around the UAE's promotion of the development of the cryptocurrency sector. According to a report from April 28, 2025, Abu Dhabi's sovereign wealth fund ADQ, International Holding Company (IHC), and First Abu Dhabi Bank (FAB) plan to jointly launch a new stablecoin backed by the UAE dirham. This stablecoin will be fully regulated by the Central Bank of the UAE and aims to accelerate the UAE's digital asset strategy, reduce transaction costs, speed up processing times, and optimize fund management for cross-border transfers. This move reflects Abu Dhabi's ongoing investment and innovation surge in the cryptocurrency field. Additionally, earlier reports mentioned that Botim, a communication app under Astra Tech in Abu Dhabi, has tested AE Coin pegged to the dirham and received approval from the Central Bank of the UAE, demonstrating the region's exploration and support for stablecoin applications. It is worth noting that the stablecoin market is rapidly growing globally; according to DeFi Llama data, the total market capitalization of stablecoins has increased from $140 billion at the end of 2023 to over $200 billion at the beginning of 2025. This initiative from Abu Dhabi may further consolidate its leading position in the Middle Eastern cryptocurrency market.