According to modern global trends, some Emirati monetary institutions intend to launch a new stablecoin backed by the dirham.

These include Abu Dhabi Bank, the largest bank in the UAE in terms of assets, in addition to the sovereign wealth fund of the Abu Dhabi government and the International Holding Company.

The three institutions clarified in a joint statement that this stablecoin will be fully subject to the regulations issued by the Central Bank of the United Arab Emirates.