#AbuDhabiStablecoin

Recent developments indicate significant movement in Abu Dhabi regarding stablecoins. Just yesterday, April 28, 2025, entities including IHC, ADQ, and First Abu Dhabi Bank (FAB) announced plans to launch a dirham-backed stablecoin, fully regulated by the UAE Central Bank. This initiative aims to streamline payments both locally and globally and will operate on the ADI blockchain.

Furthermore, the Abu Dhabi Global Market (ADGM) has been proactive in establishing a regulatory framework for Fiat-Referenced Tokens (FRTs), a category that includes stablecoins. This framework, which came into effect in December 2024, aims to balance innovation with financial stability and investor protection. Earlier today, April 29, 2025, Circle, a major stablecoin issuer, announced it received in-principle approval from ADGM's Financial Services Regulatory Authority (FSRA) to operate as a money services provider, a significant step towards potentially issuing stablecoins within ADGM's regulatory environment. These developments signal Abu Dhabi's commitment to fostering a regulated and innovative digital asset ecosystem, particularly in the stablecoin space.