#AbuDhabiStablecoin making significant strides in the realm of stablecoins, with a clear focus on regulation and innovation. Here's a breakdown of the key developments:

Recent Dirham-Backed Stablecoin Announcement (April 2025):

* A consortium comprising First Abu Dhabi Bank (FAB), the UAE's largest lender, along with the sovereign wealth fund ADQ, and the holding company IHC, announced plans to launch a new stablecoin backed by the UAE Dirham (AED).

* This stablecoin will be fully regulated by the Central Bank of the UAE (CBUAE) and issued by FAB, subject to regulatory approval.

* It aims to modernize transactions for consumers, businesses, and institutions, enhancing the UAE's digital economy and positioning it as a leading fintech hub.

* The stablecoin will operate on the ADI blockchain, a technology