According to modern global trends, some monetary institutions in the UAE intend to launch a new stablecoin backed by the dirham. This includes 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 regulatory rules issued by the Central Bank of the United Arab Emirates.