#AbuDhabiStablecoin

On April 28, 2025, three major Abu Dhabi institutions—ADQ (a sovereign wealth fund), First Abu Dhabi Bank (FAB), and International Holding Company (IHC)—announced plans to launch a stablecoin pegged to the UAE dirham. This digital currency will be fully regulated by the Central Bank of the UAE and issued by FAB, pending regulatory approval. The stablecoin is set to operate on the ADI blockchain, developed by the ADI Foundation, and aims to support various use cases, including machine-to-machine transactions and AI-driven payments.

---

💱 DRAM: A Private Dirham-Backed Stablecoin

Separately, Distributed Technologies Research (DTR), led by former SoftBank executive Akshay Naheta, has launched DRAM, a dirham-backed stablecoin. DRAM is an ERC-20 token issued by Hong Kong-based Dram Trust and is available on decentralized platforms like Uniswap and PancakeSwap. While DRAM is not currently available in the UAE or Hong Kong, discussions are ongoing to list it on centralized exchanges outside these jurisdictions.

---

🌐 UAE's Broader Digital Currency Strategy

These initiatives are part of the UAE's broader strategy to position itself as a global hub for digital assets. The country has been proactive in developing a regulatory framework for cryptocurrencies and has previously introduced AE Coin, the first UAE dirham-backed stablecoin approved by the Central Bank. Additionally, Tether announced plans to launch a dirham-pegged stablecoin in collaboration with local partners, pending regulatory approval.