Abu Dhabi's Dirham-Backed Stablecoin
1. Abu Dhabi's ADQ, IHC, and First Abu Dhabi Bank are launching a dirham-backed stablecoin regulated by the UAE Central Bank.
2. This move is part of the UAE's national strategy to grow its digital asset economy.
3. Government-backed stablecoins could shape the future of crypto and global payments by providing a more stable and regulated alternative to traditional cryptocurrencies.
This development highlight the growing adoption and integration of cryptocurrencies into mainstream finance.