#AbuDhabiStablecoin 🪙🌟🇦🇪: ADQ, FAB, and IHC aim for global digital leadership 💼🪙
♟️In a new strategic move that reinforces its ambition to become a global hub for digital assets, Abu Dhabi announced the development of a fully regulated new stablecoin, backed by dirhams (AED). ⚖️🧩
The project is a high-profile alliance between the sovereign fund ADQ, the conglomerate IHC, and the First Abu Dhabi Bank (FAB), the largest bank in the country by assets. According to Reuters reported this Monday, the launch is subject to final approval by the Central Bank of the United Arab Emirates (CBUAE), which will oversee the regulation of the token. 🏛️🔍
Unlike many existing stablecoins, this asset will be issued by a traditional financial institution, backed by a central bank, which could set a new standard in the convergence between traditional finance (TradFi) and Web3. 🏦➕🌐
👉🏻What does this new stablecoin propose?
• Backed 1:1 in dirhams
• Institutional issuance (FAB)
• Regulatory oversight (CBUAE)
• Widespread use in everyday payments and digital commerce
• B2B, B2C, and institutional focus
👉🏻This announcement adds to a series of recent advancements in the UAE:
• The launch of AE Coin last December, a similar stablecoin.
• The $2 billion investment of MGX in Binance, announced in March.
• An evolving legal framework that prioritizes regulatory clarity, innovation, and attracting international capital.
🌍⚙️ In a context where global players in the crypto ecosystem (like Circle or Tether) have dominated the stablecoin market, the creation of regional tokens backed by local currencies and state regulators represents a new wave of geoeconomic decentralization within the crypto universe itself.
It could also be a way to independent economic flows from the hegemony of the dollar in digital payments, while maintaining value stability. Interesting, isn’t it? 🤔
📌 Source: Reuters
🤔💭 What do you think?
Could these regional stablecoins change the balance of the global digital payments market?
Will we soon see 100% regulated stablecoins in LatAm or Europe?
👉🏻💬Comment your analysis below
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