#AbuDhabiStablecoin

Abu Dhabi, the institutional giants IHC, ADQ, and the First Abu Dhabi Bank (FAB) have announced the intention to launch the new stablecoin pegged to the UAE Dirham.

In practice, the new stablecoin will be completely regulated by the Central Bank of the UAE (CBUAE) and issued by the largest bank in the United Arab Emirates, FAB, subject to regulatory approval.

According to what has been stated, the new stablecoin will aim to facilitate payments and conduct business, both locally and globally. Moreover, the idea is that payment with the stablecoin can allow identity, governance, and value to flow freely, securely, and verifiab