#AbuDhabiStablecoin

Abu Dhabi Dirham-Backed Stablecoin Project

Abu Dhabi has announced an ambitious project to launch a stablecoin backed by the Emirati dirham, in collaboration between three giants of financial institutions in the UAE. Here are the key details about this project:

Project Participants

The project is led by a three-way alliance consisting of:

- ADQ Sovereign Wealth Fund

- First Abu Dhabi Bank (FAB) - the largest bank in the UAE

- International Holding Company (IHC) - an investment conglomerate with a market value of $243 billion