#AbuDhabiStablecoin

The largest bank in the United Arab Emirates, FAB, will launch a stablecoin in partnership with the sovereign investor ADQ and IHC.

First Abu Dhabi Bank (FAB) plans to launch a stablecoin in dirhams in collaboration with the investment firm IHC and the sovereign investor ADQ. The stablecoin will be issued on the ADI blockchain, subject to regulatory approval from the Central Bank of the UAE.

The partners stated that the intention is for the stablecoin to be used by consumers, businesses, and institutions, both nationally and for cross-border payments, as well as for machine-to-machine payments with AI.