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Abu Dhabi Doubles Down on Crypto: UAE Giants Team Up to Launch Dirham-Backed Stablecoin
ADQ, IHC, and FAB Unite to Introduce a Regulated Digital Currency as the UAE Accelerates Its Race to Be a Global Crypto Hub
Abu Dhabi isn’t just dipping its toes into crypto — it’s diving in headfirst.
In a powerful show of force, sovereign wealth fund ADQ, conglomerate IHC, and the UAE’s largest bank First Abu Dhabi Bank (FAB) have announced plans to launch a new stablecoin backed by the UAE dirham, further solidifying the country's ambitious push to dominate the digital asset space.
The stablecoin, pending approval from the UAE Central Bank, will be issued by FAB and is expected to function as a fully regulated digital currency. According to the companies, the coin is designed for broad, everyday use — from citizens and consumers to businesses and major institutions.
Why it matters:
Stablecoins are gaining global traction for their ability to bridge traditional finance and blockchain. Unlike volatile cryptocurrencies, these tokens are pegged to fiat currencies (like the dirham or U.S. dollar), offering stability and speed in digital payments.
With this move, the UAE is sending a clear message: It’s not just open to crypto — it’s building the future of it.
A pattern of bold investments:
This announcement follows a wave of crypto-forward moves in the UAE, including the December rollout of AE Coin, the country’s first dirham-backed stablecoin. Just last month, UAE-based investment firm MGX made headlines with a $2 billion investment in Binance, one of the largest crypto deals in history.
What’s next?
Once approved, the new stablecoin is set to play a vital role in mainstream adoption — serving as a secure, regulated alternative for digital transactions in both consumer markets and institutional finance.
As the UAE continues to position itself as a global digital finance hub, this collaboration between ADQ, IHC, and FAB could be the spark that accelerates widespread stablecoin adoption in the Gulf — and beyond.
#AbuDhabiStablecoin
Abu Dhabi isn’t just dipping its toes into crypto — it’s diving in headfirst.
In a powerful show of force, sovereign wealth fund ADQ, conglomerate IHC, and the UAE’s largest bank First Abu Dhabi Bank (FAB) have announced plans to launch a new stablecoin backed by the UAE dirham, further solidifying the country's ambitious push to dominate the digital asset space.
The stablecoin, pending approval from the UAE Central Bank, will be issued by FAB and is expected to function as a fully regulated digital currency. According to the companies, the coin is designed for broad, everyday use — from citizens and consumers to businesses and major institutions.
Why it matters:
Stablecoins are gaining global traction for their ability to bridge traditional finance and blockchain. Unlike volatile cryptocurrencies, these tokens are pegged to fiat currencies (like the dirham or U.S. dollar), offering stability and speed in digital payments.
With this move, the UAE is sending a clear message: It’s not just open to crypto — it’s building the future of it.
A pattern of bold investments:
This announcement follows a wave of crypto-forward moves in the UAE, including the December rollout of AE Coin, the country’s first dirham-backed stablecoin. Just last month, UAE-based investment firm MGX made headlines with a $2 billion investment in Binance, one of the largest crypto deals in history.
What’s next?
Once approved, the new stablecoin is set to play a vital role in mainstream adoption — serving as a secure, regulated alternative for digital transactions in both consumer markets and institutional finance.
As the UAE continues to position itself as a global digital finance hub, this collaboration between ADQ, IHC, and FAB could be the spark that accelerates widespread stablecoin adoption in the Gulf — and beyond.
#AbuDhabiStablecoin
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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