The launch of Abu Dhabi's stablecoin marks a significant breakthrough in the field of digital finance in the Middle East. On April 29, 2025, the Abu Dhabi sovereign wealth fund ADQ, corporate group IHC, and First Abu Dhabi Bank (FAB) announced plans to issue a stablecoin backed by the UAE Dirham, a project regulated by the Central Bank of the UAE, aiming to promote the digital transformation of the local payment system. This initiative complements the Abu Dhabi Global Market's (ADGM) earlier approval of USDT as a recognized virtual asset policy, creating a two-way channel between traditional finance and cryptocurrency.

From a technical perspective, the stablecoin adopts a fiat-collateralized model, with reserve assets valued daily and strictly matched with circulation, in line with the fiat reference token (FRT) regulatory framework proposed by Abu Dhabi in 2024, ensuring compliance and stability. Compared to dollar-pegged stablecoins like USDT, its advantage lies in directly anchoring to the local legal tender, making it more aligned with the Middle Eastern market demands, especially in cross-border trade and remittance sectors, which have the potential for efficiency improvements. For instance, the UAE has an annual remittance size of about $40 billion, and the stablecoin could reduce the high fees and delays associated with traditional bank transfers.

However, the project still faces multiple challenges. Firstly, the technical security needs to be verified; although the specific blockchain platform has not been disclosed, it is essential to ensure smart contract auditing and resistance to attacks. Secondly, user acceptance is key, as the proportion of non-crypto native users is high in the Middle East, requiring gradual penetration through education and practical scenarios (such as retail payments and supply chain finance). Additionally, competition with established stablecoins like USDT and USDC is fierce, as the latter have already established a presence in the Middle East through partnerships with Binance, Circle, and others.

Abu Dhabi's strategic intent is clear: to promote the development of the fintech ecosystem through stablecoins, attract blockchain companies, and thereby consolidate its position as a global digital economy hub. If the project succeeds, it may trigger similar initiatives in other Gulf countries, reshaping the regional financial landscape. #阿布扎比稳定币