#AbuDhabiStablecoin

Abu Dhabi is advancing its cryptocurrency strategy with plans for a new dirham-backed stablecoin, announced on April 28, 2025, by ADQ (a sovereign wealth fund), First Abu Dhabi Bank (FAB), and International Holding Company (IHC). This stablecoin, fully regulated by the UAE Central Bank, will operate on the ADI blockchain and aims to facilitate digital payments and enhance the UAE’s digital asset ecosystem. This follows the UAE’s launch of AE Coin, its first dirham-backed stablecoin, in December 2024, as part of the Central Bank’s “Digital Dirham” strategy initiated in March 2023. The UAE’s crypto-friendly regulations, including the recognition of stablecoins like Tether’s USDT and Circle’s USDC, and a $2 billion investment by Abu Dhabi’s MGX in Binance in March 2025, underscore its ambition to become a global crypto hub