The launch of a stablecoin based on the dirham, fully regulated by the Central Bank of the UAE, marks a defining moment in the transformation of the global financial system. For the first time, the government of a major oil economy demonstrates readiness to transition part of its monetary circulation into a blockchain format—with direct regulatory oversight and a strategic goal: to create a competitive center for digital assets.
This is not just a technical innovation. It is an attempt to create an alternative to the US dollar in regional and intergovernmental settlements. If the dirham-based stablecoin gains liquidity, legal support, and trust from partners (especially from Asia and Africa), it could trigger a chain reaction. Other countries will begin to create similar instruments—with the aim of reducing dependence on SWIFT and dollar hegemony.
For the crypto industry, this is a signal: the future lies in hybrid forms. Not "DeFi against banks," but the integration of blockchain technologies into public finances. Therefore, those building the infrastructure should prepare: true competition lies ahead.