#AbuDhabiStablecoin

If approved by the regulators of the United Arab Emirates, the dirham-pegged stablecoin regulated by the central bank will operate on the ADI blockchain.

A trio of major institutions from Abu Dhabi, including the emirate's sovereign wealth fund, have partnered to launch a new dirham-pegged stablecoin.

Abu Dhabi's sovereign fund ADQ, the largest bank in the United Arab Emirates, First Abu Dhabi Bank (FAB), and the massive conglomerate International Holding Company have partnered to launch the stablecoin, pending regulatory approval, the three companies announced on April 28.