#AbuDhabiStablecoin A stablecoin is a type of cryptocurrency designed to maintain a stable value relative to a fiat currency, often the US dollar. In Abu Dhabi, FZTEXT, a financial free zone, has launched its own stablecoin, anchored to the UAE dirham. This move aims to promote financial innovation and stability in the region. The stablecoin is expected to facilitate transactions, reduce volatility, and increase efficiency in financial services. By leveraging blockchain technology, Abu Dhabi's stablecoin initiative seeks to attract businesses and investors, further establishing the UAE as a hub for fintech and cryptocurrency innovation. The development is being closely watched.