$BNB UAE Launches Dirham-Backed Stablecoin Under New Dubai Crypto Regulation Push

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Abu Dhabi is moving closer to becoming a global fintech leader. Three major UAE organizations, International Holding Company (IHC), ADQ, and First Abu Dhabi Bank (FAB), have come together to launch a brand-new stablecoin backed by the UAE Dirham.However, Abu Dhabi’s ambitious plan challenges the dominance of US dollar-backed stablecoins, as other countries also look to create their national alternatives.

Safe, Fast, and Global Payments

The stablecoin will be issued on the ADI blockchain, a homegrown technology. The goal is to make payments safe and easy for people, businesses, and organizations, both in the UAE and worldwide.