In April 2025, three leading financial institutions in Abu Dhabi – the sovereign fund ADQ, the largest bank in the UAE First Abu Dhabi Bank (FAB), and the conglomerate International Holding Company (IHC) – announced the launch of AbuDhabiStablecoin, a stablecoin pegged to the dirham. This project, regulated by the Central Bank of the UAE, will be an important step in the development of the country's digital infrastructure. The stablecoin will operate on the ADI blockchain, developed by the ADI Foundation, and will be issued by FAB after regulatory approval.
AbuDhabiStablecoin is intended for use by citizens, businesses, and institutions in everyday scenarios, including machine-to-machine transactions and artificial intelligence-based operations. According to Hani Al Rostamani, CEO of FAB, this stablecoin "will revolutionize the ways of interacting with blockchain payments in the UAE." The project supports the UAE's ambitions to become a global leader in fintech, contributing to the modernization of payment systems.
This launch is part of a broader strategy of the UAE in the field of digital assets. In December 2024, the country's first stablecoin, AE Coin, was already introduced, and in March 2025, the local investment group MGX invested $2 billion in Binance. AbuDhabiStablecoin could strengthen the UAE's position in the global cryptocurrency market, increasing investor confidence. Stay updated on cryptocurrency market news and join MiningUpdates to keep informed!