#AbuDhabiStablecoin The State Holding of Abu Dhabi ADQ, the commercial bank First Abu Dhabi Bank (FAB), and the Emirati investment company IHC announced plans to launch a stablecoin pegged to the national currency of the UAE - the dirham, as reported in a press release by ADQ.

The stablecoin will be issued by First Abu Dhabi Bank and will be fully regulated by the Central Bank of the UAE.

"The launch of the stablecoin marks an important step in our efforts to strengthen the digital infrastructure ecosystem of the UAE," said ADQ CEO and UAE Minister of Investments Hasan Al Suwaidi.