Launch of the First Stablecoin Backed by the Dirham in Abu Dhabi: A Pioneering Step Towards the Digital Economy
In a move that reflects the future vision of the United Arab Emirates, ADQ, IHC, and First Abu Dhabi Bank announced the launch of a new stablecoin fully backed by the Emirati Dirham, and subject to direct regulation by the Central Bank of the UAE. This initiative marks the beginning of a new phase in the world of digital assets, enabling the integration of advanced financial technology within a reliable and secure banking system.
The new stablecoin aims to accelerate digital transformation and enhance the use of digital currencies in daily and commercial transactions, providing a stable and efficient means of payment within and outside the UAE. This step is part of a broader national strategy aimed at establishing the UAE's position as a leading global center for financial innovation.
With the growing global reliance on digital currencies, Abu Dhabi seeks to combine innovation with strict regulation, enhancing investor confidence and ensuring user protection. The Dirham-backed stablecoin represents a bridge between the traditional and digital economies, opening new horizons for investment, financial transfers, and smart banking services.