#AbuDhabiStablecoin

Some prominent Abu Dhabi entities—the sovereign fund ADQ, First Abu Dhabi Bank (FAB), and International Holding Company (IHC)—have reportedly announced plans to issue a new stablecoin anchored to the UAE dirham. The fully regulated stablecoin by the Central Bank of the UAE (CBUAE) is set to incorporate stablecoins into the UAE's payment infrastructures. The project is a significant move toward Abu Dhabi embracing blockchain and cryptocurrency technology. The stablecoin, to be issued by FAB, will be available for consumers, businesses, and institutions pending regulatory approvals. It will probably operate on the ADI blockchain.