#AbuDhabiStablecoin The stablecoin, which will be fully regulated by the UAE's central bank, will be issued by FAB subject to regulatory approval, the three companies said in a statement.

#USDT

"This stablecoin will be used as a reliable digital currency across a wide range of everyday scenarios - by citizens and consumers, businesses and institutions," they said.

Stablecoins are digital tokens designed to keep a constant value backed by traditional currencies such as the U.S. dollar. They have seen rapid growth, both as a form of payment and among traders wanting to buy and sell outside of the regulated banking system.