#AbuDhabiStablecoin Abu Dhabi is advancing its digital finance landscape with the planned launch of a dirham-backed stablecoin, a collaborative effort by three major institutions: First Abu Dhabi Bank (FAB), sovereign wealth fund ADQ, and investment conglomerate International Holding Company (IHC). This initiative, pending regulatory approval from the Central Bank of the UAE (CBUAE), aims to integrate blockchain technology into the nation's financial infrastructure.

Key Features of the Dirham-Backed Stablecoin

Issuer: First Abu Dhabi Bank (FAB), the UAE's largest bank, will issue the stablecoin, contingent on CBUAE's regulatory approval.

Regulatory Oversight: The stablecoin will