Abu Dhabi Launches Stablecoin Backed by the UAE Dirham

Abu Dhabi announced the launch of a stablecoin backed by the UAE Dirham, as part of its efforts to enhance innovation in the blockchain field. Here are the details:

Stablecoin Details

- *Partnership*: The partnership between three key institutions in Abu Dhabi has been announced, namely ADQ (Abu Dhabi Sovereign Wealth Fund), First Abu Dhabi Bank (FAB), and International Holding Company (IHC), to launch the stablecoin.

- *Regulation*: The stablecoin will be regulated by the UAE Central Bank and will be backed by the UAE Dirham, ensuring its stability and security.58655021523