#AbuDhabiStablecoin

The United Arab Emirates is taking a new step in its ambitions to become a global center for cryptocurrencies. The Abu Dhabi Sovereign Wealth Fund ADQ, conglomerate International Holding Company (IHC), and First Abu Dhabi Bank (FAB) announced their collaboration on Monday with the aim of creating a dirham-backed stablecoin that is fully regulated by the central bank of the Emirates.