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The UAE has launched a stablecoin backed by the UAE dirham
"ADQ" (Abu Dhabi Developmental Holding Company), "IHC" (International Holding Company), and "FAB" (First Abu Dhabi Bank) have collaborated to launch a new stablecoin backed by the UAE dirham, in a move aimed at enhancing the transition to digital finance.
This stablecoin aims to provide secure and fast payments at both local and global levels, relying on the ADI blockchain.
While the UAE embraces this step, countries like Russia are exploring alternatives to stablecoins backed by the US dollar.
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