Commonman

Three Abu Dhabi Giants plan Stablecoin backed by UAE's Currency. If it gets the nod from United Arab Emirates regulators new digital currency expected to modernize transactions among consumers and businesses. First Abu Dhabi Bank (FAB), the UAE's biggest lender by assets, has teamed up with UAE sovereign wealth fund ADQ and holding company IHC to launch a dirham backed Stablecoin. The move is part of a strategy to enhance the UAE's digital economy and modernize financial transactions. It is in line with the UAE's vision of establishing itself as a Fintech and innovation hub. "The launch of the Stablecoin marks a pivotal step in our commitment to strengthening the UAE's digital infrastructure ecosystem" said Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ. #StablecoinPayments