The UAE dirham stablecoin launch is officially underway as sovereign wealth fund ADQ, investment holding IHC, and First Abu Dhabi Bank (FAB) announced a collaborative project to create a new stablecoin pegged to the national currency. According to the press release, the initiative will operate under the supervision of the Central Bank of the United Arab Emirates and will be executed through FAB.
UAE Dirham Stablecoin Launch: Strengthening the Digital Ecosystem
The new stablecoin, built on the ADI blockchain platform, is designed for both everyday transactions and complex digital interactions, including AI-driven and smart device automated payments. The UAE dirham stablecoin launch is expected to reinforce the country’s digital financial infrastructure and support the UAE’s goal of becoming a global fintech hub.
Project coordinators highlighted that the stablecoin will not only modernize payment systems but also stimulate innovation across sectors relying on advanced blockchain technologies.
Major Backers: ADQ, IHC, and FAB
ADQ currently manages assets exceeding $200 billion, while International Holding Company (IHC) ranks among the largest publicly traded firms in the UAE by market capitalization. Their joint involvement signals strong institutional backing for the UAE dirham stablecoin launch.
The participation of First Abu Dhabi Bank, the UAE’s largest bank, ensures that the project is firmly integrated into the nation’s existing financial systems.
Regulatory Support and Future Prospects
The Central Bank’s supervision adds legitimacy to the project, aligning with the UAE’s broader strategy to embrace digital finance while maintaining regulatory oversight.
Recently, tech giant Google permitted advertising for crypto exchanges and wallets targeted at the UAE, provided advertisers obtain proper local licenses. This regulatory openness supports a favorable environment for the upcoming UAE dirham stablecoin launch and related innovations.
