US EditionAbu Dhabi doubles down on crypto as wealth fund, FAB, IHC join forces for new stablecoin
- Circle, the issuer of the second-largest stablecoin, USDC, received in-principle regulatory approval from Abu Dhabi for expansion across the Middle East.
- Stablecoins, cryptocurrencies pegged to fiat currencies like the U.S. Dollar, are rapidly growing digital assets used for crypto trading and payments.
- Circle established a strategic partnership with Hub71 to enhance digital asset technology innovation and provide funding and mentorship to tech startups.
48 Articles
48 Articles
Abu Dhabi doubles down on crypto as wealth fund, FAB, IHC join forces for new stablecoin
Abu Dhabi sovereign wealth fund ADQ, conglomerate IHC , and the UAE's biggest lender by assets First Abu Dhabi Bank (FAB) are planning to launch a new stablecoin backed by dirhams, they said on Monday, as the Gulf country deepens its investment in cryptocurrencies.
Circle Wins Regulatory Nod From Abu Dhabi Watchdog as USDC Hits $62B
Circle, the issuer of the second-largest stablecoin, USDC, said it received in-principal regulatory approval from Abu Dhabi, paving the way for an expansion across the Middle East.The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) granted the company the preliminary green light to operate as a money services provider, edging closer to a full license after incorporating in the financial hub last December.The appr…
Three Abu Dhabi Giants Plan Stablecoin Backed by UAE’s Currency
Three major Abu Dhabi entities, including a sovereign wealth fund, plan to launch a stablecoin fully regulated by the central bank of the United Arab Emirates and backed by the dirham, a move that could speed the Persian Gulf nation’s efforts to adopt digital currencies and facilitate payments.
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