Abu Dhabi doubles down on crypto as wealth fund, FAB, IHC join forces for new stablecoin
- On Monday, three leading UAE firms announced their intention to introduce a dirham-pegged stablecoin, which will be overseen by the Central Bank of the UAE and issued by the nation's largest bank upon receiving regulatory approval.
- The launch follows a drive to strengthen the UAE's digital infrastructure and facilitate secure, efficient, and scalable blockchain-based payments domestically and globally.
- The stablecoin aims to serve citizens, consumers, businesses, and institutions in everyday transactions while supporting verifiable payments and identity flow.
- Guillaume de La Tour described the stablecoin as a key achievement in advancing the UAE's efforts to build a more inclusive and digitally driven economic landscape.
- This initiative represents a significant advancement for the UAE’s crypto ecosystem and digital asset adoption, leveraging partnerships and regulatory oversight to foster innovation.
55 Articles
55 Articles
UAE to issue new stablecoin pegged to local currency
The NewsThe UAE national security adviser’s firms are leading an effort to roll out a dirham-backed stablecoin. Sheikh Tahnoon bin Zayed, brother of UAE President Sheikh Mohamed bin Zayed, has lined up the three of the largest entities he chairs — sovereign wealth fund ADQ, which focuses on infrastructure and energy investments; First Abu Dhabi Bank (FAB), the UAE’s largest lender; and conglomerate International Holding Co. — as the founding par…
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 receives Abu Dhabi in-principle approval to operate as a money services provider
Stablecoin issuer firm Circle was recently granted in-principle approval from Abu Dhabi financial authorities to serve as a money services provider in the region. According to an official press release, the Financial Services Regulatory Authority of Abu Dhabi Global Market…
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