Abu Dhabi sovereign wealth fund ADQ, conglomerate IHC (IHC.AD) and the UAE's largest bank by assets, First Abu Dhabi Bank (FAB.AD), announced plans on Monday to launch a new stablecoin backed by the dirham, the official currency of the United Arab Emirates (UAE).
The three companies said in a statement that the stablecoin will be fully regulated by the UAE Central Bank. The move marks a further deepening of investment in the cryptocurrency sector in the Gulf countries.
Abu Dhabi's sovereign wealth fund plans to partner with multiple entities to launch the dirham stablecoin
2025-04-28 16:50:21
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