Abu Dhabi’s Financial Giants to Launch Dirham-Pegged Stablecoin

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Three of Abu Dhabi’s financial heavyweights—sovereign wealth fund ADQ, First Abu Dhabi Bank (FAB), and the sprawling International Holding Company (IHC)—have announced plans to launch a dirham-pegged stablecoin. The initiative , revealed on April 28, is pending approval from the UAE’s central bank and could place the Emirates squarely in the global blockchain spotlight. A Sovereign Push Into Digital Currency The proposed stablecoin will be anchored to the UAE dirham and regulated under the Centr...