UAE launches dirham-backed stablecoin
Date: 2025-04-29 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
The United Arab Emirates has announced the release of a national dirham-backed stablecoin. According to the official statement, the project will be directly supervised by the Central Bank of the UAE and is being implemented with the participation of the country's largest bank, First Abu Dhabi Bank (FAB).
The digital token is being created on the basis of the ADI blockchain platform and is designed for both everyday use in settlements and more complex scenarios, such as artificial intelligence, the Internet of Things, and automated transactions between smart devices. The developers emphasize that the stablecoin can become the basis for new digital services that combine the reliability of government support and innovative technologies.
According to the project coordinators, the launch of a stablecoin will not only strengthen the country's financial infrastructure, but will also bring closer the ambitious goal of making the UAE a global fintech hub. A stable national currency in digital format will ensure trust from users and companies, and will also create a solid foundation for future integration into international payment networks.
The important role of the ADQ investment fund, which manages assets of over $200 billion, as well as the International Holding Company (IHC), one of the leaders in market capitalization in the country, is separately noted. These organizations are actively involved in the formation of the digital economy and are key partners in the development of new financial solutions.
It is worth adding that Google has previously changed its policy regarding cryptocurrency advertising. Now, platforms focused on the UAE market are allowed to promote crypto exchanges and wallets, subject to a license from local regulators. This indicates the growing trust of international players in the legislative framework and digital initiatives of the country.
Thus, the launch of the new stablecoin is another step in the digital transformation of the UAE economy and highlights the state’s desire to become one of the flagships in the global financial innovation race.
