Abu Dhabi institutional giants team up for dirham stablecoin

April 29, 2025

, By Cointelegraph

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A trio of major Abu Dhabi institutions, including the Emirate’s sovereign wealth fund, have teamed up to launch a new dirham-pegged stablecoin.

Abu Dhabi’s sovereign wealth fund ADQ, the United Arab Emirates’ largest bank, First Abu Dhabi Bank (FAB), and the massive conglomerate the International Holding Company, have partnered to launch the stablecoin, pending regulatory approval, the three companies said on April 28.

The trio said the stablecoin would be regulated by the UAE’s central bank and backed by the country’s currency, the dirham….

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Abu Dhabi institutional giants team up for dirham stablecoin

April 29, 2025

, By Cointelegraph

A trio of major Abu Dhabi institutions, including the Emirate’s sovereign wealth fund, have teamed up to launch a new dirham-pegged stablecoin.

Abu Dhabi’s sovereign wealth fund ADQ, the United Arab Emirates’ largest bank, First Abu Dhabi Bank (FAB), and the massive conglomerate the International Holding Company, have partnered to launch the stablecoin, pending regulatory approval, the three companies said on April 28.

The trio said the stablecoin would be regulated by the UAE’s central bank and backed by the country’s currency, the dirham….

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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