Abu Dhabi’s ADQ sovereign wealth fund, First Abu Dhabi Bank (FAB), and International Holding Company (IHC) are collaborating to launch a stablecoin pegged to the UAE Dirham (AED). This initiative aims to integrate stablecoins into the country’s payment systems, operating under the regulation of the Central Bank of the United Arab Emirates (CBUAE). The yet-to-be-named stablecoin will be promoted as a digital currency solution within the UAE, fostering innovation and efficiency in financial transactions. This move signals the UAE’s commitment to embracing digital assets and exploring their potential to enhance its financial landscape. The project signifies a significant step towards modernizing the UAE’s financial infrastructure and potentially positioning it as a regional leader in the digital economy.
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Abu Dhabi’s ADQ, FAB and IHC Announce Plans for Dirham-Backed Stablecoin
Abu Dhabi’s ADQ sovereign wealth fund, First Abu Dhabi Bank (FAB), and International Holding Company (IHC) are collaborating to launch a stablecoin pegged to the UAE Dirham (AED). This initiative aims to integrate stablecoins into the country’s payment systems, operating under the regulation of the Central Bank of the United Arab Emirates (CBUAE). The yet-to-be-named stablecoin will be promoted as a digital currency solution within the UAE, fostering innovation and efficiency in financial transactions. This move signals the UAE’s commitment to embracing digital assets and exploring their potential to enhance its financial landscape. The project signifies a significant step towards modernizing the UAE’s financial infrastructure and potentially positioning it as a regional leader in the digital economy.
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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