Abu Dhabi Firms Plan Dirham-Backed Stablecoin Pending Central Bank Approval

Quick Summary:

Three major institutions in Abu Dhabi have jointly announced the proposed launch of a new dirham-pegged stablecoin.

The initiative, which awaits regulatory approval, brings together sovereign wealth fund ADQ, First Abu Dhabi Bank (FAB), and the International Holding Company (IHC).

The ADI blockchain will serve as the infrastructure layer for its operation, allowing regulated blockchain payments.

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Article Details

Author / Journalist: Zayan

Category: Crypto

Markets: United Arab Emirates

Topics: Market News Abu Dhabi Stablecoin Central Bank Market Updates

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-29 @ 10:36:04 (20 hours ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 380 words

Reading Time: 3 minutes read

Sentences: 33 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 28286710

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 25 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 15 hours ago

Coverage Areas: United Arab Emirates

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Publisher ID: #125

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