International Holding Company, ADQ, and First Abu Dhabi Bank have jointly announced plans to launch a new stablecoin backed by the UAE dirham and fully regulated by the Central Bank of the UAE.
The new currency is set to be issued by First Abu Dhabi Bank, the largest bank in the UAE, following the necessary regulatory approvals.
What is the Impact of the New Stablecoin in the UAE ?
The new stablecoin will be a turning point, facilitating payments and business operations both locally and globally.
It aims to strengthen the UAE’s leadership in blockchain innovation.
Besides positioning it as a global hub for fintech and enhancing the country’s digital infrastructure.
Designed to enable worldwide payments, the stablecoin will ensure user-friendly identity usage and regulatory compliance.
As well as secure and verifiable payments with high reliability and efficiency.
The stablecoin will serve as a trusted payment method across a wide range of daily applications by individuals, companies, and institutions.
It will also support advanced digital uses such as machine-to-machine (M2M) transactions and AI technologies.
The currency will operate on the private blockchain network developed by the UAE-based company ADI Foundation.
Strategic Partnerships
ADI Foundation is working to bridge traditional financial systems with modern blockchain technologies.
Aiming to create practical and effective impact.
Especially empowering citizens of emerging nations to participate and contribute to the global economy.
To this end, the company has formed strategic partnerships with governments in over 20 countries.
Commenting on the initiative, H.E Mohammed Hassan Alsuwaidi, Managing Director and CEO of ADQ, said:
“Launching this stablecoin marks a pivotal step in our commitment to enhancing the UAE’s digital infrastructure.
As we move toward an increasingly interconnected digital economy, this coin will offer a secure, efficient, and scalable solution.
While opening new avenues for growth and value creation.”
Driving Innovation
Sayed Basar Shuaib, CEO of International Holding Company, added:
“The new stablecoin represents a major shift in the development of digital currencies in the UAE.
At IHC, we are proud of our key role in creating it.
We look forward to leveraging our expertise in blockchain and fintech in collaboration with our partners to explore the promising opportunities this new currency offers.
It will help drive innovation in the UAE.”
A New Stablecoin that Opens New Possibilities for the UAE
Speaking on the role of First Abu Dhabi Bank in launching the new stablecoin, Hana Al Rostamani, Group CEO of First Abu Dhabi Bank, said:
“FAB is proud to participate as a founding member in launching this groundbreaking technology.
As it enhances the UAE’s global innovation standing and opens new possibilities for the development of the thriving fintech sector.”
The stablecoin is expected to transform blockchain-based payment transactions.
Positively impacting various economic sectors.
It will also improve the efficiency and reliability of financial transactions for both consumers and businesses within the country.”
Boosts Liquidity
Guillaume de La Tour, CEO of ADI Foundation, stated:
“Launching this new stablecoin is a key milestone in the UAE’s journey toward a more inclusive, tech-driven economy.
By leveraging our proprietary blockchain technology developed in the UAE, we will enable secure, transparent, and efficient large-scale transactions.
We take pride in supporting this ambitious initiative, which aligns with our mission to drive sustainable digital transformation globally.”
The new stablecoin is expected to have a broad impact across multiple sectors in the UAE—including finance and trade.
And it is likely to boost liquidity within the UAE’s financial system.
Its launch is a significant step toward realizing the country’s vision of becoming a global leader in innovation and financial technology.
