TechFlow, April 29 — According to Reuters, Abu Dhabi's sovereign wealth fund ADQ, the UAE's largest listed bank First Abu Dhabi Bank (FAB), and conglomerate IHC announced plans to launch a stablecoin backed by the dirham.
The stablecoin will be fully regulated by the Central Bank of the UAE and issued by FAB upon receiving regulatory approval. The three parties stated that this stablecoin will serve as a reliable digital currency to be widely used by citizens, consumers, businesses, and institutions in daily scenarios.




