UAE to Launch Dirham-backed Stablecoin
IHC, ADQ, and First Abu Dhabi Bank (FAB) have announced plans to launch a new stablecoin backed by Dirhams, which will be fully regulated by the Central Bank of the United Arab Emirates (CBUAE) and issued by the UAE's largest bank, FAB (subject to regulatory approval).
The new stablecoin will revolutionise the ease of making payments and doing business, both locally and globally, putting the UAE at the forefront of global blockchain innovation as a leading fintech hub, while strengthening UAE's digital infrastructure.
The stablecoin backed by Dirhams is designed to enable payment for the world where identity, governance and value flow freely, securely, and verifiably.
This stablecoin will be used as a reliable digital currency across a wide range of everyday scenarios – by citizens and consumers, businesses and institutions.
It will also support emerging digital use cases such as machine-to-machine and AI.
The new stablecoin will operate on the ADI blockchain, a cutting-edge technology developed in the UAE by the ADI Foundation, which will provide a compliant distribution network for blockchain payments.
ADI Foundation connects established financial systems with next generation blockchain technology to create real-world impact, allowing citizens of emerging countries to compete and operate on a global scale, which previously would have been impossible.
ADI Foundation already has strategic partnerships with governments in more than 20 countries.
Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ, said: 'The launch of the stablecoin marks a pivotal step in our commitment to strengthening the UAE's digital infrastructure ecosystem. As we move forward towards an increasingly digital and connected economy, the stablecoin will provide a solution that is secure, efficient and scalable, while creating new opportunities for growth and value creation.'
Syed Basar Shueb, CEO of IHC, said: 'This new stablecoin represents a major breakthrough in the development of digital currencies, and we are proud to have played a key role in its creation. By bringing IHC's expertise in blockchain and fintech, we look forward to working with our partners to explore its vast potential and drive innovation in the UAE.'
Hana Al Rostamani, Group Chief Executive Officer of FAB, said: 'As a founding partner of this leading technology, FAB is proud to be at the forefront of global innovation, driving continued growth within the UAE's dynamic fintech sector.
'This new stablecoin represents a transformative step forward and will revolutionise the way both consumers and businesses engage with trusted blockchain payments in the UAE.'
Guillaume de La Tour, CEO of ADI Foundation, said: 'This stablecoin marks a pivotal milestone in the UAE's journey toward a more inclusive and digitally empowered economy. By leveraging the ADI blockchain, we are enabling secure, transparent, and efficient transactions at scale — built on technology developed right here in the UAE.
'The ADI Foundation is proud to support this visionary initiative that aligns with our mission to advance sustainable digital transformation around the world.'
The new stablecoin is expected to have a significant impact on various industries, including finance, commerce, and trade.
Its launch marks an important step towards realising the UAE's vision of becoming a leading hub for innovation and financial technology.
Also read: After UAE, India's 'Campa Cola' Makes An Entry Into Oman With Reliance
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Trade Arabia
29-05-2025
- Trade Arabia
IHC makes strong mark at MIITE with $1.52bn deals
IHC, a global investment company focused on building dynamic value networks, made an impactful presence at the Make it in the Emirates (MIITE) Forum 2025 announcing 30+ strategic deals and 12 new products, factory expansions and facility launches worth AED5.6 billion ($1.52 billion). MITTE was hosted by the UAE Ministry of Industry and Advanced Technology in Abu Dhabi last week. Over four days, IHC gathered over 25 group companies under its pavilion, establishing itself as a hub of strategic deal-making and industrial leadership, with over 30 major announcements and active engagement across 27 panel sessions driving forward the UAE's future-focused agenda. Reinforcing its role as a catalyst for national progress, IHC and its group companies contributed to over AED5.6 billion in industry commitments (projected value over the next 5 years) through MoU signings, product launches, factory expansions, and new facilities. In parallel, IHC and its subsidiaries forged 107 new potential partnerships, particularly in engineering, procurement and construction (EPC), Industry 4.0, data centers, and energy transition technologies. IHC leveraged its presence at MIITE 2025 to unveil transformative technologies and announce strategic collaborations across its priority sectors. A headline initiative was the launch of the UAE's first marketplace for AI, built in the Emirates, featuring SAIF (Smart Artificial Intelligence Facilitator)—world's first AI agent designed to accelerate developer access to GPUs and large language models. Clean energy and sustainability were central to IHC's agenda this year. EPointZero, the decarbonization platform of 2PointZero, signed a landmark 1 GWh battery storage deal with Enercap by Apex Energy—one of the largest energy storage transactions globally this year. In a complementary move, Enercap also partnered with ROX Motor to power its next-generation electric vehicles with locally developed supercapacitor systems, advancing the UAE's EV manufacturing ecosystem and accelerating the transition to a circular, low-carbon economy. Aldar became the region's first developer to adopt hydrogen-based steel rebars from Emsteel, which will be used in building Abu Dhabi's first net-zero carbon mosque—marking a milestone in sustainable construction and material innovation. Further reinforcing its climate strategy, EPointZero and International Resources Holding (IRH), a mine-to-market platform under the IHC Group, signed an agreement to drive full decarbonization across IRH's global mining operations—advancing IHC's commitment to sustainable industrial transformation at scale. Further underscoring the UAE's industrial self-reliance and technological ambition, Orbitworks—the nation's next-generation satellite manufacturing venture—unveiled Altair, a 10-satellite, AI-enabled Earth observation constellation that will be assembled and integrated in Abu Dhabi. Syed Basar Shueb, CEO of IHC, said: "Our strong participation at MIITE reflects IHC's unwavering commitment to building the industries of tomorrow—industries rooted in innovation, sustainability, and national capability. Over these four days, we translated vision into action through strategic partnerships, groundbreaking platforms, and deep industrial alignment. Our strong performance in In-Country Value underscores IHC's role in advancing the UAE's localization agenda and creating long-term economic resilience. As we look to 2026 and beyond, IHC will continue to be a driving force in shaping the UAE's global competitiveness and delivering sustainable value for future generations.'' As a long-standing strategic partner of the UAE's national In-Country Value (ICV) programme, IHC demonstrated the scale of its commitment to economic localisation and industrial capacity building through several of its group companies. PureHealth, the nation's largest healthcare platform, confirmed it remains on track to meet its AED13 billion ICV-qualified spend target by 2032. Key Highlights and Announcements: • Launch of SAIF – UAE's First Marketplace for AI Solutions: IHC introduced SAIF, the world's first native AI agent, enabling faster access to GPUs and large language models through a UAE-built platform. • EPointZero Signs 1 GWh Battery Deal with Enercap: EPointZero signed one of the world's largest energy storage deals, advancing clean energy infrastructure in the UAE. • Aldar Adopts Hydrogen-Based Steel for Net-Zero Mosque: Aldar became the first regional developer to use hydrogen-based rebars from Emsteel, to build Abu Dhabi's first net-zero carbon mosque. • IHC and FAB Forge Strategic Banking Partnership: IHC signed two landmark agreements with First Abu Dhabi Bank, appointing FAB as its exclusive house bank and launching the FAB Business App across IHC portfolio companies to enhance financial integration, efficiency, and digital resilience. • Enercap and ROX Motor Launch EV Partnership: The two firms will co-develop UAE-based supercapacitor systems for next-gen electric vehicles. • Orbitworks Unveils UAE-Built Satellite Constellation: Orbitworks announced Altair, a 10-satellite, AI-enabled Earth observation fleet to be assembled in Abu Dhabi. • EPointZero and IRH Partner on Mining Decarbonization: The agreement will drive the full decarbonization of IRH's global mining operations. • NMDC Energy and Al Gharbia Sign MoU to Boost Local Pipe Manufacturing: NMDC Energy signed a strategic agreement with Al Gharbia to explore accelerated pipeline production in the UAE, supporting regional infrastructure demand and advancing local industrial capabilities. • DCV Industries and Legrand Partner on Next-Gen Data Centers: Emircom's DCV Industries signed a strategic MoU with Legrand to deliver integrated, high-performance infrastructure solutions for the next generation of data centers. • The IHC Group companies present at the MIITE 2025 included Modon, Arena, MIZA, NMDC Group, NMDC Energy, Aldar, Cloud Spaces, Aldar Education, PureHealth, Emircom, DCV Industries, Sirius International Holding, Esyasoft, Bayanat Engineering, aleria, Sand Dynamics, Trojan Construction Group, CyberGate, 2PointZero, EHC, Citadel, IRH, Al Seer Marine, Marlan Space and Orbit Works. - TradeArabia News Service
Trade Arabia
22-05-2025
- Trade Arabia
AGENT SAIF UNVEILED IHC launches UAE-built global marketplace for AI
IHC, a global investment company focused on building dynamic value networks, has launched a pioneering marketplace for artificial intelligence solutions, powered by the first Emirati AI Marketplace Agent 'SAIF'. more…
Trade Arabia
22-05-2025
- Trade Arabia
IHC launches UAE-built global marketplace for AI
IHC, a global investment company focused on building dynamic value networks, has launched a pioneering marketplace for artificial intelligence solutions, powered by the first Emirati AI Marketplace Agent 'SAIF'. The move is expected to reshape how AI is built, sourced, and deployed globally, said a statement. SAIF has been designed as a user-friendly interface to help UAE and global developers to access and directly purchase Graphics Processing Units (GPUs), AI modules, and custom AI stack designs. SAIF speaks over 5,000 languages, can be accessed on mobile and PC, and is accessible through voice, text or video call. He has been created to embody UAE values of trust, hospitality, speed and precision. Conceived, engineered, and developed in the United Arab Emirates, this marketplace is built in the UAE but designed for the world. It will serve as a transformative AI marketplace that empowers global developers to access, build, and deploy intelligent solutions seamlessly. As a catalyst for a new era in intelligent infrastructure, it reflects the UAE's and IHC's shared commitment to shaping a globally connected digital future, it said. Currently, many developers are unable to access cutting edge AI computing chips, or GPUs, and Large Language Models (LLMs) because of the bulk scale of purchase required from providers. Using IHC's scale, the new initiative will help developers to procure the technology they need directly through the new marketplace. Built with a vision to expand access to computational power and AI modules, the marketplace is designed to empower developers, companies, governments, and non-profit institutions to unlock the full potential of artificial intelligence. It will bridge the growing gap between demand for intelligent solutions and the complexity of sourcing and deploying them efficiently. Syed Basar Shueb, CEO of IHC, said: "The UAE continues to lead from the front in digital innovation, and this new AI marketplace is a testament to what is possible when national ambition meets cutting-edge execution. Developed here in Abu Dhabi, it will redefine the relationship between humans and intelligent systems. IHC is proud to play a role in this transformation by building new capabilities that are born in the UAE and built for the world." This initiative aligns closely with the UAE's long-term digital economy strategy and AI 2031 vision, which emphasize the critical role of advanced technology in shaping the nation's knowledge-based economy. It also reflects IHC's strategic focus on future-ready investments and its ongoing mission to accelerate digital transformation at scale. - TradeArabia News Service
