FAB Launches UAE-Backed Stablecoin to Drive Global Blockchain Innovation
First Abu Dhabi Bank (FAB), in partnership with ADQ and International Holding Company (IHC), has unveiled plans to launch a new UAE Dirham-backed stablecoin, marking a major step forward in the country's digital finance ambitions.
The stablecoin, set to be fully regulated by the Central Bank of the UAE and issued by FAB pending final approval, aims to transform how payments are made and business is conducted both locally and globally. Designed for everyday use by consumers, businesses, and institutions, it will also power emerging digital use cases such as machine-to-machine and AI-driven transactions.
The new digital currency will operate on the ADI blockchain, developed in the UAE by the ADI Foundation. This cutting-edge platform is built to connect traditional financial systems with next-generation blockchain technology, enabling secure, scalable, and transparent transactions. The ADI Foundation already has strategic partnerships with governments across more than 20 countries.
Leaders from all three organizations praised the initiative as a critical step in cementing the UAE's status as a global fintech hub. ADQ CEO Mohamed Hassan Alsuwaidi called the stablecoin 'a secure, efficient, and scalable solution,' while IHC's Syed Basar Shueb highlighted it as a 'major breakthrough' in digital currency development. FAB CEO Hana Al Rostamani said the bank is proud to lead blockchain innovation in the region.
Guillaume de La Tour, CEO of the ADI Foundation, emphasized that the launch represents 'a pivotal milestone in the UAE's journey toward a digitally empowered economy.'
The stablecoin is expected to play a transformative role across industries, reinforcing the UAE's commitment to becoming a global leader in innovation and financial technology.
News Source: Emirates News Agency
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