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 revolutionize 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 over 20 countries.