The UAE is set to launch a Dirham-backed stablecoin through a joint initiative by IHC, ADQ, and First Abu Dhabi Bank (FAB), aimed at easing payment solutions. The new digital currency will be issued by FAB under the oversight of the Central Bank of the UAE (CBUAE).
This stablecoin is designed to simplify digital payments locally and globally, reinforcing the UAE’s position as a leading hub for financial technology and blockchain innovation. The currency aims to provide a secure and efficient means of transacting value while enhancing the country’s digital financial infrastructure.
It will serve a wide variety of users—from individuals and retailers to corporations and institutions—and support emerging technologies such as AI-driven systems and machine-to-machine payments.
The project will be powered by the ADI blockchain, a UAE-developed platform created by the ADI Foundation. This advanced blockchain enables compliant and transparent payment distribution networks, bridging conventional financial frameworks with the benefits of decentralised technology. The ADI Foundation has established partnerships with over 20 governments worldwide to support digital inclusion.
ADQ’s Group CEO, Mohamed Hassan Alsuwaidi, said the launch represents a crucial step in building the nation’s digital ecosystem. Syed Basar Shueb, CEO of IHC, described the project as a breakthrough in digital currency innovation. FAB’s CEO, Hana Al Rostamani, emphasised the bank’s leadership in pioneering secure blockchain-based payment systems.
Guillaume de La Tour, CEO of the ADI Foundation, stated the stablecoin will support scalable, transparent transactions, helping the UAE transition towards a more inclusive digital economy.
This initiative is expected to influence sectors such as trade, finance, and commerce, aligning with the UAE’s broader ambition to become a global leader in fintech innovation.
