IHC, ADQ, and First Abu Dhabi Bank (FAB) have jointly revealed plans to introduce a new stablecoin backed by the UAE Dirham. The initiative, which remains subject to regulatory approval, will see the stablecoin issued by FAB and fully regulated under the Central Bank of the United Arab Emirates (CBUAE). This development aims to transform the landscape of digital payments and business transactions both within the country and on a global scale.
The forthcoming Dirham-backed digital currency is expected to strengthen the UAE’s position as a global leader in blockchain innovation and enhance its growing reputation as a fintech hub. Authorities and stakeholders believe that the stablecoin will significantly contribute to modernizing the nation’s digital financial infrastructure.
Designed with security and verification at its core, the stablecoin will enable efficient and secure digital transactions. It is set to support a wide range of everyday payment scenarios for citizens, consumers, businesses, and institutions. In addition to conventional transactions, the digital asset will also enable emerging applications, including machine-to-machine communication and integration with artificial intelligence systems.
Powered by Homegrown Blockchain Innovation
The stablecoin will operate on the ADI blockchain, a technological platform developed domestically by the ADI Foundation. This blockchain network will ensure a compliant and scalable infrastructure for blockchain-based payments. The ADI Foundation has focused its efforts on bridging the gap between established financial systems and next-generation blockchain solutions, particularly with a vision to empower populations in emerging markets to engage competitively at the global level.
With strategic collaborations already established with governments in more than 20 countries, the ADI Foundation brings substantial global experience to this ambitious project. The organization’s blockchain platform is designed not only to comply with regulatory requirements but also to deliver high-speed, transparent, and secure transaction capabilities.
Executive Endorsements and Industry Impact
Executives involved in the project have expressed strong confidence in the potential impact of the stablecoin. Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ, highlighted that the introduction of the stablecoin represents a pivotal move towards bolstering the UAE’s digital infrastructure. He noted that the initiative aligns with the broader goal of building a more connected economy by offering secure, efficient, and scalable digital solutions that also open new avenues for economic growth.
Syed Basar Shueb, CEO of IHC, emphasized the groundbreaking nature of the stablecoin in the evolution of digital currencies. He stated that IHC’s experience in blockchain and fintech would play a critical role in unlocking the full potential of this new asset and driving innovation across the UAE’s financial ecosystem.
Hana Al Rostamani, Group CEO of FAB, underscored FAB’s pride in participating as a founding partner. She pointed out that the stablecoin would fundamentally transform how businesses and consumers engage with blockchain payments, further reinforcing the UAE’s leadership in digital finance.
Guillaume de La Tour, CEO of the ADI Foundation, expressed that the stablecoin represents a significant milestone in the UAE’s journey toward a more inclusive and digitally empowered economy. He stressed that leveraging homegrown blockchain technology ensures secure, transparent, and efficient transactions.
Positioning UAE as a Global Fintech Leader
The launch of the Dirham-backed stablecoin is expected to have wide-reaching implications across industries such as finance, commerce, and international trade. It is regarded as a crucial step toward realizing the UAE’s broader vision of becoming a central hub for global financial innovation and blockchain-driven economic transformation.