- Three Abu Dhabi giants are launching a fully regulated dirham-backed stablecoin under the UAE Central Bank’s oversight.
- The Dirham stablecoin will operate on ADI blockchain, supporting daily transactions, machine-to-machine use, and AI applications.
Abu Dhabi is making another breakthrough in the world of digital finance. Three major institutions, the International Holding Company (IHC), Abu Dhabi Developmental Holding Company (ADQ), and First Abu Dhabi Bank (FAB), have just announced plans to launch a Dirham-based stablecoin.
This stablecoin will be directly supervised by the Central Bank of the United Arab Emirates (CBUAE), with its official issuance awaiting the final regulatory green light.
Furthermore, this stablecoin is expected to be a stable and secure digital transaction tool, from everyday payments to large-scale transactions between businesses.
In fact, there is another interesting ambition: this stablecoin is also designed to support payments between machines and artificial intelligence applications. Just imagine if your coffee machine could one day pay for its maintenance without human intervention. That is one of the scenarios they have prepared.
Today, IHC, alongside @Adq_Official and First Abu Dhabi Bank @FABConnects, announced plans to launch a new Dirham-backed stablecoin, which will be fully regulated by the Central Bank of the UAE and issued by FAB.
The new #stablecoin will transform payments and business… pic.twitter.com/gWnVjX0LoC
— IHC (@ihc__official) April 28, 2025
Building the Bridge Between Traditional Finance and Blockchain
This stablecoin will operate on the ADI blockchain, a platform developed by the ADI Foundation in the UAE. The ADI blockchain aims to connect the traditional financial system with the next-generation blockchain world, offering a secure and legally compliant transaction path.
Not only that, the ADI Foundation has collaborated with more than 20 countries to encourage the digitalization of their finances.
On the other hand, CNF previously reported that the State of Wisconsin Investment Board (SWIB) and Mubadala Abu Dhabi have also shown strong interest in digital assets. In February, SWIB recorded ownership of more than 6 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) worth US$588 million.
Meanwhile, Mubadala invested US$436.9 million in IBIT. This further clarifies that Abu Dhabi is not just talking, but is serious about stepping into the world of digital finance.
Abu Dhabi’s Expansion in the Crypto Space
However, Abu Dhabi is not stopping there. Recently, the Stacks Asia DLT Foundation announced a strategic partnership with Abu Dhabi Global Market (ADGM), making them the first Bitcoin-based organization to officially be present in the Middle East. Their focus? Paving the way for institutional adoption of Bitcoin in the region.
In March 2025, MGX, an Abu Dhabi-based investment fund, also poured $2 billion into Binance in the form of a stablecoin. This is like a clear message that Abu Dhabi wants to dominate the global digital finance ecosystem.
Meanwhile, Rain, a Bahraini crypto exchange, has already received approval from ADGM to expand its services in the UAE, targeting large asset managers.
It is no wonder that many are optimistic about the launch of the Dirham stablecoin. As 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.”
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