Abu Dhabi Sovereign Wealth Fund plans to launch dirham stablecoin in cooperation with multiple entities
Online reports, Reuters reported that Abu Dhabi sovereign wealth fund ADQ, corporate group IHC (IHC.AD) and First Abu Dhabi Bank (FAB.AD), the largest bank with assets in the United Arab Emirates, announced on Monday that they plan to launch a new stablecoin backed by dirham, the official currency of the United Arab Emirates. The three companies said in a statement that the stablecoin will be fully supervised by the Central Bank of the United Arab Emirates. This move marks a further deepening of Gulf countries 'investment in the cryptocurrency field.
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