Electronic Dirhams: UAE to Launch First National Stablecoin to Streamline Payments

The United Arab Emirates has announced the launch of a new stablecoin pegged to the national currency — the Dirham. The project is being developed with the participation of IHC, ADQ, and the country’s largest bank, First Abu Dhabi Bank (FAB). The issuance of the digital asset will be regulated by the Central Bank of the UAE (CBUAE) and will proceed upon receiving all necessary regulatory approvals.

The creation of the Dirham-backed stablecoin is aimed at significantly simplifying payment processes and business operations both domestically and internationally. This initiative seeks to strengthen the UAE’s position as a global leader in blockchain technology and financial innovation, while also advancing the development of the country's digital economy.

The new asset will enable secure and verifiable transactions in an era of global digital transformation, emphasizing transparency, data governance, and the free flow of value. The project further highlights the UAE’s commitment to establishing a cutting-edge ecosystem for fintech solutions on the world stage.

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