Abu Dhabi sovereign wealth fund teams up with FAB, IHC to launch new stablecoin

Abu Dhabi sovereign wealth fund ADQ, conglomerate IHC , and the United Arab Emirates's biggest lender by assets First Abu Dhabi Bank (FAB) are planning to launch a new stablecoin backed by dirhams, they said on Monday, as the Gulf country deepens its investment in cryptocurrencies. The stablecoin will be fully regulated by the UAE's central bank, the three companies said in a statement