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ADQ, IHC, and FAB will jointly launch a dirham stablecoin regulated by the Central Bank of the UAE.
According to Reuters, the Abu Dhabi sovereign wealth fund ADQ, integrated company IHC, and the largest bank in the UAE, First Abu Dhabi Bank (FAB), announced that they will jointly launch a new stablecoin supported by the dirham, which will be fully regulated by the Central Bank of the UAE to promote the country’s layout in the encryption asset field.