Three major institutions in Abu Dhabi have jointly announced the proposed launch of a new dirham-pegged stablecoin. The initiative, which awaits regulatory approval, brings together sovereign wealth fund ADQ, First Abu Dhabi Bank (FAB), and the International Holding Company (IHC). Project Tied to UAE’s Regulatory and Currency Framework According to
Abu Dhabi Crypto Move Abu Dhabi’s Mubadala Investment Company took a giant leap by investing $436.9 million in the iShares Bitcoin Trust ETF. The massive purchase was done in the first quarter of 2024. Mubadala, with assets under management of over $280 billion, purchased around 8.2 million units of the
Abu Dhabi is taking significant steps towards regulating fiat-referenced tokens (FRTs), a specific type of stablecoin. The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) introduced a proposed framework on August 20. It aimed at overseeing the issuance and operation of FRTs. FRTs are digital assets
