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Abu Dhabi wealth fund, bank, IHC join hands for new stablecoin

Abu Dhabi wealth fund, bank, IHC join hands for new stablecoin

FILE PHOTO: Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Abu Dhabi sovereign wealth fund ADQ, conglomerate IHC, and the UAE’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.

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