The UAE is moving forward with launching a  dirham-backed stablecoin , regulated by the UAE Central Bank , through Abu Dhabi entities IHC, ADQ, and First Abu Dhabi Bank (FAB). This digital currency is expected to significantly impact sectors like rent payments, remittances, and buy now, pay later (BNPL) services.   A major feature of the stablecoin is its integration with smart contracts , or programmable money, which can automate transactions based on pre-set conditions. This could streamline processes such as insurance payouts, utility bills, and dividend distributions . FAB had already piloted a programmable payment system using JPM Coin, signaling the UAE's growing commitment to transforming traditional finance systems.   (ICE DUBAI)

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