UAE's central bank has approved a USD-backed stablecoin

The central bank of the United Arab Emirates has granted its official approval for the development and implementation of a new stablecoin that is backed by the US dollar, marking a significant step towards the digitization of the nation’s currency system and the enhancement of its financial landscape. source: https://www.coindesk.com/business/2026/01/29/uae-s-central-bank-has-approved-a-usd-backed-stablecoin