Arthur D. Little Analyst Reveals Why the UAE Is Winning the Stablecoin Race
The UAE is becoming a leader in the stablecoin market because it has clear regulations, institutional support, and a plan to use both dollar- and dirham-backed stablecoins, according to Arthur D. Little.
Mohammad Nikkar of Arthur D. Little told Coin Edition that the UAE is taking a different approach from many other countries. Instead of making dollar stablecoins and local-currency stablecoins compete, the UAE sees them as serving different purposes.
Three things give the UAE an advantage:
- It introduced stablecoin regulations early.
- It created a system where dollar and dirham stablecoins can work side by side.
- Large financial institutions supported stablecoins from the beginning.
The UAE introduced its Central Bank framework for fiat-backed tokens in June 2024, which gave companies clear rules before the market became more developed.
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