Abu Dhabi launches a stable digital currency backed by the dirham. A reliable payment method
The stable digital currency, backed by the UAE dirham, is designed to enable payments worldwide, ensuring ease of identity usage, compliance with regulatory frameworks, and secure payments with a high level of verifiability and efficiency.
The stable digital currency will be adopted as a reliable payment method for a wide range of daily uses, whether by individuals, companies, or institutions, and will support new and advanced digital uses, such as machine-to-machine (M2M) transactions and artificial intelligence technologies.
The new currency relies on the blockchain network of the 'ADI' Foundation, an advanced technology developed in the UAE to provide a distribution network compatible with financial systems aimed at facilitating payments via blockchain technology. It is worth mentioning that the 'ADI' Foundation is working to connect traditional financial systems with modern blockchain technologies to create a practical and effective impact, seeking to enable citizens of emerging countries to compete, participate, and contribute to the global economy. To this end, the foundation has established several strategic partnerships with governments in more than 20 countries.
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