#AbuDhabiStablecoin

Abu Dhabi is set to become a significant player in the digital currency landscape with the announcement of a new stablecoin backed by the UAE Dirham.

This initiative is spearheaded by three prominent entities:

Abu Dhabi Developmental Holding Company (ADQ), International Holding Company (IHC), and First Abu Dhabi Bank (FAB).

This Dirham-backed stablecoin aims to revolutionize payments and business transactions both locally and globally.

Fully regulated by the Central Bank of the UAE (CBUAE) and issued by FAB, the UAE's largest bank, it promises a secure, efficient, and scalable solution for a wide range of users, including individuals, businesses, and institutions.

The stablecoin will operate on the ADI blockchain, a technology developed in the UAE by the ADI Foundation.

This foundation focuses on connecting traditional financial systems with advanced blockchain technology.

The new digital currency is also expected to support emerging digital applications like machine-to-machine payments and artificial intelligence.

This move underscores the UAE's ambition to become a leading global hub for fintech innovation and strengthens its digital infrastructure.