#AbuDhabiStablecoin Abu Dhabi's stablecoin project is a significant step in the UAE's digital asset strategy, aiming to boost the country's digital infrastructure and fintech leadership. Here's what you need to know:

. Partnership: The project involves three major Abu Dhabi institutions:

. ADQ: Abu Dhabi's sovereign wealth fund, focused on critical infrastructure and global supply chains

. International Holding Company (IHC): A conglomerate with a market value of over $243 billion, tied to the Abu Dhabi ruling family

. First Abu Dhabi Bank (FAB): The UAE's largest bank, formed through a merger in 2017

. Dirham-Backed Stablecoin: The stablecoin will be pegged 1:1 to the UAE dirham, providing a secure and transparent means of payment. It will operate on the ADI blockchain, developed by the ADI Foundation.

. Regulatory Oversight: The stablecoin will be regulated by the UAE's central bank, ensuring compliance with local regulations and robust security measures.

. Use Cases: The stablecoin will support various transactions, including:

. Machine-to-machine payments: Enabling IoT ecosystems and AI-driven transactional models

. Traditional transactions: Facilitating everyday payments for citizens, businesses, and institutions

. Goals: The project aims to:

. Enhance digital infrastructure: Strengthening the UAE's digital economy and fintech sector

. Promote economic diversification: Supporting the UAE's vision for economic growth and financial inclusion

. Position Abu Dhabi as a fintech hub: Showcasing the UAE's commitment to innovation and regulatory modernization.