#AbuDhabiStablecoin Abu Dhabi is making significant strides in the digital currency space with the introduction of a new dirham-backed stablecoin, aiming to bolster its position as a global hub for blockchain innovation.

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🇦🇪 New Dirham-Backed Stablecoin Initiative

A consortium comprising First Abu Dhabi Bank (FAB), International Holding Company (IHC), and sovereign wealth fund ADQ has announced plans to launch a stablecoin pegged to the UAE dirham. This digital currency will be fully regulated by the Central Bank of the UAE (CBUAE) and is set to operate on the ADI blockchain, developed by the ADI Foundation to facilitate compliant blockchain payments.

The stablecoin aims to serve a broad spectrum of users, from individual consumers to businesses and institutions, enhancing payment systems and supporting emerging technologies like machine-to-machine transactions and AI-driven applications.

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🪙 Other Dirham-Backed Stablecoins

In addition