#AbuDhabiStablecoin

Abu Dhabi is set to launch a new dirham-backed stablecoin, marking a significant advancement in the UAE's digital currency initiatives. This initiative is a collaboration between three major institutions: International Holding Company (IHC), sovereign wealth fund ADQ, and First Abu Dhabi Bank (FAB), the UAE's largest bank. The stablecoin will be fully regulated by the Central Bank of the UAE and will operate on the ADI blockchain, developed by the ADI Foundation.

Designed to facilitate secure and efficient digital transactions, the stablecoin aims to support a wide range of applications, including everyday payments, business transactions, and emerging technologies like machine-to-machine interactions and AI-driven processes. This move positions the UAE at the forefront of blockchain innovation, enhancing its digital infrastructure and promoting the adoption of regulated digital currencies.

The introduction of this stablecoin follows the UAE's earlier launch of AE Coin, the nation's first dirham-backed digital currency, in December. These developments underscore the UAE's commitment to integrating blockchain technology into its financial systems and establishing itself as a global leader in the digital economy.