#AbuDhabiStablecoin

Abu Dhabi is making significant strides in the digital finance sector with the introduction of a new dirham-backed stablecoin, a collaborative effort by three major institutions: ADQ (Abu Dhabi’s sovereign wealth fund), First Abu Dhabi Bank (FAB), and the International Holding Company (IHC). This initiative aims to bolster the UAE’s position as a global leader in blockchain innovation.  

🔐 Key Features of the Dirham-Backed Stablecoin

• Regulatory Oversight: The stablecoin will be regulated by the Central Bank of the UAE (CBUAE), ensuring compliance with national financial standards. 

• Technological Infrastructure: It will operate on the ADI blockchain, developed by the ADI Foundation, which specializes in integrating blockchain solutions within established financial systems. 

• Use Cases: Designed to facilitate seamless transactions, the stablecoin will support various applications, including machine-to-machine payments and AI-driven processes, enhancing both consumer and institutional financial activities. 

• Economic Impact: By providing a stable digital currency, the initiative is expected to streamline payments, reduce transaction costs, and improve access to global markets, thereby strengthening the UAE’s digital infrastructure. 

This development follows the UAE’s broader digital currency strategy, including the earlier introduction of AE Coin, the country’s first dirham-backed stablecoin. The current project underscores Abu Dhabi’s commitment to embracing blockchain technology and fostering a robust digital economy.