Abu Dhabi Launches a Stablecoin Backed by the Dirham (AED-backed stablecoin) in collaboration with major entities including the sovereign wealth fund ADQ, the holding company IHC, and First Abu Dhabi Bank (FAB).

New Stablecoin: A digital currency will be launched that will maintain a fixed value linked to the UAE Dirham.

Led by Major Institutions: The project is a partnership between ADQ, IHC, and FAB.

Central Regulation: The new digital currency will be fully regulated by the Central Bank of the United Arab Emirates.

Objective: To facilitate payments for transactions between consumers, businesses, and institutions both locally and internationally.

Enhancing the Digital Economy: This step is part of the UAE's strategy to enhance its digital economy and solidify its position as a hub for financial technology and innovation.

Working on ADI Blockchain: The stablecoin will operate on the ADI blockchain developed in the UAE.