Three major Abu Dhabi institutions, Abu Dhabi Developmental Holding Company (ADQ), International Holding Company (IHC), and First Abu Dhabi Bank (FAB), announced the launch of a new dirham-based stablecoin.
The stablecoin will be under the full supervision and regulation of the UAE Central Bank and is designed to bring stability to digital transactions that are known for their volatility.
The Abu Dhabi stablecoin project will utilize ADI blockchain technology, a digital infrastructure developed by the ADI Foundation that has established partnerships with more than 20 countries.
