#AbuDhabiStablecoin

⚡ Launch of a Stablecoin in UAE Dirham ⚡🔥

* The International Holding Company and "ADQ" along with First Abu Dhabi Bank announced joint plans to launch a new stablecoin backed by the UAE Dirham.

* The currency will be fully supervised and regulated by the Central Bank of the United Arab Emirates, according to what was published by the "WAM" agency.

* The new currency is set to be issued by First Abu Dhabi Bank, the largest bank in the United Arab Emirates, following the necessary regulatory approvals.

* The stable digital currency, backed by the UAE Dirham, is designed to enable payment processes worldwide, ensure ease of identity use, comply with regulatory frameworks, and make secure payments with a high degree of reliability and efficiency.

* The stable digital currency will adopt a reliable payment method across a wide range of daily uses, whether by individuals or businesses and institutions, and will support new and advanced digital uses, such as direct machine-to-machine (M2M) transactions and artificial intelligence technologies.

* The new currency relies on the blockchain network of the "ADIA" Foundation, an advanced technology developed in the United Arab Emirates to provide a distribution network compliant with financial systems aimed at facilitating payments via blockchain technology.