#AbuDhabiStablecoin
Abu Dhabi is launching a dirham-pegged stablecoin, pending regulatory approval from the UAE's central bank. This digital currency will be backed by the dirham and operate on the ADI blockchain, supporting advanced use cases like machine-to-machine communication and artificial intelligence.
*Key Details:*
- *Partners:* Abu Dhabi's sovereign wealth fund ADQ, First Abu Dhabi Bank (FAB), and the International Holding Company (IHC) are teaming up for this project.
- *Regulation:* The stablecoin will be regulated by the UAE's central bank, ensuring a secure and compliant digital currency.
- *Blockchain:* The ADI blockchain, developed by the ADI Foundation, will facilitate payments and transactions.
- *Use Cases:* The stablecoin aims to facilitate payments, conduct business, and support emerging digital use cases, benefiting citizens, consumers, businesses, and institutions.
- *Launch Timeline:* The Central Bank of the UAE (CBUAE) plans to issue the stablecoin by the last quarter of 2025 for the retail sector ¹ ² ³.
*Goals and Implications:*
- Position the UAE as a leader in global blockchain innovation
- Strengthen the country's digital infrastructure
- Provide new financial opportunities
- Challenge US dollar-dominated stablecoins
The launch of this stablecoin reflects the growing interest in national digital currencies and the UAE's efforts to advance its financial technology landscape ¹.