Initiative Overview:
Collaborating Entities: Abu Dhabi Developmental Holding Company (ADQ), International Holding Company (IHC), and First Abu Dhabi Bank (FAB).
Stablecoin Peg: Backed 1:1 by the UAE Dirham to ensure price stability.
Regulatory Oversight: Issuance regulated by the Central Bank of the UAE (CBUAE), with FAB managing the release pending final approval.
Technology Backbone:
ADI Blockchain: The stablecoin will operate on the ADI blockchain, developed by the ADI Foundation in the UAE.
Blockchain Purpose: Designed for secure, transparent, and efficient payment distribution networks.
Strategic Alignment:
Digital Economy Vision: Supports the UAE’s strategy to advance its digital infrastructure and financial technology innovation.
Global Hub Ambition: Aims to position the UAE as a leading global center for blockchain and digital finance.
Impact and Significance:
Improved Payment Solutions: Enables faster, more efficient, and lower-cost digital payments.
Growth of Digital Finance: Strengthens the UAE’s commitment to expanding its digital financial ecosystem.
Boost to Innovation: Encourages blockchain adoption and supports a clear regulatory framework for stablecoins.
Financial Inclusion: Offers greater accessibility to digital financial services for underbanked or unbanked populations.
