#AbuDhabiStablecoin

Abu Dhabi is launching a dirham-pegged stablecoin, a digital currency backed by the UAE's national currency, pending regulatory approval. This initiative aims to position the UAE as a leader in global blockchain innovation and strengthen its digital infrastructure.

*Key Partners:*

- *ADQ*: Abu Dhabi's sovereign wealth fund, focused on critical infrastructure and global supply chains

- *First Abu Dhabi Bank (FAB)*: The largest bank in the UAE, formed through a merger in 2017

- *International Holding Company (IHC)*: A conglomerate with ties to the Abu Dhabi ruling family and a market value over $243 billion

*Stablecoin Details:*

- *Regulation*: The stablecoin will be regulated by the UAE's central bank and backed by the dirham

- *Blockchain*: It will operate on the ADI blockchain, created by the ADI Foundation to support advanced use cases like machine-to-machine communication and artificial intelligence

- *Use Cases*: Facilitating payments, conducting business, and supporting emerging digital use cases

*Timeline:*

- The stablecoin is expected to be issued by the last quarter of 2025 for the retail sector

- Circle, a USDC stablecoin issuer, has also received in-principle approval from Abu Dhabi regulators to expand its operations in the Middle East