The sovereign stablecoin recently launched in Abu Dhabi marks a new phase of deep engagement by sovereign powers in the global cryptocurrency market. As the core hub of fintech innovation in the Middle East, Abu Dhabi, backed by its strong oil capital and financial openness policies, will elevate stablecoins from 'private tools' to 'national strategic infrastructure', having a profound impact on the virtual currency market and the international financial system.

**Impact on the Crypto Market: Reshaping Trust and Liquidity**

The Abu Dhabi stablecoin, backed by sovereign credit, could disrupt the existing stablecoin landscape dominated by private entities such as Tether (USDT) and Circle (USDC). Its design, pegged to the US dollar or a basket of currencies, combined with the reserve support of Abu Dhabi's sovereign wealth fund, will attract traditional financial institutions to accelerate their entry, enhancing the liquidity and stability of the cryptocurrency market. At the same time, Middle Eastern capital entering fields like DeFi and cross-border payments through stablecoins may trigger a new wave of regulatory innovation.

**Impact on the International Market: Challenging Dollar Hegemony and New Order Games**

In the long run, the Abu Dhabi stablecoin may become a 'digital extension' of the petrodollar system. If it integrates with energy trade settlements, it will strengthen the Middle East's voice in the race for the sovereignty of digital currencies, and may even promote a new model linking oil with cryptocurrencies. Moreover, the compliance framework for sovereign stablecoins may be emulated by more countries, accelerating the global competition for central bank digital currencies (CBDCs) and reshaping the cross-border payment and reserve currency systems.