#AbuDhabiStablecoin #AbuDhabiStablecoin

Abu Dhabi has launched a stablecoin backed by the UAE dirham under the name #AbuDhabiStablecoin, which is a joint initiative between the ADQ sovereign wealth fund, the International Holding Company (IHC), and First Abu Dhabi Bank (FAB). This currency is fully regulated by the Central Bank of the UAE.

The stablecoin operates on the ADI blockchain and aims to facilitate digital payments and enhance the digital asset environment in the UAE, as well as support the national strategy to accelerate the growth of the digital economy in the region.