📢ABU DHABI AND ITS STABLECOIN
◾Abu Dhabi is working on its own stablecoin backed by the United Arab Emirates dirham (AED).
✅This initiative is led by prominent financial institutions in Abu Dhabi, such as:
- *ADQ*: Abu Dhabi Sovereign Wealth Fund
- *First Abu Dhabi Bank (FAB)*: The largest bank in the United Arab Emirates
- *International Holding Company (IHC)*: Investment conglomerate
✅The stablecoin will be:
- *Backed by the dirham*: Ensures its stability and value
- *Regulated by the Central Bank of the UAE*: Ensures compliance with financial rules and regulations
- *Developed on the ADI blockchain*: Provides security, transparency, and efficiency in transactions
✅*Objectives of the stablecoin:*
- *Facilitate payments and business*: Locally and globally
- *Support emerging digital transactions*: Such as machine-to-machine and AI
- *Strengthen the digital infrastructure of the UAE*: And position the country as a leader in fintech innovation
◾Although there is no official launch date yet, the stablecoin is expected to be available for the retail sector in the last quarter of 2025.