#AbuDhabiStablecoin
Abu Dhabi's stablecoin project is a dirham-backed digital token developed by three major institutions: ADQ (sovereign wealth fund), First Abu Dhabi Bank (FAB), and International Holding Company (IHC). This stablecoin aims to.
- *Boost Digital Infrastructure*: Strengthen the UAE's digital economy and position the country as a global fintech leader.
- *Trusted Means of Payment*: Offer citizens, businesses, and institutions a reliable digital currency for everyday transactions.
- *Advanced Applications*: Support machine-to-machine and AI-driven transactions, enabling use cases like autonomous finance and the Internet of Things.
The stablecoin will operate on the ADI blockchain, developed by the ADI Foundation, and will be regulated by the UAE's central bank. Once approved, FAB will issue the stablecoin. This initiative reflects the UAE's broader strategy to cement itself as a global hub for digital assets ².
*Key Features:*
- *Backed by Dirham*: The stablecoin will be fully backed by the Emirati dirham.
- *Regulatory Oversight*: Subject to oversight by the UAE's central bank.
- *Blockchain Technology*: Utilizes the ADI blockchain for secure, transparent, and efficient transactions.
- *Diverse Use Cases*: Designed for conventional payments, machine-to-machine transactions, and AI integration