#AbuDhabiStablecoin Three significant institutions in Abu Dhabi – First Abu Dhabi Bank (FAB), ADQ (sovereign investment fund), and International Holding Company (IHC) – announced plans to create a stablecoin that will be backed by the dirham. This stablecoin will be regulated by the Central Bank of the United Arab Emirates and will utilize blockchain technology developed in the UAE.

The aim is to facilitate digital payments and trade transactions both in the UAE and internationally. This stablecoin also supports new digital applications, such as device-to-device transactions or the use of artificial intelligence.

This is part of the UAE's ambitions to become a global hub for digital assets and fintech innovation. It seems that Abu Dhabi is truly making significant strides towards the future of the digital economy!