#AbuDhabiStablecoin Abu Dhabi's financial institutions are making significant strides in the digital asset space with the launch of a new Dirham-backed stablecoin. This initiative is a collaborative effort between Sovereign wealth fund ADQ, conglomerate International Holding Company (IHC), and First Abu Dhabi Bank (FAB).

*Key Features of the Stablecoin:*

- *Backed by Dirham*: The stablecoin will be pegged to the UAE's local currency, providing a stable digital asset for transactions.

- *Regulatory Oversight*: The stablecoin will be subject to oversight by the UAE's central bank, ensuring compliance with regulatory frameworks.

- *Blockchain Technology*: The stablecoin will operate on the ADI blockchain, developed domestically by the ADI Foundation, enabling secure, transparent, and efficient transactions.

- *Wide Range of Applications*: The stablecoin will support various transactions, including everyday payments, machine-to-machine transactions, and artificial intelligence-driven processes