#AbuDhabiStablecoin Abu Dhabi is advancing its digital economy with the planned launch of a new dirham-backed stablecoin. 

Key Highlights

• Founding Partners: The initiative is a collaboration between three major Abu Dhabi entities:

• ADQ: The emirate’s sovereign wealth fund

• First Abu Dhabi Bank (FAB): The UAE’s largest bank

• International Holding Company (IHC): A prominent conglomerate    

• Regulatory Oversight: The stablecoin will be fully regulated by the Central Bank of the UAE (CBUAE), ensuring compliance with national financial regulations. 

• Technology Platform: The stablecoin will operate on the ADI blockchain, developed by the ADI Foundation. This blockchain aims to provide a secure and compliant infrastructure for digital transactions, with partnerships spanning over 20 countries. 

• Use Cases: Designed for a broad range of applications, the stablecoin will facilitate:

• Everyday transactions for consumers and businesses

• Institutional financial activities

• Emerging technologies such as machine-to-machine payments and AI-driven processes  

• Strategic Vision: This move aligns with the UAE’s broader strategy to become a global hub for digital finance and blockchain innovation, enhancing its position in the fintech sector.