#AbuDhabiStablecoin

#AbuDhabiStablecoin The Abu Dhabi Sovereign Fund ADQ, the IHC conglomerate, and the First Abu Dhabi Bank (FAB) announced plans to launch a new stablecoin fully backed by the UAE dirham.

The stablecoin will be issued by FAB and will be fully regulated by the Central Bank of the UAE, pending regulatory approval.

Purpose and Use Cases

The stablecoin aims to serve as a reliable digital currency for individuals, businesses, and institutions, facilitating transactions and daily payments both locally and globally.

It will operate on the ADI blockchain, a platform developed in the UAE designed to support secure and scalable digital payments.

Use cases include traditional payments, commerce, exchange, and emerging digital applications such as machine-to-machine transactions and AI-driven transactions.