Abu Dhabi has launched a dirham-backed stablecoin, a digital currency pegged to the UAE's national currency, to promote digital asset innovation and financial technology. This initiative is a collaboration between ADQ, International Holding Company, and First Abu Dhabi Bank, regulated by the UAE Central Bank. The stablecoin will support emerging digital use cases like machine-to-machine transactions and artificial intelligence, enhancing cross-border trade, remittances, and transactions. It will operate on the ADI blockchain and be issued by FAB. The phased rollout aims to ensure stability and gain public trust, solidifying Abu Dhabi's position as a digital asset hub ¹ ².
