#AbuDhabiStablecoin Abu Dhabi's sovereign wealth fund ADQ, conglomerate International Holding Company (IHC), and First Abu Dhabi Bank (FAB) have partnered to launch a dirham-backed stablecoin. This new stablecoin aims to drive blockchain innovation, strengthen the UAE's digital economy, and position the country as a leading fintech hub.

*Key Features:*

- *Backing and Regulation*: The stablecoin will be fully regulated by the UAE's Central Bank and backed by the dirham, ensuring a stable and secure digital currency.

- *Blockchain Operation*: It will operate on the ADI blockchain, a cutting-edge technology developed in the UAE, providing a compliant distribution network for blockchain payments.

- *Use Cases*: The stablecoin will support various use cases, including machine-to-machine transactions, artificial intelligence-driven processes, and everyday payments for consumers, businesses, and institutions.

*Goals and Impact:*

- *Digital Infrastructure*: The stablecoin is expected to strengthen the UAE's digital infrastructure, providing a secure, efficient, and scalable solution for transactions.

- *Economic Growth*: By driving innovation and adoption of blockchain technology, the stablecoin is expected to have a significant impact on finance, commerce, and trade in the UAE ¹ ².

*Partnership Quotes:*

- H.E. Mohamed Hassan Alsuwaidi, Managing Director and Group CEO, ADQ: "The launch of the stablecoin marks a pivotal step in our commitment to strengthening the UAE's digital infrastructure ecosystem."

- *Syed Basar Shueb, CEO, IHC*: "By bringing IHC's expertise in blockchain and fintech, we look forward to working with our partners to explore its vast potential and drive innovation in the UAE."

- *Hana Al Rostamani, Group Chief Executive Officer, FAB*: "This new stablecoin represents a transformative step forward and will revolutionize the way both consumers and businesses engage with trusted blockchain payments in the UAE" ¹.