#AbuDhabiStablecoin

Abu Dhabi’s sovereign wealth fund ADQ, First Abu Dhabi Bank (FAB), and conglomerate IHC have announced plans to launch a new stablecoin fully backed by the UAE dirham. This digital currency will be issued by FAB and regulated by the Central Bank of the United Arab Emirates, pending regulatory approvals. Designed for everyday use by individuals, businesses, and institutions, the stablecoin aims to enhance payment efficiency and support emerging technologies like machine-to-machine and AI transactions. It will operate on the UAE-developed ADI blockchain, marking a significant step in the nation’s digital economy and blockchain innovation ambitions.