#AbuDhabiStablecoin

The Abu Dhabi Global Market (ADGM) has launched a stablecoin called "Abu Dhabi Dirham" (AED), which is backed by the United Arab Emirates dirham. The stablecoin is issued by the financial technology company Phoenix Digital and is used for financial transactions in the Abu Dhabi financial market. The AED is a stable digital currency, whose value is tied to the United Arab Emirates dirham, making it an attractive option for investors and businesses looking to reduce volatility in their transactions. The stablecoin is based on blockchain technology and offers security and transparency.