#AbuDhabiStablecoin

The Abu Dhabi sovereign fund ADQ, the IHC conglomerate, and First Abu Dhabi Bank (FAB) have announced plans to launch a new stablecoin fully backed by the United Arab Emirates dirham.

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

Purpose and Use Case

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

It will operate on the ADI blockchain, a platform developed in the United Arab Emirates 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 those powered by AI.