#AbuDhabiStablecoin Abu Dhabi sovereign wealth fund ADQ, the IHC conglomerate, and First Abu Dhabi Bank (FAB) announced plans to launch a new stablecoin fully backed by the UAE dirham.

The stablecoin will be issued by FAB and fully regulated by the UAE Central Bank, pending regulatory approval.

Purpose and Use Cases

The stablecoin aims to serve as a trusted digital currency for individuals, businesses, and institutions, facilitating everyday transactions and payments both locally and globally.

It will operate on the ADI blockchain, a UAE-developed platform designed to support secure and scalable digital payments.

Use cases include traditional payments, commerce, exchange, and emerging digital applications, such as machine-to-machine and AI-powered transactions.