#AbuDhabiStablecoin Abu Dhabi is making significant strides in the realm of digital currencies, with two notable dirham-backed stablecoin initiatives: DRAM and a forthcoming stablecoin from IHC, ADQ, and FAB. 

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🪙 DRAM: A Dirham-Pegged Stablecoin on DeFi Platforms

• Overview: Launched in October 2023 by Distributed Technologies Research (DTR), DRAM is an ERC-20 token pegged 1:1 to the UAE dirham. 

• Availability: It’s accessible on decentralized exchanges like Uniswap and PancakeSwap. 

• Regulatory Status: Issued by Hong Kong-based DRAM Trust, DRAM isn’t currently available in the UAE or Hong Kong due to regulatory constraints. 

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🏦 Upcoming Stablecoin by IHC, ADQ, and FAB

• Collaborators: International Holding Company (IHC), Abu Dhabi Developmental Holding Company (ADQ), and First Abu Dhabi Bank (FAB) are jointly developing a new dirham-backed stablecoin. 

• Regulation: The stablecoin will be regulated by the Central Bank of the UAE (CBUAE) and is pending final approval. 

• Technology: It will operate on the ADI blockchain, aiming to facilitate both consumer and institutional transactions, including advanced use cases like machine-to-machine payments and AI-driven financial services. 

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These initiatives underscore the UAE’s commitment to integrating blockchain technology into its financial infrastructure, positioning the nation at the forefront of digital currency adoption. 

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