#AbuDhabiStablecoin Abu Dhabi is launching a dirham-pegged stablecoin, a digital currency backed by the United Arab Emirates' official currency. This initiative aims to modernize digital payments and position the UAE as a leader in global blockchain innovation.
*Key Partners:*
- *ADQ*: Abu Dhabi's sovereign wealth fund, focused on critical infrastructure and global supply chains
- *First Abu Dhabi Bank (FAB)*: The UAE's largest bank, formed through a merger in 2017
- *International Holding Company (IHC)*: A conglomerate with ties to the Abu Dhabi ruling family and a market value over $243 billion
*Stablecoin Features:*
- *Dirham-pegged*: Backed by the UAE dirham, ensuring stability and trust
- *Regulated*: Overseen by the UAE's central bank, ensuring compliance and security
- *Advanced use cases*: Supports machine-to-machine communication, artificial intelligence, and everyday transactions
- *ADI Blockchain*: Operates on a blockchain created by the ADI Foundation, a non-profit organization promoting blockchain adoption
*Impact:*
- *Digital infrastructure*: Strengthens the UAE's digital infrastructure, providing new financial opportunities
- *Global blockchain hub*: Positions the UAE as a leader in global blockchain innovation, joining other nations exploring national digital currencies....