#AbuDhabiStablecoin

- A coalition between three major Emirati institutions: "The Holding" (ADQ), International Holding Company (IHC), and (First Abu Dhabi Bank) (the largest bank in the UAE).

2. Objective:

- To enhance the digital infrastructure of the UAE and facilitate local and global payments via blockchain technology.

3. Features:

- Backed by the UAE Dirham and regulated by the Central Bank of the UAE.

- Designed to support daily uses for individuals and businesses, as well as advanced transactions such as machine-to-machine (M2M) communication and artificial intelligence.

- Based on a locally developed blockchain network by the Emirati institution "ADI".

4. Expected Impact:

- Increased liquidity in the UAE financial system.

- Establishing the UAE's position as a leading global center for financial innovation and technology.

5. Timeline:

- The currency will be issued after completing regulatory approvals from the Central Bank.

#Why is it considered significant?

- It is the first Arab stablecoin backed by a national currency, which enhances trust in digital assets and reduces reliance on the dollar in transactions.

- It supports the UAE's vision of building an inclusive digital economy, especially as it aims to attract global fintech companies like "Binance".