🔥Abu Dhabi's Dirham-Backed Stablecoin Initiative
Abu Dhabi is launching a dirham-backed stablecoin to modernize digital payments and establish the UAE as a leader in global blockchain innovation.
💥Key Points
🔹️Partnership:
ADQ, FAB, and IHC collaborated to create the stablecoin.
🔸️Stablecoin Details:
Operates on ADI blockchain, issued by FAB, and supports machine-to-machine transactions.
🔹️Regulatory Framework:
UAE Central Bank's "Digital Dirham" strategy and regulatory frameworks in ADGM and Dubai.
💥Goals
🔹️Modernize Digital Payments:
Secure, efficient, and scalable digital currency solution.
🔸️Boost Digital Economy:
Supports emerging digital use cases.
🔹️Establish UAE as a Leader:
Positions UAE as a hub for blockchain innovation.
This initiative is expected to significantly impact the UAE's digital economy.
