#AbuDhabiStablecoin

Abu Dhabi launched a stablecoin backed by the UAE Dirham under the name #AbuDhabiStablecoin, which is a joint initiative between the sovereign wealth fund ADQ, the international investment company IHC, and First Abu Dhabi Bank FAB. This currency is subject to full regulation by the Central Bank of the UAE.

The stablecoin operates on the ADI blockchain and aims to facilitate digital payments and enhance the digital asset environment in the UAE, as well as supporting the national strategy to accelerate the growth of the digital economy in the region.

The currency is backed 1:1 by the UAE Dirham, ensuring its value stability, and is part of the UAE's efforts to become a global hub for innovation in the field of digital currencies and financial technology, with full adherence to local financial regulations.

In summary, #AbuDhabiStablecoin represents a strategic step to enhance digital payments, facilitate cross-border transactions, and support the growth of the digital economy in the UAE.