#AbuDhabiStablecoin The initiative aims to position the UAE as a leader in global blockchain innovation. It also seeks to strengthen the country's digital infrastructure and provide new financial opportunities.

Tether, whose USDT is the largest stablecoin in the world, also received approval last August to develop a stablecoin in the United Arab Emirates.

The new stablecoin launched by IHC, ADQ, and FAB is expected to have a significant impact on various industries, including finance, trade, and commerce, the companies said.

The ADI blockchain, on which it will operate, has been developed in the UAE by the ADI Foundation, which will provide a regulatory-compliant distribution network for blockchain payments. The ADI Foundation maintains strategic partnerships with governments from over 20 countries.