#AbuDhabiStablecoin Abu Dhabi is taking a significant step into the world of digital currencies with plans to launch a dirham-pegged stablecoin. Here's what's happening¹ :

Partnership: Three major Abu Dhabi institutions, ADQ (sovereign wealth fund), First Abu Dhabi Bank (FAB), and International Holding Company (IHC), are teaming up to launch the stablecoin, pending regulatory approval.

Regulation: The stablecoin will be regulated by the UAE's central bank and backed by the dirham, ensuring stability and trust.

Blockchain: It will operate on the ADI blockchain, created by the ADI Foundation, a non-profit organization focused on blockchain adoption.

Use Cases: The stablecoin aims to support advanced use cases like machine-to-machine communication and artificial intelligence, positioning the UAE as a leader in global blockchain innovation.