#AbuDhabiStablecoin

Abu Dhabi is set to launch a new stablecoin fully backed by the UAE dirham, led by three major institutions: the sovereign wealth fund ADQ, First Abu Dhabi Bank (FAB), and International Holding Company (IHC). The stablecoin will be fully regulated by the UAE Central Bank and issued by FAB, pending regulatory approval. It will operate on the ADI blockchain and aims to facilitate everyday transactions for individuals, businesses, and institutions, as well as support advanced use cases like AI and machine-to-machine payments. This initiative is part of the UAE’s broader strategy to become a global hub for digital assets and follows the country’s first dirham-backed stablecoin, AE Coin, launched in December 2024