Abu Dhabi launched a stablecoin backed by the Emirati dirham under the name #AbuDhabiStablecoin. This is a joint initiative between the ADQ sovereign wealth fund, the IHC international investment company, and First Abu Dhabi Bank (FAB). This currency is fully regulated 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. It also supports the national strategy to accelerate the growth of the digital economy in the region$BTC