Is Abu Dhabi launching its own stablecoin!? 🇦🇪💸

Three financial giants from Abu Dhabi —the sovereign fund (ADQ), the largest bank in the country (FAB), and the conglomerate (IHC)— announced the launch of a new stablecoin backed by the dirham (AED).

The currency will be fully regulated by the Central Bank of the UAE and will be issued on the ADI blockchain.

The goal: to facilitate secure and efficient digital payments for both citizens and businesses.

Additionally, this stablecoin is expected to drive emerging use cases such as machine-to-machine transactions and artificial intelligence applications. ​

Will this be the beginning of a new era for state-backed digital currencies? 🌍🔗

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