#AbuDhabiStablecoin

Abu Dhabi launches a stablecoin backed by the UAE Dirham

Abu Dhabi has announced the launch of a stablecoin backed by the UAE Dirham, as part of its efforts to enhance innovation in the blockchain sector. Here are the details:

Details of the stablecoin

- *Partnership*: The partnership between three key institutions in Abu Dhabi has been announced, which are ADQ (Abu Dhabi Sovereign Wealth Fund), First Abu Dhabi Bank (FAB), and International Holding Company (IHC), to launch the stablecoin.

- *Regulation*: The stablecoin will be subject to regulation by the Central Bank of the UAE and will be backed by the UAE Dirham, ensuring its stability and security.

- *Technology*: It will operate