#AbuDhabiStablecoin

Stablecoin Details

- *Partnership*: The partnership has been announced between three key institutions in Abu Dhabi, namely ADQ (the 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 UAE Central Bank and will be backed by the Emirati Dirham, ensuring its stability and security.

- *Technology*: The stablecoin will operate on the ADI blockchain, developed by the ADI Foundation, a nonprofit organization dedicated to promoting the adoption of blockchain technology.

- *Uses of the currency*: The stablecoin aims to support various applications, including automated transactions between devices, artificial intelligence, and daily digital payments.

Benefits and Impact

- *Enhancing digital infrastructure*: This launch enhances the digital infrastructure in Abu Dhabi and positions the UAE at the forefront of global innovation in the blockchain sector.

- *Financial inclusion*: The stablecoin can increase financial inclusion and accessibility, especially in high-traffic remittance channels.