#AbuDhabiStablecoin

Abu Dhabi has launched a stablecoin backed by the UAE dirham under the name #AbuDhabiStablecoin. This is a joint initiative between the sovereign wealth fund ADQ, the International Holding Company IHC, 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.

The currency is backed at a 1:1 rate with the UAE dirham, ensuring its value stability. It is part of the UAE's efforts to become a global hub for innovation in digital currencies and financial technology, with a full commitment to local financial regulations.

In summary, #AbuDhabiStablecoin represents a strategic step to enhance digital payments, facilitate cross-border transactions, and support the growth of the digital economy in the UAE.