#AbuDhabiStablecoin A AbuDhabiStablecoin refers to the United Arab Emirates (UAE) initiative to launch a stablecoin backed by the dirham (AED), called AE Coin, as part of its strategy to boost the digital economy and consolidate its position as a global hub for blockchain innovation.
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🏦 Key Institutions Involved
Three prominent entities in Abu Dhabi are leading the project:
ADQ: sovereign investment fund of the emirate;
First Abu Dhabi Bank (FAB): the largest bank in the UAE, responsible for issuing the stablecoin;
International Holding Company (IHC): conglomerate operating in various sectors.
The stablecoin will be fully regulated by the Central Bank of the United Arab Emirates (CBUAE), ensuring legal compliance and security for users.
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🔗 Technology and Applications
AE Coin will operate on the ADI blockchain, developed by the ADI Foundation, which already has partnerships with over 20 governments to promote a payment network compliant with regulations.
The stablecoin aims to facilitate digital payments both in retail and corporate transactions, as well as support emerging use cases such as:
Machine-to-machine payments;
Applications in artificial intelligence (AI);
Efficient and secure international transactions.
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🌍 Impact and National Strategy
The launch of AE Coin is aligned with the "Digital Dirham" initiative, launched in March 2023, and with specific regulations for stablecoins implemented in 2024.
This strategy reinforces the UAE's commitment to:
Modernize its financial infrastructure;
Promote financial inclusion;
Attract international investments in the digital assets sector.
AE Coin represents a significant step in integrating emerging technologies into the traditional financial system of the UAE, positioning the country at the forefront of global financial innovation.
