#AbuDhabiStablecoin Abu Dhabi's financial giants, ADQ, First Abu Dhabi Bank (FAB), and International Holding Company (IHC), have partnered to launch a dirham-backed stablecoin. This digital currency aims to strengthen the UAE's digital infrastructure and position the country as a leader in global fintech innovation

- *Backed by UAE Dirham*: The stablecoin will be fully backed by the UAE dirham and regulated by the Central Bank of the UAE.

- *Operates on ADI Blockchain*: It will run on the ADI blockchain, developed by the ADI Foundation, a nonprofit organization dedicated to advancing blockchain technology.

- *Supports Advanced Transactions*: The stablecoin will support machine-to-machine and AI-driven transactions, making it suitable for emerging sectors like the Internet of Things (IoT) and autonomous finance.

- *Pending Regulatory Approval*: The launch of the stablecoin is subject to approval from the UAE's central bank.

*Goals and Implications:

- *Digital Infrastructure Development*: The stablecoin aims to enhance the UAE's digital infrastructure and provide a secure and efficient means of payment.

- *Fintech Leadership*: Abu Dhabi's move reflects the UAE's broader strategy to become a global hub for digital assets and fintech innovation.

- *Competing with US Dollar-Backed Stablecoins*: The dirham-backed stablecoin positions the UAE as a competitor to US dollar-backed stablecoins, which currently dominate the market