#AbuDhabiStablecoin

In a strategic move to strengthen its position in the global digital economy, Abu Dhabi has announced the launch of its own stablecoin. This stable digital currency will be backed by the United Arab Emirates dirham (AED), thus providing a direct link to the national fiat currency.

The initiative is being driven by key players in Abu Dhabi's financial landscape, including the sovereign fund ADQ, the First Abu Dhabi Bank (FAB), a major banking institution in the region, and the International Holding Company (IHC), an important diversified investment group. A crucial aspect of this project is the explicit backing of the UAE central bank, which ensures the integrity and regulatory oversight of the stablecoin. The fundamental purpose of this digital currency is to streamline and facilitate payment transactions at an international level, while also seeking to promote the growth of trade in the Middle East and North Africa (MENA) region.