Abu Dhabi announced the launch of a new stablecoin backed by the UAE dirham, in a move aimed at enhancing the digital economy in the region. This project is the result of collaboration between three key institutions: the Abu Dhabi Sovereign Fund (ADQ), First Abu Dhabi Bank (FAB), and International Holding Company (IHC). This stablecoin will be regulated by the Central Bank of the United Arab Emirates, ensuring its stability and reliability in the volatile world of digital currencies.

This currency aims to facilitate cross-border payments, as well as support transactions based on artificial intelligence and machine-to-machine exchanges. It will operate on an advanced blockchain technology known as ADI, which has been developed locally to ensure security and transparency. This project reflects Abu Dhabi's commitment to enhancing its digital infrastructure, placing it at the forefront of global financial innovation.