#AbuDhabiStablecoin

Abu Dhabi's financial institutions have launched a new stablecoin project, aiming to boost the UAE's digital infrastructure and global fintech leadership. Here's what you need to know about the dirham-backed stablecoin ¹ ²:

- *Partnership*: The stablecoin is a collaboration between three major Abu Dhabi institutions:

- *ADQ*: A sovereign wealth fund focused on critical infrastructure and global supply chains.

- *International Holding Company (IHC)*: A conglomerate with a market value of over $243 billion, tied to the Abu Dhabi ruling family.

- *First Abu Dhabi Bank (FAB)*: The UAE's largest bank, formed through a merger in 2017.

- *Key Features*:

- *Dirham-pegged*: The stablecoin will be backed 1:1 by the UAE dirham, ensuring stability and transparency.

- *Regulated*: The project is fully regulated by the UAE Central Bank, providing a secure and trustworthy environment.

- *Blockchain*: The stablecoin will operate on the ADI blockchain, developed domestically by the ADI Foundation.

- *Use cases*: The stablecoin will support various transactions, including machine-to-machine and artificial intelligence.

- *Goals*:

- *Digital infrastructure*: Enhance the UAE's digital economy and position it as a global hub for blockchain innovation.

- *Financial inclusion*: Provide a reliable and efficient means of payment for citizens, businesses, and institutions.

- *Cross-border transactions*: Facilitate faster and more secure international transactions.

This project is part of the UAE's broader strategy to promote digital assets, fintech, and blockchain innovation, with the goal of becoming a global leader in these fields ² ¹.