Abu Dhabi Launches Dirham-Backed Stablecoin Project for Enhanced Payments

The United Arab Emirates’ Abu Dhabi International Holding Company (ADQ) and First Abu Dhabi Bank (FAB) have announced plans to launch a dirham-backed stablecoin, fully regulated by the UAE Central Bank. This innovative project aims to revolutionize payment solutions and digital infrastructure in the region. The stablecoin will operate on the ADI blockchain and is being issued by FAB pending regulatory approvals. It will be used by consumers, businesses, and institutions for various applications, including machine-to-machine transactions and AI-driven processes.

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