While Stablecoins runs in the middle of the stage, banks around the world and the UAE embrace during digital assets. The UAE First Abu Dhabi Bank (FAB), IHC, and ADQ Sovereign Investor will launch a new AED-back Stablecoin regulated by the UAE Central Bank.
AED Stablecoin will be released by Fab. The trio aims to make local and international payments easier. The AED Stablecoin is designed to enable payment for the world where identity, management and flow value is free, safe, and reasonable.
As with each press release, AED Stablecoin will also support emerging cases of digital use such as machine-to-machine and AI.
Hana Al Rostamani, Chief Executive Executive of FAB, also said that new stablecoins will make a significant impact on the industries and may change the use of trusted blockchain payments for UAE consumers and businesses.
FAB AED Stablecoin will be built on Adi Blockchain
The new stablecoin will operate on the ADI blockchain, built in the UAE of the ADI Foundation. The network will provide a following distribution network for blockchain payments.
The ADI Foundation connects established financial systems with the next-generation blockchain technology to create a real-world impact, allowing citizens of emerging countries to compete and work on a global size, previously impossible. The ADI Foundation already has a strategic partnership with governments in more than 20 countries.
The ADI Foundation is a non-profit organization dedicated to helping governments connect with trusted partners to advance the digital transformation and adoption of blockchain worldwide. Rotated in Abu Dhabi, the Foundation uses $ 120 million funds and a global network of partners to deliver blockchain solutions that improve trust, transparency, and efficiency to major sectors such as health care, financial systems, maintenance, and management.
Guillaume de la Tour, CEO of the ADI Foundation, commented, “This Stablecoin marks a pivotal milestone on the UAE travel to a more inclusive and digital powered economy. By stealing the Adi Blockchain, we activate safe, transparent, and efficient transactions in the scale – developed in technology -developed technology developed here in technology -developed technology developed here in technology UAE.
H.e. Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ, noted that the launch of Stablecoin is an important step in their commitment to strengthening the UAE's digital infrastructure.
He believes that stablecoins will provide a solution that is safe, efficient, and measured, while creating new opportunities for creating and creating value.
Syed Basar Shueb, CEO of IHC, added, “This new stablecoin represents a major success in the development of digital currencies. By bringing IHC's expertise to blockchain and fintech, we expect cooperation with our partners to explore its extensive potential and drive UAE change.”
UAE has already controlled AE Coin Stablecoin
This is not the first AED Stablecoin to be launched in the UAE. After all, the UAE Central Bank is licensed by the AE coin developed by MBank. In addition, Tether is also in the process of launching an AED stablecoin in the UAE.
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