The IHC, ADQ, and First Abu Dhabi Bank (FAB) have announced the intent to launch a new stablecoin that has been in Dirham (AED). The new digital currency issued by First Abu Dhabi Bank will travel to the ADI Blockchain and will be organized by the UAE (CBUAE) Central Bank.
Abu Dhabi: The announcement that the UAE will launch the new Stablecoin already in Dirham
In Abu Dhabi, the giant institutions IHC, ADQ, and the First Abu Dhabi Bank (FAB) announced The intention of launching the new Stablecoin who has been lying in UAE Dirham.
In practice, the new stablecoin will be fully controlled by the central bank of the UAE (CBUAE) and Issued by the largest bank in the United Arab Emirates, FAB, subject to regulatory approvement.
According to what has been Nakasa saidThe new stablecoin is aimed at facilitate payments and conduct businessBoth local and around the world. Moreover, the idea is that paying with stablecoin may allow identity, management, and value to flow freely, safely, and reasonably.
UAE's new stablecoin will be used as a reliable digital currency in a wide range of sunny scenarios, citizens and consumers, businesses and institutions.
Moreover, the project plans to be able to Support emerging cases of digital use, Like Machine-to-Machine and Ai.
Abu Dhabi: The new UAE Dirham Stablecoin will travel to Adi Blockchain
Another significant detail revealed by giant institutions about the new stablecoin who has been lying to UAE Dirham is this Will travel to the adi blockchain.
This is a blockchain developed by Fondazione Adi In the UAE, with the aim of providing a following distribution network for blockchain payments.
The ADI Foundation connects established financial systems with the next generation of blockchain technology to create an impact on the real world. In this way, citizens of emerging countries can compete and work on a global size, something that can be impossible. The ADI Foundation has developed strategic partnerships with governments of more than 20 countries.
In this regard, Se Mohamed Hassan AlsuwaidiCEO of ADQ, stated:
“Stablecoin launch marking a key step in our commitment to strengthen the UAE's digital infrastructure ecosystem. As we move to a more digital and connected economy, Stablecoin will provide a safe, efficient, and measured solution, while simultaneously creating new opportunities for growth and value.”
The symbol of digital dirham
Last month, The cbuae has also opened the symbol of dirham, both digital and physical, As an initiative showing the development of the UAE National Currency Digitalization Program.
This is a Letter “D” that included Two horizontal lines representing the stability of the country's currency and inspiration of the UAE flag.
The symbol then sees the existence of a circle surrounding it, With the colors of the UAE flag to show national pride and identity.
Also on that occasion, CBUAE has shown the combined platform for release, circulation, and use of money in its digital format.
The idea of cbuae is that The new Stablecoin who has been in the UAE Dirham will be released by the final quarter of 2025 for the retail sector.
