On #AbuDhabiStablecoin , three major institutions in Abu Dhabi announced the launch of a new stablecoin backed by the UAE Dirham. These institutions are Abu Dhabi Developmental Holding Company (ADQ), International Holding Company (IHC), and First Abu Dhabi Bank (FAB). This stablecoin, which will be regulated by the Central Bank of the United Arab Emirates and issued by First Abu Dhabi Bank (subject to regulatory approvals), aims to facilitate payments and business transactions both locally and globally, enhancing the UAE's position as a leading hub in the field of financial technology. The stablecoin will operate on the ADI blockchain, an advanced technology developed by the ADI Foundation in the UAE.