Three major organizations in Abu Dhabi, including the government investment fund ADQ, First Abu Dhabi Bank, and International Holding Co., are collaborating to create a dirham-backed stablecoin. This move aims to enhance the ease and speed of digital payments within the UAE.
According to reports, the stablecoin aims to simplify transactions and support modern digital uses, including AI. The CEO of First Abu Dhabi Bank stated its potential to transform payment methods for consumers and businesses.
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