Abu Dhabi ADI Foundation to Issue UAE Dirham Stablecoin

ChainCatcher reported that the Abu Dhabi ADI Foundation announced progress towards its mission of bringing 1 billion people into the digital economy by 2030.

The foundation, established by Sirius International Holding, is developing a stablecoin backed by the UAE dirham, which will be regulated by the Central Bank of the UAE and operate on the ADI Foundation blockchain. In addition, the ADI Foundation will establish a platform to help the UAE cultivate a Web3-native and blockchain-ready workforce through blockchain fundamentals education and a Web3 solutions prototype testing environment.