We're excited to announce our partnership with ADI Foundation, the Abu Dhabi-based blockchain organization that aims to bring large scale projects in emerging markets onchain. OpenZeppelin is providing comprehensive security auditing to ensure ADI Chain launches with bank-grade security standards, that will eventually serve in supporting First Abu Dhabi Bank, ADQ and IHC’s groundbreaking initiative to issue a UAE Central Bank-regulated dirham-backed stablecoin, one of many institutional focused projects the ADI Foundation plans to bring onchain.
ADI Chain: The Infrastructure Behind UAE's Dirham Stablecoin
ADI Foundation is building sovereign blockchain infrastructure with an ambitious goal: bringing 1 billion people in the Middle East, Asia, and Africa onchain by 2030. Through partnerships across 20+ countries facilitated through the parent company Sirius International Holding — the digital arm of IHC.The foundation focuses on government and institutional blockchain adoption. The team, led by the CEO Andrey Lazorenko, brings together executives with backgrounds at NatWest, M-PESA Africa, and Airtel Africa.
ADI Foundation has built ADI Chain – one of the first blockchains tailored to meet the needs of governments and institutions across the Middle East, Africa, and Asia. The foundation is building the infrastructure for the most anticipated dirham-backed stablecoin, which was announced recently as a collaboration between First Abu Dhabi Bank (FAB), the MENA Region’s largest bank, ADQ, a significant sovereign wealth fund based in Abu Dhabi, and IHC, a UAE-based investment firm valued at over $240 billion. The stablecoin will be fully regulated by the Central Bank of the UAE and issued on ADI Chain. This represents a major milestone in regulated digital currency adoption by traditional financial institutions.
OpenZeppelin x ADI Foundation: Bank-Grade Security for Institutional Blockchain
OpenZeppelin's security auditing spans across two critical components: the ADI Token, and the underlying ADI Chain infrastructure. Our work ensures that all critical chain infrastructure components meet institutional-level security requirements.
Our security assessment includes pre-mainnet evaluation of all smart contracts and core infrastructure, thorough auditing of token contracts to meet bank-grade security standards and comprehensive review of the blockchain's critical systems. Our security work ensures this pioneering implementation meets the stringent requirements for government and banking adoption.
A New Era for Regulated Digital Assets
The convergence of sovereign blockchain infrastructure, regulated stablecoins, and major financial institutions marks a new era in digital finance. We're proud to support ADI Foundation in building secure, compliant blockchain infrastructure that will serve as the foundation for the next generation of institutional digital assets.
Learn more about ADI Foundation and ADI Chain at adi.foundation