H2O Hospitality, a South Korean hospitality tech company, said Friday that it has been selected as a strategic partner to help build infrastructure for the United Arab Emirates' national digital currency initiative.
The company signed an agreement with the ADI Foundation, an Abu Dhabi-based organization, to serve as the primary strategic partner for the travel and consumer sectors on the ADI Chain.
The ADI Foundation was established by Sirius International Holding, the technology arm of International Holding Company, the Middle East’s largest investment holding firm, which manages approximately 350 trillion won ($240 billion) in assets.
The partnership supports the UAE government’s initiative to issue a dirham-pegged stablecoin. The digital currency will be issued by First Abu Dhabi Bank, the country’s largest lender, on the ADI Chain, a Layer-2 blockchain network designed for fast transaction and scalability.
Under the agreement, H2O will serve as a gateway for international travelers to access the new currency. The company will develop non-custodial mobile wallets and integrate them into its existing smart check-in system, enabling tourists to create digital wallets upon arrival and make payments via QR codes. The system is designed to connect the entire travel experience to the blockchain in a seamless manner.
H2O said the partnership was a strategic expansion beyond traditional hospitality operations, opening new revenue streams that combine fintech and data-driven services.
"We are honored to participate as a technology and distribution partner in this core project for the UAE, which aims to establish itself as a global digital asset hub," said John Lee, CEO of H2O Hospitality. "We will build an innovative infrastructure that allows tourists to conveniently use stablecoins without requiring them to understand the underlying blockchain technology."
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