AED Stablecoin LLC has received in-principle approval from the Central Bank of the UAE to introduce AE Coin, a stable digital currency backed by the UAE dirham.
This approval is part of the ‘Payment Token Services Regulation’ (Circular No. 2/2024), which licenses AED Stablecoin to issue the country’s first-ever fiat-backed stablecoin, aligning with the UAE’s strategic focus on digital innovation and its UAE Digital Government Strategy 2025.
Each AE Coin is fully supported by the UAE dirham, allowing users to experience the agility of blockchain technology combined with the reliability of traditional currency. As a stablecoin, AE Coin offers a seamless, secure payment solution while contributing to the UAE’s growing digital economy.
Unlike other cryptocurrencies, AE Coin is regulated by the Central Bank of the UAE, offering users a level of trust and transparency that is rare in the crypto space.
Backed by the UAE dirham, AE Coin maintains stability through transparent reserves and regular audits, helping mitigate the volatility often associated with cryptocurrencies. AE Coin integrates with decentralized finance (DeFi) platforms, allowing users to engage in lending, borrowing, and earning interest without intermediaries. Additionally, the coin operates on a blockchain platform with multi-layer encryption, ensuring transactions are secure, transparent, and compliant with regulatory standards.
AE Coin is set to revolutionize payment solutions across the UAE. The roadmap includes enabling secure payments on e-commerce platforms and launching a mobile wallet app to allow users to access AE Coin on the go. Furthermore, the company is exploring partnerships with merchants to promote the use of digital currency in everyday transactions.
Ramez Rafeek, General Manager of AED Stablecoin, said:
“We are thrilled to receive approval from the Central Bank of the UAE to begin issuing AE Coin. As the first stablecoin regulated by the Central Bank, AE Coin will revolutionize the digital currency space by providing financial freedom, unmatched stability, and enhanced security.”
For businesses and individuals, AE Coin offers a new era of transparent, cost-effective financial services. Its range of applications extends from facilitating payments to powering decentralized finance (DeFi) solutions. AE Coin’s blockchain platform enables faster, low-cost transactions, positioning it as a key player in the UAE’s transition to a more seamless and innovative digital economy.
Businesses in the UAE can leverage AE Coin for instant, stable payments, improving cash flow management and reducing transaction costs. At the same time, individuals can use AE Coin for secure, user-friendly digital transactions in their daily lives. The stablecoin also offers a more efficient way to handle domestic transfers, cutting costs compared to traditional banking methods.
AE Coin has ambitious plans to accelerate adoption through partnerships with leading financial institutions, payment gateways, and technology providers. Future goals include integration with decentralized applications (dApps) and listing AE Coin on major cryptocurrency exchanges to expand its reach further.
By combining the benefits of stability, security, and blockchain technology, AE Coin aims to be a cornerstone in the UAE’s digital financial ecosystem, providing a range of solutions for businesses and consumers alike.
Read Next
Sign up to get the inside scoop on today’s biggest stories in markets, finance, and business.
By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy. You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.
Leave a Reply