AED Stablecoin LLC has received in-principle approval from the Central Bank of the UAE to launch AE Coin, the country’s first dirham-backed stable digital currency. This marks a major step toward achieving the UAE’s Digital Government Strategy 2025, offering seamless payment solutions through a regulated, stablecoin framework.
Issued under the Central Bank’s ‘Payment Token Services Regulation’ (Circular No. 2/2024), AE Coin will be licensed as the UAE’s inaugural stablecoin fully backed by the dirham. With the stability of fiat currency and the agility of blockchain technology, AE Coin promises to streamline secure digital payments while supporting the UAE’s fast-growing digital economy.
AE Coin distinguishes itself as the first UAE-regulated digital currency, assuring users of transparency and security. Each AE Coin is backed 1:1 by the UAE Dirham, providing a reliable and stable alternative to volatile cryptocurrencies. Regular audits and transparent reserves bolster confidence in AE Coin, which also integrates with decentralized finance (DeFi) platforms, offering access to lending, borrowing, and interest-earning opportunities without intermediaries.
The coin’s infrastructure is built on advanced blockchain technology, featuring multi-layer encryption that guarantees secure, transparent transactions. By adhering to stringent security standards, AE Coin ensures users can confidently participate in the evolving digital financial ecosystem.
Widespread Use and Accessibility
AE Coin’s future roadmap includes enabling secure payments on e-commerce platforms and launching a mobile wallet app, allowing users to make instant, low-cost transactions from anywhere. AED Stablecoin also plans to partner with merchants to expand digital currency use cases across various sectors.
Commenting on the milestone, 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.”
With its fast, cost-effective transaction model and the Central Bank’s regulatory oversight, AE Coin is set to lead the UAE’s transition to a fully integrated digital economy. This stablecoin provides a comprehensive solution for businesses and individuals looking to enhance cash flow management, streamline payments, and reduce transaction costs.
Future Goals
In the coming months, AED Stablecoin aims to foster partnerships with financial institutions, payment gateways, and technology providers to accelerate AE Coin’s adoption. Plans also include integration with decentralized applications (dApps) and listings on major cryptocurrency exchanges.
As the UAE continues its journey towards a seamless digital future, AE Coin offers a stable, secure financial tool to meet the growing demand for innovative payment solutions.
