AED Stablecoin announced that it has obtained in-principle approval from the Central Bank of the UAE to launch and issue AE Coin. AED Stablecoin becomes the first entity in the UAE to issue AED-backed stablecoins, aligning with the government’s forward-thinking vision and the UAE’s Digital Government Strategy 2025.
AE Coin combines fiat-backed stability with blockchain technology, ensuring that each coin is fully supported by the UAE Dirham.
Ramez Rafeek, general manager of AED Stablecoin, said in a statement: “As the first-ever stablecoin regulated by the Central Bank, AE Coin will revolutionize the digital currency landscape by offering users an unparalleled blend of financial freedom, unwavering stability, and top-tier security.”
Other features:
- Pegged to the Dirham and backed by transparent reserves and regular audits, AE Coin ensures stability, minimizing the volatility associated with traditional cryptocurrencies.
- AE Coin supports decentralized finance (DeFi) platforms, enabling users to access lending, borrowing, and interest-earning opportunities without intermediaries.
- Using blockchain technology and multi-layer encryption, AE Coin ensures that every transaction is securely recorded on the blockchain, promoting trust and transparency.