Stablecoin

Token

Bank

United

Coin

<p data-pm-slice="1 1 []">The United Arab Emirates’ push for digitization received a major boost with the Central Bank of the UAE’s innovative approval of the nation’s inaugural regulated stablecoin. Granting AED Stablecoin LLC in-principle approval to launch AE Coin establishes the Emirates atop the global frontier, harmonizing financial innovation with 2025 objectives for a digital-first society.</p> 
<p data-pm-slice="1 1 []"><a href="https://www.qubetics.com/?utm_source=TBJ&amp;utm_medium=Central+Bank+Greenlights+Launch+of+the+First+AED+Stablecoin" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" class="wp-image-53959 size-full aligncenter" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/0B857336-1674-40D9-B314-0837568BC39D.jpeg" alt="Ripple CEO Spills the Beans on 60 Minutes with XRP's Vision" width="728" height="90" title="Central Bank Greenlights Launch of the First AED Stablecoin 42" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/0B857336-1674-40D9-B314-0837568BC39D.jpeg 728w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/0B857336-1674-40D9-B314-0837568BC39D-300x37.jpeg 300w" sizes="(max-width: 728px) 100vw, 728px"></a></p> 
<h2 id="strong-ae-coin-pioneering-the-uae-s-digital-currency-landscape-aed-stablecoin-strong"><strong>AE Coin: Pioneering the UAE’s Digital Currency Landscape, AED Stablecoin</strong></h2> 
<p>AE Coin promises stability and convenience by fully backing each token with the Emirates’ dirham via blockchain technology. While traditional currencies constrain opportunities, this stablecoin aims to unshackle potential through low-cost, transparent transactions online and off—for citizens, organizations and decentralizing finance alike. Whether settling everyday payments or advanced applications, AE Coin targets accessibility that strengthens both individual independence and economic strength through emerging platforms.</p> 
<figure id="attachment_75255" aria-describedby="caption-attachment-75255" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-75255 size-full" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin1.webp" alt="Central Bank Greenlights Launch of the First AED Stablecoin" width="1792" height="1024" title="Central Bank Greenlights Launch of the First AED Stablecoin 43" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin1.webp 1792w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin1-300x171.webp 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin1-1024x585.webp 1024w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin1-768x439.webp 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin1-1536x878.webp 1536w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin1-860x491.webp 860w" sizes="(max-width: 1792px) 100vw, 1792px">
 <figcaption id="caption-attachment-75255" class="wp-caption-text">
  AE Coin
 </figcaption>
</figure> 
<p>“We are thrilled by this historic approval from the Central Bank of the UAE enabling the issue of AE Coin according to ‘Payment Token Services Regulation’ provisions,” said Ramez Rafeek, General Manager of AED Stablecoin LLC, “It marks a giant step affirming our shared vision of a pioneering financial system.”</p> 
<figure id="attachment_75235" aria-describedby="caption-attachment-75235" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://x.com/AECoin_UAE/status/1866360203849175258?ref_src=twsrc%5Etfw&amp;utm_source=TBJ&amp;utm_medium=Central+Bank+Greenlights+Launch+of+the+First+AED+Stablecoin" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" class="size-full wp-image-75235" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-stablecoin.png" alt="Central Bank Greenlights Launch of the First AED Stablecoin" width="919" height="808" title="Central Bank Greenlights Launch of the First AED Stablecoin 44" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-stablecoin.png 919w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-stablecoin-300x264.png 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-stablecoin-768x675.png 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-stablecoin-860x756.png 860w" sizes="(max-width: 919px) 100vw, 919px"></a>
 <figcaption id="caption-attachment-75235" class="wp-caption-text">
  <a href="https://x.com/AECoin_UAE/status/1866360203849175258?ref_src=twsrc%5Etfw" rel="nofollow" target="_blank">AE Coin announced on X</a>
 </figcaption>
</figure> 
<h2 id="strong-tether-s-foray-into-the-uae-market-strong"><strong>Tether’s Foray into the UAE Market</strong></h2> 
<p data-pm-slice="1 1 []">In parallel, Tether is introducing an AED Stablecoin pegged to the Emirati dirham. This initiative comes through a collaboration between Tether, Phoenix Group and Green Acorn Investments. The forthcoming token will be fully supported by liquid reserves based in the UAE, following Tether’s established standards. Remarking on the move, Paolo Ardoino said, “The UAE is emerging as a significant economic centre globally, and we believe our users will find the dirham-pegged token to be a useful and flexible addition.”</p> 
<h2 id="strong-uae-s-regulatory-framework-a-catalyst-for-innovation-strong"><strong>UAE’s Regulatory Framework: A Catalyst for Innovation</strong></h2> 
<p>The Payment Token Services Regulation issued by the CBUAE in mid-2024 played a key role in cultivating a welcoming environment for digital currency projects. The framework stresses the need for fully backed assets, mandating stablecoin issuers maintain no less than half of reserves in cash at UAE banks, with the rest in secure investments like government bonds.</p> 
<p>This progressive approach has drawn major crypto industry participants, including exchanges OKX and M2 which launched trading and conversion offerings within the country. The commitment to becoming a global digital asset hub is clear through the rapid adoption of cryptocurrency payments across sectors from real estate to education in the UAE.</p> 
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-75257 size-full" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin.webp" alt="Central Bank Greenlights Launch of the First AED Stablecoin" width="1792" height="1024" title="Central Bank Greenlights Launch of the First AED Stablecoin 45" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin.webp 1792w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin-300x171.webp 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin-1024x585.webp 1024w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin-768x439.webp 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin-1536x878.webp 1536w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/AED-Stablecoin-860x491.webp 860w" sizes="(max-width: 1792px) 100vw, 1792px"></p> 
<h2 id="strong-implications-for-the-future-of-digital-finance-in-the-uae-strong"><strong>Implications for the Future of Digital Finance in the UAE</strong></h2> 
<p data-pm-slice="1 1 []">The launch of the AE Coin AED stablecoin and Tether’s forthcoming dirham-pegged digital cash signals a major turning point for the digital monetary landscape within the UAE. These advancements are anticipated to further encourage inclusion, streamline cross-border exchanges, and stimulate innovation across multiple sectors like e-commerce and international money transfers.</p> 
<p>As the UAE continues striving to lead digital transformation, the successful execution and adoption of these stablecoins will be pivotal in shaping the long-term prospects of its economic system. The collaboration between regulatory bodies and private entities underscores a shared vision of a protected, efficient, and accessible digital economy.</p> 
<h2 id="strong-summing-up-strong"><strong>Summing Up</strong></h2> 
<p data-pm-slice="1 1 []">In summary, the approval of AE Coin, AED Stablecoin by the CBUAE and Tether’s strategic expansion into the UAE market represent landmark milestones in the nation’s digital finance journey. These projects not only mirror the UAE’s pledge to embracing technological progress but also establish a precedent for other countries aiming to incorporate digital currencies into their financial structures. The coming months will be critical to witnessing how these advancements unfold and their impact on the broader economic landscape.</p> 
<p data-pm-slice="1 1 []">Stay tuned to <a href="https://thebitjournal.com/">The BIT Journal</a> and keep an eye on Crypto’s updates. Follow us on <a href="https://twitter.com/Thebitjournal_" rel="nofollow noopener" target="_blank">Twitter</a> and <a href="https://www.linkedin.com/company/the-bit-journal/" rel="nofollow noopener" target="_blank">LinkedIn</a>, and join our <a href="https://t.me/thebitjournal" rel="nofollow" target="_blank">Telegram</a> channel to be instantly informed about breaking news!</p>

Central Bank Greenlights Launch of the First AED Stablecoin

Table of Contents

The Bit Journal

Other articles published on Dec 10, 2024

Can KOMA Coin Sustain Its Rapid Rise?

SHIB News: Shiba Inu Price Gains Momentum with Shibarium Surpassing 2 Million Wallets

MicroStrategy Acquires Over 21K BTC, Now Possesses 2% Of Global Bitcoin Holdings

World’s Crypto Leader? Why India Tops the Global Adoption Index!

Crypto Market Cap Slumped by $300 Billion Amid BTC, Altcoin Massacre: Market Watch

Argentina Opens Market to Bitcoin and Ethereum ETFs

Join our free newsletter for daily crypto updates!