On October 14, AED Stablecoin LLC secured in-principle approval from the Central Bank of the UAE to launch and establish its stable digital currency, AE Coin. Under the “Payment Token Services Regulation” (Circular No. 2/2024), issued on June 7, 2024, the Central Bank will license AED Stablecoin to issue the UAE’s first-ever AED-backed stablecoin, aligning with the country’s forward-looking vision and the UAE Digital Government Strategy 2025.
AE Coin is poised to revolutionize financial services by offering unprecedented stability, security, and efficiency. As a fiat-backed stablecoin, the UAE Dirham fully supports each AE Coin, ensuring users benefit from both blockchain’s agility and the reliability of traditional currency. The introduction of AE Coin will enable seamless, secure payment solutions while contributing to the UAE’s rapidly expanding digital economy.
For businesses and individuals alike, AE Coin promises a new era of transparent, cost-effective financial services, offering a wide range of applications—from payments to decentralized finance (DeFi) solutions. AE Coin is not just a cryptocurrency; it’s a transformative force for the UAE’s digital economy. As the first stablecoin of its kind, AE Coin is designed to deliver secure, fully regulated transactions, setting a new standard for digital currency in the region.
With a focus on scalability, stability, and efficiency, AE Coin allows for fast, low-cost transactions, all while operating under the strict regulatory oversight of the Central Bank of the UAE. This positions AE Coin at the forefront of the UAE’s transition to a seamless, innovative digital economy.
Ramez Rafeek, General Manager of AED Stablecoin, expressed: “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.”
AE Coin is the first digital currency in the UAE regulated by the Central Bank, offering unprecedented credibility and trust. Backed by the UAE Dirham, AE Coin maintains stability and security through transparent reserves and regular audits, mitigating the volatility commonly associated with cryptocurrencies. It also integrates with decentralized finance platforms, enabling users to engage in lending, borrowing, and earning interest without intermediaries. In addition, this coin leverages state-of-the-art blockchain technology with multi-layer encryption, ensuring that all transactions are secure and transparent and adhere to the highest standards of security and compliance, assuring users of its credibility in the digital financial ecosystem.
AE Coin merges stability and security, making it an ideal solution for various use cases – companies in the UAE can benefit from instant, stable payments using AE Coin, improving cash flow management and reducing transaction costs. AE Coin is perfect for individuals seeking a secure, easy-to-use digital currency for daily transactions. In addition, AE Coin facilitates faster, more efficient transactions, simplifying domestic transfers with lower costs than traditional banking.
AE Coin aims to forge strategic partnerships with leading financial institutions, payment gateways, and technology providers to accelerate adoption in the country. Future goals include integrating with decentralized applications (dApps) and listings on major cryptocurrency exchanges. Its ambitious roadmap includes enabling secure payments across e-commerce platforms, introducing a mobile wallet app for easy access on the go, and expanding use cases by partnering with merchants for digital currency transactions
