AED Stablecoin obtains in-principal approval from the Central Bank of the UAE to establish and issue its own currency

Abu Dhabi, UAE – October 14, 2024

AED Stablecoin LLC proudly announces obtaining the Central Bank of the UAE’s in-principal approval to launch and establish its own currency, AE Coin, under the “Payment Token Services Regulation”; Circular No. 2/2024, dated 7 June 2024, to be licensed by the Central Bank of the UAE. This license will enable AED Stablecoin to be the first-ever entity in the UAE to issue AED Stable Coins, in line with the government’s forward-thinking vision and the UAE’s Digital Government Strategy 2025, AE Coin promises to revolutionize financial services by offering unparalleled stability, security, and efficiency.

AE Coin combines the reliability of fiat-backed stability with the agility of blockchain technology, ensuring that each coin is fully supported by the Dirham. As a regulated stablecoin, it provides seamless, secure payment solutions while fostering the growth of the UAE’s digital economy. For individuals and businesses, AE Coin introduces a new era of transparent, cost-effective financial services, from payments to decentralized finance (DeFi) applications. In a rapidly evolving digital world, AE Coin sets the standard for trust, security, and innovation in digital currency.

AE Coin is more than just a cryptocurrency, it’s a game-changer for the UAE’s digital economy. As the first stablecoin of its kind, designed to provide secure, stable, and fully regulated transactions, AE Coin is set to redefine the way we engage with money in the digital world. With a focus on stability, scalability, and efficiency, AE Coin enables fast, low-cost transactions, all while operating under the regulatory oversight of the Central Bank of the UAE. It’s the future of a seamless, secure, and innovative digital economy.

Ramez Rafeek, General Manager of AED Stablecoin, stated: “We are very pleased to have received the approval of the Central Bank of the UAE to start issuing AE Coin, in accordance with the “Payment Token Services Regulation” Circular. As the first-ever stablecoin regulated by the Central Bank of the UAE, AE Coin will be revolutionizing the digital currency landscape, providing users with an unparalleled blend of financial freedom, unwavering stability, and top-tier security.”
This is the First-Ever Regulated Stablecoin in the UAE: As the first-ever stable digital currency in the UAE, AE Coin is regulated by the Central Bank of the UAE. It is Stable and Secure with a fiat peg and backed by transparent reserves and regular audits, AE Coin offers users the peace of mind that their assets remain stable and secure. This reduces the volatility often associated with traditional cryptocurrencies. It offers DeFi Integration by integrating with decentralized finance platforms (DeFi), AE Coin is at the forefront of the DeFi movement, offering users the ability to engage in decentralized lending, borrowing, and earning interest without intermediaries. In addition, it provides Enhanced Security and Transparency. AE Coin’s state-of-the-art blockchain technology ensures multi-layer encryption, meaning every transaction is securely recorded on the blockchain, ensuring trust and security. Lastly it is adhering to Global Regulatory Compliance, with complete regulatory oversight from the Central Bank of the UAE, AE Coin assures users that it adheres to the highest standards of security and compliance in digital finance.

AE Coin combines the best of stability and security, making it the ideal digital currency solution for multiple use cases. Companies in the UAE can use AE Coin’s stable and regulated currency for instant payments to other companies in the UAE holding AE Coin wallets, improving cash flow management and reducing transaction costs. For individuals looking to invest, save, or use digital currency for everyday transactions, AE Coin’s intuitive and secure platform makes it easy for anyone to get started. Individuals using AE Coin will enjoy instant, hassle-free transactions without any delays and fees compared to traditional banking. AE Coin harnesses the speed and efficiency of blockchain technology, facilitating instant, secure, and cost-effective transactions. It simplifies domestic transfers, making financial transactions faster and more efficient. As a digital currency, AE Coin is designed to support the UAE’s growing digital economy, enabling easier, more secure payments that contribute to the country’s financial innovation. Lastly, AE Coin is designed to foster economic growth, providing individuals and businesses with new opportunities to thrive in the digital economy.
AE Coin’s strategy focuses on forming strategic partnerships with major financial institutions, payment gateways, and technology providers to ensure widespread adoption. AE Coin’s ambitious roadmap includes integration with decentralized applications (dApps), listings on major exchanges, and ongoing technological advancements. 

As AE Coin continues to innovate, future enhancements include e-commerce Integration for simplifying payments for users, enabling them to make secure transactions across e-commerce platforms. It will also oversee Mobile Wallet Capabilities, which will be a seamless mobile wallet app that will allow on-the-go access to AE Coin, enhancing convenience and usability. In addition, it will also have Merchant Partnerships, where AE Coin will partner with merchants to increase real-world use cases, making digital currency more accessible for everyday transactions.

Join the movement today and discover how AE Coin can enhance your financial freedom. Stay tuned for our launch date and be among the first to experience the future of money.

Quoted from “Gulf Today” without any responsibility on our website