The Central Bank of the UAE has approved the launch of a dirham-pegged stablecoin
As reported by the AED Coin development team, the launch of the stablecoin, pegged to the national fiat currency, will meet the needs of all segments of the population and businesses for a safe and stable payment instrument.
"The main goal of AED Coin is to provide individuals and businesses with a modern financial tool to access technologies such as e-commerce, money transfers, and decentralized finance," said a representative of AED Stablecoin.
The company clarified that the launch of the stablecoin fully aligns with the country's adopted "UAE Digital Development Strategy" and will be another step on this path.
Earlier, the company Tether announced its intention to launch a dirham-pegged stablecoin. The project is being developed with the support of the cryptocurrency conglomerate Phoenix Group, registered on the Abu Dhabi exchange, as well as the investment company Green Acorn.#2024withBinance
