The UAE approved the launch of AED Coin!

AED Coin (AE Coin) is a regulated stablecoin pegged to the UAE Dirham (AED) that was approved by the UAE Central Bank in 2024. It was developed by AED Stablecoin LLC as part of the Payment Token Services Regulation regulatory initiative. This project is part of the UAE government's digital strategy for 2025 and aims to promote the development of the country's digital economy.

Main features of AE Coin:

1. Pegging to Dirhams: The value of one AE Coin is fully supported by cash reserves in AED held in escrow accounts in UAE banks.

2. Usage: The token is focused on safe and fast payments, both for everyday use and for use in DeFi (decentralized finance).

3. Regulation: AE Coin meets the strict requirements of the UAE Central Bank. All stablecoins must have reserves, of which at least 50% are in cash and the rest in government bonds or monetary instruments of the Central Bank.

4. Goals: The project is aimed at increasing financial inclusion and transparency in digital payments.