#AbuDhabiStablecoin Abu Dhabi is making significant strides in the digital currency arena with the introduction of two dirham-backed stablecoins: DRAM and AE Coin.

DRAM, developed by Distributed Technologies Research (DTR), is an Ethereum-based ERC-20 token pegged to the UAE dirham. Launched on decentralized platforms like Uniswap and PancakeSwap, DRAM is issued by Hong Kong-based DRAM Trust, ensuring that each token is backed by dirham reserves held in regulated financial institutions. While currently not available in the UAE or Hong Kong, discussions are underway to list DRAM on centralized exchanges outside these jurisdictions.

AE Coin, on the other hand, has received full regulatory approval from the Central Bank of the UAE, making it the country's first officially sanctioned dirham-backed stablecoin. Fully backed by reserves within the UAE, AE Coin aims to provide a stable and secure digital payment solution. The coin is designed to facilitate faster, cost-effective transactions and is expected to be integrated into various financial services, including e-commerce and decentralized finance platforms.

These developments underscore the UAE's commitment to embracing blockchain technology and fostering innovation in the financial sector.