#AbuDhabiStablecoin In October 2024, Abu Dhabi marked a significant milestone in its digital finance journey with the in-principle approval of AE Coin, the UAE’s first dirham-backed stablecoin, by the Central Bank of the UAE. Issued by AED Stablecoin LLC, AE Coin is fully backed by UAE Dirham reserves and operates under the Payment Token Services Regulation, ensuring transparency and regulatory compliance. [1]

AE Coin is designed to facilitate secure, low-cost transactions and is poised to integrate into various sectors, including decentralized finance (DeFi) and everyday commerce. This initiative aligns with the UAE’s Digital Government Strategy 2025, aiming to position the nation as a leader in blockchain innovation and digital payments. [2]

The stablecoin's introduction reflects Abu Dhabi's commitment to embracing financial technology advancements, providing a regulated and stable digital currency option for both consumers and businesses.