#AbuDhabiStablecoin Abu Dhabi has emerged as a leader in the development of UAE dirham-backed stablecoins, marking a significant step in the region's digital finance landscape. The first such stablecoin, AE Coin, was introduced by AED Stablecoin LLC and received in-principle approval from the Central Bank of the UAE in October 2024. AE Coin is fully backed by the UAE dirham and integrates with decentralized finance (DeFi) platforms, offering users secure and transparent transactions.

In August 2024, Tether, in collaboration with Abu Dhabi-based Phoenix Group PLC and supported by Green Acorn Investments Ltd, announced plans to launch another dirham-pegged stablecoin. This initiative aims to provide a stable, reliable, and secure digital currency, bridging the gap between traditional finance and the digital economy.