#AbuDhabiStablecoin – April 29, 2025

Abu Dhabi is rapidly emerging as a leading global destination for digital finance. The Central Bank of the United Arab Emirates has granted final approval for AE Coin, the first stablecoin pegged to the UAE dirham. AE Coin, fully backed by reserves within the UAE, aims to provide stability and efficiency in digital transactions.

In an important move, Abu Dhabi's sovereign wealth fund, MGX, invested 2 billion US dollars in the Binance platform, marking the platform's first institutional investment. This investment, which was made in stablecoins, reaffirms the UAE's commitment to becoming a hub for cryptocurrency innovation.

Furthermore, the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market has proposed a regulatory framework for fiat-backed reference tokens (FRTs), aiming to oversee the issuance of stablecoins and standardize their criteria.

Thanks to these developments, Abu Dhabi holds a leading position in the digital currency revolution, combining foresight in regulatory frameworks with technological innovation.

#CryptoUAE#Stablecoin#AEcoin#DigitalDirham #BlockchainMiddleEast

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