#AbuDhabiStablecoin

In April 2025, Abu Dhabi strengthens its position as a global crypto hub through the launch of AE Coin, the first stablecoin fully backed by the UAE dirham. This move is part of the country's strategy to encourage the adoption of digital assets and expand the use of local currency in global trade.

AE Coin was developed with support from Phoenix Group and Green Acorn Investment, and is awaiting approval from the Central Bank of the UAE. This stablecoin is designed to provide an alternative to the dominance of the US dollar in crypto transactions, fully backed by liquid reserves based on the dirham.

Additionally, Abu Dhabi through MGX, an investment vehicle supported by Mubadala, invested $2 billion in the form of stablecoin into Binance, marking the first institutional investment for the world's largest cryptocurrency exchange. This move reflects the UAE's commitment to advancing the transformational potential of blockchain in digital finance.

With this initiative, the UAE not only strengthens its digital financial infrastructure but also demonstrates its ambition to become a leader in the global crypto ecosystem.