#AbuDhabiStablecoin

Abu Dhabi has launched a new stablecoin known as "AE Coin", which is the first digital currency backed by the UAE Dirham and has received preliminary approval from the UAE Central Bank. This currency aims to enhance financial stability and facilitate digital transactions within the country. In parallel, Tether, in collaboration with the Phoenix Group, announced the development of another stablecoin backed by the Dirham, reflecting the UAE's commitment to expanding the range of digital assets. These initiatives are part of the UAE's strategy to become a global hub for digital finance, focusing on innovation and effective regulation. These currencies are expected to contribute to accelerating digital transformation and enhancing the UAE's position in the global economy.