#AbuDhabiStablecoin Abu Dhabi has launched AE Coin, a stablecoin backed by the Emirati dirham and approved by the central bank, as part of its strategy to become a global hub for crypto assets. Additionally, the sovereign fund MGX invested $2 billion in Binance, the largest cryptocurrency exchange, using stablecoins as a form of payment. Tether also announced plans to issue a stablecoin linked to the dirham, backed by local reserves and in collaboration with Phoenix Group. These initiatives reflect the United Arab Emirates' commitment to integrating blockchain and digital finance into its diversified economy.