🚨Abu Dhabi steps in the crypto game.🚨
Abu Dhabi is advancing its role in digital finance with the introduction of AE Coin, a stablecoin pegged to the UAE dirham. Approved by the UAE Central Bank, AE Coin aims to enhance the nation’s position as a crypto hub, reflecting its commitment to integrating blockchain technology into the financial sector. In a related development, Tether announced plans to launch a dirham-pegged stablecoin, backed by UAE reserves, in partnership with Phoenix Group and Green Acorn Investment. This initiative underscores the growing demand for Gulf currencies in global trade and offers an alternative to dollar-based stablecoins. These efforts align with the UAE’s broader strategy to foster innovation and diversify its economy through digital assets.