#AbuDhabiStablecoin
#AbuDhabiStablecoin 📢 *#AbuDhabiStablecoin – AE Coin Gains Regulatory Approval in the UAE*
In a significant move for the UAE's digital economy, the Central Bank of the United Arab Emirates (CBUAE) has granted in-principle approval to AED Stablecoin LLC to launch AE Coin, the nation's first dirham-pegged stablecoin. [1]
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🏦 *Regulatory Milestone*
AE Coin is set to become the first regulated stablecoin in the UAE, aligning with the country's Payment Token Services Regulation. The CBUAE's framework mandates that stablecoins be fully backed by UAE dirhams, with reserves held in segregated accounts within UAE banks. Alternatively, issuers may hold at least 50% of reserve assets in cash, with the remainder invested in UAE government bonds or CBUAE Monetary Bills. [2]
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💡 *Features and Benefits*
- *Stability and Security*: AE Coin is fully backed by the UAE dirham, ensuring price stability and reducing volatility.
- *Regulatory Compliance*: As a CBUAE-approved stablecoin, AE Coin offers users confidence in its adherence to financial regulations.
- *Integration with DeFi*: The stablecoin is designed to integrate seamlessly with decentralized finance platforms, enabling users to access lending, borrowing, and other financial services. [3]