#AbuDhabiStablecoin Abu Dhabi actively advancing its digital finance infrastructure through the development of dirham-pegged stablecoins, aligning with the United Arab Emirates (UAE) broader ambition to become a global hub for Blockchain innovation.

AE Coin has received in-principle approval from the Central Bank of the UAE (CBUAE), positioning it as the nation's first regulated stablecoin pegged to the UAE dirham. This stablecoin is fully backed by dirham reserves held in escrow at UAE banks, AE coins aims to facilitate seamless payments, support cryptocurrency trading pairs, and enhance merchant transactions within the UAE's digital economy.

Tether, in collaboration with Abu Dhabi-based Phoenix Group and Green Acorn Investment, plans to launch a stablecoin pegged to the UAE dirham.

A consortium comprising Abu Dhabi's sovereign wealth fund ADQ, First Abu Dhabi Bank (FAB), and International Holding Company (IHC) has announced plans to launch a dirham- backed stablecoin.