#AbuDhabiStablecoin Abu Dhabi is about to launch its first stablecoin pegged to the dirham, the official currency of the United Arab Emirates. The new digital currency, called AE Coin, has received preliminary approval from the Central Bank of the United Arab Emirates and will be regulated under the Payment Token Service framework. Each AE Coin will be backed 1:1 by dirhams, with reserves held in local bank accounts or in government securities of the United Arab Emirates.