#AbuDhabiStablecoin Until April 29, 2025, Abu Dhabi has made significant progress in the development and regulation of stablecoins, consolidating its position as a digital financial hub in the region.

The Central Bank of the United Arab Emirates has granted final approval to AE Coin, a stablecoin backed by the dirham. This approval allows its use in digital transactions, providing a stable and regulated option for businesses and consumers within the country.

At the same time, Tether has announced plans to launch a dirham-linked stablecoin in collaboration with Phoenix Group and Green Acorn Investments. This move aims to diversify digital currency options in the region and facilitate international trade and remittances.

Additionally, the Abu Dhabi Global Market Financial Services Regulatory Authority has officially recognized Tether's USDT as an accepted virtual asset. This approval allows financial service providers to offer products related to USDT, integrating it into Abu Dhabi's regulated financial ecosystem.

These developments reflect Abu Dhabi's commitment to financial innovation and its strategy to become a leader in the field of digital finance.