As of the end of April 2025, Abu Dhabi is emerging as an innovation hub in the field of cryptocurrency, particularly stablecoins. One of the notable advancements is the launch of AE Coin, the first stablecoin licensed by the UAE Central Bank, which is fully pegged to the UAE dirham.

AE Coin was developed by AED Stablecoin LLC and received official approval from the UAE Central Bank in December 2024. This currency is designed to provide fast, secure, and low-cost transactions while strictly adhering to the country's financial regulations. AE Coin has been integrated into Mbank's system, allowing users to easily conduct digital transactions through the AEC Wallet.

Alongside AE Coin, Tether—the largest stablecoin issuer in the world—has announced plans to launch a new stablecoin pegged to the UAE dirham. This initiative is being carried out in collaboration with Phoenix Group and Green Acorn Investments, in response to the growing demand for stable digital currency in the region.

Additionally, Abu Dhabi is also developing a legal framework for Fiat-Referenced Tokens (FRTs), to ensure that all issued stablecoins have corresponding reserves and comply with financial safety standards. This demonstrates Abu Dhabi's commitment to creating a safe and transparent cryptocurrency environment.

With these advancements, Abu Dhabi is solidifying its position as a leading digital financial hub, promoting the development of the digital economy.