AED Stablecoin LLC has obtained preliminary approval from the Central Bank of the UAE to introduce its own stable digital currency, AE Coin. This initiative aligns with the country’s progressive vision and the UAE Digital Government Strategy 2025, as outlined in the Payment Token Services Regulation (Circular No. 2/2024).
AE Coin will be the first dirham-backed stablecoin in the UAE, offering users the agility of blockchain technology while being fully supported by the UAE dirham. This stablecoin aims to provide seamless and secure payment solutions, contributing to the growth of the UAE’s digital economy.
As the first digital currency regulated by the Central Bank, AE Coin is designed to maintain stability through transparent reserves and regular audits, addressing the volatility often seen in cryptocurrencies. It will also integrate with decentralized finance (DeFi) platforms, allowing users to lend, borrow, and earn interest directly without intermediaries. With advanced blockchain technology and multi-layer encryption, AE Coin ensures secure and transparent transactions, meeting high standards of security and compliance.
The roadmap for AE Coin includes secure payment solutions for e-commerce, a mobile wallet app for easy access, and partnerships with merchants to expand its usage in digital transactions.
Ramez Rafeek, General Manager of AED Stablecoin, stated, “We are excited to receive approval from the Central Bank to issue AE Coin. As the first regulated stablecoin, AE Coin aims to transform the digital currency landscape by providing financial freedom, stability, and enhanced security.”
AE Coin promises cost-effective financial services for both businesses and individuals, facilitating fast transactions under the strict regulation of the Central Bank. This positions AE Coin as a key player in the UAE’s transition to a more innovative digital economy.
The stablecoin will benefit companies by offering instant, stable payments to enhance cash flow management and reduce transaction costs. For individuals, AE Coin serves as a secure and user-friendly digital currency for everyday transactions. Additionally, it streamlines domestic transfers with lower costs compared to traditional banking.
Future plans include partnerships with financial institutions, payment gateways, and tech providers to boost adoption, as well as integration with decentralized applications (dApps) and listings on major cryptocurrency exchanges.
