The United Arab Emirates (UAE) has granted AED Stablecoin LLC in-principle approval to launch AE Coin, the country’s regulated stablecoin. The stablecoin issuer aims to improve payments and transactions in the region.
The stablecoin will be pegged to the Dirham for security and a better experience for those in the Middle East. It also offers fast, low-cost transactions and is regulated by the Central Bank of the UAE.
The stablecoin aims to foster economic growth and innovation in the UAE by providing a secure and efficient digital currency. As designed, AE Coin can be used for multiple purposes, including payments between companies, individual transactions, and investments.
Ramez Rafeek, General Manager of AED Stablecoin, stated:
We are very pleased to have received the approval of the Central Bank of the UAE to begin issuing AE Coin, in line with the ‘Payment Token Services Regulation.’ As the first-ever stablecoin regulated by the Central Bank, AE Coin will revolutionize the digital currency landscape by offering users an unparalleled blend of financial freedom, unwavering stability, and top-tier security.
Ramez Rafeek
In addition to its DeFi initiatives, AE Coin is strategically positioning itself to collaborate with e-commerce platforms, mobile wallets, and merchant partnerships, aiming to streamline users’ everyday transactions.
AE Coin’s roadmap outlines the development of strategic alliances with financial institutions and payment gateways, a move that is set to facilitate crypto adoption throughout the UAE.
Plans are in progress for listing on major crypto exchanges, facilitating enhanced accessibility to the stablecoin. The emphasis on technological innovations encompasses the development of mobile wallet functionalities, enhancing AE Coin’s usability for users on the go and contributing to its overall ecosystem.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed