AED Stablecoin LLC received approval from the UAE Central Bank to launch AE Coin, the first stablecoin backed by the UAE dirham, supporting the UAE Digital Government Strategy until 2025 💰

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AED Stablecoin LLC received preliminary approval from the Central Bank of the UAE to launch its currency AE Coin, supporting the UAE Digital Government Strategy until 2025.

The approval complies with the "Payment Token Services Regulation" dated June 7, 2024, making AED Stablecoin the first company to issue stablecoins backed by the UAE dirham.

AE Coin is backed by the dirham and offers stability, security, and efficiency in financial operations, simplifying payments and encouraging the growth of the UAE's digital economy. AED Stablecoin CEO Ramez Rafiq noted that AE Coin will be the first stable token regulated by the Central Bank, providing new opportunities for businesses and users in the country.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

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