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UAE Central Bank approves AE Coin, a stablecoin pegged to the dirham

The Central Bank of the United Arab Emirates (CBUAE) has provisionally approved the AED Stablecoin based on its regulatory framework for payment token services. The preliminary approval of the AED Stablecoin makes it the frontrunner as the first regulated issuer of a dirham-pegged stablecoin in the UAE. If fully approved, the AE Coin of the AED Stablecoin can be used as a local trading pair for cryptocurrencies on exchanges and decentralized platforms, as well as allowing merchants to accept it as payment for goods and services.

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