Announcements from international cryptocurrency exchanges

UAE Central Bank Approves AED Stablecoin on October 14, 2024

Oct 15, 2024, 11:00 AM

On October 14, 2024, the Central Bank of the United Arab Emirates (CBUAE) granted in-principle approval for the AED Stablecoin under its Payment Token Service Regulation framework. This approval positions AED Stablecoin as the frontrunner for becoming the first regulated dirham-pegged stablecoin in the country. The AED Stablecoin will be fully backed by cash reserves and is expected to facilitate local trading pairs for cryptocurrencies on exchanges and decentralized platforms. This regulatory milestone marks a significant step in the UAE's progress towards integrating stablecoins into its financial ecosystem.