AE coin
AE Coin is backed by the UAE Dirham. It is having regular money in a digital form and regulated by the Central Bank(CBUAE). It’s all about giving users the best safety of government backed currency and the fast, low cost features of blockchain technology. You can also use it for simple payments or even advanced DeFi (decentralized finance) activities, like borrowing or lending. While AED Stablecoin is leading the charge, Tether, known for USDT, has also expressed interest in launching a dirham-pegged stablecoin in collaboration with Phoenix Group.
AED Stablecoin License
The UAE Central Bank will license AED Stablecoin to issue the country’s first dirham-backed stablecoin under the ‘Payment Token Services Regulation’ (Circular No. 2/2024)
As a fiat-backed stablecoin, each AE Coin fully supported by the UAE dirham, ensuring users benefit from both blockchain’s agility and the reliability of traditional currency. It is expected to enable seamless, secure payment solutions while contributing to the UAE’s rapidly expanding digital economy.
Backed by the UAE Dirham, AE Coin maintains stability and security through transparent reserves and regular audits, mitigating the volatility commonly associated with cryptocurrencies. It also integrates with decentralized finance platforms, enabling users to engage in lending, borrowing, and earning interest without intermediaries. It state-of-the-art blockchain technology with multi-layer encryption, ensures that all transactions are secure, transparent and adheres to the highest standards of security and compliance, assuring users of its credibility in the digital financial ecosystem.
AE Coin’s roadmap includes enabling secure payments across e-commerce platforms, introducing a mobile wallet app for easy access on the go and expanding use cases by partnering with merchants for digital currency transactions. It merges stability and security, making it an ideal solution for various use cases – companies in the UAE. It also also help individuals seeking a secure, easy-to-use digital currency for daily transactions. In addition, AE Coin facilitates faster, more efficient transactions, simplifying domestic transfers with lower costs than traditional banking.
AE Coin’s had partnerships with leading financial institutions, payment gateways, and technology providers to accelerate adoption. Future goals include integrating with decentralized applications (dApps) and listings on major cryptocurrency exchanges.