{"id":96822,"date":"2024-10-15T00:00:00","date_gmt":"2024-10-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/aed-pegged-stablecoin-is-one-step-closer-to-becoming-real\/"},"modified":"2024-10-15T00:00:00","modified_gmt":"2024-10-15T00:00:00","slug":"aed-pegged-stablecoin-is-one-step-closer-to-becoming-real","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/10\/15\/aed-pegged-stablecoin-is-one-step-closer-to-becoming-real\/","title":{"rendered":"AED-pegged stablecoin is one step closer to becoming real"},"content":{"rendered":"

The Central Bank of the UAE (CBUAE) has given in-principle approval to <\/strong>AED Stablecoin\u2019s AE Coin<\/strong>, putting it on track to become the country\u2019s first regulated stablecoin if it earns final approval, according to a press release<\/a>. The blockchain-securitized AE Coin could be used as a payment solution by both individuals and institutions, AED Stablecoin said. <\/p>\n

Uh, Enterprise, what is a stablecoin? <\/strong>Stablecoins are digital tokens pegged to the value of fiat currencies like the USD. They can be used for both payments and crypto trading.<\/p>\n

AE Coin in detail:<\/strong> It is pegged to fiat currency and backed by reserves and regular audits, aiming to reduce the volatility of traditional cryptocurrencies. AED Stablecoin says it\u2019s looking to integrate its AE Coin into e-commerce payment platforms and mobile wallets, among other applications. <\/p>\n

Other issuers are waiting in the queue: <\/strong>Currently pending regulatory review and approval, ADX-listed crypto miner Phoenix Group and cryptocurrency giant Tether plan to launch an AED-pegged stablecoin<\/a> fully backed by liquid UAE-based reserves and accessible globally.<\/p>\n

REMEMBER- <\/strong>The Abu Dhabi Global Market published draft regulations to allow the issuance of stablecoins after the Dubai Financial Services Authority brought out more permissive regulations<\/a>. The Central Bank of the UAE\u2019s board also greenlit the introduction of a licensing and regulatory system for stable cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":"

The firm plans to integrate the AE Coin into e-commerce platform payments<\/p>\n","protected":false},"author":1,"featured_media":96823,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1558],"tags":[1906,476,107,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-96822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-aed-stablecoin","tag-cbuae","tag-crypto","tag-enterpriseam-uae","wpautop","entry"],"acf":{"mongo_id":"f737df16-f75e-4e8a-ae5f-4fa069d5cccb","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/679.jpg","photo_position":"above","homepage_title":"","full_issue_title":"AED-pegged stablecoin is one step closer to becoming real after CBUAE gives in-principle approval","related_issue":[96808],"teaser":"The firm plans to integrate the AE Coin into e-commerce platform payments","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.cc4ba09a-b66b-4c49-8671-44f5fa799abd.mp3"},"yoast_head":"\nAED-pegged stablecoin is one step closer to becoming real - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/10\/15\/aed-pegged-stablecoin-is-one-step-closer-to-becoming-real\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AED-pegged stablecoin is one step closer to becoming real\" \/>\n<meta property=\"og:description\" content=\"The firm plans to integrate the AE Coin into e-commerce platform payments\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/10\/15\/aed-pegged-stablecoin-is-one-step-closer-to-becoming-real\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-15T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/679.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/10\/15\/aed-pegged-stablecoin-is-one-step-closer-to-becoming-real\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/10\/15\/aed-pegged-stablecoin-is-one-step-closer-to-becoming-real\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"AED-pegged stablecoin is one step closer to becoming real\",\"datePublished\":\"2024-10-15T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/10\/15\/aed-pegged-stablecoin-is-one-step-closer-to-becoming-real\/\"},\"wordCount\":227,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/10\/15\/aed-pegged-stablecoin-is-one-step-closer-to-becoming-real\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/679.jpg?fit=%2C&ssl=1\",\"keywords\":[\"AED Stablecoin\",\"CBUAE\",\"CRYPTO\",\"EnterpriseAM UAE\"],\"articleSection\":[\"CRYPTO\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/10\/15\/aed-pegged-stablecoin-is-one-step-closer-to-becoming-real\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/10\/15\/aed-pegged-stablecoin-is-one-step-closer-to-becoming-real\/\",\"name\":\"AED-pegged stablecoin is one step closer to becoming real - 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