UAE Central Bank approves in principle AED stablecoin license pegged to fiat currency

Odaily News The Central Bank of the United Arab Emirates (CBUAE) has approved in principle the AED stablecoin license, making the company the first fully regulated stablecoin issuer in the region pegged to the fiat currency dirham. This latest development falls under the CBUAE's newly established regulatory framework for payment token services and is in line with the UAE government's 2025 Digital Government Strategy. Recently, the central bank issued a licensing framework that prohibits the use of cryptocurrencies for payments unless it involves licensed tokens pegged to the dirham. (Cryptonews)