AE Coin, a stablecoin pegged to the dirham, has received final approval from the UAE Central Bank.
AE Coin is based in the UAE and will soon be available through designated agents.
The digital currency is fully backed by the UAE’s reserves and pegged to the U.S. dollar, ensuring price stability.
Stablecoins, such as AE Coin, are cryptocurrencies pegged to fiat currencies such as the U.S. dollar.
They are designed to mitigate the volatility common in other cryptocurrencies.