UAE Builds Regulated Rails for Swapping Dirham and Dollar Stablecoins

• UAE is creating a regulated rail to convert dirham and dollar stablecoins in real time.
• AE Coin and USDU are the two licensed stablecoins powering the conversion framework.
• Al Maryah Community Bank will manage payments with access via Aquanow and Changer.ae.

The UAE is developing a regulated framework that allows near-instant conversion between a dirham stablecoin and a dollar stablecoin. The system targets institutional payments, treasury operations, and cross-border transactions.

According to the announcement, two regulated stablecoins sit at the centre of the framework. AE Coin is licensed by the UAE Central Bank and pegged to the dirham. USDU is regulated by Abu Dhabi Global Market’s Financial Services Regulatory Authority and backed by the US dollar. 

Al Maryah Community Bank will manage the payment infrastructure. Aquanow and Changer.ae, both regulated dig…

Read The Full Article UAE Builds Regulated Rails for Swapping Dirham and Dollar Stablecoins On Coin Edition.