{"id":139709,"date":"2024-10-15T12:30:09","date_gmt":"2024-10-15T09:30:09","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=139709"},"modified":"2024-10-15T11:37:03","modified_gmt":"2024-10-15T08:37:03","slug":"uae-to-create-its-own-stablecoin-linked-to-the-dirham","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/uae-to-create-its-own-stablecoin-linked-to-the-dirham\/","title":{"rendered":"UAE to Create its Own Stablecoin Linked to the Dirham"},"content":{"rendered":"<p>According to a recent <a href=\"https:\/\/www.gulftoday.ae\/business\/2024\/10\/13\/aed-stablecoin-obtains-in-principal-approval-from-the-central-bank-of-the-uae\"><strong>announcement<\/strong><\/a>, the Central Bank of the UAE (CBUAE) has granted the issuer preliminary approval under its framework for the regulation of payment coin services.<\/p>\n<p>This development helps ease concerns about potential restrictions on crypto payments following the CBUAE&#8217;s introduction of its licensing framework, which prohibits crypto payments unless they involve licensed tokens linked to the dirham.<\/p>\n<p>If fully approved, &#8220;<em>AE Coin<\/em>&#8221; will serve as a local trading pair for cryptocurrencies across exchanges and decentralized platforms, while allowing merchants to accept it for goods and services.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/robert-kiyosaki-issues-another-major-warning-on-the-u-s-dollar-instability\/\" title=\"Robert Kiyosaki Issues Another Major Warning on the U.S. Dollar Instability\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/robert-kiyosaki-240x170.png\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Robert Kiyosaki Issues Another Major Warning on the U.S. Dollar Instability<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The central bank&#8217;s framework also excludes algorithmic stablecoins and privacy tokens, prioritizing fully-backed stablecoins. Issuers are required to fully back their tokens with cash in dirham-denominated escrow accounts at a UAE bank.<\/p>\n<p>Alternatively, issuers of stablecoins may hold at least 50% of the reserve assets as cash, with the remainder invested in UAE government bonds or CBUAE bonds maturing within six months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While Tether remains on the sidelines, AED Stablecoin LLD is positioning itself as a leading contender to issue the first regulated stablecoin pegged to the dirham in the United Arab Emirates.<\/p>\n","protected":false},"author":9,"featured_media":23752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[22,24],"tags":[],"class_list":["post-139709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","category-altcoins"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast 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