UAE gets its first AED stablecoin approved

UAE gets its first AED stablecoin approved

The first AED (UAE Dirham) stablecoin has been approved by the Central Bank of the UAE and is set to launch soon according to AE Coin’s X post. The AE Coin will be the first AED ( Dirham backed) stablecoin to be licensed in the UAE. While Tether who announced early on its intention to launch its AED stablecoin has not yet even received initial approval.

The AE Coin promises an instant, secure, stable, innovative, low-cost, and efficient payment experience that will reshape the future of the digital economy. A few months earlier the AE Coin had announced it received preliminary approval from the Central Bank.

AE Coin aims to empower individuals and businesses to access modern financial tools, fostering financial inclusion, and supporting innovation in industries such as e-commerce, remittances, and decentralized finance (DeFi).

Ramez Rafeek, General Manager of AED stablecoin, remarked, “AE Coin harnesses the speed and efficiency of blockchain technology, offering instant, secure, and cost-effective transactions. It simplifies transfers, making them faster and more seamless. In a rapidly evolving digital world, AE Coin sets a new standard for trust, security, and innovation in digital currency.”


According to Chainalysis, the stablecoin market in the UAE has grown significantly in 2024. Through the first half of the year, the value of stablecoins received by services (particularly CEX and DEX) in UAE totaled over US$9.8billion, a 55% spike over the US$6.3billion received over H1 2023.

Stablecoins now account for the largest share of crypto activity in the UAE (51%), which stands significantly higher than both Bitcoin (19%) and Ether (9%), which are typically considered to be the most recognized and popular cryptocurrencies.

Also Circle the issuer of the USDC stablecoin just announced the opening of its offices in ADGM and its partnership with Lu Lu Fin.

UAE Central Bank grants in principle approval to Telr payment

UAE Central Bank grants in principle approval to Telr payment

Telr, a payment gateway provider of payment gateway solutions provider has been granted in-principle approval for the Retail Payment Services & Card Schemes (RPSCS) License from the Central Bank of the United Arab Emirates (CBUAE). According to Telr blog this is a pivotal moment in Telr’s journey towards revolutionizing the digital payment landscape in UAE.

Khalil Alami, Founder & CEO of Telr, said: ‘I am thrilled to have achieved this historic milestone. This milestone is not just a reflection of Telr’s dedication but also of the dynamic and innovative spirit of the UAE’s fintech landscape. We are deeply honored by the UAE Central Bank’s trust, and we remain committed to pioneering digital payment solutions that elevate businesses and drive economic growth across the region.’ Alami added, ‘With great pride, we will continue empowering businesses on their journey to success while further cementing the UAE’s esteemed reputation as a leading payment hub in the region’.

Telr’s mission is to build connections that remove fragmentation in the e-commerce ecosystem, enabling customers to transition to cashless transactions and digitize the payment acceptance process. Telr has focused on empowering businesses to expand globally since 2014 through its one-stop-shop approach, offering a wide range of services for the e-commerce sector, including secure payment options, real-time monitoring, and specialized business solutions.

Telr has also introduced Telr Split Payments, a service that simplifies the reconciliation processes for UAE merchants. Additionally, Telr has launched Telr Finance to provide quick access to business capital.

Established in 2014, Telr, the UAE-based award-winning payment gateway solutions provider, offers a unique platform that enables payment handling in over 120 currencies and 30 languages in the UAE and KSA with the highest level of security. Through a single integration, Telr grants access to every payment method, including Visa, Mastercard, American Express, UnionPay, JCB, Apple Pay, PayPal, SADAD, Mada, STC Pay, and urpay.

Last month Telr announced its partnership with Fils, an ESG-focused digital infrastructure fintech which utilizes blockchain technology.