Cointelegraph reported that the establishment of a regulatory framework for the exchange of Dirham stablecoins and Dollar stablecoins is being discussed in the United Arab Emirates (UAE). The target stablecoins are AE Coin and USDU. AE Coin is a Dirham-based stablecoin holding a license from the UAE Central Bank, while USDU is a Dollar-based stablecoin that complies with the regulations of the Abu Dhabi Global Market Financial Services Regulatory Authority. The payment infrastructure is handled by Al Maryah Community Bank and is designed for institutional payments, fund management, and cross-border remittances. In the future, there are plans to expand its use to trade finance, multi-currency payments, and more.
