Cointelegraph reported that the United Arab Emirates (UAE) is discussing the establishment of a regulatory framework for the exchange of Dirham stablecoins and Dollar stablecoins. The stablecoins in question 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 complying with the regulations of the Abu Dhabi Global Market Financial Services Regulatory Authority. Al Maryah Community Bank will handle the payment infrastructure, which is designed for institutional payments, fund management, and cross-border remittances. There are plans to expand its scope of use to trade finance and multi-currency payments in the future.
