The Central Bank of the United Arab Emirates (CBUAE) has recently given in-principle approval for the issuance of a stablecoin pegged to the dirham (AED). 

This decision represents a significant step in the country’s journey towards the adoption of cryptocurrencies and could redefine the financial landscape of the United Arab Emirates. With this move, the CBUAE aims to leverage the potential of blockchain technology and strengthen its position as a financial leader in the Gulf region and globally.