AE Coin, a stablecoin linked to the dirham, has gained final approval from the United Arab Emirates Central Bank.

AE Coin, based in the UAE, will soon be available through appointed agents.

The digital currency boasts backing entirely by reserves in the UAE and is pegged to the US dollar, ensuring price stability.

Stablecoins, like AE Coin, are cryptocurrencies linked to fiat currencies such as the US dollar.

They aim to mitigate volatility commonly seen in other cryptocurrencies.