UAE plans to launch digital dirham central bank digital currency in Q4 2025
From Cointelegraph
March 28, 2025 07:38 AM:
The United Arab Emirates plans to launch its digital dirham central bank digital currency in Q4 2025. The move aims to enhance financial stability and combat financial crime. The digital dirham will be accepted as a payment method across all channels. The currency received a rebrand, featuring an international symbol and stability-inspired design.
In June 2024, the CBUAE approved a framework for regulating stablecoins. Tether announced plans to launch a dirham-backed stablecoin with local partners. AED Stablecoin also received approval to issue a regulated dirham-pegged stablecoin. Tether’s dirham-pegged stablecoin will be launched on The Open Network blockchain.
In addition to dirham-backed stablecoins, USD and EUR stablecoins have gained popularity in the UAE. The Dubai Financial Services Authority recognized Circle’s USDC and EURC as the first stablecoins under its crypto token regime. Ripple is also exploring the country’s stablecoin requirements, with their RLUSD stablecoin available in the UAE.
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