The Central Bank of the United Arab Emirates (CBUAE) has approved AED Stablecoin in principle under its Payment Token Services Regulatory Framework. AED Stablecoin's initial licensing approval makes it the frontrunner for the UAE's first regulated dirham-pegged stablecoin issuer. If fully approved, AED Stablecoin's AE Coin could serve as a native trading pair for cryptocurrencies on exchanges and decentralized platforms, while allowing merchants to accept it to pay for goods and services.