Joanna Swain جوانا سوين’s Post

UAE Stablecoin Usage Up 55% YoY as New Regulations Drive Market Momentum “Stablecoins have already done impressively well through the first half of the year. And with the Central Bank of the UAE (CBUAE) releasing its Payment Token Services Regulation, which clarifies the rules for issuing, custodying and converting payment tokens in UAE, this would potentially pave the way for broader participation and innovation,” said Arushi Goel, Head of Middle East & Africa Policy at Chainalysis.  https://lnkd.in/eh2W7P3K Lynda Knight Julia André Madeleine Kennedy Natalia Burbano Maria Carla Dobronauteanu Natasha Bhargava Angel Gonzalez Ian Andrews Evan Jacobs #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

With the UAE Central Bank's approval of the AED Stablecoin, should payment service providers (PSPs) be asking: Is this the beginning of their disruption? Stablecoins bring speed, lower costs, and transparency to both domestic and cross-border payments. If merchants can easily accept these regulated digital currencies, will PSPs still be needed? Or will they become obsolete? 🤔 Tagging a few people who might have some comments.... Tobie Van Der Spuy, Anton Coertzen, Paul Mitchell, Aeryn Quarmby, Sean Emery, Danielle du Toit, Esti Louw, Mpho Sadiki, Colin Marnewecke 🇿🇦, Marcel van Oost, David Birch, Brett King, Brendon Williamson, Paul Harris #fintech #stablecoins #payments https://lnkd.in/e_aSgjbU

The Central Bank of The UAE (CBUAE) board recently approved a new system for overseeing and licensing stablecoins. This move aims to enhance digital transactions, advance the digital economy, and foster innovation in the UAE. It marks a significant step in the country’s efforts to establish itself as a leader in stablecoins. In a recent podcast interview with Cheque Point by Finance Middle East, Arushi Goel, Policy Lead for MEA at Chainalysis, discussed the Central Bank of the UAE’s latest regulations on Payment Token Services. The podcast highlighted the progress made by UAE regulators in defining and implementing stablecoin regulatory schemes. Interview by Nivetha Dayanand Follow the link for more details: https://lnkd.in/dyZvrXaX

Big News: Central Bank of UAE 🇦🇪 Approves the First-Ever Regulated Dirham (AED) Stablecoin! The UAE continues to set the pace in the crypto industry, and this latest move is nothing short of a game-changer. Here's why: 1️⃣ Regulated AED stablecoins are now officially recognized, offering businesses and individuals a secure, reliable digital currency. 2️⃣ Central Bank-approved AED stablecoins are pegged 1:1 to fiat and backed by transparent reserves with regular audits, creating trust and security in the market. 3️⃣ This approval opens doors for instant, low-cost transactions across the UAE's growing digital economy. It’s the future of payments in the region. 4️⃣ Tether, the largest stablecoin issuer, is now seeking approval for its Dirham-pegged stablecoin from the UAE Central Bank. What does this mean? A wave of stablecoin adoption is about to hit the UAE, benefiting exchanges, merchants, investors, market makers, traders, and retail alike! 🚀 While the UAE is paving the way for crypto innovation, countries like Switzerland 🇨🇭 are stifling growth with tough regulations like requiring a banking license or bank guarantee just to issue a stablecoin. Meanwhile, the UAE is opening doors for new projects and leading the charge in global crypto adoption. UAE is ready to lead the global crypto space. 🌍 I'm incredibly bullish on the UAE and can't wait to see more Dirham-backed stablecoins hitting the market! Want to be part of the next wave of crypto innovation? Come to UAE, Habibi! Let me know your thoughts on this breakthrough in the comments below! 👇

A new system for overseeing and licensing stablecoins has recently been approved by the Central Bank of The UAE (CBUAE).It aims to improve digital transactions, advance the digital economy, and foster innovation in the UAE.The move marks a significant step forward in the country's efforts to become a stablecoin leader. #uae #digital #crypto #currency #stablecoin #banks #innovation #future

Discover the divergent paths of Bahrain and Saudi Arabia in adopting Central Bank Digital Currencies (CBDCs). From Bahrain's proactive embrace of digital transformation to Saudi Arabia's cautious approach leveraging advanced payment infrastructure, explore contrasting strategies shaping the future of finance. Yazeed Al-Nafjan, CFA Khalid Humaidan Joumanna Bercetche Jihad Azour #CBDC #DigitalTransformation #Bahrain #SaudiArabia #Finance #mbridge #blockchain Bank for International Settlements – BIS https://lnkd.in/dmtPm_GW

UAE Embraces Stablecoin Surge: Ripples Role CBUAEs Regulations #cryptonews - The global stablecoin market is expected to reach $3 trillion in the next five years, driven by evolving regulations and innovations. The United Arab Emirates (UAE) has taken a lead role by introducing a regulatory framework for both Dirham-backed and non-Dirham-backed stablecoins, positioning itself as a leader in the digital economy. The Central Bank of […] https://lnkd.in/dAjtig4P

The Central Bank of the United Arab Emirates (CBUAE) has granted in-principle approval to AED Stablecoin under its Payment Token Service Regulation framework, the company said in a press release. 🏦 💡 🎉 AED Stablecoin’s preliminary license approval makes it a frontrunner in the race to become the first issuer of a regulated dirham-pegged #stablecoin in the #UAE. The development eases concerns about potential restrictions on #crypto payments, which had arisen following the CBUAE’s recent release of its licensing framework, which prohibits crypto for payments unless it involves licensed #dirham-pegged #tokens. If fully approved, AED Stablecoin’s AE Coin could serve as a local trading pair for #cryptocurrencies in exchanges and decentralized platforms, while allowing merchants to accept it for goods and services. The issuer notes that AE Coin will be fully backed by transparent and regularly audited fiat currency reserves. It combines the best of both worlds—the stability of fiat currency with the agility of blockchain technology, said AED Stablecoin. Ramez Rafeek, General Manager of AED Stablecoin, stated: “We are very pleased to have received the approval of the Central Bank of the UAE to begin issuing AE Coin, in line with the ‘Payment Token Services Regulation.’ As the first-ever stablecoin regulated by the Central Bank, AE Coin will revolutionize the digital currency landscape by offering users an unparalleled blend of financial freedom, unwavering stability, and top-tier security.” Meanwhile, the UAE’s crypto-friendly regulatory environment has been attracting major players.  OKX recently launched a retail and institutional trading platform in the UAE after obtaining a full license, which includes derivatives trading for qualified institutional investors.  Additionally, crypto exchange M2 has opened a new system that allows residents to directly convert #dirhams into #Bitcoin (#BTC) and #Ether (#ETH). More details in the Cointelegraph article by Yohan Yun. #AltBanking The leading aggregator, bringing the best actionable news, information and opportunities in this rapidly evolving ecosystem right to you. Share and Follow us to stay up-to-date! #finance #fintech #RWA #banking #innovation #digitalassets #Web3 #investment #tokenisation #DeFi #TradFi #digitalfinance #blockchain #tokenization https://lnkd.in/eTtC3E-d

The United Arab Emirates (#UAE) has granted AED #Stablecoin LLC in-principle approval to launch AE Coin, the country’s regulated stablecoin. The stablecoin issuer aims to improve payments and transactions in the region. The stablecoin will be pegged to the Dirham for security and a better experience for those in the Middle East. It also offers fast, low-cost transactions and is regulated by the Central Bank of the UAE. The stablecoin aims to foster economic growth and innovation in the UAE by providing a secure and efficient digital currency. As designed, AE Coin can be used for multiple purposes, including payments between companies, individual transactions, and investments. #열일하는정교수 #로펌정세자문위원 #자금세탁1타강사 (*주요 수임 업무: AML컨설팅, AML독립적감사, 외국환거래)

Stablecoins as a more reliable alternative to complete decentralisation. Stablecoins are a hybrid variety of crypto assets. Although they follow decentralised networks, they’re still linked to some sort of stable currency or a fiat currency like the US dollar, the UK pound, or the Euro. These are fiat collaterised stable coins. Price stability can be achieved through either the use of reserve assets (collateralisation), or algorithms that dynamically balance supply and demand (typical of algorithmic stablecoins).  Looking ahead, stablecoins hold the potential to drive innovation across diverse domains: More inclusive payment and financial systems: By facilitating faster, cheaper payments, stablecoins can reduce barriers, especially for cross-border transfers. The Central Bank of the United Arab Emirates (CBUAE) has granted in-principle approval to AED Stablecoin under its Payment Token Service Regulation framework, the company said in a news release.