PANews reported on October 15 that according to Cointelegraph, the Central Bank of the United Arab Emirates (CBUAE) has approved in principle the UAE stablecoin issuer AED Stablecoin in accordance with the (Payment Token Services Regulatory Framework). AED Stablecoin has obtained preliminary license approval, making it the first in the UAE to issue a regulated stablecoin pegged to the dirham. If AED Stablecoin's AE Coin is eventually fully approved, it will be used as a local trading pair for cryptocurrencies on exchanges and decentralized platforms, and merchants will also be able to accept it as a payment method for goods and services.