The framework will enable near-instant conversion between dirham- and dollar-denominated stablecoins under the United Arab Emirates’s regulated payment token system.
AE Coin and USD Universal are developing a regulated framework for converting between UAE dirham- and US dollar-denominated stablecoins, aiming to support institutional settlement and treasury operations in the United Arab Emirates.
The system, powered by Al Maryah Community Bank, is designed as a regulated conversion rail enabling near-instant exchange between the dirham-pegged AE Coin and the US dollar-backed USDU within the UAE’s payment token framework.
According to an announcement shared with Cointelegraph, the conversion mechanism is intended for liquidity management and cross-border payments. Initial access will be provided through Aquanow and Changer.ae, two regulated digital asset service providers operating in the UAE.
