Experts believe that US President Donald Trump’s recent signing of the Genius Act, which establishes a regulatory regime for dollar-pegged cryptocurrencies known as stablecoins, will not only give users confidence in exploring digital assets safely, but will also attract more users in the UAE, particularly newcomers, to crypto by making stablecoins safer and more mainstream for payments and decentralised finance (DeFi).
The stablecoin market, which CoinGecko estimates is worth more than $260 billion (Dh954 billion), may expand to $2 trillion (Dh7.3 trillion) by 2028 under the new rule. Experts told KT LUXE that it is a significant milestone that might pave the way for digital assets to become a common means to make payments and transfer money.
Regulations act as vital guardrails, with increased transparency playing a critical role in consumer protection. They instill confidence and encourage people who may have been hesitant to consider cryptocurrency as a legitimate option for diversifying their finances.
In December of last year, AE Coin obtained the final Central Bank of the UAE (CBUAE) license required to launch. It was created using the CBUAE’s digital payment token services platform to provide a fast, secure, stable, innovative, low-cost, and efficient payment experience.
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