UAE Central Bank Approves New Regulatory System for Stablecoin Licensing

The Central Bank of the United Arab Emirates (CBUAE) board has approved a new system for overseeing and licensing stablecoins. In a recent meeting in Abu Dhabi, the board discussed various projects under the government’s Financial Infrastructure Transformation (FIT) program. This initiative aims to enhance digital transactions, advance the digital economy, and foster innovation in the UAE. Sheikh Mansour bin Zayed Al Nahyan, the UAE Vice President and CBUAE Chairman, chaired the meeting. The attendees included Deputy Chairmen Abdulrahman Saleh Al Saleh and Jassem Mohammad Al Zaabi, CBUAE Governor Khaled Mohamed Balama, and other board members. During the meeting, the