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 to explore 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).
According to crypto data source CoinGecko, the stablecoin market is worth more than $260 billion (Dh954 billion) and may reach $2 trillion (Dh7.3 trillion) by 2028 under the new regulation. Experts told KT LUXE that it is a watershed moment that might pave the way for digital assets to become a common means to pay and move money.
Regulations provide important safeguards, with increased transparency being the most important factor in consumer protection. They instill confidence and inspire those who may have been hesitant to consider cryptocurrency as a viable solution for diversifying their wealth.
In December of last year, AE Coin received the last Central Bank of the UAE (CBUAE) licence required to launch. It was built on the CBUAE’s digital payment token services platform to provide a quick, secure, stable, innovative, low-cost, and efficient payment experience.
Also Read:
