#WIF #pnut $WIF $PNUT The UAE has officially announced that the โAE Coinโ has become an approved payment method for federal government fees, making it the first licensed stablecoin from the Central Bank of the UAE that can be used to pay for government services in the country.
Hereโs a simple explanation of what this decision means:
๐ง What does the adoption of AE Coin for government payments mean?
โ๏ธ Official payment method: Individuals and businesses can now pay government service fees via AE Coin instead of the traditional dirham.
โ๏ธ Licensed and regulated: AE Coin has obtained a license from the Central Bank of the UAE, which means it operates under clear financial and regulatory rules (not just โunregulated cryptoโ).
โ๏ธ Fully backed by the dirham: Every AE Coin is based on a 1:1 ratio with the UAE dirham, providing value stability and reducing the volatility of unsupported cryptocurrencies.
โ๏ธ Technology: Transactions are conducted via blockchain technology, making payments faster and more secure than traditional payment systems.
โ๏ธ Banking integration: Through the AEC Wallet provided by the banking infrastructure, users can easily make payments at any time.