EE Coin, the first stablecoin pegged to the UAE dirham and licensed by the Central Bank of the UAE, and USDU, a US dollar-backed stablecoin regulated by the Financial Services Regulatory Authority (FSRA) in Abu Dhabi Global Market (ADGM) and registered with the Central Bank of the UAE as a foreign payment token under the Payment Token Services Regulation (PTSR), have announced a strategic collaboration to develop a regulated digital framework for converting between the UAE dirham and the US dollar, with support from local Al Maryah Bank (Mbank).

This collaboration represents the first structured framework for digital conversion between UAE dirhams and US dollars within the UAE, enabling near-instantaneous conversions between US dollar and dirham-denominated payment tokens in an environment fully compliant with local regulatory frameworks. The framework is also designed to support virtual asset settlements, treasury operations, and liquidity management while ensuring full compliance with local regulations governing the payments sector.

The collaboration extends beyond simply converting digital tokens; it represents a strategic step towards developing an advanced infrastructure for financing digital trade based on US dollar-denominated stablecoins, leveraging the UAE's regulated digital asset ecosystem. Both parties intend to explore integration with fintech platforms specializing in cross-border trade finance, paving the way for multi-currency digital settlements and future applications in the international trade and finance sector.

The framework also includes practical use cases for individuals, where USDU holders will be able to convert to AE Coin and top up their AEC Wallet to conduct regulated local digital transactions within the UAE.

Initial access to USDU and AE Coin conversion services will be provided via the Changer platform (Changer.ae), the regulator for the custody of digital assets by the Financial Services Regulatory Authority, along with Aquanow, licensed by the Dubai Virtual Asset Regulatory Authority (VARA) as a brokerage and trading service provider, ensuring that operations are carried out within an integrated regulatory environment and in compliance with the regulations in force in the UAE.

Mr. Juha Vietalla, Chief Executive Officer of Universal Digital International Limited, said

“The future of digital finance in the UAE requires a secure and regulated bridge between local and global markets. As the first US dollar-denominated stablecoin registered under the Central Bank of the UAE’s Payment Currency Services Regulation Framework, USDU is well-positioned to offer high-level institutional settlement. Automating the conversion between USDU and eCoin reduces complexity and enables near-instantaneous value exchange, supported by regulated providers such as Changer and Aquanow .”

For his part, Mr. Mohammed Waseem Khayata, CEO of Al Maryah Local Bank, said:
"This collaboration reflects the UAE's vision of building a secure and efficient digital financial system based on innovation and regulatory compliance. By linking payment tokens denominated in UAE Dirhams and US Dollars within a regulated framework, we are establishing a scalable infrastructure for digital settlements, which supports the modernization of cross-border financial transaction flows."

Mr. Ramez Rafiq, General Manager of IED Stable Coin, added:
"This initiative enhances the UAE's position as a global hub for digital payment solutions innovation, and expands the practical uses of regulated payment tokens. This collaboration lays the foundation for future institutional integrations and new digital settlement applications, in line with the evolving regulatory frameworks in the country."

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