UAE telco giant e& taps dirham stablecoin for bill payments pilot

UAE telecommunications group e& has announced a pilot program to utilize AE Coin, a Central Bank-licensed stablecoin, for telecom payments in collaboration with Al Maryah Community Bank. This initiative aims to integrate digital currency into everyday transactions, enhancing the payment landscape in the UAE.

Galaxy Digital has opened a new office in Abu Dhabi under the Abu Dhabi Global Market (ADGM), marking a significant step in its expansion strategy within the UAE's rapidly evolving digital asset landscape. This move is part of a broader initiative to enhance its presence in the Middle East as local regulators fast-track approvals for cryptocurrency exchanges and stablecoin issuers.

Irina Volk, spokesperson for Russia’s MVD, confirmed the deportation of the founder of the Finiko crypto pyramid scheme from the UAE to Russia, where he faces allegations of large-scale fraud. This transfer occurred at Dubai Airport, marking a significant step in the legal proceedings against him.

Galaxy, a digital assets company, is expanding its operations to the UAE as part of its strategic push into the Middle East, seeking regulatory approval from local authorities to enhance its service offerings in a rapidly evolving market.

Michael Saylor, founder of Strategy, delivered a keynote at the Bitcoin MENA 2025 conference in Abu Dhabi, asserting that Bitcoin will drive a digital credit revolution in the Middle East. He emphasized Bitcoin's potential to transform financial systems and proposed a Bitcoin-backed banking model for nation-states to enhance yield opportunities.

Galaxy Digital has opened a new office in Abu Dhabi, marking a significant step in its expansion strategy within the UAE, aimed at bolstering its presence in the rapidly evolving digital asset landscape. This move is part of a broader initiative to enhance service offerings and foster innovation in the region.

Tether and Circle have received significant regulatory approvals in Abu Dhabi, with Tether's stablecoin recognized as an Accepted Reference Token (ARFT) and Circle obtaining a Financial Services Provider (FSP) license. These developments mark a pivotal moment for the cryptocurrency sector in the UAE, reflecting the region's commitment to fostering a regulated digital asset environment.

Circle's stock has encountered a technical sell signal as indicated by the TD Sequential indicator, following a recent local bottom identified by analyst Ali Martinez. This development comes amidst a challenging cryptocurrency market environment, where major digital assets are experiencing declines.