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AE Coin Launch Imminent After Gaining CBUAE Approval

Pegged to the UAE Dirham, the UAE’s first stablecoin is set to revolutionize digital payments while offering secure, efficient transactions.

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ae coin launch imminent after gaining cbuae approval

AE Coin, the UAE’s first stablecoin, has officially received a license and go-ahead to launch from the Central Bank of the UAE (CBUAE). The news signals a major step in the region’s digital transformation and the UAE government’s vision for financial innovation.

Developed under the CBUAE’s digital payment token framework, AE Coin aims to reshape financial services with the promise of faster, secure and more cost-efficient transactions. The stablecoin is designed to merge traditional fiat currencies with the efficiency of blockchain, with each AE Coin pegged 1:1 with the UAE Dirham, ensuring stability and trust. Its goal goes beyond streamlining financial transactions to creating an inclusive financial ecosystem for both individuals and businesses.

With blockchain as its backbone, AE Coin offers transparency and efficiency without compromising reliability. Its potential spans various industries, from e-commerce to remittances and decentralized finance (DeFi). By empowering financial inclusion and fostering innovation, the coin’s creators hope it will become a key part of the UAE’s push for a future-ready digital economy.

Ramez Rafeek, General Manager of AE Coin, highlighted the transformative power of the project:

“AE Coin harnesses the speed and efficiency of blockchain technology […] simplifying transfers, making them faster and more seamless. In a rapidly evolving digital world, AE Coin sets a new standard for trust, security, and innovation in digital currency”.

Also Read: Jordan’s $45M Push To Boost E-Government & Digital Economy

AE Coin’s ongoing strategy includes forging partnerships with financial institutions, payment gateways, and tech firms to drive adoption rates. Future initiatives also aim to integrate AE Coin with decentralized applications, secure listings on prominent cryptocurrency exchanges, and continually enhance its cutting-edge technology.

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Max Fashion Brings AI Virtual Try-Ons To Gulf Online Shoppers

Landmark Group’s value fashion brand is using Google Cloud’s generative AI to tackle the returns problem that has dogged ecommerce since its beginning.

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max fashion brings ai virtual try-ons to gulf online shoppers

Buying clothes online has always involved a gamble. A garment that looks right on a model may hang differently on the person ordering it, and the result is a cycle of returns that costs retailers money and customers patience. Max Fashion, part of Dubai-based Landmark Group, is betting that generative AI can improve the experience.

The brand has launched what it describes as one of the region’s first virtual try-on experiences, built on Google Cloud’s Virtual Try-On API and generative AI vision models delivered through the Gemini Enterprise platform. Starting in the UAE, shoppers browsing Max’s digital platforms can see realistic previews of how garments drape, fit and move across different body types before committing to a purchase.

google cloud max fashion partnership

For many online shoppers, uncertainty is the single biggest barrier between scrolling and buying. “It helps address real purchase barriers, particularly around fit and confidence, while allowing us to create a richer and more engaging shopping journey,” explained Hani Weiss, chief executive officer of Max Fashion, who framed the rollout as part of the brand’s ambition to make fashion more accessible.

Bala Subramaniam, senior vice president and head of omnichannel at Max, seemed even more enthusiastic about the technology: “For the first time, a customer browsing on their phone has the same confidence as one standing in our fitting room”.

Also Read: Instagram Now Lets You Tune Its Algorithm, But There’s One Big Catch

Whether AI previews can genuinely match a fitting room remains to be proven at scale. The technology’s value will depend on how accurately it renders fabric and fit across the full range of bodies that shop at a value fashion brand, and on whether shoppers trust what they see enough to change their behavior.

For Google Cloud, the deployment is also a statement about where regional retail is heading. “AI-driven personalization is no longer a luxury, it is a core business imperative for forward-thinking retailers,” says Ziad Jammal, general manager for Google Cloud UAE, Levant and North Africa. If the returns data eventually backs that up, the rest of the region’s retailers will be watching closely.

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