Middle East & North Africa stablecoins
2 stablecoins active in Middle East & North Africa, across 2 currencies (TRY, USD).
Overview
The two stablecoins in this region are pegged to different currencies. TRYB tracks the Turkish lira and is issued by Bilira Kripto Varlık Alım Satım Platformu Anonim Şirketi, which trades as BiLira. AE Coin tracks the UAE dirham at 1 AEC to 1 AED and is issued by AED Stablecoin LLC in Abu Dhabi.
The two sit at opposite ends of disclosure. BiLira keeps an archive of dated reserve reports running from 2020 to 2026. AE Coin's website carries no reserve or attestation report.
Sources: BiLira reserve report index, AE Coin, CBUAE Register of Licensed Financial Institutions, August 2026
Market structure
TRYB is the region's documented coin. BiLira publishes its reserve reports through an indexed archive. The 2026 reports are independent auditor's reports signed by a named external firm, Corpus Denetim ve Yeminli Mali Müşavirlik AŞ. Each states both the TRYb issued and outstanding and the lira held at a stated date and time. At 17 August 2026, 12:00 GMT +3, the report gives 61,600,302 TRYb against TL 66,400,788.00.
AE Coin is the dirham coin. Its issuer holds the Central Bank of the UAE's licence for Dirham Payment Token Issuance, number 09.01.01.001.2024.01, the first entry under that activity in the central bank's register. Its website states the 1:1 dirham peg and publishes no reserve report. Two coins, two currencies, and two opposite ends of what a reader can actually check.
Sources: BiLira reserve report, 17 August 2026, BiLira reserve report index, CBUAE Register of Licensed Financial Institutions, August 2026, AE Coin
Regulation
The two regulators behind this region's stablecoins treat payment use differently.
The Central Bank of the UAE's Payment Token Services Regulation took effect on 31 August 2024. A Dirham payment token must be denominated only in dirhams, and a licensed issuer may issue Dirham payment tokens only to persons resident in the UAE. The regulation prohibits algorithmic stablecoins.
In Turkey, a central bank regulation in force since 30 April 2021 bars the use of crypto assets in payments, while Law 7518 of July 2024 puts crypto asset service providers under Capital Markets Board permission.
The lira currency page gives the detail for Turkey.
Sources: CBUAE Rulebook, Payment Token Services Regulation, Resmi Gazete, 2 July 2024 (Law 7518), Central Bank of the Republic of Turkiye, Regulation on the Disuse of Crypto Assets in Payments
Common questions
TRYB is the Turkish lira stablecoin covered here. It is issued by Bilira Kripto Varlık Alım Satım Platformu Anonim Şirketi, which trades as BiLira.
Two: TRYB, pegged to the Turkish lira, and AE Coin, pegged to the UAE dirham. TRYB publishes dated reserve reports, and AE Coin's website carries no reserve or attestation report.
BiLira's do, at a stated instant. Each 2026 report gives the TRYb issued and outstanding on the contracts its criteria list, alongside the lira held, at a named date and time. DIA reads supply from contract state on the chains it indexes, so the two figures can be set against each other at those instants.