AED STABLECOIN LLC
Address: Office 101, 1st Floor, Das Tower,
Sultan Bin Zayed St., Khalidiya, Abu Dhabi, UAE
Introduction
AED Stablecoin LLC, ("we,"
"us," or "our") a company regulated by the Central Bank of
the United Arab Emirates (CBUAE), is authorized to issue a stablecoin known as
AE Coin. The company's operations are exclusively focused on minting AE Coin,
while the functions of custody, transfer, and conversion are managed by
appointed agents. In compliance with the CBUAE Payment Token Regulations, AED
Stablecoin LLC conducts business-to-business (B2B) activities only and
maintains no direct relationships with end customers, which are serviced
through its network of agents.
We value the privacy and security
of our institutional customers' information. This Privacy Policy explains how
we collect, use, store, and share data, ensuring compliance with the UAE
Personal Data Protection Law (PDPL) and the Central Bank of the UAE’s (CBUAE)
Consumer Protection Standards.
Our commitment extends to
protecting institutional customer data, including information related to banks
and other businesses acting as agents, as well as their interactions with our
services, including the issuance and management of AE Coin.
Scope of the Policy
This Privacy Policy applies to:
- Institutional customers, including banks and
businesses acting as agents in the issuance and management of AE Coin.
- All interactions related to the issuance,
management, and secure handling of AE Coin, ensuring compliance with
applicable regulatory and operational requirements.
Data We Collect
We collect and process the following categories of data:
a. Institutional Customer Data
- Business
Name, License Information, and Tax Identification Numbers.
- Authorized
Representative Details: Name, Contact Information, and Identification.
b. Transactional Data
- Details
of transactions involving AE Coin, including transaction IDs, amounts,
timestamps, and counterparties.
- Wallet
addresses associated with blockchain transactions.
c. KYC and AML Compliance Data
- Copies
of licenses, permits, and other documents verifying business legitimacy.
- Data
required for anti-money laundering (AML) checks, including ultimate
beneficial owner (UBO) details.
d. Technical and Usage Data
- System
logs, including access timestamps, device identifiers, and IP addresses.
- Metadata
related to interactions with the platform, including API usage for
institutional integrations.
e. Regulatory Compliance Data
- Records
maintained for reporting to the Central Bank of the UAE or other
authorities.
f. Communications Data
- Emails,
phone calls, or other communications with institutional customers for
service purposes.
Purpose of Data Collection and Use
We use the data collected for the following purposes:
a. Service Delivery
- Issuing
and managing AE Coin.
- Providing
and maintaining coin wallet services.
b. Compliance with Legal and Regulatory Obligations
- Conducting
mandatory KYC and AML checks.
- Retaining
and reporting data in compliance with the CBUAE regulations.
c. Operational and Security Enhancements
- Monitoring
platform performance and identifying potential risks or threats.
- Conducting
audits to ensure data integrity and operational resilience.
d. Relationship Management
- Maintaining
efficient communication with institutional customers and agents.
- Addressing
inquiries and resolving disputes.
e. Business Insights
- Analysing
data to improve the quality and range of our services.
Data Retention and Storage
Data is retained for as long as
necessary to fulfil regulatory obligations and operational purposes, in
alignment with the Central Bank of the UAE’s guidelines.
a. Retention Periods
- KYC and AML data: Retained for a minimum of 5
years after the termination of the relationship with an institutional
customer, in accordance with the Central Bank of the UAE's guidelines.
- Transactional data: Retained for a minimum of 7
years to meet regulatory requirements and facilitate audits.
- Communications data: Retained for 3 years,
unless required for ongoing investigations or legal obligations.
b. Data Storage
- All data is securely stored within the UAE, in
compliance with data residency requirements.
- Blockchain records are stored on a secure platform,
ensuring pseudonymization of personal identifiers.
Data Sharing
We may share data with:
a. Agents and Partners
- Institutional customers acting as agents, such as
banks, to enable the issuance and management of AE Coin.
b. Regulatory Authorities
- The
Central Bank of the UAE and other governmental bodies, as required by law.
c. Service Providers
- Technology and infrastructure providers for wallet
management, cybersecurity, and blockchain operations, with appropriate
contractual safeguards.
d. Legal and Audit Partners
- External auditors or legal advisors for dispute
resolution, compliance assessments, or other legitimate purposes.
Security Measures
We prioritize the protection of
institutional customer data and employ robust security practices to safeguard
it from unauthorized access, misuse, and breaches. Our approach includes
implementing comprehensive safeguards, regular evaluations, and adherence to
applicable data protection laws and industry standards.
Rights of Institutional Customers
AED Stablecoin LLC recognizes the following rights for
institutional customers:
- Access:
Right to request information about data collected and processed.
- Correction:
Right to correct inaccuracies in the data we hold.
- Restriction:
Right to request limited processing under specific circumstances.
- Objection:
Right to object to the processing of data for purposes not explicitly
consented to.
Blockchain Transactions
Blockchain technology ensures
secure and transparent recording of AE Coin transactions. While the ledger is
inherently transparent:
- No personal or institutional identifiers are
recorded on the blockchain.
- Any contextual data required for operational
purposes is stored securely within AED Stablecoin LLC’s internal systems,
ensuring compliance with UAE data protection regulations.
Updates to This Privacy Policy
We may update this Privacy Policy
periodically to reflect changes in laws, regulations, or business practices.
Institutional customers will be informed of significant updates through
official communications.
Contact Information
For questions or concerns regarding this Privacy Policy,
please contact us at:
- Email:
info@aecoin.com
- Phone:
(+971) 02-509-6006
- Address:
AED Stablecoin LLC, Office 101, 1st Floor, Das Tower, Sultan Bin Zayed
St., Khalidiya, Abu Dhabi, UAE.