Why BackD's stablecoins?

Non-USD backed, Non-USD pegged, Backed by BRICS currencies, Built for the multipolar world.
At BackD, we’re de-dollarizing the stablecoin industry and empowering emerging economies by

Empowering Financial Inclusion & Access

Boosting Liquidity &
Market Integration

Reducing USD
Exposure & Capital Flight

Enabling Efficient
Transactions

Broadens access to digital assets & decentralized finance, enabling secure transactions for underserved communities.

Enhance liquidity of local currencies in the global investments & forex markets, driving trade, investment, and economic growth.

Lowers reliance on the USD & US monetary policies, reducing volatility, capital flight & depreciation, and fostering economic stability and sovereignty.

Enables a seamless, low-cost, and real-time alternative to traditional cross-border remittance & domestic payment systems.

Meet AEDD

Arab Emirates Dirham (AED)

backed Payment Token.

Embrace the robust stability and rapid growth of the United Arab Emirates economy with AEDD, our AED-backed stablecoin. AEDD offers a stable, reliable, and efficient medium of exchange in the digital asset space, meticulously backed 1:1 by AED reserves and high-quality liquid assets held within regulated UAE banks.

Developed in conformity with the "Payment Token Services Regulation" issued by the CBUAE and aligned with the forthcoming Fiat-Referenced Token framework by ADGM, AEDD is committed to full compliance with both regulatory bodies.

Are you an Exchange, Payment Gateway, Defi Platform or a Buisness looking to level up your digital asset services?

Integrate AEDD into your workflow to offer your users a fast, secure, and stable digital currency option.

Talk to Us

Meet Our Team

At BackD, our team is a dynamic group of innovators and experts from across the BRICS nations, united by a shared vision to redefine the global financial ecosystem. Together, we strive to create secure, efficient, and accessible financial solutions that empower communities and promote a truly multipolar world.

Suraj Chawla

Founder

Physicist researcher turned Serial Entrepreneur 3x. He is also a

Gold medalist, Innovation by former Indian President APJ Abdul Kalam

Mudit Marda

CEO

Mudit is 2x Web3 Founder, Blockchain Technology Specialist, Digital Assets Exponents, CS graduate from BITS Pilani

FAQs

What are stablecoins and their different types?

A stablecoin is a digital asset or a cryptocurrency token that is a fungible unit of financial value pegged to a currency, some other asset, or index. It can be traded directly between parties and converted to other currencies or the pegged asset. Stablecoins are designed to maintain a stable value against the asset they are pegged to. However, various design and implementation choices can be made to achieve this end goal of mirroring the financial value of the underpinning asset. They are broadly classified as Collateralised and Algorithmic based on how they are designed and operated to maintain their price stability.
How are BackD's stablecoins different?

Unlike most stablecoins, BackD's stablecoins are not USD-pegged or USD-backed. They are backed by BRICS currencies, aiming to empower emerging economies and contribute to a more diversified and resilient global financial system.
What is BRICS?

BRICS is an intergovernmental organization comprising Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates. Established in 2009, BRICS (formerly BRIC) was founded by Brazil, Russia, India, and China on the premise that international institutions were overly dominated by Western powers and had ceased to serve developing countries. The bloc has sought to coordinate its members’ economic and diplomatic policies, found new financial institutions, and reduce dependence on the U.S. dollar. In the last two decades thereafter, the BRICS group has become a major political force, surpassing the total GDP of G7 nations.
What is AEDD?

AEDD is a United Arab Emirate AED-backed stablecoin. AEDD offers a stable, reliable, and efficient medium of exchange in the digital asset space, meticulously backed 1:1 by AED reserves and high-quality liquid assets held within regulated UAE banks. Developed in conformity with the "Payment Token Services Regulation" issued by the Central Bank of the UAE (Circular 2/2024 dated June 25, 2024) and aligned with the forthcoming Fiat-Referenced Token framework by Abu Dhabi Global Market (Consultation Paper No. 7 of 2024), AEDD is committed to full compliance with both regulatory bodies to ensure transparent, secure, and reliable digital payment token services.
How do you guarantee the price of AEDD? How will the Proof of Reserves be maintained?

AEDD is meticulously backed 1:1 by AED reserves and high-quality liquid assets held in the safe custody of independent, regulated, and auditable banks in the UAE. Proof of Reserves through regular audits and attestation of the reserves by a top accounting firm shall reinforce transparency and trust among users and stakeholders.
Which other stablecoins will be issued by BackD?

BackD will issue stablecoins backed by all BRICS nation currencies, starting with the AED (UAE), and followed by INR (India) and RUB (Russia). Others will follow thereafter.