The Abu Dhabi government, represented by the Tawasul Transportation Authority, accepts payments for AED Stablecoin using AE coins for taxi services.
The agreement was signed between the municipal and transport agency Integrated Transport Centre (ITC) and the Al Maryah Community Bank, known as MBANK.
According to a press release, Stablecoin Digital Payments offers a seamless, sustainable transportation experience while providing smart, secure payment tools. Live AE Coin payments for taxi services were performed using AEC wallets and AE Coins (AEC).
Ghena Jbour, general manager of Abu Dhabitawasl Transport, noted that this is part of the digital transformation effort in the transportation sector, simplifying the payment process by offering multiple payment options.
She said, “This is in line with Abu Dhabi’s vision of building a smart, sustainable transportation system. We will continue to strive to expand these solutions to cover additional services in the future.”
Mbank CEO Mohammed Wassim Khayata expressed his support and pride in the collaboration, saying that AE Coin Stablecoin will use blockchain technology to bring stability and compliance to consumer payments. He said:
“We provide our customers with future, cashless, safe and cost-effective ways to use public transport. This is a step towards realizing the UAE’s 2025 Digital Government Strategy.”
Khayata will continue to expand its adoption of AEC wallets across a variety of government and business sectors.
Ramez Rafeek, general manager of AE Coin Stablecoin, believes that digital currency can be easily integrated into everyday life.
AE coins accepted by Ai Air Arabia
UAE-based Air Aravia Airline has begun accepting AED Stablecoin and AE Coin for flight bookings and other payments. The airline is the first in MENA to offer Stablecoin-based payment options. Users can book flights using the AEC wallet application developed by Mbank.
AE Coin was the first AED Stablecoin licensed in the UAE.