In a landmark move towards digital transformation in the UAE, the Abu Dhabi government, through the Department of Municipalities and Transport, has begun accepting AED stablecoin payments via AE Coin for taxi services. This initiative, led by Tawasul Transport and facilitated by Al Maryah Community Bank (MBank), marks a major advancement in the use of blockchain technology for public services.
The agreement was formalized between the Integrated Transport Center (ITC) and MBank, enabling the use of the AEC Wallet to pay for taxi rides in AE Coin (AEC). A live demonstration of a stablecoin transaction was successfully conducted using the AEC Wallet.
Ghena Jbour, General Manager of Tawasul Transport, stated that the new payment method reflects Abu Dhabi’s commitment to a smart and sustainable transport system:
“This aligns with our vision for digital transformation and a more flexible, seamless transportation experience. We're simplifying the payment process by offering smart, secure options and plan to expand this across additional services.”
Mohammed Wassim Khayata, CEO of MBank, emphasized that stablecoins like AE Coin offer a secure, cashless, and compliant payment method, in line with the UAE’s Digital Government Strategy 2025:
“We’re proud to provide a future-focused way for residents and tourists to access transport and other services securely. AE Coin brings stability and user convenience through regulated blockchain technology.”
Ramez Rafeek, General Manager of AE Coin, echoed this sentiment, highlighting the stablecoin's real-world utility:
“Our goal is to integrate digital currencies into everyday life—and this is a strong step forward.”
In a further boost to AE Coin adoption, Air Arabia, the UAE-based low-cost airline, has become the first carrier in the MENA region to accept an AED stablecoin for flight bookings. Passengers can now pay for flights using the AEC Wallet app.
AE Coin holds the distinction of being the first licensed AED stablecoin in the UAE, underscoring the country’s leadership in regulated digital finance.
With government backing and a growing range of use cases—from taxis to air travel—AE Coin is establishing itself as the UAE’s flagship stablecoin, accelerating the nation's shift toward blockchain-based smart services. This marks a significant milestone in mainstream adoption of stablecoins across both public and private sectors in the Middle East.
June 2025, Cryptoniteuae