Telecom giant e& UAE has signed a memorandum of understanding (MoU) with Al Maryah Community Bank (Mbank) to explore the use of AE Coin, a dirham-backed stablecoin licensed by the Central Bank of the UAE (CBUAE), across selected e& payment channels.
This partnership marks one of the first large-scale efforts in the region to bring regulated stablecoin payments into mainstream consumer services.
Integration into e& Payment Channels
Under the agreement, e& UAE will test how AE Coin can be integrated into its existing payment infrastructure. The trial would allow customers to use the stablecoin for a wide range of transactions, including mobile and home-service bill payments, prepaid and postpaid recharges, operations across e& digital platforms, and interactions with the company’s smart self-service systems.
The companies noted that future phases could extend AE Coin’s usage to e-commerce touchpoints, introducing a blockchain-powered payment alternative for millions of users.
Industry Perspectives on the Initiative
e& Group CEO Hatem Dowidar stated that the initiative brings regulated digital finance closer to everyday life in the UAE. “With the Central Bank-licensed stablecoin, e& UAE is setting a new standard for regulated digital finance: instant settlement, complete transparency, and frictionless access,” he said.
Dowidar added that AE Coin integration will give customers “choice, trust, and speed” as secure digital payments become increasingly embedded in telecom services.
Mbank CEO Mohammed Wassim Khayata highlighted that the collaboration expands real-world applications for regulated virtual asset payments and could provide faster, more secure transaction options for a large consumer base.
Ramez Rafeek, General Manager of AED Stablecoin LLC, said AE Coin was designed to support instant and transparent digital payments within a regulated environment. He called the agreement with e& UAE a “significant milestone,” demonstrating how licensed stablecoins can be used for essential services.
Alignment with UAE's Digital Finance Goals
The initiative aligns with the UAE’s broader push to lead in digital finance and regulated virtual asset infrastructure, positioning AE Coin as a potential model for stablecoin adoption across major consumer sectors.