Abu Dhabi Launches AE Coin for Taxi Payments, Enhancing Digital Mobility

Tawasul Transport and Al Maryah Community Bank have launched a pioneering digital payment system for taxis in Abu Dhabi, enabling passengers to pay using the AE Coin cryptocurrency. This initiative, in collaboration with the Integrated Transport Center (ITC) of the Department of Municipalities and Transport, marks a significant step towards enhancing digital payment solutions and developing a smart, secure, and seamless transportation experience. The AEC Wallet app, which facilitates these transactions, allows users to complete payments by scanning a QR code inside the vehicle. AE Coin is pegged at a fixed rate of 1 AED = 1 AEC, ensuring financial stability and building trust in digital currency usage.

The launch event featured the first official payment using AE Coin following a completed ride in one of Tawasul’s taxis, underscoring Abu Dhabi’s commitment to transitioning towards a digital and sustainable transportation system. The AEC Wallet app is available for free on the Apple Store, Google Play, and Huawei AppGallery, offering a user-friendly experience with fast transactions, robust security, and reduced transfer costs. This initiative aligns with Abu Dhabi’s ambitions for digital transformation and strengthens its position as a global hub for fintech and smart mobility.

Mr. Ghena Jbour, General Manager of Tawasul Transport, highlighted the significance of this collaboration, stating that it reinforces the UAE’s leading position in innovation and digital transformation in the transportation sector. He emphasized that digital transformation is essential to meet the evolving expectations and daily needs of users, contributing to enhancing the customer experience by simplifying the payment process and providing multiple secure payment options. This step is in line with Abu Dhabi’s vision of building a smart and sustainable transport system, reflecting the company’s commitment to supporting future-focused financial solutions that combine technology, convenience, and sustainability.

Mr. Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, expressed pride in being part of this innovative collaboration, which aligns with the bank’s vision of driving the future of digital payments in the UAE. He noted that AE Coin is a key pillar of the UAE’s emerging financial infrastructure, bringing stability and compliance into real-time consumer payments through blockchain. This transformative payment experience offers customers a future-forward, cashless, secure, and cost-effective way to use public transport, bringing the UAE’s Digital Government Strategy 2025 to life. Mbank is focused on forging future partnerships with businesses and government entities to expand the adoption of AEC Wallet across various sectors, revolutionizing digital payments for both consumers and businesses in the UAE.

Ramez Rafeek, General Manager of AED Stablecoin, commented that the collaboration with Tawasul Transport marks a pivotal moment for AE Coin and AEC Wallet. By offering passengers a secure and seamless payment option in all Tawasul taxis, the partnership demonstrates how digital currencies can integrate effortlessly into everyday life. This initiative exemplifies the power of innovation and cooperation in driving the future of digital payments, positioning AE Coin at the forefront of this transformation. The AEC Wallet app will soon be accepted across more transportation services, merchants, and retail outlets across the UAE, further enhancing the customer experience and offering more opportunities to use AE Coin in everyday transactions.

The Integrated Transport Centre (ITC) is the legislative, regulatory, and supervisory authority responsible for managing and developing the transport sector in the Emirate of Abu Dhabi. It formulates policies and frameworks aimed at establishing a smart, safe, and integrated mobility system that supports the Emirate’s aspiration to be among the most advanced cities in the world. ITC oversees all land, maritime, and aviation transport activities across the Emirate, ensuring the integration and advancement of the mobility system in line with urban expansion and population growth. It also strives to harness the latest technologies, innovation, and sustainability tools to meet future mobility demands, enhance quality of life, and redefine urban living standards by embedding advanced solutions and promoting sustainable mobility practices.

Tawasul Transport Company, established in 2007, is a leading provider of taxi services in the Emirate of Abu Dhabi. With a fleet known for its high quality, safety, and comfort, Tawasul Transport has become a trusted provider of public transport services, committed to ensuring customer satisfaction. As part of its commitment to innovation and shaping the future of transportation, Tawasul Transport is currently operating autonomous vehicles in support of smart and sustainable mobility initiatives. This strengthens its position as a pioneering company in adopting future-ready solutions for modern transport systems. The company operates 24/7 throughout the year, in alignment with the goals of the Integrated Transport Center (ITC), the official authority responsible for regulating and managing public transport services in the Emirate. Tawasul actively contributes to realizing Abu Dhabi’s vision of building a smart, safe, and sustainable transport ecosystem that meets community needs and keeps pace with future aspirations.

Al Maryah Community Bank (Mbank) is the first fully integrated digital bank in the UAE, providing an omnichannel experience for both individual consumers and small businesses. The bank is highly specialized, focusing on growth and serving the UAE community, which includes UAE Nationals, residents, and businesses (both SMEs and corporates). The bank’s vision aligns with that of the UAE’s leaders, who are committed to supporting individuals and small businesses within the UAE economy and fostering a forward-thinking culture that emphasizes innovation and technology.

AE Coin is a next-generation stable digital currency regulated by the Central Bank of the UAE, offering secure, transparent, and efficient financial services. With a focus on local payments, decentralized finance, and innovative rewards systems, AE Coin is redefining the way users interact with digital money. Headquartered in Abu Dhabi, AE Coin leads the region in digital finance innovation.