UAE Integrates National Stablecoin into Public Transportation

In a groundbreaking move, the United Arab Emirates (UAE) has become the first nation to integrate a national stablecoin into its public transportation system. This initiative, spearheaded by Tawasul Transport in collaboration with Al Maryah Community Bank and the Integrated Transport Center (ITC), allows passengers to pay for taxi rides using the AEC Wallet app. By scanning a QR code within the taxi, users can complete transactions swiftly, securely, and at a low cost, eliminating the need for cash or cards.

The AEC Wallet, now accessible on the Apple Store, Google Play, and Huawei AppGallery, supports stablecoin payments for daily transportation. This development aligns with Abu Dhabi’s broader strategy for smart mobility and fintech innovation. AE Coin, the stablecoin used, offers the advantages of blockchain technology—including speed, transparency, and minimal fees—without the price volatility typically associated with cryptocurrencies.

Officials have indicated that the use of AE Coin will soon extend beyond taxis to include retail, e-commerce, and other transportation services across the UAE. This expansion underscores the nation's commitment to financial innovation and digital transformation. A spokesperson for Tawasul emphasized that this initiative places the UAE at the forefront of real-world crypto integration, reinforcing its status as a global leader in crypto innovation and the digital economy.