Abu Dhabi Launches First Digital Payment System in Taxis Using AE Coin

In a significant development for digital payments and public transportation, Tawasul Transport and Al Maryah Community Bank (Mbank) have launched the first digital payment system in taxis using AE Coin. This initiative, coordinated with the Integrated Transport Center (ITC) of the Department of Municipalities and Transport, allows passengers to pay electronically via the AEC Wallet app using the stable digital currency AE Coin across all Tawasul taxis in the Emirate of Abu Dhabi.

This groundbreaking initiative is part of a broader effort to enhance digital payment solutions and develop a smart, secure, and seamless transportation experience. The launch of this system marks the first global adoption of a stablecoin pegged to the UAE dirham for public transport payments. The first official payment using AE Coin was made following a completed ride in one of Tawasul’s taxis, underscoring Abu Dhabi’s commitment to transitioning toward a digital and sustainable transportation system.

The AEC Wallet app offers a simple and secure payment experience, allowing users to complete transactions by scanning a QR code inside the vehicle. AE Coin is pegged at a fixed rate of 1 AED = 1 AEC, ensuring strong financial stability and building trust in digital currency usage. The app is available for free on the Apple Store, Google Play, and Huawei AppGallery, featuring an innovative user experience focused on 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. Passengers in Abu Dhabi can now benefit from an advanced digital payment experience that simplifies the payment process and provides multiple secure payment options. This move is in line with Abu Dhabi’s vision of building a smart and sustainable transport system.

Mr. Ghena Jbour, General Manager of Tawasul Transport, highlighted the significance of this collaboration, stating that it serves as a model of effective collaboration between entities striving for continuous development within the integrated transport ecosystem. He emphasized that digital transformation is a necessity to meet the evolving expectations and daily needs of users. The adoption of AE Coin in the public transport sector reflects Tawasul Transport’s commitment to supporting future-focused financial solutions that combine technology, convenience, and sustainability.

Mr. Mohammed Wassim Khayata, CEO of Mbank, 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 initiative introduces a transformative payment experience, offering customers a future-forward, cashless, secure, and cost-effective way to use public transport. It is a step forward in bringing the UAE’s Digital Government Strategy 2025 to life.

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.

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. This expansion will contribute to the broader adoption of digital payments and support the UAE’s vision of a cashless society.

The Integrated Transport Centre (ITC), affiliated with the Department of Municipalities and Transport, 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. The 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.

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. 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.