AE Coin Adopted by UAE Taxis, Expanding Blockchain Payments

AE Coin, a Dirham-backed stablecoin, has been integrated into the payment systems of taxis in the UAE, marking a significant advancement in the country's efforts to incorporate blockchain-based payments into everyday transactions. This initiative is part of Abu Dhabi’s smart city project, which has seen the Integrated Transport Center collaborate with Al Maryah Community Bank (MBank) to facilitate AE Coin payments in taxis. AE Coin is designed to offer price stability, rapid settlement, and minimal transaction costs, making it an ideal choice for daily digital transactions. The stablecoin received its final license from the Central Bank of the UAE in December 2024, officially recognizing it as a regulated digital payment solution.

Ghena Jbour, the General Manager of Tawasul Transport, highlighted that this integration supports Abu Dhabi’s broader vision of developing a smart and sustainable transportation system, providing passengers with more flexible payment options. Mohammed Wassim Khayata, CEO of MBank, noted that the adoption of AE Coin in transportation aligns with the UAE’s Digital Government Strategy 2025, which aims to accelerate digital adoption across both public and private sectors.

Beyond taxis, AE Coin has also been adopted by Air Arabia for flight bookings, further expanding its real-world utility. This move underscores the growing acceptance of stablecoins in the UAE, signaling a broader shift toward crypto-inclusive commerce. The MENA region, which includes the UAE, recorded significant crypto transaction volume between July 2023 and June 2024, with the UAE ranking third in the region for transaction volume and adoption rate. Ramez Rafeek, General Manager of AE Coin, emphasized that stablecoins like AE Coin demonstrate the seamless integration of crypto into daily services across transportation and travel.

With regulated stablecoins entering public services, the UAE is advancing its vision of becoming a global hub for digital innovation. The adoption of AE Coin in taxis and airlines is not just a technological upgrade but a strategic step toward a blockchain-enabled economy. The future of everyday crypto payments is already unfolding in the UAE, as the country continues to lead the way in digital payment innovation.