e& UAE has signed a memorandum of understanding with Al Maryah Community Bank (Mbank) to integrate AE Coin, the UAE’s first centrally licensed dirham-backed stablecoin, into its payment infrastructure. The move will allow customers to pay for mobile and home services, top up prepaid and postpaid accounts, and access digital services using a regulated blockchain-based payment method.
Under the agreement, AE Coin will be incorporated into e& UAE’s core business processes, including bill payments, account recharges, and transactions across e& digital platforms and self-service channels. The integration is expected to support instant settlement, enhanced transparency, and secure transactions through a central bank–licensed stablecoin framework.
AE Coin is fully backed by UAE dirham reserves and licensed by the Central Bank of the UAE, positioning it as a compliant digital payment option for mass-market use. The initiative marks one of the first large-scale applications of a regulated stablecoin within the telecom sector.
e& Group CEO Hatem Dowidar said the use of a licensed stablecoin introduces a new benchmark for digital payments by improving speed, reliability, and customer convenience. Mbank CEO Mohammed Wassim Khayata described the partnership as a significant step in expanding access to regulated blockchain payments for everyday services.
The initiative aligns with the UAE’s broader digital economy and fintech objectives, supporting secure blockchain adoption, financial transparency, and innovation across consumer services.
