UAE taxi riders can now pay using AE Coin, a Dirham-backed stablecoin. This marks a key milestone in the country’s efforts to integrate blockchain-based payments into daily life.
What Is AE Coin and How Is It Powering UAE Taxis?
As part of Abu Dhabi’s smart city initiative, the Integrated Transport Center has partnered with Al Maryah Community Bank (MBank) to introduce AE Coin payments in taxis.
AE Coin is the UAE’s first Dirham-backed stablecoin, pegged 1:1 to the UAE Dirham. It is designed to deliver price stability, fast settlement, and low transaction costs, making it ideal for everyday digital transactions.
Though relatively new, AE Coin is gaining momentum. It received its final license from the Central Bank of the UAE in December 2024, officially recognizing it as a regulated digital payment solution.
A Boost to Abu Dhabi’s Smart Transport Vision
Tawasul Transport General Manager, Ghena Jbour, emphasized that this integration supports Abu Dhabi’s broader goal of developing a smart and sustainable transportation system, offering passengers more flexible payment options.
MBank CEO, Mohammed Wassim Khayata, added that AE Coin’s integration into transportation aligns with the UAE’s Digital Government Strategy 2025, which focuses on accelerating digital adoption across public and private sectors.
AE Coin Adoption Expands to the Airline Industry
Beyond taxis, AE Coin is now accepted by Air Arabia for flight bookings. This move reinforces the growing real-world utility of stablecoins in the UAE, signaling a broader shift toward crypto-inclusive commerce.
- Also Read :
- Israeli Arrested for Selling Secrets to Iran for Crypto
- ,
UAE Leads the Way in MENA’s Stablecoin Adoption
The MENA region recorded $338.7 billion in crypto transaction volume between July 2023 and June 2024, accounting for 7.5% of global activity. Within the region, the UAE ranked third, contributing $34 billion in transaction volume with a 30% adoption rate.
According to AE Coin General Manager Ramez Rafeek, stablecoins like AE Coin are proving that crypto can be seamlessly integrated into daily services across transportation and travel.
Conclusion: UAE’s Digital Payment Revolution Is Underway
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 tech upgrade—it’s a strategic step toward a blockchain-enabled economy.
The future of everyday crypto payments is already unfolding in the UAE.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
FAQs
AE Coin is a UAE Dirham–backed stablecoin introduced in Abu Dhabi taxis through the AEC Wallet app. You simply download the AEC Wallet on your phone, scan the QR code inside the taxi, and pay instantly with AE Coin, which is pegged 1:1 to the Dirham to ensure price stability
In Abu Dhabi, taxis have integrated AE Coin payments via QR codes and the AEC Wallet app. Dubai taxis generally accept Visa/MasterCard and Google Pay, but some drivers claim card machines are “not working” to avoid digital payments and prefer cash
Yes, AE Coin is a regulated, Dirham-backed stablecoin designed for secure, fast, and low-cost payments. It is supervised by UAE authorities, making it a trustworthy option for daily transactions.
AE Coin offers instant settlement, price stability (1 AE Coin = 1 AED), low transaction fees, and secure blockchain-based payments. It supports the UAE’s smart city goals by promoting digital payments in public transport.
