e&, a telecom company in the UAE, has signed a memorandum of understanding (MOU) with Al Maryah Community Bank to test AE Coin, a Central Bank–approved stablecoin linked to the dirham, for customer payments.
According to a Gulf News report, this collaboration aims to explore how the AE Coin token can be used across various activities.
These include paying bills for home and mobile services, topping up prepaid plans, paying postpaid charges, and making other transactions across e&’s digital systems and self-service options.
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The pilot project also considers adding AE Coin support for future online shopping features on the e& platform, which offers a regulated, digital alternative for daily financial activities.
e& Group CEO Hatem Dowidar said:
With the Central Bank-licensed stablecoin, e& UAE is setting a new standard for regulated digital finance: instant settlement, complete transparency, and frictionless access. For our customers, this means choice, trust, and speed.
Ramez Rafeek, general manager of AED Stablecoin, shared that this stablecoin was introduced to provide fast, open payments under regulatory oversight. He stated the agreement is a meaningful step for bringing government-approved digital tokens into typical customer services.
Additionally, the chief executive of Al Maryah Community Bank, Mohammed Wassim Khayata, noted that the project is moving licensed digital assets closer to everyday use.
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