AE Coin, a Central Bank-licensed dirham-backed stablecoin, is expanding from telecom to fuel and retail payments across the UAE, Saudi Arabia, and Egypt through new ADNOC Distribution adoption.
ADNOC Distribution signed an MoU with Al Maryah Community Bank to enable AE Coin stablecoin payments at 980 service stations in the UAE, Saudi Arabia, and Egypt. Customers will be able to use the AEC Wallet for payments covering fuel, convenience store purchases, and car wash services. AE Coin is licensed by the UAE Central Bank and pegged 1:1 to the dirham. This marks an expansion of the stablecoin’s use from its initial telecom pilot with e& to broader retail and service sectors.