ADNOC Integrates AE Coin for Seamless Digital Payments
In a groundbreaking move, ADNOC Distribution has announced its adoption of AE Coin, the UAE’s first central bank-licensed, AED-backed stablecoin, as a payment method across its network of nearly 980 fuel stations. This marks a significant milestone in the integration of blockchain technology into the mobility and convenience retail sectors.
Expanding Blockchain Payments Across the UAE
ADNOC’s partnership with Al Maryah Community Bank enables secure, instant, and regulated digital transactions for fuel, convenience store purchases at Oasis by ADNOC, and car wash services. Customers can now utilize the bank’s AEC Wallet for a seamless digital payment experience. This launch will extend beyond the UAE to the Kingdom of Saudi Arabia and Egypt, paving the way for regional adoption of virtual assets as payment methods.
A Step Forward in the UAE’s Digital Economy Strategy
The Memorandum of Understanding (MoU) signed during Abu Dhabi Finance Week highlights ADNOC’s commitment to pushing secure, regulated, and advanced technologies in retail. CEO Eng. Bader Saeed Al Lamki emphasized the company’s dedication to enhancing the customer experience through innovation. Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, declared that this initiative is a historic step for financial and retail sectors across the UAE.
What is AE Coin?
AE Coin, developed by AED Stablecoin LLC, is a stablecoin backed by the AED. It is designed to facilitate secure, regulated, and instant digital payments, demonstrating the practical applications of virtual assets in everyday activities. By adopting AE Coin, ADNOC enables customers to perform transactions efficiently while promoting transparency and trust in digital and blockchain solutions.
Benefits of Blockchain Integration for Customers
By incorporating blockchain technology, ADNOC is setting a benchmark for digital adoption in the retail and energy sectors. Customers can now enjoy:
- Instant Transactions: Payments are faster and more reliable than traditional methods.
- Security: Blockchain’s secure frameworks protect user data and funds.
- Convenience: Use a single digital wallet for fuel, convenience store items, and more.
Promoting Innovation Through Partnerships
Ramez Rafeek, General Manager of AED Stablecoin LLC, remarked: “AE Coin was developed to make secure, instant, regulator-approved virtual asset payments a reality in daily life. ADNOC Distribution’s nationwide adoption of AE Coin represents a major milestone for the UAE and sets an important benchmark for the virtual asset industry globally.”
Level Up Your Digital Payment Game
This initiative aligns perfectly with the UAE’s Digital Economy Strategy, which aims to lead global innovation in blockchain and virtual assets. Whether filling up your tank or buying essentials at Oasis by ADNOC, payments just got smoother with AE Coin. To explore the integration of blockchain wallets into your lifestyle, check out the AEC Wallet by Al Maryah Community Bank at almaryah.ae.
Embrace the future today and see how AE Coin reshapes modern retail transactions!
