e& Partners with Al Maryah Community Bank to Pilot Stablecoin Payments
United Arab Emirates telecom powerhouse e& is taking a bold step into regulated digital finance. The company has signed a memorandum of understanding (MoU) with Al Maryah Community Bank to explore whether a dirham-pegged stablecoin, AE Coin, can support mainstream consumer transactions across its digital ecosystem.
e& Group CEO Hatem Dowidar emphasized that the stablecoin could provide “instant settlement, complete transparency, and frictionless access” for everyday payments, marking a potential shift toward blockchain-powered financial services in the UAE.
Al Maryah Community Bank CEO Mohammed Wassim Khayata described the initiative as laying the groundwork for real-world applications of licensed virtual assets.
Dirham-Backed Stablecoin Integrated into e&’s Digital Platforms
Under the pilot, e& will test AE Coin, licensed by the Central Bank of the UAE (CBUAE), as a payment option within its mobile and home-service platforms. The trial aims to allow customers to:
- Pay mobile and utility bills
- Top up prepaid lines and manage postpaid recharges
- Interact with smart service systems on e&’s digital platforms
The telecom firm also intends to explore e-commerce integration, positioning the stablecoin as a potential alternative payment method across one of the UAE’s largest consumer ecosystems.
Ramez Rafeek , general manager of AED Stablecoin, the company behind AE Coin, called the MoU a milestone in licensed stablecoin adoption, highlighting the token’s focus on regulated, instant, and transparent payments.
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Early-Stage Pilot Highlights Future Potential
While the MoU signals a clear intent to innovate, it is still an exploratory phase. Timelines, rollout scope, and measurable impact remain undefined, typical of early-stage blockchain pilots.
However, if successful, the project could demonstrate how regulated digital tokens can operate quietly behind the scenes, powering everyday financial activity in a secure and compliant manner.
e& Expands Crypto Utility with Crypto.com Partnership
In a related development, e&’s fintech arm, e& money, announced a partnership with Crypto.com to explore integrating the exchange’s crypto-as-a-service infrastructure.
The collaboration will focus on:
- Trade execution
- Access to global liquidity
- Potential custody and payment solutions, pending regulatory approval
e& money CEO Melike Kara Tanrikulu described the initiative as “a significant step forward” in bringing cryptocurrency-enabled services into the UAE’s mainstream financial ecosystem, enabling programmable rewards and expanding merchant crypto use cases.
Conclusion: UAE Advances Regulated Stablecoin Payments
With e&’s pilot and Crypto.com partnership, the UAE continues to strengthen its position as a global hub for regulated digital finance. These initiatives highlight the growing role of dirham-backed stablecoins in consumer payments, combining convenience, compliance, and transparency to shape the future of digital transactions in the region.
