Abu Dhabi’s ADNOC subsidiary ADNOC Distribution, which operates 562 service stations across the UAE, 172 in Saudi Arabia and 243 in Egypt, will use AE Coin, the UAE’s first regulated AED stablecoin, for payments with retail customers.
Customers can pay using AE Coin, implemented in conjunction with Al Maryah Community Bank’s AEC Wallet. AE Coin will be integrated into ADNOC Distribution’s payment channels across key customer touchpoints, including fueling and service stations, Oasis by ADNOC convenience stores, and car washes.
Customers will be able to use stablecoins to make instant, secure and frictionless blockchain-enabled payments.
ADNOC goes full throttle with AE Coin
Bader Saeed Al Lamki, CEO of Engineering ADNOC Distribution, said accepting AE Coin across its network is an important step in ADNOC Distribution’s commitment to enhancing mobility and retail convenience through innovation.
He explained, “By adopting blockchain-powered transactions, we are deploying advanced technology to create the best customer experience in the industry while preparing our services for the future.”
Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, added that the company is enabling virtual asset payments through AE Coin, presenting a real-world example of how blockchain technology simplifies payments and improves customer convenience.
Ramez Rafeek, general manager of AED Stablecoin LLC, explained that AE Coin was developed to enable secure, instant payment of regulatory-approved virtual assets in everyday life. He said, “This partnership demonstrates how licensed and fully reserved payment tokens can be used in mainstream retail environments, moving the promise of cryptocurrencies from concept to real-world practicality at scale.”
AE Coin signs agreement with UAE government and private sector
AE Coin, the UAE’s first and only AED-backed stablecoin, has agreements with carriers such as e&UAE, transport and logistics group 7X, real estate company East & West International Group, as well as the Abu Dhabi Transport Authority, local authorities and Air Arabia.
Crypto.com recently received In-Principle Approval (IPA) for a Stored Value Facility (SVF) license from the Central Bank of the UAE (CBUAE) through Foris DAX Middle East. This will enable the provision of digital payment services for Dubai government fees in UAE dirhams or dirham-pegged stablecoins.
Once the final license is granted, the company will be able to offer digital payment services for Dubai government fees in UAE dirhams or dirham-pegged stablecoins through the SVF framework.
This year, Crypto.com and Emarat petrol stations signed an agreement to enable cryptocurrency payments at petrol stations in the UAE. It is pending a license from the UAE Central Bank.
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