UAE telco giant e& taps dirham stablecoin for bill payments pilot
The MoU marks a cautious step toward real-world stablecoin payments in the UAE, with e& assessing how AE Coin may integrate into its digital channels.
United Arab Emirates’ telecom giant e& is reportedly preparing to test whether regulated stablecoins can support mainstream consumer payments, having signed a memorandum of understanding (MoU) with Al Maryah Community Bank to explore the use of a dirham-pegged stablecoin across its digital channels.
According to a Gulf News report, executives framed the collaboration as part of the UAE’s push toward regulated digital finance. Hatem Dowidar, e& Group CEO, said the stablecoin enables “instant settlement, complete transparency, and frictionless access.”
Al Maryah Community Bank CEO Mohammed Wassim Khayata described the initiative as a step toward expanding the “real-world applications” of licensed virtual assets.