AED Stablecoin, a subsidiary of Al Maryah Community Bank, has received approval from the Central Bank of the UAE enabling its AEC Wallet to facilitate AE Coin top-ups through cryptocurrency settlement. The move marks another step forward in the country’s broader digital payments and financial innovation agenda.
Following this authorisation, customers of Emirates Currency Investment Company, which is licensed by the Capital Market Authority, can establish accounts within the AEC Wallet and complete UAE dirham transactions using direct crypto settlement mechanisms.
The wallet enhances convenience by allowing users to convert digital assets into dirhams and have them instantly credited as AE Coin in a single, streamlined process.
Once credited, AE Coin can be utilised for payments at point-of-sale terminals across the UAE, bringing regulated digital currency into everyday retail transactions.
Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, described the approval as a significant milestone in advancing financial innovation, enabling secure and compliant digital payments while reinforcing confidence in blockchain-based, dirham-pegged transactions.
Ramez Rafeek, General Manager and Head of the AE Coin ecosystem, noted that the collaboration with Emirates Coin Investment LLC strengthens AE Coin’s position as the UAE’s first regulated stablecoin operating across both public and private payment environments.
He further stated that the development is expected to accelerate adoption and support the creation of a more inclusive and resilient digital payments framework, aligned with the UAE’s long-term digital economy ambitions.
The initiative underscores Al Maryah Community Bank and AE Coin’s commitment to delivering regulated, innovative financial solutions while encouraging responsible digital asset usage and contributing to the continued evolution of the UAE’s digital ecosystem.
