UAE Telecom Giant Partners to Explore Dirham Stablecoin Payments

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e& UAE partners with Al Maryah Community Bank (Mbank) for a major pilot program. They will explore using a dirham-backed stablecoin for customer payments.

The UAE’s telecom behemoth, e& (formerly Etisalat, but who’s counting?), has announced its latest thrilling adventure in the world of digital finance. In partnership with Al Maryah Community Bank (Mbank), the pair will embark on a bold experiment: using a dirham-backed stablecoin to facilitate payments. Yes, you read that right-there will be no more fumbling for loose change to pay your bills. Instead, you’ll be able to use AE Coin, a fancy new token, to pay for your mobile and home services. If only paying for coffee were this easy… 🍵💰

Partnership Details and Scope Embed Regulated Innovation

So, what does this mean for the average consumer? Well, e& and Mbank have signed an MOU (which, in corporate speak, is basically the start of a beautiful relationship). The coin in question? AE Coin, the first fully reserved, AED-backed stablecoin that’s officially licensed by the UAE Central Bank. Because, obviously, your digital payments should come with government-approved stamp of approval. 💼

For the lucky millions of e& customers, this means the ability to settle bills, top up prepaid plans, and make various digital transactions all with AE Coin. In other words, it’s a chance to experience the future of finance, today! Who knew paying bills could sound this exciting? 🧾💳

Related Reading: Crypto News Today: UAE Completes First Transaction Using Digital Dirham | Live Bitcoin News

And if that doesn’t blow your mind, there’s more! The UAE is pushing for a digital ecosystem that’s not only efficient but also regulated. Because, let’s face it, we’ve all had that moment of existential dread while buying things online. Will this purchase end up in a shady unregulated crypto jungle? Not anymore, my friend. 🙅‍♂️

Ramez Rafeek, General Manager of AED Stablecoin LLC (yes, that’s a title) notes that this initiative sets a global standard. Think of it as the gold medal of financial innovation. 🏅 AE Coin is here to pave the way for other licensed stablecoins in consumer services. Who knew finance could be this glamorous?

Broader Context of UAE Stablecoins and Compliance

But wait-there’s a bigger picture here. This partnership is part of the UAE’s national drive to bring stablecoins into the limelight of the financial world. It’s all part of the country’s Digital Economy Strategy, where stablecoins are the shiny new toys in the sandbox. Dubai and Abu Dhabi are offering clear frameworks for digital assets. Essentially, the UAE is making it way too easy to jump on the crypto bandwagon. 🚀

And just in case you thought the UAE was alone in this, think again. Other major players like First Abu Dhabi Bank (FAB) and the sovereign investor ADQ are also joining the dirham-backed stablecoin game. You can practically hear the sound of money being made. 🏦💸

Meanwhile, in a land far, far away, Belarus is tightening crypto rules. It’s a bit like the ‘keep it local’ rule for digital currency trading. If you want to trade in Belarus, you’d better stay in the sandbox that the government built. No more foreign exchanges, thank you very much. So much for international freedom, right? 😏

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2025-12-11 21:50