- ADNOC starts accepting AE Coin for fuel payments.
- Collaboration with Al Maryah Community Bank.
- Impact across UAE, Saudi Arabia, Egypt stations.
ADNOC Distribution, UAE’s largest fuel retailer, will start accepting AE Coin payments across 980 service stations in the UAE, Saudi Arabia, and Egypt, enhancing digital payment options.
This move positions AE Coin as a pioneer licensed stablecoin, aligning with digital currency regulation and expanding secure cross-border payment capabilities.
ADNOC Distribution, the largest fuel retailer in the UAE, has announced it will accept AE Coin payments across 980 stations located in the UAE, Saudi Arabia, and Egypt. This initiative strengthens the use of stablecoins in daily transactions.
The rollout is in partnership with Al Maryah Community Bank, offering AE Coin via the AEC Wallet. It marks a significant move in offering digital payment solutions while adhering to UAE Central Bank regulations for stablecoins.
The acceptance of AE Coin aims to streamline cross-border payments and enhance convenience for customers. This move is expected to set a precedent for further digitalization efforts across different sectors in the region.
The decision reflects a drive towards financial inclusion and digital currency adoption within the Gulf region. Eng. Bader Saeed Al Lamki, CEO, ADNOC Distribution, noted, “The action is a major step forward in the company’s efforts to give everyday retail customers safe and controlled digital payment options.” It also introduces a secure method of transaction aligned with Anti-Money Laundering standards.
Historically, such digital payment methods tend to promote economic growth and innovation. If successful, the initiative might encourage other countries to adopt similar blockchain technologies for retail use.
By supporting regulated digital payments, this collaboration between ADNOC and Al Maryah could inspire greater technological integration. Continued observation of market responses and regulatory compliance will be essential moving forward.
| Disclaimer: The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions. |
