Crypto Journalist
Amin Ayan
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United Arab Emirates telecom heavyweight e& is preparing to test whether a regulated stablecoin can support day-to-day consumer payments, marking one of the country’s most visible moves toward blockchain-based financial infrastructure.
Key Takeaways:
- e& has teamed up with Al Maryah Community Bank to pilot AE Coin stablecoin for everyday consumer payments.
- The trial will test AE Coin across e&’s digital services, including bill payments.
- The initiative reflects the UAE’s broader push toward regulated digital finance.
The company has signed a memorandum of understanding with Al Maryah Community Bank to explore how a dirham-pegged token could function across its digital services.
e& Tests AE Coin Stablecoin for Bill Payments and Digital Services
The trial centers on AE Coin, a fully backed stablecoin licensed by the Central Bank of the UAE.
Under the agreement, e& will evaluate how the token can be woven into its payment systems, potentially allowing customers to pay mobile and home-service bills, recharge prepaid lines, manage postpaid accounts, and interact with its digital platforms using a blockchain-based settlement method.
Executives on both sides framed the partnership as part of the UAE’s broader ambition to push regulated digital finance into mainstream use.
e& Group CEO Hatem Dowidar said the stablecoin offers “instant settlement, complete transparency, and frictionless access,” highlighting its appeal as a next-generation payment rail.
Al Maryah Community Bank CEO Mohammed Wassim Khayata added that the pilot opens the door to expanding “real-world applications” for licensed virtual assets.
Although e& signaled interest in eventually linking the token to e-commerce channels, the initiative remains firmly in the exploratory stage.
An MoU indicates intent rather than deployment, meaning timelines, rollout scope, and consumer impact are still undefined. For now, the trial will focus on internal infrastructure testing rather than a public launch.
Ramez Rafeek, general manager of AED Stablecoin, the firm behind AE Coin, described the collaboration as a milestone for regulated digital payments, positioning the stablecoin as a potential backbone for essential services.
The company was among the first to receive in-principle approval under the UAE’s Payment Token Service Regulation framework, putting it ahead in the region’s increasingly competitive stablecoin race.
The UAE has been actively advancing its regulatory approach to virtual assets as it seeks to build out a compliant digital finance ecosystem.
Tether, Binance Secure Regulatory Approval in ADGM
As reported, Tether’s USDT stablecoin has also secured regulatory recognition as an approved fiat-referenced token across a wide range of blockchains inside the ADGM.
Tether said ADGM now permits licensed institutions in the financial free zone to conduct regulated activities involving USDT across Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON and TRON.
These approvals expand on earlier recognition for USDT on Ethereum, Solana and Avalanche.
On Monday, Binance disclosed that it has also secured full authorization to operate its flagship Binance.com platform under ADGM oversight, a milestone that comes after years of regulatory scrutiny.
Binance will operate through three distinct legal entities in the zone, an exchange, a clearing house and a broker-dealer, reflecting a traditional financial-market structure designed to enable regulated trading, custody, settlement and off-exchange services.
