TLDR:
- ADNOC introduces AE Coin payments across fuel stations, convenience stores, and car washes.
- The MoU with Al Maryah Community Bank enables frictionless blockchain transactions.
- AE Coin is UAE’s first central bank-licensed, AED-backed stablecoin for real-world use.
- Initiative aligns with UAE’s Digital Economy Strategy and advances regulated digital payments.
UAE energy giant ADNOC Distribution will begin accepting AE Coin stablecoin for payments across its extensive network of nearly 980 stations.
The rollout spans the United Arab Emirates, Kingdom of Saudi Arabia, and Egypt, marking a major development in digital-payment adoption across the region.
The agreement, formalized through a memorandum of understanding (MoU) with Al Maryah Community Bank, enables customers to pay using the bank’s AEC Wallet. Payment integration will cover fuel pumps, Oasis by ADNOC convenience stores, and car washes, offering secure and streamlined transactions for everyday retail activities.
ADNOC Integrates AE Coin Into Customer Payments
With this adoption, ADNOC Distribution becomes the first fuel and convenience retailer in the UAE to implement stablecoin payments on a large scale.
AE Coin is the UAE’s first central bank-licensed, AED-backed virtual asset, designed for instant, secure, and regulated digital transactions.
The MoU was signed during Abu Dhabi Finance Week (ADFW), reflecting ADNOC’s commitment to supporting regulated blockchain-based payment solutions.
The initiative demonstrates how digital assets can be practically integrated into the mobility and convenience retail sector.
Through the AEC Wallet provided by Al Maryah Community Bank, customers will complete transactions quickly and safely.
The integration removes friction from payments and offers a reliable alternative to traditional payment methods.
Eng. Bader Saeed Al Lamki, CEO of ADNOC Distribution, said: “Accepting AE Coin across our network represents a significant step in ADNOC Distribution’s journey to enhance mobility and convenience retail through innovation. By embracing blockchain-powered transactions, we are adopting advanced technologies to create the industry’s best customer experiences.”
Partnership Strengthens UAE’s Digital Economy Ambitions
The collaboration with Al Maryah Community Bank brings virtual asset payments to millions of consumers.
Mohammed Wassim Khayata, CEO of the bank, said: “This partnership marks a historic moment for the UAE’s financial and retail sectors. By enabling virtual asset payments across the ADNOC Distribution network, we are bringing the future of digital transactions to millions of consumers.”
Ramez Rafeek, General Manager of AED Stablecoin LLC, added: “AE Coin was developed to make secure, instant, regulator-approved virtual asset payments a reality in daily life. ADNOC Distribution’s nationwide adoption of AE Coin represents a major milestone for the UAE and sets an important benchmark for the virtual asset industry globally.”
The integration aligns with the UAE Digital Economy Strategy, advancing secure and regulated digital-payment ecosystems.
It also supports the country’s goal to lead global innovation in virtual assets and blockchain technology.
By enabling AE Coin payments at fuel stations, convenience stores, and car washes, ADNOC Distribution promotes efficiency and transparency in retail transactions.
The initiative showcases how digital tokens can be applied at scale to benefit consumers and businesses alike.
The post UAE Energy Giant ADNOC to Accept Stablecoin Payments Across 980 Fuel Stations appeared first on Blockonomi.
Source: https://blockonomi.com/uae-energy-giant-adnoc-to-accept-stablecoin-payments-across-980-fuel-stations/
