Abu Dhabi has become the first city globally to enable taxi passengers to pay fares using a national stablecoin. Riders can now use AE Coin, a digital currency pegged 1:1 to the UAE dirham, for seamless cashless trips across the capital.
How It Works
Crypto education platform Coin Bureau announced that Abu Dhabi passengers can pay for taxi rides via the AEC Wallet app, a collaboration between:
- Tawasul Transport
- Al Maryah Community Bank
- Integrated Transport Center (ITC)
The process is simple:
- Open the AEC Wallet app.
- Scan the QR code displayed inside the taxi.
- Confirm the payment—no cash or cards needed.
👉 Discover how AE Coin is revolutionizing payments in the UAE
Key Features of AEC Wallet
Developed by Al Maryah Community Bank, the app allows users to:
- Send, receive, and store AE Coin.
- Convert between AE Coin and UAE dirhams instantly.
- Make peer-to-peer transfers within the ecosystem.
Available on:
- Apple App Store
- Google Play
- Huawei AppGallery
UAE’s Digital Payment Expansion
This initiative aligns with the UAE’s vision to become a leader in blockchain-powered finance. Recent milestones include:
| Initiative | Description |
|------------|------------|
| Crypto Fuel Payments | Launched in May 2025, partnering with Crypto.com to enable digital asset payments at Emarat gas stations. |
| AI Education | Nationwide AI curriculum rollout for all school grades. |
| Stablecoin Regulation | Central Bank guidelines for algorithmic stablecoins and privacy tokens. |
Why This Matters
The UAE’s integration of stablecoins into everyday services like transport and fuel signals a strategic push toward:
- Financial innovation: Bridging traditional and digital economies.
- Consumer convenience: Reducing reliance on physical cash.
- Global leadership: Positioning the UAE as a crypto-friendly hub.
👉 Explore the future of cashless transactions with AE Coin
FAQ Section
Q: Is AE Coin volatile like other cryptocurrencies?
A: No. AE Coin is a stablecoin backed 1:1 by UAE dirhams, ensuring price stability.
Q: Are there fees for using AE Coin in taxis?
A: Transactions are fee-free, offering a cost-effective alternative to card payments.
Q: Can tourists use AE Coin for taxi rides?
A: Yes. The AEC Wallet app is available globally, though dirham conversion may apply.
Q: What other services accept AE Coin?
A: Currently, taxis and select fuel stations; expansion to retail and utilities is expected.
Q: How secure is the AEC Wallet?
A: Built by Al Maryah Community Bank, it adheres to stringent financial security standards.
The Road Ahead
As the UAE accelerates its digital transformation, AE Coin’s adoption in public transport sets a precedent for broader crypto utility. This move not only enhances efficiency but also paves the way for a future where digital assets underpin everyday commerce.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct independent research before engaging with digital assets.
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