"Abu Dhabi introduces AE Coin digital payments in taxis."

Tawasul Transport, in partnership with Al Maryah Community Bank (Mbank) and the Integrated Transport Center (ITC), has launched the first digital payment system in Abu Dhabi taxis using AE Coin, a stablecoin pegged to the UAE dirham. Passengers can now pay taxi fares by scanning a QR code inside the vehicle through the AEC Wallet app, available on Apple Store, Google Play, and Huawei AppGallery. The fixed exchange rate of Dhs1 to AEC 1 ensures financial stability and ease of use. This initiative marks a global first in deploying a government-regulated stable digital currency for public transport fares and is part of Abu Dhabi’s broader strategy to boost digital transformation and smart mobility. Ghena Jbour, GM of Tawasul Transport, said the project exemplifies effective collaboration and reflects a commitment to future-focused financial solutions combining technology, convenience, and sustainability. Mohammed Wassim Khayata, CEO of Mbank, described AE Coin as a key pillar of the UAE’s emerging financial infrastructure, supporting the Digital Government Strategy 2025. The AEC Wallet app is expected to expand to other transport services, merchants, and retail outlets across the UAE, further integrating digital payments into daily life.

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