In a landmark move for real-world crypto adoption, taxi riders in Abu Dhabi can now pay fares using AE Coin, a stablecoin pegged 1:1 to the UAE dirham.
This initiative marks the first global use of a national stablecoin in public transportation.
According to information from Coin Bureau, the rollout, led by Tawasul Transport in partnership with Al Maryah Community Bank and the Integrated Transport Center (ITC), allows passengers to make payments directly from their AEC Wallet app by scanning a QR code inside taxis. The integration enables fast, secure, and cost-efficient transactions without using cash or cards.
AEC Wallet Pushes UAE Closer to Cashless Mobility
The AEC Wallet, now available on Apple Store, Google Play, and Huawei AppGallery, facilitates stablecoin payments for daily transport in a move that supports Abu Dhabi’s broader smart mobility and fintech innovation strategy. AE Coin offers all the benefits of blockchain—speed, transparency, and low fees—without the volatility associated with typical cryptocurrencies.
Officials noted that AE Coin usage will soon expand beyond taxis to retail, e-commerce, and other transport services throughout the UAE.
“This initiative positions the UAE at the forefront of real-world crypto integration,” a spokesperson for Tawasul said, highlighting its commitment to financial innovation and digital transformation.
With this launch, the UAE reinforces its reputation as a global hub for crypto innovation and digital economy leadership.
Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/uae-taxis-now-accept-crypto-payments-with-dirham-backed-stablecoin/