TLDR
- ADNOC Distribution is the first UAE gas station retailer to accept AE Coin payments.
- AE Coin, the UAE’s first AED-backed stablecoin, will be integrated into ADNOC’s payment system.
- The partnership with Al Maryah Community Bank enables blockchain-based payments at ADNOC’s outlets.
- AE Coin is being adopted by various sectors, including telecom, transport, and government entities.
- ADNOC’s initiative reflects a broader push in the UAE for digital payments and blockchain technology adoption.
Abu Dhabi National Oil Company (ADNOC) Distribution has become the first gas station retailer in the UAE to accept stablecoin payments. According to a report by Middle East Economy, the company will integrate AE Coin, the UAE’s first regulated AED-backed stablecoin, into its payment infrastructure. This partnership with Al Maryah Community Bank aims to enhance payment options for customers.
ADNOC Becomes the First Gas Station Retailer to Allow Stablecoin Payments
ADNOC Distribution operates 562 service stations across the UAE. The company has signed a Memorandum of Understanding to implement AE Coin payments. Customers can use the AE Coin through the AEC Wallet, enabling blockchain-based payments at fuel stations, convenience stores, and car wash facilities.
“By accepting AE Coin, ADNOC Distribution introduces an advanced payment system across its retail network,” said Eng. Bader Saeed Al Lamki, CEO of ADNOC Distribution. “This step helps us embrace blockchain technology to improve customer experience.”
AE Coin Now Used Across Several Industries in the UAE
AE Coin, a fully regulated stablecoin backed by the UAE Dirham, is used in various sectors. It has been integrated into payment systems for telecom companies like e& UAE, transport group 7X, and real estate firms. AE Coin has been involved in collaborations with government entities such as the Abu Dhabi Transport Department and Air Arabia.
Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, emphasized that AE Coin enables secure virtual asset payments. “Blockchain technology simplifies payments, enhancing customer convenience,” he said. This new method of payment reflects the UAE’s push for digital transaction innovation.
ADNOC Distribution Takes Lead with Blockchain Payments
The agreement between ADNOC Distribution and Al Maryah Community Bank marks a pivotal shift in the UAE’s retail sector. AE Coin’s integration into ADNOC’s systems ensures seamless and secure blockchain-based transactions. The partnership reflects ADNOC Distribution’s ongoing efforts to stay at the forefront of digital payment technology.
“This integration demonstrates our readiness to adopt next-gen payment systems,” said Ramez Rafeek, General Manager of AED Stablecoin LLC. “We are moving from crypto as a concept to real-world utility.” The company’s initiative sets a precedent for blockchain payments in the region.
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