Tawasul Transport, in partnership with Al Maryah Community Bank (Mbank), has introduced the first digital payment system for taxis in Abu Dhabi, utilizing AE Coin, a stablecoin linked to the UAE dirham. This initiative represents a global first, as it deploys a government-regulated stable digital currency specifically for public transport fares.

The launch was executed in coordination with the Integrated Transport Center (ITC) and is part of a larger strategy aimed at boosting the smart mobility ecosystem within Abu Dhabi. Officials believe that this development will streamline the payment process while supporting the UAE’s goals for fintech and digital governance.

Ghenna Jbour, General Manager of Tawasul Transport, emphasized that this initiative illustrates effective collaboration among various entities committed to ongoing improvements within the integrated transport ecosystem. She stated, “The adoption of AE Coin in public transport reflects our commitment to future-focused financial solutions that combine technology, convenience, and sustainability.”

Mohammed Wassim Khayata, CEO of Mbank, highlighted the project as a significant advancement in real-time consumer payments utilizing blockchain technology. He noted, “AE Coin is not just a digital currency; it’s a key pillar of the UAE’s emerging financial infrastructure,” adding that they are introducing a transformative payment experience that aligns with the UAE’s Digital Government Strategy 2025.

Ramez Rafeek, General Manager of AED Stablecoin, which oversees AE Coin, remarked that this collaboration demonstrates how digital currencies can be integrated into everyday life. He pointed out, “This partnership exemplifies the power of innovation and cooperation in driving the future of digital payments.”

The AEC Wallet is anticipated to broaden its accessibility to more transport services, merchants, and retail outlets across the UAE shortly.