UAE telco giant e& taps dirham stablecoin for bill payments pilot

UAE telecom giant e& has signed a memorandum of understanding (MoU) with Al Maryah Community Bank to test the integration of a dirham-pegged stablecoin, AE Coin, into its digital payment channels. This collaboration aligns with the UAE's push toward regulated digital finance. The pilot aims to allow e& customers to use the token for paying mobile and home-service bills, managing recharges, and interacting with digital platforms. AE Coin, created by AED Stablecoin, is licensed by the Central Bank of the UAE (CBUAE) and was among the first to receive in-principle approval under the Payment Token Service Regulation framework. Executives from e& and Al Maryah Community Bank highlighted the stablecoin's potential for instant settlement and transparency. Although this remains an early-stage pilot signaling intent rather than guaranteed execution, a successful trial could validate regulated tokens for routine consumer financial activity.

(Source：Cointelegraph)