UAE Taxis Now Accept Stablecoin AE Coin for Cashless Rides

Abu Dhabi has become the first city globally to enable taxi passengers to pay fares using a national stablecoin. Riders can now utilize AE Coin, a dirham-backed digital currency, for seamless cashless trips across the capital.

The initiative, led by Tawasul Transport in partnership with Al Maryah Community Bank and the Integrated Transport Center, allows payments via the AEC Wallet app. Passengers simply scan a QR code inside the vehicle to complete transactions—eliminating the need for cash or cards.

Developed by Al Maryah Community Bank, the AEC Wallet app provides a user-friendly platform for managing AE Coin. It supports QR code payments, instant conversions between AE Coin and UAE dirhams, and peer-to-peer transfers. The app is available on major platforms including Apple App Store, Google Play, and Huawei AppGallery.

This MOVE aligns with the UAE's broader strategy to accelerate digital payment adoption, reinforcing its position as a leader in financial innovation.