- In December 2024, the UAE’s Central Bank (CBUAE) granted final approval to “AED Stablecoin LLC” to launch AE Coin
- The stablecoin is pegged 1:1 to the United Arab Emirates dirham (AED)
- Air Arabia passengers can book international flights using AE Coin cryptocurrency
Air Arabia, the MENA’s largest budget airline has become the first in the region to integrate cryptocurrency with flight bookings.
Announcing a strategic partnership with Al Maryah, the UAE’s first fully integrated digital bank, Air Arabia said they would be accepting the AE Coin stablecoin as payment.
The integration allows customers to select the AEC Wallet as a payment method when booking flights through Air Arabia’s official website.
A noteworthy step in the adoption of digital financial technologies in the region’s aviation sector, the move also offers customers a secure and stable payment alternative.
Adel Al Ali, Group Chief Executive Officer of Air Arabia, said the initiative is part of the airline’s commitment to digital transformation.
“We are proud to partner with Mbank to introduce AE Coin as a secure and innovative payment option for our customers. […] The move positions Air Arabia at the forefront of digital innovation in the airline industry, offering customers modern alternatives in payment while supporting the UAE’s ongoing digital transformation initiatives.”
Meanwhile, Dubai’s Department of Finance (DOF) partnered with global cryptocurrency platform Crypto.com allowing residents and businesses to pay for government services via cryptocurrency using Crypto.com’s digital wallet.
Dubai is in fact building a full-scale ecosystem where digital currencies play an active role in daily transactions.