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Mbank has partnered with AE Coin to become the first institution offering access to the UAE’s first-ever regulated stablecoin. Through the AEC Wallet, powered by Mbank, customers can now purchase AE Coin and conduct seamless, stable, and secure digital transactions, marking a milestone in the UAE’s digital financial landscape.
The partnership aligns with the Central Bank of the UAE’s Digital Payment Token Services Framework and the government’s vision for a future-ready economy. This initiative is set to redefine Mbank’s financial services portfolio by integrating a secure and efficient digital currency into everyday transactions.
What is AE Coin?
AE Coin, backed by the UAE Dirham, combines the stability of fiat currency with blockchain agility. It enables:
Fast, low-cost transactions
Regulatory compliance under the Central Bank of the UAE
Security and scalability in digital finance
AE Coin’s platform is designed for seamless usability, allowing users to invest, save, and transact. It simplifies everyday financial activities such as:
Sending and receiving money
Paying merchants
Converting AE Coin into fiat currency
Mbank’s AEC Wallet offers a user-friendly platform for retail and corporate customers, providing instant and cost-effective alternatives to traditional banking.
Leadership Commentary
Mohammed Wassim Khayata, CEO of Mbank, highlighted the transformative potential of this partnership:
“We are proud to be the first entity to integrate AE Coin into our system, offering customers a transparent, cost-effective way to use regulated digital currency. This marks a new era in financial services, fostering economic growth and increasing accessibility for individuals and businesses alike.”
Ramez Rafeek, General Manager of AE Coin, emphasized the significance of the collaboration:
“Partnering with Mbank sets a benchmark in digital finance, offering instant, secure, and cost-effective transactions. AE Coin simplifies financial activities and sets a new standard for trust and innovation in the digital economy.”
Strategic Vision
AE Coin aims to drive adoption by forming partnerships with financial institutions, payment gateways, and tech providers. Its roadmap includes:
Integration with decentralized applications (dApps)
