Tawasul Transport and Al Maryah Community Bank launch the first digital payment system in taxis using AE Coin
The post Tawasul Transport and Al Maryah Community Bank launch the first digital payment system in taxis using AE Coin appeared on BitcoinEthereumNews.com.
[PRESS RELEASE – Abu Dhabi, United Arab Emirates, June 24th, 2025] In coordination with the Integrated Transport Center (ITC) of the Department of Municipalities and Transport, Tawasul Transport, in collaboration with Al Maryah Community Bank (Mbank), launched a groundbreaking initiative enabling passengers to pay electronically via the AEC Wallet app using the stable digital currency AE Coin across all Tawasul taxis in the Emirate of Abu Dhabi. This milestone is part of joint efforts to enhance digital payment solutions and develop a smart, secure, and seamless transportation experience. The initiative is the first of its kind globally to adopt a stablecoin pegged to the UAE dirham for public transport payments. The launch event featured the first official payment using AE Coin following a completed ride in one of Tawasul’s taxis—a move that reinforces Abu Dhabi’s commitment to transitioning toward a digital and sustainable transportation system. The AEC Wallet offers a simple and secure payment experience, allowing users to complete transactions by scanning a QR code inside the vehicle. AE Coin is pegged at a fixed rate of 1 AED = 1 AEC, ensuring strong financial stability and building trust in digital currency usage. The AEC Wallet app is available for free on the Apple Store, Google Play, and Huawei AppGallery. It features an innovative user experience focused on fast transactions, robust security, and reduced transfer costs. With this initiative, taxi passengers in Abu Dhabi can now benefit from an advanced digital payment experience that aligns with the emirate’s ambitions for digital transformation and strengthens its position as a global hub for fintech and smart mobility. Tawasul Transport: Mr. Ghena Jbour, General Manager of Tawasul Transport, stated: “This initiative serves as a model of effective collaboration between all entities striving for continuous development within the integrated transport ecosystem. It reinforces the…
Filed under: News - @ June 24, 2025 1:27 pm