UAE’s largest fuel retailer ADNOC Distribution will accept stablecoin in 980 stations in three countries. The company has partnered with Al Maryah Community Bank to enable AE Coin payments via the AEC Wallet at fuel pumps, convenience stores, and car washes. AE Coin, the UAE's first stablecoin licensed by the Central Bank, is backed 1:1 with dirhams.

ADNOC Distribution, the UAE’s largest fuel and convenience retailer, has signed a strategic memorandum of understanding with Al Maryah Community Bank (Mbank) to accept AE Coin, a Central Bank of the UAE–licensed, dirham‑backed stablecoin, across its retail network. AE Coin will be integrated via Mbank’s AEC Wallet into ADNOC Distribution’s payment infrastructure, allowing customers to pay in AE Coin at fuel pumps, Oasis by ADNOC convenience stores, and car washes, initially across roughly 980 service stations in the UAE, Saudi Arabia and Egypt. The rollout makes ADNOC Distribution the first fuel and convenience retailer in the UAE to accept a regulated stablecoin for everyday retail payments. AE Coin is described as the UAE’s first Central Bank‑licensed and AED‑backed virtual asset, designed as a “next‑generation stable digital currency” fully backed 1:1 by UAE dirhams, with issuance and redemption handled through the regulated banking system. According to the parties, using AE Coin through the AEC Wallet is intended to enable instant, blockchain‑based transactions while maintaining price stability equivalent to the dirham and complying with local regulatory requirements. For ADNOC Distribution, the initiative fits into a broader push to expand digital and contactless payments across its network, complementing existing options such as cards and its own ADNOC Wallet, and is framed as a step toward offering “safe and controlled” digital payment channels to mass‑market retail users. The partnership is significant for the UAE’s digital asset and payments landscape because it moves a regulated, bank‑issued stablecoin from niche or wholesale use into mainstream consumer spending at a large state‑linked retailer. It also illustrates how UAE financial regulators and domestic institutions are experimenting with tokenized forms of national currency under existing supervisory frameworks, rather than relying on unregulated crypto assets or offshore stablecoins. If adoption grows, this type of arrangement could inform how other retailers, banks, and regulators in the region structure retail‑grade stablecoin payments, and how such tokens might coexist with future central bank digital currency (CBDC) initiatives. "entities":["ADNOC Distribution","Abu Dhabi National Oil Company (ADNOC)","Al Maryah Community Bank (Mbank)","AE Coin","AEC Wallet","Central Bank of the UAE","Oasis by ADNOC","United Arab Emirates dirham (AED)","United Arab Emirates","Saudi Arabia","Egypt"]}`

✨ AI-generated background, compiled from web sources — not editorial content.

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• UAE
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