Fintech firm Network International has launched a payments platform that accepts AE Coin, enabling regulated stablecoin payments in the UAE for the first time. This follows the signing of a Memorandum of Understanding (MoU) with Al Maryah Community Bank (MBank).
Through this partnership, AE Coin— the UAE’s first fully reserved, AED-denominated stablecoin licensed by the Central Bank—will be integrated into Network’s POS and E-commerce payment systems, enabling merchants to seamlessly accept AE Coin in both physical and digital environments.
With this collaboration, Network merchants will be equipped to seamlessly accept AE Coin (AEC) as a fresh, secure, and innovative payment option, allowing customers an extra convenient method for purchasing products and services.
This partnership signifies a major progress in aligning with the UAE’s vision for financial services innovation, enhancing consumer options, and bolstering the digital payments framework.
Murat Cagri Suzer, group CEO of Network International, said: “As the first payments platform to enable Stablecoin acceptance in the UAE, our partnership with MBank is an important milestone to bringing regulated AE Coin payments into everyday commerce. Network’s payments infrastructure will enable secure and compliant AE Coin acceptance across POS and E-commerce channels, giving businesses and consumers greater flexibility and enhanced choice, while advancing the adoption of next-generation payment capabilities at scale.”
Mohammed Wassim Khayata, CEO, Al Maryah Community Bank, noted: “This partnership represents a significant step forward in bringing regulated digital payments into everyday commerce in the UAE. By working with Network International to enable AE Coin acceptance through the AEC Wallet, we are expanding secure, compliant payment options for merchants and consumers alike. At Mbank, our focus remains on supporting innovation that is fully aligned with regulatory frameworks while delivering real value to the market.”
Seamless integration into payment ecosystems
Ramez Rafeek, general manager, AED Stablecoin LLC, highlighted: “Enabling AE Coin acceptance across Network International’s POS and e-commerce infrastructure marks an important milestone in the evolution of regulated stablecoin payments in the UAE. This collaboration demonstrates how a Central Bank -licensed, AED-denominated stablecoin can be seamlessly integrated into existing payment ecosystems, supporting real-world use cases at scale. It reflects the UAE’s leadership in building a trusted, future-ready digital payments environment.”
With strengthened regulatory frameworks, a solid infrastructure, and growing usage, the UAE is primed to take the lead in the region for digital assets and stablecoin adoption. Moreover, enabling the acceptance of AE Coin is another step towards enhancing payment flexibility, convenience, and the customer experience.
