The digital economy of the United Arab Emirates has reached a new frontier in retail commerce. In a groundbreaking move that bridges traditional merchant acquiring with the decentralized future, Network International, the leading enabler of digital commerce across the Middle East and Africa, has announced a strategic partnership to facilitate Stablecoin Payments across the nation. By signing a Memorandum of Understanding (MoU) with Al Maryah Community Bank (MBank), Network International will integrate AE Coin, the UAE’s first Central Bank-licensed, AED-backed digital token, into its vast ecosystem of Point-of-Sale (POS) and e-commerce platforms.
This collaboration marks the first time a major payments platform in the region has enabled regulated, local-currency stablecoin acceptance at such a significant scale. For the UAE, this is not just a technical upgrade; it is a clear signal that the era of everyday blockchain-powered commerce has arrived, providing a secure, compliant, and highly efficient alternative to traditional cash and card transactions.
What is AE Coin?
To understand why this partnership is revolutionary, one must look at the asset at its core: AE Coin. Unlike the volatile cryptocurrencies that often make headlines, AE Coin is a regulated AED-backed stablecoin issued by AED Stablecoin LLC. It is the first digital payment token to receive a license under the Central Bank of the UAE’s (CBUAE) rigorous “Payment Token Services Regulation.”
AE Coin is pegged on a 1:1 basis to the UAE Dirham (AED), meaning its value remains stable and predictable. Every token in circulation is backed by physical dirham reserves held in regulated, audited accounts. By utilizing blockchain technology, AE Coin offers the speed and programmability of a digital asset while maintaining the ‘stable’ value of the national currency. This makes it an ideal ‘means of payment’ rather than a speculative investment, perfectly suited for the future of digital transactions in the UAE.
Accepting Stablecoin Payments – What’s the News?
The heart of this announcement is the seamless integration of AE Coin into Network International’s existing infrastructure. Merchants across the UAE, from high-end boutiques in Dubai Mall to local groceries and large-scale e-commerce retailers, will soon be able to accept AE Coin as easily as they accept a credit card.
Key components of the rollout include:
- Omnichannel Acceptance: The integration covers both physical POS terminals and online e-commerce gateways.
- The AEC Wallet Connection: Customers will be able to pay via the AEC Wallet (powered by MBank), which serves as the primary interface for holding and transacting with AE Coin.
- Regulated Framework: Because both Network International and MBank operate under CBUAE oversight, every transaction is fully compliant with national anti-money laundering (AML) and security standards.
- Technical Integration: Network International is utilizing blockchain-powered POS solutions to ensure that stablecoin transactions are processed with the same speed and reliability as traditional payments.
What it Means for the Users and Merchants
This partnership creates a ‘win-win’ scenario for the entire retail ecosystem. For merchants, the ability to accept AE Coin means reduced transaction friction and potentially lower settlement costs compared to traditional international card schemes. It also allows them to tap into a growing demographic of tech-savvy consumers who prefer managing their wealth through digital wallets.
For customers, the benefits are even more tangible. Users of the AEC Wallet can now use their digital dirhams for everyday purchases, everything from paying a restaurant bill to settling home service charges.
Enhanced Privacy
Blockchain transactions offer a unique layer of security and data integrity.
Instant Settlements
Digital currency transfers happen in real-time, removing the ‘pending’ status often seen in banking apps.
Financial Inclusion
AE Coin allows those with digital-first preferences to stay within a regulated ecosystem while enjoying the flexibility of the blockchain.
About Network International
Network International is the largest payment acquirer in the UAE and a powerhouse across the MEA region. With over 30 years of experience, the company supports over 260,000 POS terminals and manages millions of credentials. Their role as the ‘first mover’ in enabling AE Coin merchant acceptance reinforces their commitment to driving the UAE’s National Digital Economy Strategy and remaining the preferred partner for innovative fintech solutions.
About Al Maryah Community Bank (MBank)
MBank is the UAE’s first fully integrated digital community bank. Since its launch, it has focused on providing innovative financial products that serve the local community’s evolving needs. By acting as the agent for AE Coin through its AEC Wallet, MBank has positioned itself as the gateway for retail blockchain adoption in the Emirates.
Way Ahead
The journey for Stablecoin Payments in the UAE is just beginning. As Network International begins the phased rollout across its merchant network, we can expect a ‘snowball effect’ where more retailers adopt the technology to remain competitive.
The successful integration of AE Coin sets a precedent for how national digital currencies and private stablecoins can coexist within a regulated framework. Looking forward, the ‘programmability’ of these payments could lead to automated loyalty rewards, instant tax calculations, and more complex B2B settlements. For now, the UAE has solidified its position as a global leader in Stablecoin Payments, proving that the future of money is digital, stable, and locally driven.
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