UAE telecom giant e& is testing a dirham-backed stablecoin called AE Coin for everyday payments after signing a memorandum of understanding with Al Maryah Community Bank.

The initiative will integrate AE Coin into e& UAE’s infrastructure, enabling customers to use it for bill payments, recharges, self-service kiosks, and future e-commerce touchpoints. The move brings regulated stablecoin utility to one of the country’s most widely used consumer ecosystems.

Bank CEO Mohammed Wassim Khayata said the pilot broadens real-world adoption of compliant virtual assets, while AED Stablecoin GM Ramez Rafeek called it a milestone for mainstream stablecoin integration.