The United Arab Emirates pioneers the use of stablecoin for taxi payments, streamlining transport services in the region.
Launch of Stablecoin in Public Transport in UAE
According to information from Coin Bureau, the rollout was led by Tawasul Transport in partnership with Al Maryah Community Bank and the Integrated Transport Center (ITC). Passengers can make payments by scanning a QR code in taxis, ensuring fast, secure, and cost-efficient transactions without using cash or cards.
Functions of AEC Wallet and Its Usage
The AEC Wallet, now available on Apple Store, Google Play, and Huawei AppGallery, allows stablecoin payments for daily transport, supporting Abu Dhabi’s broader smart mobility and fintech innovation strategy.
Future Perspectives for AE Coin Usage in Various Sectors
AE Coin usage is expected to expand beyond taxis to retail, e-commerce, and other transport services throughout the UAE. 'This initiative positions the UAE at the forefront of real-world crypto integration,' a spokesperson for Tawasul said.
The launch of stablecoin for taxi payments highlights the UAE's commitment to financial innovation and digital economy leadership, allowing the country to challenge other regions in cryptocurrency advancements.
