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UAE's Largest Fuel Retailer ADNOC to Accept Stablecoin Payments
Summary: According to reports, ADNOC Distribution has announced a memorandum of understanding with Al Maryah Community Bank to accept payments in the AE Coin stablecoin at nearly 980 service stations in the UAE, Saudi Arabia, and Egypt. Customers can use AE Coin through Al Maryah Community Bank's AEC Wallet to make payments at gas pumps, Oasis ...
According to reports, ADNOC Distribution has announced a memorandum of understanding with Al Maryah Community Bank to accept payments in the AE Coin stablecoin at nearly 980 service stations in the UAE, Saudi Arabia, and Egypt.
Customers can use AE Coin through Al Maryah Community Bank's AEC Wallet to make payments at gas pumps, Oasis by ADNOC convenience stores, and car wash services. AE Coin is the UAE's first stablecoin licensed by the central bank, pegged 1:1 to the dirham.
ADNOC Distribution CEO Eng. Bader Saeed Al Lamki stated that this move is an important step for the company in introducing secure, regulated digital payments into daily retail operations. ADNOC Distribution operates 562 sites in the UAE, 172 sites in Saudi Arabia, and 243 sites in Egypt.
