Today's Edition
DUBAI (ALETIHAD)
Network International has become the first payments platform to enable regulated stablecoin payments in the UAE through AE Coin, following the signing of a memorandum of understanding with Al Maryah Community Bank (MBank), according to a press release.
Under the partnership, AE Coin, described as the UAE’s first Central Bank-licensed, fully reserved, AED-denominated stablecoin, will be integrated into Network International’s point-of-sale and e-commerce payment platforms. This will allow merchants to accept AE Coin across physical and digital channels.
Network International said the collaboration supports its strategy to expand its digital payments ecosystem and reinforce its role in enabling alternative and next-generation payment methods in the UAE. Through the integration, Network merchants will be able to accept AE Coin as an additional payment option, providing customers with another way to pay for goods and services.
Murat Cagri Suzer, Group Chief Executive Officer of Network International, said: “As the first payments platform to enable stablecoin acceptance in the UAE, our partnership with MBank is an important milestone in 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, Chief Executive Officer of Al Maryah Community Bank, said the partnership would help bring regulated digital payments into everyday use. “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,” he said.
Ramez Rafeek, General Manager of AED Stablecoin LLC, said enabling AE Coin acceptance across Network International’s infrastructure marked an important milestone in the development 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,” he said.
Network International said the partnership strengthens its position in introducing future-ready payment solutions, while the enablement of AE Coin acceptance represents another step in expanding payment options and customer choice within the UAE’s digital payments ecosystem.
