UAE Telecom Leader e& Launches Pilot for Bill Payments Using Dirham Stablecoin

e& and Al Maryah Community Bank Collaboration: The UAE telecom giant e& has signed a memorandum of understanding with Al Maryah Community Bank to explore the use of a dirham-pegged stablecoin for consumer payments, aiming to enhance digital finance in the region.

Pilot Program for AE Coin: The initiative will test the integration of AE Coin, a stablecoin licensed by the Central Bank of the UAE, into e&'s payment systems, allowing customers to use it for various services like bill payments and mobile recharges.

Potential for E-commerce Integration: e& plans to consider future integration of the stablecoin into e-commerce platforms, positioning it as a viable alternative payment method within the UAE's consumer ecosystem.

Exploratory Nature of the Initiative: While the collaboration indicates a growing interest in regulated digital finance, it remains in the early pilot stage, with undefined timelines and scope for real-world adoption.