CoinVoice has recently learned that, according to CoinDesk, ADNOC Distribution has announced the signing of a memorandum of understanding with Al Maryah Community Bank to accept AE Coin stablecoin payments at nearly 980 retail network service sites in the UAE, Saudi Arabia, and Egypt.
Customers can use AE Coin at fuel pumps, Oasis by ADNOC convenience stores, and car wash services through the AEC Wallet of Al Maryah Community Bank. AE Coin is the first stablecoin in the UAE to be licensed by the central bank and is pegged to the dirham at a 1:1 ratio.
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 everyday retail. ADNOC Distribution operates 562 sites in the UAE, 172 sites in Saudi Arabia, and 243 sites in Egypt. [Original link]
