Leading UAE Fuel Retailer to Introduce Stablecoin Payments Across 980 Stations

In a significant development, ADNOC Distribution, the largest fuel and convenience retailer in the UAE, is set to introduce AE Coin stablecoin payments across its vast network of nearly 980 service stations spanning the United Arab Emirates, Saudi Arabia, and Egypt. This move follows a memorandum of understanding signed with Al Maryah Community Bank, enabling customers to utilize AE Coin via the bank's AEC Wallet for transactions at fuel pumps, convenience stores, and car washes. The integration of AE Coin marks a pioneering example of a sovereign-backed digital asset being utilized in everyday commerce, potentially paving the way for a shift in how governments and private entities experiment with blockchain-based payment systems. According to Eng. Bader Saeed Al Lamki, CEO of ADNOC Distribution, this initiative represents a substantial step towards introducing secure, regulated digital payments into everyday retail. The company currently operates 562 stations in the UAE, 172 in Saudi Arabia, and 243 in Egypt. Notably, AE Coin is the UAE's first licensed stablecoin, backed 1:1 with dirhams by the Central Bank, and its adoption by ADNOC Distribution signifies its entry into real-world retail, where it can be used by millions across nearly 1,000 sites.