Air Arabia has become the first airline in the region to offer stablecoin-based payment. The Sharjah-based budget carrier has partnered with Al Maryah Community Bank (Mbank), the UAE’s first fully integrated digital bank, to enable AE Coin payments for flight bookings through the AEC Wallet App.
As the UAE’s first AED-backed stablecoin, AE Coin is pegged 1:1 to the UAE dirham, ensuring price stability, security, and low transaction fees. With this integration, Air Arabia’s customers can now select the AEC Wallet at checkout when booking via the airline’s website.
Adel Al Ali, Group CEO of Air Arabia, said that the company was “committed to embracing digitalisation” across all of its operations and that this partnership will “enhance customer experience through technology” by giving them smart solutions that offer value, choice and flexibility.
In April, three major companies in the UAE — HC, ADQ and First Abu Dhabi Bank — launched the stablecoin backed by dirhams. A form of cryptocurrency, stablecoins are designed to maintain their value by pegging their prices to a stable asset, such as fiat currency and gold, etc.
“Through this partnership, we are not only enhancing the booking process but also contributing to the UAE’s broader goal of creating a truly inclusive, digitally empowered financial ecosystem,” said Mohammed Wassim Khayata, CEO of Mbank.
