Abu Dhabi Launches World’s First Stablecoin Taxi Payment System with AE Coin

In a new move toward digital transformation in public transport, Tawasul Transport, in partnership with Al Maryah Community Bank (Mbank) and under the supervision of the Integrated Transport Center (ITC), has introduced the world’s first stablecoin-based taxi payment system in Abu Dhabi.

Starting this week, passengers can pay for their rides in Tawasul taxis using AE Coin, a UAE dirham–pegged digital currency, via the AEC Wallet app.

The initiative positions Abu Dhabi at the forefront of global fintech adoption in mobility, seamlessly integrating blockchain technology into daily commuting.

The official launch included a live demonstration of the first-ever AE Coin taxi transaction, symbolizing a broader shift in the emirate's approach to smart and sustainable transportation.

"This initiative reflects Abu Dhabi’s commitment to innovation and digital excellence,” said a representative from the Department of Municipalities and Transport. “By enabling stablecoin payments in taxis, we are redefining convenience and security for everyday mobility.”

The AEC Wallet is designed for speed, ease, and safety. Passengers simply scan a QR code inside the vehicle to pay, with the AE Coin maintaining a 1:1 peg with the UAE dirham, ensuring price stability and user trust.

Available for download across the Apple Store, Google Play, and Huawei AppGallery, the AEC Wallet offers an intuitive interface, secure transactions, and reduced transfer fees — features that support the UAE’s broader digital economy strategy.

Beyond convenience, the collaboration between Tawasul and Mbank is part of a larger vision to enhance Abu Dhabi’s status as a regional and global hub for fintech innovation and smart mobility.

This launch highlights how deeply embedded digital assets have become in everyday life. What was once considered a niche financial innovation is now integrated into even the smallest daily activities, including something as routine as paying for a taxi.

By enabling stablecoin payments for public transport, Abu Dhabi is sending a clear signal: the digital asset industry is no longer confined to trading platforms or fintech circles; it’s becoming a functional part of the urban experience.