AE Coin Revolutionizes UAE Real Estate Payments
The UAE is taking a groundbreaking step toward modernising real estate transactions with the introduction of AE Coin paymentsāa digital innovation set to reshape the property market. Al Maryah Community Bank (Mbank), the countryās first fully integrated digital bank, has announced a strategic partnership with East & West International Group (EWIG) to launch seamless AE Coin payment capabilities for property-related transactions through the AEC Wallet. This development marks a major milestone, bringing blockchain technology into practical, real-world use across the UAEās real estate sector.
AE Coin is the UAEās first AED-backed stablecoin, fully regulated by the Central Bank of the UAE. By backing the digital currency with the dirham, the system ensures stability, transparency, and complianceāthree essential pillars for widespread adoption. The collaboration between Mbank and EWIG enables buyers, tenants, and investors to complete payments instantly and securely, reducing delays that typically accompany bank transfers and cross-border transactions.
A Pioneering Step for UAE Real Estate
EWIG has become the first major real estate developer in the UAE to formally accept AE Coin for property sales, rent, and service payments. This positions the company as a trendsetter in integrating blockchain with everyday business operations. By embracing AE Coin, EWIG aims to offer customers an easier, faster, and more efficient way to manage payments without the complications of traditional processes.
Dr. Hussein Abdelqader Harhara, General Manager of EWIG, highlighted that the initiative is deeply aligned with the Groupās long-term strategy of promoting transparency and operational efficiency in the property market. He noted that adopting such advanced financial technologies strengthens the UAEās vision to create a fully digitised economy supported by smart financial infrastructure.
Instant Payments and Lower Costs through Blockchain
The introduction of AE Coin offers several advantages:
Instant settlement without waiting for bank clearance
Lower transaction fees compared to conventional banking
Greater transparency, thanks to blockchainās secure and tamper-proof ledger
Faster cross-border transactions for foreign investors
Reduced paperwork and simplified compliance
These benefits make AE Coin a powerful alternative to traditional payment methods, especially in high-value transactions like property purchases, rentals, and service fees.
Mbankās Role in Accelerating Blockchain Adoption
Mbank CEO, Mohammed Wassim Khayata, praised EWIGās initiative, calling it a transformative step for the sector. According to him, integrating AE Coin into real estate isnāt just a technological upgradeāit signifies a shift in how financial services and property transactions will operate in the future. By enabling blockchain-based payments within a regulated framework, both organisations are helping accelerate broader adoption of digital assets in the UAE.
He added that such partnerships reflect a new standard for innovation, especially in fields that involve large transactions and stringent compliance requirements. For residents and investors, this means property payments will soon become as simple as sending a message or making an online purchase.
Supporting Real-World Use Cases for Stablecoins
Ramez Rafeek, General Manager of AED Stablecoin, emphasised that this partnership marks the beginning of blockchain adoption in daily real estate operations. He stated that EWIGās willingness to integrate AE Coin demonstrates forward-thinking leadership and sets an example for other developers across the nation. According to him, this move does not simply introduce an alternative payment methodāit transforms the entire technological infrastructure behind property deals.
AEC Wallet: Now Live for Instant Transactions
The AEC Wallet, powered by Mbank, is now available across all major app stores, including iOS, Android, and Huaweiās AppGallery. After verification, users can utilise the wallet to:
Pay for property purchases
Settle rent payments
Manage service charges
Make instant peer-to-peer transfers
This system is fully compliant with UAE regulations, ensuring that users enjoy modern digital payment capabilities while remaining within the countryās secure financial framework.
A New Era for Real Estate in the UAE
With this collaboration, Mbank and EWIG are driving the UAE into a new era of digital transformation. As blockchain-based payments become mainstream, property transactions are expected to become faster, more transparent, and more efficient. AE Coin not only simplifies payments but also showcases the UAEās commitment to building a future-ready digital economy.
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