Network International, a leading digital payments enabler in the Middle East and Africa, has made history by becoming the first payments platform in the United Arab Emirates to support stablecoin transactions through the acceptance of AE Coin.
The milestone follows the signing of a Memorandum of Understanding (MoU) with Al Maryah Community Bank (MBank). Under the partnership, AE Coin – the UAE’s first Central Bank-licensed, fully reserved, and AED-denominated stablecoin – will be integrated into Network’s point-of-sale (POS) terminals and e-commerce platforms. This will allow merchants to accept the stablecoin seamlessly in both physical stores and online channels.
The move empowers Network’s merchant network to offer customers a secure, innovative alternative payment method, enhancing flexibility and convenience while aligning with the UAE’s push for financial innovation and a robust digital economy.
Murat Cagri Suzer, Group CEO of Network International, hailed the development as a key advancement: “As the first payments platform to enable Stablecoin acceptance in the UAE, our partnership with MBank is an important milestone to bringing regulated AE Coin payments into everyday commerce. Network’s payments infrastructure will enable secure and compliant AE Coin acceptance across POS and e-commerce channels, giving businesses and consumers greater flexibility and enhanced choice, while advancing the adoption of next-generation payment capabilities at scale.”
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Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, echoed the sentiment, stating: “This partnership represents a significant step forward in bringing regulated digital payments into everyday commerce in the UAE. By working with Network International to enable AE Coin acceptance through the AEC Wallet, we are expanding secure, compliant payment options for merchants and consumers alike. At Mbank, our focus remains on supporting innovation that is fully aligned with regulatory frameworks while delivering real value to the market.”
Ramez Rafeek, General Manager of AED Stablecoin LLC, added: “Enabling AE Coin acceptance across Network International’s POS and e-commerce infrastructure marks an important milestone in the evolution of regulated stablecoin payments in the UAE. This collaboration demonstrates how a Central Bank-licensed, AED-denominated stablecoin can be seamlessly integrated into existing payment ecosystems, supporting real-world use cases at scale. It reflects the UAE’s leadership in building a trusted, future-ready digital payments environment.”
The partnership underscores the UAE’s growing prominence in digital assets, bolstered by strengthened regulations and infrastructure. Experts say the country is well-positioned to lead the region in stablecoin adoption.
