UAE telecom giant e& pilots Dirham stablecoin payment system

According to Cointelegraph, UAE telecom giant e\& has signed a memorandum of understanding with Al Maryah Community Bank to test the application of the Dirham stablecoin (AE Coin) in its payment infrastructure.

The pilot project will allow users to pay mobile bills, household service fees, and recharge prepaid lines using this stablecoin, which is licensed by the Central Bank of the UAE. e\& Group CEO Hatem Dowidar stated that this stablecoin enables "instant settlement, complete transparency, and frictionless access."