Abu Dhabi National Oil Company will accept stablecoin payments at nearly 980 gas stations

According to CoinDesk, ADNOC Distribution announced the signing of a memorandum of understanding with Al Maryah Community Bank to accept AE Coin stablecoin payments at nearly 980 retail network service stations in the UAE, Saudi Arabia, and Egypt.

Customers can use AE Coin to make payments at fuel pumps, Oasis by ADNOC convenience stores, and car wash services through Al Maryah Community Bank's AEC Wallet. AE Coin is the first stablecoin in the UAE to be licensed by the central bank and is pegged to the dirham at a 1:1 ratio.

ADNOC Distribution CEO Eng. Bader Saeed Al Lamki stated that this move is an important step for the company in bringing secure, regulated digital payments into everyday retail. ADNOC Distribution operates 562 stations in the UAE, 172 stations in Saudi Arabia, and 243 stations in Egypt.