The UAE's largest fuel retailer accepts payments using stablecoin

ADNOC Distribution accepts payment with AE Coin stablecoin at nearly 1,000 service stations

ADNOC Distribution, the largest fuel retailer and convenience store chain in the UAE, will begin accepting payments with AE Coin stablecoin across its network of nearly 980 service stations in the UAE, Saudi Arabia, and Egypt. This is considered a significant step forward in integrating government-backed digital assets into daily shopping and consumption activities.

According to the (MOU) cooperation agreement with Al Maryah Community Bank, customers can use AE Coin via the AEC Wallet to pay at gas stations, Oasis convenience stores by ADNOC, and car wash services. ADNOC Distribution currently operates 562 stations in the UAE, 172 stations in Saudi Arabia, and 243 stations in Egypt.

AE Coin is the first stablecoin in the UAE licensed by the Central Bank, backed 1:1 by the dirham. ADNOC Distribution’s large-scale deployment of AE Coin demonstrates the potential for blockchain applications in retail payment systems, while also reflecting how governments and businesses are experimenting with secure, tightly regulated digital payment models.

ADNOC Distribution CEO, Mr. Bader Saeed Al Lamki, said this move is part of a strategy to bring highly secure, managed digital payment solutions into everyday life, expanding payment options for millions of customers in the region.