UAE’s First AED-Backed Stablecoin Powers Real Estate Payments via Mbank’s AEC Wallet
This milestone highlights EWIG’s leadership in UAE real estate by enabling blockchain-powered payments through AE Coin, the nation’s first AED-backed stablecoin regulated by the Central Bank of the UAE.
Al Maryah Community Bank (Mbank), the UAE’s first fully integrated digital bank, has announced a strategic collaboration with East & West International Group (EWIG) to officially launch AE Coin payment capabilities for property transactions through the AEC Wallet, powered by Mbank. This milestone highlights EWIG’s leadership in UAE real estate by enabling blockchain-powered payments through AE Coin, the nation’s first AED-backed stablecoin regulated by the Central Bank of the UAE.
This partnership marks a major leap forward in the practical application of blockchain in real estate, enabling buyers and tenants to settle payments instantly and securely using AE Coin, while benefiting from lower transaction costs and greater transparency, all within a fully compliant and regulated ecosystem.
Through this collaboration, EWIG becomes a pacesetter in the UAE real estate sector by accepting AE Coin payments, setting a precedent for innovation and customer-centric digital solutions in the real estate space.
Dr. Hussein Abdelqader Harhara, General Manager of EWIG affirmed that this initiative comes as part of the Group’s strategy to enhance efficiency and transparency in real estate transactions, adding:
“We are committed to providing our clients with innovative solutions that align with the latest advancements in financial technology and support the UAE’s vision for a fully integrated digital economy.”
– Dr. Hussein Abdelqader Harhara, General Manager, EWIG
“We are thrilled to partner with East & West International Group, a trusted pioneer in the UAE real estate market. Their readiness to adopt AE Coin payments sets a new standard for innovation in the sector. This is a critical step in accelerating blockchain adoption in high-value, real-world use cases. Together, we are not only digitizing property payments but also shaping the future of financial services in the UAE.”
– Mr. Mohammed Wassim Khayata, Chief Executive Officer, Mbank
“This collaboration with EWIG represents the beginning of real-world blockchain adoption in real estate. As the UAE’s leading real estate developer to offer AE Coin payments through the AEC Wallet, EWIG is leading by example. This isn’t just about accepting a new currency, it’s about transforming the infrastructure behind real estate transactions.”
– Mr. Ramez Rafeek, General Manager, AED Stablecoin
The AEC Wallet is live and available on iOS, Android, and AppGallery, allowing verified users to make instant payments for property transactions, rent, and other real estate services. With this integration, clients of EWIG can now benefit from seamless, real-time settlement while operating within the UAE’s first regulated digital currency framework.
