UAE EWIG now using AE Coin for property transactions

Mbank, and AECoin announced on X that UAE based real estate company East & West International Group (EWIG) will be using AED backed regulated stablecoin AE Coin becoming the first developer to accept AE Coin.

EWIG will utilize AE Coin for instant secure and transparent property payments through the AEC Wallet.

As per the post, “This partnership marks a major step toward real-world blockchain adoption, transforming how buyers and tenants transact in the UAE’s real estate market.”

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, noting their commitment to providing 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.”

Mr. Mohammed Wassim Khayata, Chief Executive Officer of Mbank, stated, “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 digitising property payments, but also shaping the future of financial services in the UAE.”

Mr. Ramez Rafeek, General Manager of AED Stablecoin, added, “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.”

Already AE Coin is being used by several entities across the UAE, being the first AED regulated stablecoin.

In June 2025, Abu Dhabi transport Department and Municipalities under the Integrated Transport Center (ITC) of the Department of Municipalities and Transport, Tawasul Transport, will allow passengers to use the AE Coin stablecoin by Al Maryah Community Bank (Mbank) AEC Wallet application.

UAE based Air Arabia airline also started accepting the AED stablecoin, AE Coin, for payments such as flight booking. The airline is the first in MENA to offer a stablecoin based payment option. Users can book their flights using the AEC Wallet application developed by MBank.

Mbank was the the first bank to be offering the AE Coin licensed stablecoin. It became the first bank to make the first-ever regulated stablecoin in the United Arab Emirates available through its AEC wallet.