MENA payments platform, Network International integrates AED stablecoin payments
Network International, a MENA based fintech company announced that it has become the first payments platform to enable regulated AED Stablecoin payments in the UAE using AE Coin in collaboration with Al Maryah Community Bank (Mbank), which will enable merchants in UAE to accept AE Coin across physical and digital channels.
Network International will integrate AE Coin, the UAE’s first Central Bank-licensed, fully reserved, AED-denominated stablecoin, into Network’s POS and E-commerce payment platforms, enabling merchants to accept AE Coin seamlessly across physical and digital channels.
Ramez Rafeek, General Manager of AED Stablecoin LLC, noted, “This collaboration demonstrates how a Central Bank -licensed, AED-denominated stablecoin can be seamlessly integrated into existing payment ecosystems, supporting real-world use cases at scale. It reflects the UAE’s leadership in building a trusted, future-ready digital payments environment.”
According to the press release, this aligns with Network’s broader strategy to expand its digital payment ecosystem and reinforce its role in supporting alternative and next-generation payment methods in the UAE.
Murat Cagri Suzer, Group CEO of Network International, stated that being the first payments platform to enable stablecoin acceptance in UAE is a milestone, and will offer secure and compliant AE Coin giving consumers and businesses greater flexibility and enhanced choice.
While Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, believes that the partnership brings regulated digital payments into everyday commerce in the UAE. He notes, ” At Mbank, our focus remains on supporting innovation that is fully aligned with regulatory frameworks while delivering real value to the market.”
AE Coin through Mbank has signed multiple agreements across the UAE to incorporate AE Coin into the payments infrastructure of the country. Recently e& UAE, the telecom arm of global technology group e&, signed an MOU with Al Maryah Community Bank (Mbank) to enable AE Coin payments across select e& channels and digital touchpoints such as bill payments and digital transactions.
