Air Arabia, a leading budget airline based in Sharjah, has announced it will now accept stablecoin payments for ticket bookings. This marks the first time an airline in the region has integrated stablecoin-based transactions into its payment system. The company has partnered with Al Maryah Community Bank (Mbank), the UAE’s first fully integrated digital bank, to facilitate these payments through the AEC Wallet App.
AE Coin, the stablecoin chosen for this partnership, is pegged 1:1 to the UAE dirham, ensuring price stability and security. It is the first AED-backed stablecoin in the UAE, designed to offer low transaction fees and seamless payments. Air Arabia’s customers can now select the AEC Wallet as a payment option on the airline’s website when booking their flights.
Air Arabia Enhancing Customer Experience through Digital Innovation
Adel Al Ali, Group CEO of Air Arabia, emphasized the airline’s commitment to digital transformation. He stated the collaboration with Mbank will enhance the overall customer experience by introducing smart, flexible payment solutions. The initiative aligns with Air Arabia’s goal to provide value, choice, and convenience to its passengers through technological innovation.
Read More: Essential Safety Tips for Secure Cryptocurrency Trading
UAE’s Growing Stablecoin Ecosystem with Air Arabia
Earlier this year, three prominent UAE organizations — HC, ADQ, and First Abu Dhabi Bank — launched the AE Coin stablecoin, backed by dirhams. Stablecoins are cryptocurrencies pegged to stable assets like fiat currencies or gold, designed to avoid volatility. This launch is part of the UAE’s efforts to develop a robust digital financial ecosystem.
Supporting UAE’s Digital Financial Goals
Mohammed Wassim Khayata, CEO of Mbank, highlighted that the partnership will simplify the flight booking process for customers. He also noted that the initiative contributes to the UAE’s broader vision of creating an inclusive, digitally empowered financial landscape. This collaboration sets a new benchmark for payment innovation in the region’s aviation sector.
You May Also Like:
- Happy Bitcoin Pizza Day: Major Milestones in Cryptocurrency History
- Dubai Hotel Partners with Bybit Cryptocurrency Exchange to Offer Discounts
- Bitcoin Surpasses All-Time High: $500,000 Predicted by 2029, Analysts Say
- Top 6 Best Crypto Coins to Invest In Now Before the Next Bull Cycle Begins
- UAE’s FinTech Ecosystem Thrives on Ease of Doing Business and Access to Regulators
Prospects of Crypto Payments in UAE Aviation
With Air Arabia leading the way, more airlines in the region may adopt crypto payment options soon. This development could drive widespread acceptance of stablecoins for everyday transactions, promoting financial inclusivity. The use of AE Coin signals a significant shift towards embracing blockchain technology in mainstream services across the UAE.
Conclusion
Air Arabia’s integration of AE Coin stablecoin payments strengthens its position as a pioneer in digital transformation. By partnering with Mbank, the airline is enhancing customer convenience while supporting the UAE’s ambition to become a global hub for digital finance. This initiative reflects the growing convergence of the aviation and fintech sectors in the region.
Follow 10X Times.com for more business news.
