ABU DHABI: Air Arabia, the Middle East and North Africa's first and largest low-cost carrier operator, has partnered with Al Maryah Community Bank (Mbank), the UAE's first fully integrated digital bank, to enable the use of AE Coin payments for flight bookings via the AEC Wallet App. This collaboration positions Air Arabia as the first airline in the region to offer stablecoin-based payments, reflecting its commitment to innovative digital solutions for its customers.
According to Emirates News Agency, AE Coin, the UAE's first AED-backed stablecoin, is pegged 1:1 to the UAE Dirham, providing price stability, security, and low transaction fees. With this new integration, Air Arabia customers can now choose the AEC Wallet at checkout when booking through the airline's website, offering a convenient payment alternative in line with the UAE's vision of a digital-first economy.
Adel Al Ali, Group Chief Executive Officer of Air Arabia, expressed pride in the partnership with Mbank to introduce AE Coin as a secure and innovative payment option. He emphasized Air Arabia's commitment to digitalization across its operations and noted that this partnership enhances the customer experience through technology. The introduction of the AEC Wallet as a payment option is part of ongoing efforts to adopt smart solutions that provide greater value, choice, and flexibility to customers.
Mohammed Wassim Khayata, CEO of Mbank, remarked on the alignment between Air Arabia's reputation as a leading low-cost carrier and Mbank's mission to offer accessible, secure, and affordable digital payment solutions. He highlighted the partnership's role in enhancing the booking process and contributing to the UAE's broader goal of a digitally empowered financial ecosystem.