In a groundbreaking move, Al Maryah Community Bank (Mbank), the UAE’s first fully integrated digital bank, has partnered with East & West International Group (EWIG) to introduce AE Coin as a payment solution for real estate transactions. This collaboration signifies a transformative step in the practical application of blockchain technology within the real estate sector, offering buyers and tenants a secure, instant, and cost-effective payment method. AE Coin, the UAE’s first AED-backed stablecoin regulated by the Central Bank of the UAE, is now accessible through the AEC Wallet, powered by Mbank. This initiative underscores EWIG’s leadership in the UAE real estate market by pioneering blockchain-powered payments. The partnership aims to enhance transaction efficiency, transparency, and compliance within a regulated ecosystem. Dr. Hussein Abdelqader Harhara, General Manager of EWIG, emphasized the Group’s commitment to innovation and alignment with the UAE’s vision for a digital economy. Mohammed Wassim Khayata, CEO of Mbank, highlighted the collaboration as a milestone in accelerating blockchain adoption in high-value use cases. Ramez Rafeek, General Manager of AED Stablecoin, noted that this initiative marks the beginning of real-world blockchain adoption in real estate. The AEC Wallet is now available on iOS, Android, and AppGallery, enabling verified users to make instant payments for property transactions, rent, and other real estate services. This integration ensures seamless, real-time settlements within the UAE’s first regulated digital currency framework.
Mbank and East & West International Group lead the future of real estate payments with AE Coin
