Air Arabia, the Sharjah-based low-cost carrier, has partnered with Al Maryah Community Bank (Mbank) to accept AE Coin, the UAE’s first AED-backed stable coin, for flight bookings. This collaboration positions Air Arabia as the first airline in the Middle East and North Africa (MENA) region to offer stable coin-based payments, aligning with the UAE’s vision of a digital-first economy.
What is AE Coin?
AE Coin is a stable coin pegged 1:1 to the UAE Dirham, ensuring price stability and low transaction fees. Developed by Mbank, AE Coin is designed to provide a secure and efficient payment method for everyday transactions.
How to Use AE Coin for Bookings
Customers can utilize AE Coin for flight bookings through the AEC Wallet App. By selecting the AEC Wallet as the payment option on Air Arabia’s official website, passengers can complete transactions seamlessly.
Benefits of Using AE Coin
- Price Stability: Being pegged to the UAE Dirham, AE Coin offers consistent value without the volatility associated with other cryptocurrencies.
- Low Transaction Fees: Transactions made with AE Coin incur minimal fees, making it a cost-effective payment option.
- Enhanced Security: Blockchain technology ensures secure and transparent transactions, reducing the risk of fraud.
Industry Impact
This initiative by Air Arabia marks a significant step in integrating digital currencies into the aviation sector. It reflects a broader trend of adopting blockchain technology to enhance customer experience and operational efficiency. Other regional airlines may follow suit, further embracing digital payment solutions.
Conclusion
Air Arabia’s acceptance of AE Coin for flight bookings exemplifies the airline’s commitment to innovation and customer convenience. As the UAE continues to foster a digitally empowered financial ecosystem, such collaborations pave the way for broader adoption of digital currencies in everyday transactions.
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