TL;DR
- The Abu Dhabi Judicial Department now accepts AE Coin, a regulated stablecoin, for court-related payments.
- AE Coin is backed by the UAE Central Bank and pegged to the dirham, ensuring secure and stable transactions.
- The initiative marks a key milestone in the UAE’s push for digital government and fintech integration.
In a landmark step toward digital transformation, the Abu Dhabi Judicial Department (ADJD) has signed a strategic partnership with Al Maryah Bank to enable payments for judicial and legal services using AE Coin, a regulated digital currency. This move makes ADJD the first government entity in the Middle East to officially accept a stablecoin for court-related transactions, signalling the UAE’s deepening commitment to building a secure, tech-driven public sector.
A Pioneering Initiative in the Region
The agreement, described as a “significant leap toward digitising government services and enhancing user experience through innovative financial solutions,” aligns with the UAE’s national strategy to modernise its service infrastructure using advanced fintech.Commenting on the initiative, His Excellency Counsellor Yousef Saeed Al Abri, Undersecretary of the Abu Dhabi Judicial Department, said in the public statement:“This partnership reflects our commitment to continuously modernise the judicial ecosystem and legal services. By diversifying smart payment options and embracing digital currency, we are supporting institutional cooperation and integrating the judicial and financial sectors through advanced technology.”He added:“The agreement forms part of the department’s broader development strategy. It aligns with the vision of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the UAE, Deputy Prime Minister, Chairman of the Presidential Court, Chairman of ADJD, to build a modern and innovative judicial system that embraces rapid digital transformation to ensure swift justice and enhance Abu Dhabi’s global competitiveness.”
What Is AE Coin?
AE Coin is the UAE’s first regulated stablecoin, officially licensed by the Central Bank of the UAE and launched in December 2024. Developed by IED Stablecoin, AE Coin is designed to offer a secure, compliant, and efficient alternative to traditional payment methods within the country’s digital economy.What sets AE Coin apart is its 1:1 peg to the UAE Dirham, meaning that each AE Coin holds the same value as one dirham. This peg ensures price stability, making the coin suitable for everyday transactions, unlike typical cryptocurrencies, which can experience extreme price swings.Unlike speculative crypto assets, AE Coin is built for practical, real-world use cases, including government payments, public transport, and retail transactions. It leverages blockchain technology for transparent and immutable settlement, offering users a fast and secure payment experience.The coin is also fully regulated, with oversight by the Central Bank, and is backed by reserves managed by trusted financial institutions. This regulatory compliance provides both businesses and individuals with a high level of financial security and confidence in the currency’s long-term utility.According to Ramez Rafiq, General Manager of IED Stablecoin (the developer behind AE Coin), this collaboration is a landmark moment for the UAE’s digital economy.“AE Coin was developed to be a secure, efficient, and regulatory-compliant digital payment solution tailored for the UAE. Its adoption by such a prominent government entity marks a pivotal moment for us and the region’s evolving digital finance landscape. This collaboration reflects the leadership’s trust in homegrown innovation and strengthens AE Coin’s role in building the country’s financial digital infrastructure.”
Al Maryah Bank’s Role in Public-Sector Fintech
Al Maryah Bank is the financial partner facilitating AE Coin’s integration into the judicial system. Senior executives from the bank described the collaboration as a breakthrough for digital financial services in the region.“This partnership embodies our mission to foster banking innovation and reinforce the UAE’s leadership in digital financial services. By enabling judicial payments via AE Coin, we are not only streamlining access to government services but also setting a benchmark for how technology can serve the public good in a secure and future-ready manner,” said Omar Al Zaabi, Vice Chairman of Al Maryah Bank.Obaid Al Kaabi, Board Member of the bank, added:“We are proud to be part of this transformative achievement that enhances trust, transparency, and accessibility in public services. Integrating AE Coin within a major institution like ADJD underscores our commitment to accelerating digital transformation and contributing to a more inclusive financial future.”And Mohammed Wassim Khayata, CEO of Al Maryah Bank, remarked:“We take pride in supporting the Abu Dhabi Judicial Department in realising this forward-looking initiative. It’s not merely a technological step; it’s about delivering advanced, secure financial experiences that reflect the UAE’s values and future vision.”The move is not only a first in the region, it’s being seen as a template for how digital currencies can integrate into government services. With AE Coin now operational for court-related payments through the AEC Wallet, citizens and businesses can expect faster, more transparent transactions, with enhanced accessibility and efficiency.
FAQs:
Q. What is AE Coin? AE Coin is a UAE-regulated stablecoin pegged 1:1 to the dirham, designed for secure, digital transactions.Q. Who can use AE Coin for payments? Anyone using judicial services through ADJD can pay using AE Coin via the AEC Wallet.Q. Is AE Coin a cryptocurrency like Bitcoin? No. Unlike volatile cryptocurrencies, AE Coin is stable, fully regulated, and tied to the UAE Dirham.Q. Why is this important? It streamlines government payments, promotes digital adoption, and sets a regional precedent for using digital currency in public services.
