The region’s first airline to support payments in cryptocurrency for flights is Air Arabia. The firm has teamed up with Al Maryah Community Bank (Mbank) to allow passengers to pay in AE Coin, a stablecoin that is backed the same as the UAE Dirham.
Now, users of the AEC Wallet App can purchase international tickets with their AE Coin. The move will play an important part in making the UAE a digital-led economy.
AE Coin was created by AED Stablecoin, giving airline passengers the benefit of stable prices, low costs for transactions and secure processing.
Users making purchases on the site can now use the AEC Wallet to pay, resulting in an easier, cash-free online booking.
The Group CEO of Air Arabia, Adel Al Ali, said:
We are excited to partner with Mbank to present AE Coin as a safe and new way to make payments. It means we are committed to using technology to improve the journey our customers take.
Mohammed Wassim Khayata, CEO of Mbank, said:
With Air Arabia, we now provide travelers a secure and affordable way to pay for their bookings online. It fits with the UAE’s plan for building an inclusive digital economy.
Ramez Rafeek, General Manager of AED Stablecoin, pointed out how this would affect the region as a whole.
The use of AE Coin in airline bookings makes payment faster and easier, showing that digital currencies are more widely available to everyone.
Because of this decision, more airlines across the Gulf may begin supporting passengers using digital currency for their travel.
