e& UAE, the telecommunications pillar of e&, has signed a Memorandum of Understanding (MoU) with the AE Coin project to explore the integration of stablecoin payments. This strategic move signals a significant step by the UAEโs leading telecom operator into the evolving landscape of Web3 technologies and digital assets.
A Strategic Push into Web3 Payments
The collaboration will focus on a proof of concept (PoC) to test and enable AE Coinโs stablecoin payment solutions across e& UAEโs diverse range of products and services. The partnership aims to provide customers with more flexible and secure payment options, leveraging the stability and efficiency of asset-backed digital currencies.
Khaled El Khouly, Chief Consumer Officer at e& UAE, commented on the initiative, stating, โOur collaboration with AE Coin is a strategic move that will accelerate our transformation and reinforce our commitment to delivering outstanding customer experiences.โ
He added, โBy integrating stablecoin payments, we are not only providing our customers with a new and convenient payment method but also positioning e& UAE at the forefront of digital innovation.โ
The Proof of Concept Details
Under the MoU, the PoC will evaluate the technical feasibility and potential benefits of incorporating stablecoin payments into e& UAEโs existing infrastructure. Beyond payments, the partnership will also explore the development of innovative Distributed Ledger Technology (DLT) solutions tailored to the telecomโs extensive customer base.
Mikhail Gutov, a representative from the AE Coin project, highlighted the projectโs foundation. โAE Coin is a project supported by the DMCC Crypto Centre. Our primary goal is to provide a stablecoin payment solution that simplifies transactions for individuals and businesses. This MoU is a significant step towards achieving that goal, and we are excited to work with a forward-thinking company like e& UAE.โ
Aligning with the UAEโs Digital Vision
This initiative is in line with the UAEโs broader strategy to establish itself as a global hub for digital assets and blockchain technology. By embracing emerging financial technologies, e& UAE is contributing to the nationโs vision of a robust and innovative digital economy. The move could set a precedent for other major corporations in the region to explore similar Web3 integrations.
About e& UAE
e& UAE is the telecommunications pillar of e& in the UAE. The company is dedicated to providing innovative solutions and services to its customers, from mobile and fixed-line services to a range of smart living and digital solutions. As a key player in the UAEโs digital transformation, e& UAE continuously seeks to leverage cutting-edge technologies to enhance customer experiences.
Source: Zawya
