Al Maryah Community Bank (Mbank), the UAE’s pioneering digital bank, has entered a strategic partnership with 7X, a top trade, transport, and logistics group. This collaboration seeks to facilitate blockchain-driven digital payments using AE Coin, the UAE’s first AED-pegged stablecoin, authorized by the Central Bank of the UAE, across 7X’s logistics, e-commerce, and digital services nationwide.
Through this alliance, customers within the 7X network will soon be able to use AE Coin to settle payments for postal, courier, express delivery, logistics, e-commerce, and digital services, enjoying secure, instant, and fully regulated digital transactions. This initiative supports the UAE’s digital economy strategy and strengthens its position as a leading hub for next-gen financial services.
Tariq Al Wahedi, Group CEO of 7X, stated: “Digital payments are a natural addition to the national trade, transport, and logistics infrastructure, seamlessly connecting people, businesses, and governments. Our partnership with Al Maryah Community Bank combines AE Coin’s AED-backed, regulated digital currency with our logistics network, allowing for faster, secure, and convenient payments. This supports the UAE’s vision for a digital economy, enhancing customer experience, and creating new opportunities for SMEs and e-commerce merchants in a cashless future.”
Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, commented: “This partnership is a significant step in the evolution of digital finance and payments in the UAE. By incorporating AE Coin into nationwide postal, e-commerce, and delivery services, we are expanding blockchain use and supporting the UAE’s vision of a smart economy. Together with 7X, we’re offering faster settlements, lower costs, and a secure payment ecosystem, setting new standards for innovation in logistics and services.”
Ramez Rafeek, General Manager of AED Stablecoin LLC, added: “Mbank and 7X are harnessing the power of digital payments with AE Coin across logistics, e-commerce, and digital platforms both in the UAE and globally. This partnership boosts the adoption of regulated stablecoins, providing businesses and consumers with instant settlements, lower costs, and increased transparency. It also reinforces the UAE’s status as a global financial innovation hub, using AE Coin for everyday transactions under a strong regulatory framework.”
This agreement aligns with 7X’s vision to enhance smart, tech-driven services across its ecosystem, which includes NXN, EMX, FINTX, EDC, Emirates Post, and digital platforms Waslah and Wayn. The partnership advances the integration of digital payment tech with logistics infrastructure, ensuring seamless customer experiences.
AE Coin acceptance will be rolled out in phases across the UAE, enabling secure, instant payments through the AEC Wallet, Mbank’s blockchain-enabled digital wallet for individuals, SMEs, and corporates.
