Al Maryah Local Bank, the leading integrated digital bank in the United Arab Emirates, has announced a strategic partnership with Al Sharq Al Awsat World Group to launch payment solutions using AE Coin in real estate transactions through the bank-backed AEC wallet. This step is pivotal in accelerating the adoption of blockchain technology in real-world use cases and high-value transactions. The AEC wallet is available on Apple, Android, and App Gallery systems, enabling users who have completed identity verification to make instant payments for purchasing properties, paying rent, and other real estate services. As a pioneer in the real estate sector that accepts AE Coin payments via the AEC wallet, Al Sharq Al Awsat World Group sets a benchmark. This achievement highlights the group's leadership in the UAE's real estate sector by enabling blockchain-based payments using AE Coin—the first Dirham-backed stablecoin regulated by the Central Bank of the UAE. This partnership represents a quantum leap in the practical application of blockchain technology in the real estate market, where buyers and tenants can now settle payments instantly and securely using AE Coin, benefiting from reduced costs and increased transparency within a fully integrated, regulated, and digital framework. Through this collaboration, Al Sharq Al Awsat World Group cements its position as one of the leading entities in the UAE's real estate sector by accepting AE Coin as a means of payment—a move that sets a precedent for adopting customer-focused digital solutions and fostering innovation in the real estate industry. Mr. Mohamed Wasim Khayyat, CEO of Al Maryah Local Bank, stated: "We are proud of our partnership with Al Sharq Al Awsat World Group, one of the leading and trusted names in the UAE's real estate market." Mr. Ramz Rafiq, General Manager of IE D Stablecoin, commented: "This collaboration with Al Sharq Al Awsat World Group marks the true beginning of applying blockchain technology in the real estate sector." Dr. Hussein Abdelqader Herreh, General Manager of Al Sharq Al Awsat World Group, affirmed that this initiative is part of the group's strategy to enhance efficiency and transparency in real estate dealings, adding: "We are committed to providing innovative solutions to our clients that align with the latest advancements in financial technology and contribute to supporting the UAE's vision of transitioning to a fully integrated digital economy. Their readiness to adopt payment solutions via AE Coin represents a new standard of innovation in this sector."
