First structured AED–USD digital conversion powered by Mbank, supporting compliant digital asset settlement in the UAE.
Abu Dhabi, UAE – 7 May 2026
AE Coin, the UAE’s first AED-pegged stablecoin licensed by the Central Bank of the UAE, and USD Universal (USDU), a USD-backed stablecoin regulated by the Financial Services Regulatory Authority (FSRA) in Abu Dhabi Global Market (ADGM) and registered by the Central Bank of the UAE as a Foreign Payment Token under the Payment Token Services Regulation (PTSR), have announced a strategic collaboration to develop a regulated AED–USD digital conversion framework, powered by Al Maryah Community Bank (Mbank).
The initiative establishes an automated conversion mechanism between USDU and AE Coin, enabling near-instant exchange between USD- and AED-denominated payment tokens within the UAE’s regulatory framework. The structure is designed to support virtual asset market settlement, treasury operations, and liquidity management while maintaining compliance with domestic payment regulations.
Beyond token conversion, the collaboration marks the first step toward building a dollar-based trade finance stablecoin infrastructure originating from the UAE’s regulated digital-asset ecosystem. The partners intend to explore integration with fintech platforms specializing in cross-border trade finance, positioning the framework as a foundation for compliant multi-currency digital settlement and future trade-finance applications.
In addition to institutional applications, the framework envisions practical use cases, including enabling USDU holders to convert into AE Coin and top up the AEC Wallet for regulated domestic digital transactions.
Within the ecosystem, initial access to the USDU–AE Coin conversion will be provided through Changer.ae, an-FSRA regulated digital asset custodian, and Aquanow, a VARA-licensed Broker-Dealer, facilitating compliant access and execution within the UAE’s regulatory framework.
“The future of digital finance in the UAE requires a secure, regulated bridge between local and global markets,” said Mr. Juha Viitala, Senior Executive Officer of Universal Digital INTL Limited. “As the first USD stablecoin registered under the CBUAE’s PTSR framework, USDU is positioned to deliver institutional-grade settlement.
Automating conversion between USDU and AE Coin reduces friction and enables near-instant value exchange, supported by regulated providers such as Changer and Aquanow.” “This collaboration advances the UAE’s vision of building a secure and efficient digital financial environment,” said Mr. Mohammed Wassim Khayata, CEO of Al Maryah Community Bank. “By bridging AED and USD payment tokens within a compliant structure, we are laying the groundwork for scalable digital settlement and the modernization of cross-border financial flows.”
Mr. Ramez Rafeek, General Manager of AED Stablecoin LLC, added that the initiative strengthens the UAE’s leadership in payment token innovation while expanding real-world financial use cases. The strategic agreement establishes a framework for further institutional integrations and new digital settlement use cases aligned with evolving regulatory standards in the UAE.
About AE Coin
AE Coin is a next-generation stable digital currency regulated by the Central Bank of the UAE, offering secure, transparent, and efficient financial services. Focused on local payments, DeFi integration, and innovative rewards systems, AE Coin is redefining how users interact with digital money. Headquartered in Abu Dhabi, AE Coin leads the region in digital-finance innovation.
📞 +971 2 509 6006 ✉️ info@aecoin.com 🌐 www.aecoin.com
About Al Maryah Community Bank
Al Maryah Community Bank is the first fully integrated digital bank in the UAE, providing an omnichannel experience for both individual consumers and small businesses. The bank is highly specialized, focusing on growth and serving the UAE community, which includes UAE Nationals, residents, and businesses (both SMEs and corporates). The bank’s vision aligns with that of the UAE’s leaders, who are committed to supporting individuals and small businesses within the UAE economy and fostering a forward-thinking culture that emphasizes innovation and technology.
For further information, please contact us on 600571111 or info@mbankuae.com.
About Universal
Universal Digital Intl Limited (“Universal”) is established in ADGM and regulated by the FSRA (FSP No. 250089) to issue a Fiat-Referenced Token to Professional Clients only. Universal is also a Registered Foreign Payment Token Issuer with the CBUAE under the PTSR and is the issuer of USDU, a fully USD-backed stablecoin and a Registered Foreign
Payment Token by the CBUAE, which may be used for UAE Domestic payment of Digital Assets and Digital Assets Derivatives. USDU may not be used for general payment purposes in the mainland UAE (i.e. UAE domestic payments).
Committed to pioneering secure, transparent, and fully regulated digital assets, Universal drives innovation within the UAE’s expanding digital asset ecosystem through trusted institutional-grade solutions.
This communication is for information purposes and is intended for Professional Clients only. Under no circumstances shall this communication be deemed or construed as a direct or indirect offer to sell or a solicitation of an offer to purchase or subscribe for any securities or any offer to sell any product.
www.universal.ae
About Aquanow Aquanow is a leading institutional digital asset Infrastructure provider powering crypto financial services in partnership with banks, neobanks, brokerages, payment companies worldwide. Aquanow maintains a global presence with regional teams across North America, Middle East, Europe and Asia. Founded in 2018, the company now facilitates billions of dollars in monthly cryptocurrency brokerage and crypto payment transactions, delivering secure, compliant, and scalable solutions.
In the UAE, Aquanow operates via Aquanow ME FZE, which is incorporated in Dubai World Trade Centre, under license number L-2795 and regulated by Dubai’s Virtual Assets Regulatory Authority with license (VL/24/01/001) activities including Broker-Dealer Services, Lending and Borrowing Services and Management and Investment Services. Virtual assets come with risks, including price fluctuations and the chance of losing your investment. They aren’t covered by financial protections, so it’s important to understand these risks fully.
For more information, visit aquanow.com.
