A trailblazing move puts the UAE at the forefront of innovations in digital payments. Air Arabia has created innovations. They are the first GCC region airline to introduce payment through stablecoins.
This budget airline company has been working with Al Maryah Community Bank, the first properly digitized bank of the UAE, to enable travellers to pay with AE coin.
The airline will use an AED-pegged stablecoin to make payments. However, you can only pay through the AEC-enabled wallet.
Finally, Air ARabia has successfully blended blockchain-powered solutions with mainstream airline transactions. This is a significant reflection of the budget airline company’s forward-looking perceptions. However, experts think that this will not only make payments easier but also help track many international customers!
Dawn of New Airline Payments
AE Coin, the backbone of the latest payment solution, is the first payment pegged to Emirati dirhams based on stablecoins.
The AEd pegging has been done on a 1:1 basis. Therefore, the stablecoin’s value is expected to remain the same or at least stable in the coming time. Otherwise, payments linked to Bitcoin or ETH are quite volatile.
With this latest initiative, Air ARabia can connect the AEC payments wallet with the online ticket kiosks, boosting the number of bookings in quick succession!
