The first structured AED–USD digital conversion solution powered by Mbank.
AE Coin, the UAE’s first AED-pegged stablecoin licensed by the Central Bank of the UAE, and USD Universal (USDU) have announced a strategic partnership to create a regulated AED–USD digital conversion framework powered by Al Maryah Community Bank (Mbank).
The initiative introduces an automated conversion mechanism between USDU and AE Coin, allowing near-instant exchanges between USD- and AED-denominated payment tokens within the UAE’s regulatory environment. The framework is intended to support virtual asset settlements, treasury functions, and liquidity management while ensuring compliance with local payment regulations.
Beyond digital token conversion, the partnership represents an initial move toward establishing a dollar-based trade finance stablecoin infrastructure within the UAE’s regulated digital asset ecosystem. The companies also plan to explore integrations with fintech platforms focused on cross-border trade finance, positioning the framework as a foundation for compliant multi-currency digital settlements and future trade finance solutions.
Alongside institutional use cases, the framework is also expected to support consumer applications, including allowing USD Universal (USDU) holders to convert funds into AE Coin and top up the AEC Wallet for regulated domestic digital payments.
Initial access to the USDU–AE Coin conversion service within the ecosystem will be available through Changer.ae, an FSRA-regulated digital asset custodian, and Aquanow, a VARA-licensed broker-dealer, enabling compliant access and execution under the UAE’s regulatory framework.
“The future of digital finance in the UAE requires a secure, regulated bridge between local and global markets,” said Juha Viitala. “As the first USD stablecoin registered under the CBUAE’s PTSR framework, USD Universal (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 supports the UAE’s vision of creating a secure and efficient digital financial ecosystem,” said Mohammed Wassim Khayata. “By connecting AED and USD payment tokens within a compliant framework, we are establishing the foundation for scalable digital settlement and the modernisation of cross-border financial flows.”
Ramez Rafeek added: “The initiative reinforces the UAE’s position as a leader in payment token innovation while expanding practical financial use cases. The strategic partnership also creates a framework for broader institutional integrations and new digital settlement applications aligned with the UAE’s evolving regulatory standards.”
