After the agreement between Al Maryah Community Bank (MBank) and the Abu Dhabi Judicial Department (ADJD) to enable AE Coin payments for judicial services, the first legal firm in UAE, Mohammed Sultan Al-Naimi Advocates and Legal Consultations is now accepting legal fees via AE Coin, the nation’s first Central Bank-regulated AED stablecoin.
Users through the AEC Wallet will be able to make secure, efficient, and compliant payments for legal services.
“As a forward-thinking legal firm, we are proud to align with national efforts to digitalize services across sectors,” said Mohammed Al Nuaimi, Founder of Mohammed Sultan Al-Naimi Advocates and Legal Consultations. “Accepting AE Coin enables us to offer our clients a seamless, transparent, and locally compliant payment option, setting a new standard for legal practice in the region.”
As the UAE’s first fully digital bank and banking partner for AE Coin, MBank provides the secure infrastructure and regulatory framework that powers AE Coin transactions via blockchain technology.
Mohammed Wassim Khayata, CEO of MBank, commented, that they are working to embed blockchain powered financial solutions into every day services. He explained, “This partnership is a powerful example of how the banking and legal sectors can work together to drive innovation while upholding trust and compliance.”
Ramez Rafeek, General Manager of AED stablecoin, noted that this was a landmark use case and sets the stage for wider acceptance of digital payments in the legal industry within the UAE.
UAE’s ADJD was the first government entity to use AED stablecoin
In a previous Cryptopolitan article, the Abu Dhabi Judicial Department (ADJD) partnered with Al Maryah Bank (MBank) to introduce the use of digital currency for the payment of judicial and legal service fees. ADJD was the first governmental entity in the Middle East to accept an AED stablecoin, AE Coin, for payment for court related transactions.
Prior to this, UAE based Air Arabia airline also accepted AED stablecoin, AE Coin, for payments such as flight booking. The airline is the first in MENA to offer a stablecoin based payment option.
The UAE has become one of the leading destinations for stablecoin, and crypto payments either directly using a regulated stablecoin such as the AE Coin, or through VASPs offering a service to UAE entities such as the recent RAK Properties partnership with HubPay.
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Source: https://www.cryptopolitan.com/uae-al-naimi-advocates-accept-crypto/
