Local Al Mariah Bank and East West Global Group are leading the future of real estate sector payments via AE Coin

Al Mariah Local Bank, the leading integrated digital bank in the UAE, announced a strategic partnership with East West Global Group to launch payment solutions using AE Coin in real estate transactions through the bank-backed IEC Wallet. This achievement highlights East West Group’s global leadership in the UAE real estate sector by enabling blockchain-based payments using AE Coin, the first stablecoin backed by the UAE dirham and regulated by the UAE Central Bank.

This partnership represents a qualitative leap towards the practical application of blockchain technology in the real estate market, as buyers and tenants can now settle payments instantly and securely using AE Coin, while benefiting from lower costs and increased transparency, all within an integrated regulatory and digital framework.
Through this cooperation, East West International Group consolidates its position as one of the leading entities in the real estate sector in the United Arab Emirates, by accepting AE Coin as a means of payment, a step that sets a precedent in adopting customer-focused digital solutions that support innovation in the real estate sector.

Dr. Hussein Abdel Qader Harhara, General Manager of East West International Group, confirmed that this initiative comes within the group’s strategy to enhance efficiency and transparency in real estate transactions, adding:
“We are committed to providing innovative solutions to our customers that keep pace with the latest developments in financial technology, and contribute to supporting the UAE’s vision of transitioning towards an integrated digital economy.”

Mr. Mohammed Waseem Khayat, CEO of Al Mariah Local Bank, said: “We are proud of our partnership with East West International Group, one of the leading and trusted names in the UAE real estate market. Their willingness to adopt payment solutions via AE Coin represents a new standard for innovation in this sector. This step is pivotal in accelerating the adoption of blockchain technologies in real-world use cases and valuable transactions. We are not only supporting the digital transformation of real estate payments, but we are also contributing to shaping the future of financial services in the UAE.”

Mr. Ramez Rafiq, General Manager of IED Stable Coin, commented: “This cooperation with East-West International Group represents a real beginning for the application of blockchain technology in the real estate sector. As a pioneer in the field of real estate that allows payment using AE Coin through the IEC Wallet, East-West International Group provides a role model. The issue is not only about providing a new means of payment, but rather about rebuilding the infrastructure for real estate sales and leasing operations.”
IEC Wallet is available on Apple, Android, and AppGallery, and allows users who have completed the identity verification process to make instant payments to purchase real estate, pay rent, and perform other real estate services. Through this integration, East-West International Group customers now enjoy a smooth and instant payment experience within the first regulatory framework for digital currencies in the country.