ADNOC Distribution adopts the “iEcoin” digital currency for payment in its various outlets as part of keeping pace with the digital transformation in the Emirates

A strategic memorandum of understanding has been announced to enable iCoin digital currency payments across ADNOC Distribution’s extensive retail network in the UAE. By adopting the first stable currency of its kind in the country, ADNOC Distribution becomes the first company in the mobility and retail sector in the Emirates to allow its customers to pay using iCoin. This prominent initiative is being implemented in cooperation with the local Al Mariah Bank.
Under the MoU, iEcoin payments – the stable digital currency backed by the UAE dirham – will be integrated into ADNOC Distribution’s payment channels and at various key customer interaction points, which include service stations, Oasis by ADNOC stores, and car wash services.
The memorandum of understanding was signed during Abu Dhabi Financial Week, which comes in line with the UAE’s efforts to promote safe and regulated digital payment solutions, and confirms ADNOC Distribution’s commitment to providing innovative payment options that give customers more diversity and flexibility.
Under the agreement, ADNOC Distribution will integrate “IE Coin” through Al Mariah Bank’s IEC wallet within its payment system, allowing customers to conduct immediate, secure and seamless transactions supported by blockchain technology. This move represents an early and regulated application of digital asset payments in the mobility and retail sectors, and reinforces how future payment technologies can be responsibly introduced nationwide.
For his part, ADNOC Distribution CEO, Engineer Badr Saeed Al Lamki, said: “Adopting iEcoin within our service network represents a strategic step in ADNOC Distribution’s journey towards strengthening the mobility and retail sectors through innovation. The adoption of transactions supported by blockchain technology embodies our firm commitment to adopting the latest innovations to provide exceptional customer experiences, and enhance our readiness for the future of smart services. We are proud of our contribution to supporting the UAE’s vision to consolidate its global leadership in the field of secure digital payments.” And advanced.”
Mohammed Waseem Khayat, CEO of the local Al Mariah Bank, said: “This partnership represents a turning point for the financial services and retail sectors in the UAE. With the adoption of digital payments within the ADNOC Distribution network, we are putting the future of payment within the reach of millions of consumers, offering them an easier and more innovative experience, and providing a practical model of how secure and regulated blockchain technologies can contribute to simplifying payments, enhancing customer convenience, and accelerating the process of digital transformation nationwide.”
Ramez Rafiq, General Manager of IED Stable Coin, added: “IE Coin was developed to make secure, instant, and regulatory-approved digital payments a reality in everyday life. ADNOC Distribution’s adoption of this currency on a national scale is an important step in the UAE’s journey towards the future of payments, and sets a standard for the digital asset industry globally. This partnership highlights how fully licensed and covered digital tokens can be used in traditional retail environments, moving the concept of cryptocurrencies from just an idea to Wider practical application.