What is Stablecoin?
Stablecoin is a type of cryptocurrency designed to have a stable value pegged to a reference asset or a fiat currency.
What is AE Coin?
AE Coin is a Stablecoin issued by “AED Stablecoin LLC”. AE Coin is pegged to AED, whereby the value of AE Coin is stable and 1 AE Coin = 1 AED.
What is AEC Wallet?
The AEC Wallet is a digital wallet that facilitates users to convert, hold, transfer, receive, and pay using AED denominated Stablecoins (the “AE Coin”).
The AEC Wallet enables users to convert their AED balance into AE Coin balance, transfer AE Coin to another AEC Wallet holder, pay merchants using AEC Wallet, and redeem AE Coin balance to AED currency into their linked bank account.
Why should I use AEC Wallet?
AEC Wallet offers multiple features such as no transaction fees, cost-effective wallet payment solutions, merchant offers, and much more!
What are the fees and charges applicable to AEC Wallet?
Please click here to view the key facts about AEC Wallet, including all applicable fees and charges.
Can I earn interest on my balance available in my AEC Wallet?
AEC Wallet provides conversion, custody, and payment solutions. Customers will not receive any interest on their wallet balance.
Is it legal and safe to use AED Wallet in the UAE?
AEC Wallet is powered by Al Maryah Community Mank (Mbank) and is fully compliant with UAE regulations. The main goal is to offer customers fast, secure, and convenient payment transactions using blockchain technology.
How can I register to AEC Wallet?
The steps to open a wallet account with AEC Wallet are simple:
- Download AEC Wallet by clicking here
- Sign-up using your Mbank UAE App or UAE Pass.
- Enter the required personal information.
After the verification process is complete, your wallet will be ready to use.
Is it mandatory to have a Mbank account in order to have AEC Wallet?
Yes, to open an account with AEC Wallet, you must have an account open with Mbank initially.
Is there any minimum balance required to open an account with AEC Wallet?
No, there is no minimum balance required.
Who can open an AEC Wallet account?
Any UAE Resident of legal age, equal or above 18 years, can open an AEC Wallet account.