The United Arab Emirates announced that AE Coin, the first stablecoin backed by the UAE dirham and licensed by the Central Bank of the UAE, has been adopted by Nephos Group, a professional services company that includes consulting, digital transformation and accounting services, making it the first company of its kind in the region to accept payments via regulated stablecoins, in a move that represents AE Coin’s entry into the traditional business services sector.

This trend reflects a broader development in the use of regulated digital currencies within the UAE, with stablecoins gradually moving from the realm of financial transactions and transfers to everyday commercial uses.

Neffos Group, which serves a growing base of nearly 500 companies, represents a key channel for IEcoin's expansion in the professional services sector. Through its client network, this partnership has the potential to broaden access to IEcoin-enabled payments to a wider ecosystem, potentially reaching half a million end users. This reflects the significant opportunities available for regulated digital payments as their adoption accelerates among businesses and their customers.

This move also marks a significant milestone in expanding the EEcoin merchant network, contributing to the accelerated adoption of regulated digital payment solutions across the country. Through the AEC Wallet, Neffos Group customers can now settle bills in seconds using EEcoin, benefiting from faster settlement and reduced reliance on traditional banking channels.

Mohammed Waseem Khayata, CEO of Al Maryah Local Bank, said
“EyeCoin reflects our vision of building a practical and future-ready financial infrastructure that supports the UAE’s digital economy. EyeCoin’s expansion into the professional services sector through this partnership with the Neffos Group underscores how regulated digital payments have become a viable solution for businesses, by enhancing efficiency, accelerating settlement processes, and delivering a better customer experience.”

The AEC Wallet, developed to meet the growing demand for digital payment solutions that comply with regulatory frameworks, provides the ability to send, receive and use AI Coin, fully backed by a 1:1 ratio in UAE Dirhams, ensuring stability, transparency and trust.

For his part, Ramez Rafik, General Manager of IED Stable Coin, said:
“Today we are witnessing the transition of regulated stablecoins from a mere trading tool to a practical means of conducting everyday business transactions. The inclusion of the professional services sector in the IEC ecosystem is an important step towards making digital payments a viable option for businesses operating within sophisticated regulatory environments.”

The addition of the Neffos Group reinforces the accelerating momentum of EE Coin in the public and private sectors, including its use in paying government service fees and its integration into key sectors such as retail, hospitality and mobility.

By integrating the AEC Wallet, Neffos Group leverages an advanced financial infrastructure to enhance the customer experience by providing:
• Bill settlement in seconds instead of days
• Reduced transaction costs compared to payment cards and international bank transfers
• Direct payments from the wallet to businesses without intermediaries
• Greater transparency in pricing through a digital currency pegged to the UAE dirham

Joe David, founder and CEO of the Neffos Group, said
“Stablecoins are moving from the periphery of the financial sector to the heart of business operations. For companies like ours that work with customers across multiple markets, the ability to settle payments instantly via a regulated digital currency represents a significant evolution compared to the traditional payment architecture.”

While sectors like retail and money transfers led the initial stages of cryptocurrency adoption, the professional services sector has remained largely reliant on traditional banking systems. This move represents an early shift in how consulting and professional services firms operate within a fully integrated digital financial environment.

As adoption accelerates, EA Coin and AEC Wallet continue to play a pivotal role in enabling a unified, regulated, and scalable digital payments ecosystem in the UAE, paving the way for a future where stablecoins become an integral part of everyday commercial payments, not just financial markets.

About EYe Coin:

It is a next-generation stablecoin, regulated by the Central Bank of the UAE, providing secure, transparent, and efficient financial services. AECoin focuses on local payments, integrating decentralized finance (DeFi) solutions and innovative reward systems, redefining how digital money is used. Headquartered in Abu Dhabi, the company continues to lead innovation in the region's digital finance sector.

About AEC Wallet
The AEC Wallet, powered by Emirates Currency Investment Company (EmCoin), is a secure digital wallet designed to enable seamless everyday payments using AEC Coin. The platform allows users to easily and quickly transfer, receive, and spend AEC Coin in real-world transactions, bridging the gap between blockchain innovation and everyday business applications.

About the Nivos Group

It is a professional services company specializing in cloud consulting, digital transformation and advisory services, supporting organizations in dealing with complex technical environments and achieving sustainable growth.

Neffos Group is also a leading provider of specialized accounting services for the digital currency and blockchain technology sector, offering a comprehensive suite of services including digital asset tax planning, accounting, corporate support, and decentralized finance (DeFi) consulting, leveraging its expertise in combining traditional accounting standards with specialized knowledge of the rapidly evolving digital asset sector.

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