Cryptocurrency
Tawasul Transport and Al Maryah Community Bank launch the first digital payment system in taxis using AE Coin
[PRESS RELEASE – Abu Dhabi, United Arab Emirates, June 24th, 2025]
In coordination with the Integrated Transport Center (ITC) of the Department of Municipalities and Transport, Tawasul Transport, in collaboration with Al Maryah Community Bank (Mbank), launched a groundbreaking initiative enabling passengers to pay electronically via the AEC Wallet app using the stable digital currency AE Coin across all Tawasul taxis in the Emirate of Abu Dhabi.
This milestone is part of joint efforts to enhance digital payment solutions and develop a smart, secure, and seamless transportation experience. The initiative is the first of its kind globally to adopt a stablecoin pegged to the UAE dirham for public transport payments.
The launch event featured the first official payment using AE Coin following a completed ride in one of Tawasul’s taxis—a move that reinforces Abu Dhabi’s commitment to transitioning toward a digital and sustainable transportation system.
The AEC Wallet offers a simple and secure payment experience, allowing users to complete transactions by scanning a QR code inside the vehicle. AE Coin is pegged at a fixed rate of 1 AED = 1 AEC, ensuring strong financial stability and building trust in digital currency usage.
The AEC Wallet app is available for free on the Apple Store, Google Play, and Huawei AppGallery. It features an innovative user experience focused on fast transactions, robust security, and reduced transfer costs.
With this initiative, taxi passengers in Abu Dhabi can now benefit from an advanced digital payment experience that aligns with the emirate’s ambitions for digital transformation and strengthens its position as a global hub for fintech and smart mobility.
Tawasul Transport:
Mr. Ghena Jbour, General Manager of Tawasul Transport, stated: “This initiative serves as a model of effective collaboration between all entities striving for continuous development within the integrated transport ecosystem. It reinforces the UAE’s leading position in innovation and digital transformation in the transportation sector. At Tawasul Transport, we believe that digital transformation is not merely an option—it is a necessity to meet the evolving expectations and daily needs of users.
This step contributes to enhancing the customer experience by simplifying the payment process and providing multiple secure payment options, in line with Abu Dhabi’s vision of building a smart and sustainable transport system. The adoption of AE Coin in the public transport sector reflects our commitment to supporting future-focused financial solutions that combine technology, convenience, and sustainability. We will continue working to expand these solutions to cover additional services in the future.”
Al Maryah Community Bank:
Mr. Mohammed Wassim Khayata, CEO of Mbank, said: “We are proud to be part of this innovative collaboration with Tawasul Transport and the Integrated Transport Center, as it aligns perfectly with our vision of driving the future of digital payments in the UAE. AE Coin is not just a digital currency, it’s a key pillar of the UAE’s emerging financial infrastructure, bringing stability and compliance into real-time consumer payments through blockchain. Today, we are introducing a transformative payment experience, offering customers a future-forward, cashless, secure, and cost-effective way to use public transport. It’s a step forward in bringing the UAE’s Digital Government Strategy 2025 to life.”
He added: “As part of its strategic roadmap, Mbank is focused on forging future partnerships with businesses and government entities to expand the adoption of AEC Wallet across various sectors, revolutionizing digital payments for both consumers and businesses in the UAE.”
AED Stablecoin:
Ramez Rafeek, General Manager of AED Stablecoin, commented: “The collaboration with Tawasul Transport marks a pivotal moment for AE Coin and AEC Wallet. By offering passengers a secure and seamless payment option in all Tawasul taxis, we are demonstrating how digital currencies can integrate effortlessly into everyday life. This partnership exemplifies the power of innovation and cooperation in driving the future of digital payments, and we’re thrilled to be at the forefront of this transformation.”
Coming soon: The AEC Wallet app will be accepted across more transportation services, merchants, and retail outlets across the UAE, further enhancing the customer experience and offering more opportunities to use AE Coin in everyday transactions.
About Integrated Transport Centre
The Integrated Transport Centre (ITC), affiliated with the Department of Municipalities and Transport, is the legislative, regulatory, and supervisory authority responsible for managing and developing the transport sector in the Emirate of Abu Dhabi. It formulates policies and frameworks aimed at establishing a smart, safe, and integrated mobility system that supports the Emirate’s aspiration to be among the most advanced cities in the world.
ITC oversees all land, maritime, and aviation transport activities across the Emirate, ensuring the integration and advancement of the mobility system in line with urban expansion and population growth. It also strives to harness the latest technologies, innovation, and sustainability tools to meet future mobility demands, enhance quality of life, and redefine urban living standards by embedding advanced solutions and promoting sustainable mobility practices.
About Tawasul Transport
Tawasul Transport Company, established in 2007, is a leading provider of taxi services in the Emirate of Abu Dhabi. With a fleet known for its high quality, safety, and comfort, Tawasul Transport has become a trusted provider of public transport services, committed to ensuring customer satisfaction.
As part of its commitment to innovation and shaping the future of transportation, Tawasul Transport is currently operating autonomous vehicles in support of smart and sustainable mobility initiatives. This strengthens its position as a pioneering company in adopting future-ready solutions for modern transport systems.
The company operates 24/7 throughout the year, in alignment with the goals of the Integrated Transport Center (ITC), the official authority responsible for regulating and managing public transport services in the Emirate. Tawasul actively contributes to realizing Abu Dhabi’s vision of building a smart, safe, and sustainable transport ecosystem that meets community needs and keeps pace with future aspirations.
For more information, users can call 02 444 3673 or contact info@tawasul.ae.
About Al Maryah Community Bank
Al Maryah Community Bank (Mbank) is the first fully integrated digital bank in the UAE, providing an omnichannel experience for both individual consumers and small businesses. The bank is highly specialized, focusing on growth and serving the UAE community, which includes UAE Nationals, residents, and businesses (both SMEs and corporates). The bank’s vision aligns with that of the UAE’s leaders, who are committed to supporting individuals and small businesses within the UAE economy and fostering a forward-thinking culture that emphasizes innovation and technology.
For further information, users can call 600571111 or contact info@mbankuae.com.
About AE Coin
AE Coin is a next-generation stable digital currency regulated by the Central Bank of the UAE, offering secure, transparent, and efficient financial services. With a focus on local payments, decentralized finance, and innovative rewards systems, AE Coin is redefining the way users interact with digital money. Headquartered in Abu Dhabi, UAE, AE Coin leads the region in digital finance innovation.
Website: www.aecoin.com
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Bitcoin’s gradual ascent after its Friday plunge to a two-week low continues as the asset has risen to just over $118,000 over the past 12 hours or so.
Although most altcoins are somewhat sluggish on a slow Sunday, a few have tapped multi-month peaks, such as Cronos (CRO).
BTC Taps $118K
Bitcoin’s latest all-time high, which took place on July 14, was followed by an expected correction and consolidation period. Within days, the asset slumped to under $120,000 and spent most of the next week trading sideways between that upper boundary and $117,000.
After a few rejections at $120,000, the bears took control and initiated a considerable leg down that pushed the cryptocurrency to a low of $114,500. This came as Galaxy Digital offloaded 80,000 BTC (valued at over $9 billion) for a third party.
Once the sell-off was completed, bitcoin’s price started to recover and jumped past $117,000 yesterday and up to $118,400 today. This meant that the asset has recovered four grand since the Friday low.
Its market capitalization has climbed to $2.350 trillion, while its dominance over the altcoins has stalled at 59.2%.
These Alts Are Pumping
Most altcoins are with minor gains today as well. Ethereum jumped to $3,800 earlier today after a 1-2% increase. Ripple’s native token is at $3.2 after a similar daily jump. BNB, SOL, DOGE, TRX, and ADA have charted similar gains as well.
SUI continues with its impressive run, having surged by another 6% and is well above $4.2. BCH and CRO have added over 5-6% in a day, which has helped the latter surge to a new six-month high of over $0.14.
The top performer among the largest 100 altcoins is HBAR. It has risen by more than 10% and now trades over $0.29.
The total crypto market cap has recovered another $30 billion and is up to $3.970 trillion on CG. The metric reached a multi-week low on Friday at under $3.870 trillion.
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Cryptocurrency charts by TradingView.
TL;DR
- ChatGPT outlined five altcoins that could become the top performers by the end of the year, but omitted Ripple’s XRP.
- In a follow-up post, the popular AI outlined its reasons for doing so.
Why Not XRP, ChatGPT?
Before we head into the AI’s answer, here’s the context. Yesterday, we published an article asking the top 4 AI chatbots (ChatGPT, Gemini, Grok, and Perplexity), which are their five altcoin contenders to outperform by the end of the year. While there were some speculative and surprising names, the last three AIs all included ETH and XRP – the two largest altcoins by market – in some form.
ChatGPT, however, left out Ripple’s native token, which is somewhat surprising given its performance since the US elections. Back then, it was in a multi-month consolidation phase with an upper boundary of $0.6. By January, it had skyrocketed to its 2018 ATH of $3.4. Then, it retraced in late Q1 and early Q2 before it exploded once again in July to a new record of $3.65.
It also has a considerable following, known as the XRP Army, which made ChatGPT’s answer even more surprising. Consequently, we doubled down on why it excluded Ripple’s coin. It stated that it based its answer on “performance outlook,” rather than on current market capitalization or historical performance.
It cited the lack of DeFi developments on Ripple’s XRP Ledger as one of the reasons why the token wasn’t included, which is a stark contrast to the Ethereum and Solana ecosystems (both of which made the list).
It also noted that the legal overhang of the case against the SEC still exists, even though both parties have mutually agreed that the lawsuit should be concluded. Judge Torres, though, continues to deny their joint petitions.
Lastly, OpenAI’s chatbot brought up previous market cycles, in which XRP lagged behind other altcoins:
XRP Tends to Lag Early in Bull Markets:
Historically, XRP pumps later than most other major altcoins.
In both 2017 and 2021 cycles, XRP’s explosive moves came toward the end, not the beginning.
So while it may perform well, it’s typically not a first mover.
It Could Still Pump
Although XRP wasn’t on ChatGPT’s top 5 list, unlike SOL, ETH, TON, SUI, and APT, the AI solution still acknowledged that Ripple’s asset could continue to rocket this year under more favorable conditions.
If the aforementioned lawsuit against the US securities watchdog officially ends with a positive outcome for Ripple, its native token is poised to benefit, said ChatGPT. Additionally, it expects the potential approval of a spot XRP ETF to give the underlying asset another price boost.
Experts and betting platforms like Polymarket put the odds for such products to see the light of day by the end of the year at up to 90%.
“XRP is not excluded because it’s weak — it’s excluded from the top 5 performance picks because other coins currently have stronger short-term narratives, faster capital rotation, or better retail excitement.
But rest assured: XRP is still a high-potential asset, and it may surprise everyone later in the cycle, especially if legal clarity and real utility ramp up,” concluded ChatGPT.
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At the time of this writing, Bitcoin (BTC) was trading just over $118,000, after recovering from a dip that took it to a two-week low at $114,500 on July 24.
But behind the relatively calm price action, a potentially explosive narrative is gathering steam. Proponents say we’re witnessing the most calculated supply shock in crypto history, and when the dust clears, the price of BTC could be headed for the $1 million mark.
The Million-Dollar Dream
As noted in a July 25 X post by Swan, a Bitcoin-only financial services provider, the current rally, which saw BTC hit a new all-time high recently, is different. It is deliberate, calculated, and rather underhyped.
“This is the least euphoric bull market we’ve ever seen,” Swan posted. “And that’s bullish.”
Their premise? Corporate treasuries and spot-exchange traded funds are quietly soaking up BTC through algorithmic “drip buys.” These aren’t degens gambling on meme coins but CFOs and CIOs diversifying balance sheets while retail sleeps.
“Each breakout removes coins from weak hands, then resets.”
Swan calls it “deliberate absorption,” and it’s keeping price action deceptively stable, at least for now. However, crypto influencer American HODL thinks the dam is about to burst. He believes that once enough corporate balance sheets start showing BTC as a strategic reserve asset, boardrooms around the world will scramble to keep up, just like they did during the internet boom in 1999.
“I think the treasury company bubble can get dot-com level large,” he said in a recent podcast. “We could see a 3–4 year run that takes Bitcoin well beyond a million dollars.”
Roadmap to $1 Million
To support their view, Swan researchers laid out a four-phase blueprint they believe is already in motion:
- Quiet corporate absorption via algorithmic buys
- Sovereigns stacking Bitcoin under the radar
- Major treasury firms finalizing structures for maximum bidding
- Narrative contagion that ignites a multi-year melt-up
“That’s the setup for a mania-fueled blow-off top pushing toward $1M Bitcoin,” the firm stated.
The flagship cryptocurrency rallied from $42,000 to $123,000 during a historic tightening cycle, and Swan is asking, what happens when cheap money actually returns? This is especially key, with potential mega-buyers like Nakamoto, Twenty One Capital, and Strive Asset Management, reportedly waiting in the wings, structuring SPVs and M&A deals before unleashing massive BTC bids.
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