The short answer
Align gives companies based outside the UAE a named AED IBAN in the company's own name. UAE customers pay you in dirhams like any local supplier, over UAEFTS or the Instant Payment Platform (IPP), and you can pay UAE suppliers the same way. Dirhams you receive land in your balance as USDC or USDT.
Align doesn't onboard companies based in the UAE. The account is for companies elsewhere that trade with UAE counterparties: exporters selling into the UAE, importers and re-exporters buying through it, and service companies with UAE clients.
At a glance
| Align AED business account | |
|---|---|
| Account details you receive | A named AED IBAN in your company's name |
| Rails | UAEFTS and the Instant Payment Platform (IPP) |
| Who it's for | Companies based outside the UAE that get paid in dirhams or pay UAE suppliers. Align doesn't onboard companies based in the UAE, and some countries and activities are prohibited |
| Whose name is on it | Your company's, as the account holder. The account is permanent: issued to you and kept for future payments |
| How money lands | In your balance as USDC or USDT. You can pay out in AED, USD, EUR or GBP, or send USDC and USDT to wallets |
| Onboarding time | 1 to 5 business days for Align's compliance review |
| Pricing | Quoted on request: contact us |
What UAE payers need from you
A UAE payer sends dirhams to an IBAN. Give them, in writing, your company's legal name exactly as it appears on the account, the IBAN exactly as Align shows it, and the invoice number you want as the payment reference. A UAE IBAN has 23 characters: AE, two check digits, a three-digit bank code that identifies the bank and a 16-digit account number.
Because the account details are local, a UAE customer pays you with a domestic AED transfer rather than an international SWIFT payment.
UAEFTS and the Instant Payment Platform
Align's AED accounts use two of the UAE's payment systems.
| UAEFTS | Instant Payment Platform (IPP) | |
|---|---|---|
| What it is | The UAE's real-time gross settlement (RTGS) system | The UAE's instant payment system, branded Aani for consumers and businesses |
| Who runs it | The Central Bank of the UAE, which owns, hosts and manages it | Al Etihad Payments, set up in 2023 under the Central Bank's Financial Infrastructure Transformation programme |
| Speed | Each payment settles individually, in real time | Real-time settlement for every transaction |
| Hours | The system's business hours, set by the Central Bank | 24/7 |
The Instant Payment Platform went live in October 2023 with 10 participating institutions, and Al Etihad Payments said in April 2024 that it planned to onboard more than 50 more. It described a limit of AED 50,000 per transaction, which it said it may raise in phases, and banks can set lower limits: Commercial Bank International, for example, caps outgoing Aani transfers at AED 10,000 per transaction and AED 50,000 a day. Above the limit, a payment goes by UAEFTS; below it, IPP doesn't wait for business hours, so it also works on weekends and UAE public holidays.
Why UAE counterparties pay in dirhams, not stablecoins
The Central Bank of the UAE's Payment Token Services Regulation (Circular No. 2/2024, published in June 2024) limits how stablecoins denominated in other currencies, which it calls foreign payment tokens, can be used in the UAE. A merchant or other person in the UAE selling goods or services may accept one only if a CBUAE-registered foreign payment token issuer issued it, and only as payment for virtual assets or virtual asset derivatives. Licensed and registered firms may only facilitate transfers of foreign payment tokens used that way.
As of September 2026, no global stablecoin issuer, including Tether and Circle, held CBUAE foreign payment token registration, according to DLA Piper. The financial free zones have their own regimes: the regulator in ADGM has accepted USDC and USDT for use there, and the DFSA in the DIFC has approved USDC. Outside them, a UAE supplier or customer generally can't settle an invoice with you in USDT or USDC.
So the dirham leg runs as a bank transfer. Your UAE customer pays your AED IBAN, and the dirhams land in your Align balance as USDC or USDT outside the UAE. When you pay a UAE supplier, the stablecoin is converted as part of the payment and the supplier receives a dirham bank transfer. Neither side has to hold or accept a stablecoin in the UAE. Align doesn't directly onboard retail or business users in the UAE, and nothing on this page is an offer of its services there.
What happens to the dirhams
The dirham is pegged to the US dollar, and the Central Bank of the UAE publishes the rate as 3.6725 dirhams per dollar. USDC and USDT are dollar stablecoins (USDT vs USDC), so with the dirham pegged, the rate you get mostly reflects the provider's pricing. Ask for conversion pricing when you request a quote. USDT to AED and USDC to AED explain how a payout to a UAE bank account works.
What to check when choosing a provider
- Whose name is on the account. A named IBAN shows your company as the account holder. A pooled one shows the provider and identifies you by a reference. See named vs pooled virtual IBANs.
- Whether it's a local IBAN. Local account details let UAE customers pay you with a domestic transfer instead of an international SWIFT payment. OUR, SHA and BEN explained covers what SWIFT adds.
- Which rails it receives. Ask whether the account receives both UAEFTS and Instant Payment Platform transfers, and what limits apply.
- Whether you're eligible. Providers set different rules for companies in and outside the UAE. Align's AED accounts are only for companies outside it.
How to open one
- Create an account online. It takes a few minutes.
- Upload your company documents. This takes 5 to 10 minutes if you have them ready. The KYB documents guide lists what to prepare.
- Wait for the compliance review. Align's compliance team reviews your documents in 1 to 5 business days. Your application shows Pending KYC Completion until documents are submitted, Pending while they're under review, Resubmission Required if Align needs more information or a replacement document, and Approved when the account is active.
Once you're live, payments to third parties such as suppliers go out from your named account, and Align may ask for the invoice behind a payment. Read the prohibited and restricted use policy before you apply.
Align Payments Ltd. is registered with FINTRAC in Canada as a money services business (registration no. N300000203). Regulated services are provided through licensed financial institutions.
Sources
- Central Bank of the UAE, UAE Funds Transfer System (UAEFTS) and IBAN
- Central Bank of the UAE, Exchange rates, February 2023
- Al Etihad Payments, Aani instant payments platform: redefining the UAE's financial landscape (April 2024)
- Commercial Bank International, Aani FAQs
- CMS, The new CBUAE Payment Token Services Regulation: 10 things you need to know (August 2024)
- DLA Piper, Digital assets and tokenization developments (October 2026)
- Wise, IBAN in the United Arab Emirates
- Align docs, Virtual accounts, Stablecoin to fiat (off-ramp), Countries and currencies and Business (KYB) verification
Common questions
- Can a company outside the UAE get a named AED IBAN?
- Yes. Align gives companies based outside the UAE a named AED IBAN in the company's own name, for receiving and sending dirhams over UAEFTS and the UAE's Instant Payment Platform. Align doesn't onboard companies based in the UAE: the account is for companies outside it.
- Can my UAE customers or suppliers just use USDT or USDC instead?
- Usually not for goods and services. Under the Central Bank of the UAE's Payment Token Services Regulation, a merchant in the UAE may accept a foreign-currency stablecoin only if a CBUAE-registered issuer issued it and it's used to buy virtual assets. As of September 2026, neither Tether nor Circle held that registration, so a dirham bank transfer is the practical way for a UAE counterparty to pay or be paid.
- What does a UAE IBAN look like?
- It has 23 characters: AE, two check digits, a three-digit bank code and a 16-digit account number. Give payers the IBAN exactly as Align shows it, with your company's legal name.
- How much does it cost?
- Align quotes pricing on request, based on the rails and volumes you expect to use. Ask for a quote through the contact page.
This page is general information, not legal, tax or financial advice. Rules and providers' terms change; check the sources linked above and take advice on your own situation.