Dubai and Crypto.com Partner to Launch Crypto Payments for Public Services
The post Dubai and Crypto.com Partner to Launch Crypto Payments for Public Services appeared on BitcoinEthereumNews.com.
Dubai leads the world in launching complete crypto payment options for government services via Crypto.com. The move backs Dubai’s Cashless Strategy, which aims for 90% digital transactions by 2026 and an AED 8 billion economic boost. In a strategic development unveiled at the Dubai FinTech Summit 2025, the Government of Dubai has signed a Memorandum of Understanding (Mou) with Crypto.com to enable cryptocurrency payments for government services. This strategic partnership marks a global first, setting the stage for a fully integrated public-sector crypto payment framework. The initiative aims to support the emirate’s ambitious Cashless Strategy, which targets 90% digital financial transactions across public and private sectors by 2026. The deal was signed on May 12, with key government leaders in attendance, including His Excellency Abdulla Mohammed Al Basti, Secretary General of Dubai’s Executive Council, and His Excellency Abdulrahman Saleh Al Saleh, Director General of the Department of Finance. Under the agreement, residents and businesses can pay with stablecoins using Crypto.com’s licensed wallet. The system instantly converts payments to Emirati dirhams before sending them to government accounts. Dubai Pushes Further Into Digital Finance Dubai isn’t new to going digital. By the end of 2023, 97% of its government transactions were digitised. It’s raising the bar by becoming the first government to accept crypto payments at scale. Amna Mohammed Lootah, Director of Digital Payment Systems Regulation stated: “This agreement with a leading global crypto platform is a major leap. It brings us closer to achieving our goal of a cashless Dubai.” The initiative is projected to add more than AED 8 billion (around $2.1 billion) annually to the local economy. Officials say this growth will be fueled by wider fintech adoption and a forward-looking regulatory environment. Ahmad Ali Meftah, Executive Director at the Department of Finance, added: “We’re building a legal and…
Filed under: News - @ May 13, 2025 11:30 am