The post Dubai’s Cashless Vision Expands with Crypto.com MoU appeared on BitcoinEthereumNews.com.

The Dubai government has partnered with Crypto.com to allow residents and businesses to pay for government services using cryptocurrencies.  Dubai Finance and Crypto.com formalized the agreement on May 12 at the Dubai Fintech Summit hosted by Dubai International Financial Centre (DIFC). The emirate’s official media office announced the collaboration. It also emphasized that this represents a major step forward in advancing digital finance worldwide. “Dubai Finance (DOF) has signed a Memorandum of Understanding (MoU) with Crypto.com, a globally recognised cryptocurrency trading platform, to enable the payment of government service fees using cryptocurrencies,” the announcement read. The partnership seeks to leverage Crypto.com’s digital wallets to convert cryptocurrency payments into dirhams (AED). The payment will be transferred to Dubai Finance accounts. The system will be implemented once the technical arrangements for activating the agreement are completed.  Following this, individuals and business entities will be able to pay service fees through the wallet. The statement did not identify the cryptocurrencies for payment. Nonetheless, it noted that “stable cryptocurrencies” will be used for transactions. Meanwhile, Abdulla Mohammed Al Basti, Secretary General of the Executive Council of Dubai, and Abdulrahman Saleh Al Saleh, Director General of DOF, oversaw the signing of the MoU.  In addition, Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at DOF, and Mohammed Al-Hakim, President of Crypto.com UAE, were also part of the formalization. “I extend my sincere appreciation to the Department of Finance for enabling new global partnerships that support the objectives of the Dubai Economic Agenda D33 and reinforce Dubai’s status as a global hub for innovation,” Al Basti stated. The move is part of the broader Dubai Cashless Strategy, launched in October 2024. The strategy aims to strengthen Dubai’s global standing by facilitating secure, efficient financial transactions across the public and private sectors. Abdulrahman Saleh Al…

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Filed under: News - @ May 13, 2025 7:18 am