Dubai Finance Partners with Crypto.com to Enable Crypto Payments for Government Services
Dubai Finance has signed a landmark agreement with Crypto.com to allow the payment of government service fees using cryptocurrencies, marking a major step forward in the emirate's push toward a fully digital, cashless economy.
The Memorandum of Understanding (MoU) was signed today during the Dubai FinTech Summit at the Dubai International Financial Centre, in the presence of key government and industry leaders. The move supports the Dubai Cashless Strategy, which aims to have over 90% of transactions in the emirate conducted without cash by 2026.
Ahmad Ali Meftah of Dubai Finance and Mohammed Al Hakim of Crypto.com UAE formalised the deal. Crypto.com, licensed by the Dubai Virtual Assets Regulatory Authority, will provide the technology infrastructure to process cryptocurrency payments and convert them into Emirati dirhams.
The initiative will allow users to pay for government services using stable digital currencies via Crypto.com wallets. Payments will be securely processed and transferred to Dubai Finance, creating a seamless and secure experience for both individuals and businesses.
Officials say the partnership strengthens Dubai's status as a global hub for financial innovation and supports the emirate's broader economic agenda. It is expected to add AED 8 billion annually to the economy and accelerate growth in the fintech sector. 'This agreement reflects Dubai's proactive approach in shaping the future of finance,'
said Abdulla Mohammed Al Basti, Secretary-General of The Executive Council of Dubai. 'It reinforces our commitment to innovation, digital transformation, and global leadership in financial technology.'
News Source: Emirates News Agency
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