Dubai Partners With Crypto.com For Digital Asset Payments

Dubai has taken a significant step towards embracing digital assets by partnering with Crypto.com to accept payments in digital assets for government fees. The emirate’s Department of Finance (DOF) signed a memorandum of understanding (MoU) with the crypto firm as part of its ongoing “cashless strategy.” This initiative aligns with Dubai's goal to conduct more than 90% of financial transactions across both the public and private sectors through cashless methods by next year.

Once the agreement is finalized, individual and business customers of the emirate’s government entities will be able to pay service fees through Crypto.com’s digital wallets. Crypto.com will handle the conversion of crypto payments into Emirati dirhams and transfer them to DOF accounts, ensuring a seamless transition to digital payments.

Dubai has been actively positioning itself as a crypto-friendly jurisdiction, with plans to host Binance Blockchain Week in December. This partnership with Crypto.com is part of the emirate’s broader efforts to evolve into a global hub for digital payments. Ahmad Ali Meftah, DOF’s executive director of the central accounts sector, emphasized that the partnership is aimed at fostering innovation while ensuring the highest standards of security and efficiency in digital financial transactions.

“We are actively developing an advanced regulatory framework that fosters innovation while ensuring the highest standards of security and efficiency in digital financial transactions. This enhances customer trust in Dubai Government services and unlocks new opportunities for economic growth. Through strategic partnerships, we remain dedicated to establishing a sustainable financial model that empowers individuals and businesses, cementing Dubai’s leadership in financial technology and keeping it at the forefront of global innovation and economic progress.”