Dubai partners with Crypto.com to provide cryptocurrency payments for government services

2025-05-13 13:14:22

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ChainCatcher news, according to Cointelegraph, the Dubai government has signed an agreement with the cryptocurrency exchange platform Crypto.com, planning to allow individual and business users to pay government service fees using cryptocurrencies through Crypto.com's digital wallet. Payments will be automatically converted to dirhams and deposited into the Dubai Treasury account.

This initiative is part of Dubai's "cashless strategy," aiming to achieve 90% cashless financial transactions in the public and private sectors by 2026. The Dubai Treasury stated that this collaboration will accelerate the development of fintech and is expected to bring at least 8 billion dirhams (approximately 2.1 billion USD) in economic growth.

It has not yet been announced which cryptocurrencies will be accepted, but officials mentioned that "stable cryptocurrencies" may be supported, indicating a preference for stablecoins. This collaboration marks an important step for Dubai in promoting digital payments and the application of cryptocurrencies, further solidifying its position as a global crypto-friendly city.

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