Dubai partners accept government services for Bitcoin and cryptocurrencies
Dubai has officially made Bitcoin a part of everyday life.
At the Dubai FinTech Summit, the city’s Ministry of Finance (DOF) signed a Memorandum of Understanding (MOU) with Crypto.com, enabling people to use cryptocurrencies such as Bitcoin to pay for government services.
The deal was signed with Dubai officials, including his lord Abdulla Mohammed Al Basti and his lord Abdulrahman Saleh Al Saleh, and was signed by DOF’s Ahmad Ali Meftah and Ahmad Ali Meftah and Crypto.com President Mohammed Al Hakim.
“Dubai continues to advance through coordinated efforts … has deployed the latest secure financial technology solutions to support its cashless strategy,” Al Basti said. “I would like to express my sincere thanks to the Ministry of Finance for its new global partnership.”
The move is part of Dubai’s plan to be almost completely cashless by 2026. With this partnership, one can choose to use Crypto.com’s app to pay in Bitcoin, then convert it to Emirati Dirhams and send it directly to the government. It is designed to be simple, fast and safe.
“We are proud of Dubai Finance’s role in shaping the future of digital finance.” “This partnership with crypto.com is an important part of driving this forward.”
Ahmad Ali Meftah said this public-private collaboration is what helps build trust, drive innovation and make the financial system easier to access everyone.
This is part of the Dubai D33 economic agenda, which includes leveraging technology and innovation to grow the economy. The government expects this to introduce at least Dh8 billion a year.
“The Dubai government has always been a truly global visionary,” said Eric Anziani, president and chief operating officer of Crypto.com. “We are honored to support government use of cryptocurrencies for the first time ever.”
Before the system goes online, technical arrangements still need to be completed. Once this happens, individuals and businesses will be able to make government payments through Crypto.com’s platform.
