EddieJayonCrypto
14 May 25
Dubai's Department of Finance has partnered with Crypto.com to accept digital assets for government fee payments as part of its cashless strategy. The agreement will allow individuals and businesses to pay fees via Crypto.com's digital wallets, with payments converted into Emirati dirhams. Dubai aim...
Dubai has partnered with Crypto.com to enable government fee payments using digital assets, a significant step toward its ambition of achieving over 90% cashless transactions by next year.The Department of Finance (DOF) in Dubai signed a memorandum of understanding with Crypto.com, allowing both individuals and businesses to pay government fees through Crypto.com’s digital wallets. Payments made in cryptocurrencies will be converted instantly into Emirati dirhams and credited directly to DOF accounts.This initiative is part of Dubai’s broader “cashless strategy” aimed at increasing cashless transactions across public and private sectors. By adopting this payment method, Dubai is positioning itself as a leading crypto-friendly hub, further underlined by its hosting of Binance Blockchain Week in December.Ahmad Ali Meftah, executive director of the central accounts sector at DOF, emphasized that the partnership supports Dubai’s goal to build a global hub for digital payments. He highlighted the development of advanced regulatory frameworks designed to foster innovation, ensure security, and improve transaction efficiency.These efforts enhance customer trust in government services and open new avenues for economic growth. Dubai remains committed to sustainable financial models that empower users and secure its position at the forefront of financial technology, innovation, and economic progress.