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Dubai Moves to Embrace Crypto for Government Payments via Crypto.com Deal
By: coindoo|2025/05/15 12:15:04
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The emirate’s Department of Finance (DOF) has signed a memorandum of understanding with the global crypto exchange as part of a broader initiative to modernize public sector transactions.The agreement will allow individuals and businesses to settle government fees using cryptocurrencies through Crypto.com’s digital wallet service. Once completed, the system will automatically convert digital assets into Emirati dirhams before depositing them into DOF accounts.The initiative falls under Dubai’s long-term ambition to process more than 90% of financial transactions digitally across both public and private sectors by 2026. It reflects the city’s push to lead in financial innovation while tightening its grip on regulatory efficiency and user security. .dark-mode .read-more {background-color: #343a40 !important;} READ MORE: Why Bitcoin Could Outshine Wall Street: Pantera CEO Explains Ahmad Ali Meftah, who oversees central accounts at the DOF, emphasized that the partnership aligns with Dubai’s larger mission to create a thriving digital economy. He said the integration of digital assets into public payment infrastructure will enhance trust and help attract innovation-led businesses to the region.Dubai has become a magnet for crypto firms over the past few years, with major events like Binance Blockchain Week scheduled in the city. As regulators continue to build frameworks that balance innovation and oversight, Dubai appears committed to shaping the global future of digital payments.The post Dubai Moves to Embrace Crypto for Government Payments via Crypto.com Deal appeared first on Coindoo.
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