Dubai Teams Up with Crypto.com for Public Fee Payments
By: bitcoin ethereum news|2025/05/13 21:00:13
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Dubai partners with Crypto.com to allow public service payments using crypto through automatic conversion to AED. The plan supports Dubai’s goal of achieving 90% cashless transactions across public and private sectors by 2026. The Dubai government has just made another breakthrough in the digital finance sector. Through a strategic partnership with Crypto.com, they are opening a path for residents and businesses to pay for public services using crypto assets. Not just a discourse, this plan was announced directly at the Dubai FinTech Summit on May 12, 2025. And interestingly, payments via Crypto.com will be directly converted into dirhams and sent to the Dubai Department of Finance (DOF) account. What that means? Users only need to pay using crypto, but the government still receives official money. Simple, but revolutionary. Dubai Finance (DOF) has signed a Memorandum of Understanding (MoU) with https://t.co/HZnta4pnXb, a globally recognised cryptocurrency trading platform, to enable the payment of government service fees using cryptocurrencies—an initiative that marks a significant step in advancing... pic.twitter.com/iOh7kOz50p — Dubai Media Office (@DXBMediaOffice) May 12, 2025 Dubai wants 90% of transactions in the public and private sectors to be cashless by 2026. They even said that these crypto payments will use “stable cryptocurrencies,” which indicates the use of stablecoins to avoid the risk of price fluctuations. imagine if this was also implemented in other countries, paying for driving licenses, taxes, or legal matters just open the application and send digital coins. No need to queue or carry cash. Dubai Wants to Become the Main Global Crypto Center If we draw a line further, this step is not just a local experiment. On the other hand, CNF reported that MBS Global Investments, the family office that manages the assets of Sheikh Nayef bin Eid Al Thani, has announced a jumbo investment plan worth $8.8 billion. The goal? Building a blockchain-based financial center in the Maldives. This means that Dubai’s influence is starting to spread to other regions through large funds and a digital vision. Furthermore, Dubai’s signal as a crypto center is getting stronger with big events like TOKEN2049 in early May. This event successfully brought together around 15,000 participants from all over the world. The discussions were serious—from regulations to the future of blockchain adoption by institutions. And that’s not including Coinbase’s acquisition of Deribit on May 8. Yes, the Dubai-based crypto derivatives platform was acquired for $2.9 billion. With an annual trading volume of over $1 trillion, Deribit is no ordinary player. Not only that, since last March, Dubai has also been testing property tokenization. So, anyone can own a piece of luxury real estate without having to buy the whole thing. Through blockchain, property ownership can be broken down into smaller units that are easily accessible, even to investors from abroad. This project clearly fits into Dubai’s broader digital finance strategy. With all these concrete steps, Dubai is getting closer to becoming the world’s financial and blockchain hub. Source: https://www.crypto-news-flash.com/dubai-teams-up-with-crypto-com-for-public-fee-payments/?utm_source=rss&utm_medium=rss&utm_campaign=dubai-teams-up-with-crypto-com-for-public-fee-payments
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