Dubai Partners with Crypto.com for Government Crypto Payments

The post Dubai Partners with Crypto.com for Government Crypto Payments appeared on BitcoinEthereumNews.com. Dubai’s government partners with Crypto.com to enable cryptocurrency payments for services. By 2026, Dubai targets 90% cashless transactions to enhance financial efficiency. Stable cryptocurrencies could be integrated into Dubai’s government payment system. Dubai’s government has partnered with Crypto.com to adopt cryptocurrency payments for government services. The deal, made at the Dubai Fintech Summit on May 12, is another step toward making the city cashless. Under this agreement, individuals can pay for government services using cryptocurrency through the digital wallet of Crypto.com. Payments will be converted into dirhams and credited to the Dubai Department of Finance (DOF) accounts. The new system will make payments easier and smoother for individuals and businesses. The first step is to choose the government service through which you have to make a payment. This may include such things as utility bills, business registration fees, and licensing costs. After choosing the service, the platform will give you an opportunity to pay with cryptocurrency.  Once the user selects a cryptocurrency, the system will provide a unique address to which the payment will be sent. After the payment has been confirmed, it will be processed and converted to dirhams, which will then be forwarded to the government’s account. The entire process is designed to be quick and secure, leveraging blockchain technology to ensure transparency and minimize processing delays. Boosting Dubai’s Financial Services The initiative forms part of Dubai’s overall target of achieving 90% cashless payments by the year 2026. According to a director of the digital payment systems regulation, this step will benefit both the public and private sectors. The DOF did not reveal which cryptocurrencies will be accepted initially. However, it was proposed that stable cryptocurrencies could be incorporated into the list of payment options. This is consistent with increasing appetite for stable digital money in the UAE,…

May 14, 2025 - 05:00
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Dubai Partners with Crypto.com for Government Crypto Payments

The post Dubai Partners with Crypto.com for Government Crypto Payments appeared on BitcoinEthereumNews.com.

Dubai’s government partners with Crypto.com to enable cryptocurrency payments for services. By 2026, Dubai targets 90% cashless transactions to enhance financial efficiency. Stable cryptocurrencies could be integrated into Dubai’s government payment system. Dubai’s government has partnered with Crypto.com to adopt cryptocurrency payments for government services. The deal, made at the Dubai Fintech Summit on May 12, is another step toward making the city cashless. Under this agreement, individuals can pay for government services using cryptocurrency through the digital wallet of Crypto.com. Payments will be converted into dirhams and credited to the Dubai Department of Finance (DOF) accounts. The new system will make payments easier and smoother for individuals and businesses. The first step is to choose the government service through which you have to make a payment. This may include such things as utility bills, business registration fees, and licensing costs. After choosing the service, the platform will give you an opportunity to pay with cryptocurrency.  Once the user selects a cryptocurrency, the system will provide a unique address to which the payment will be sent. After the payment has been confirmed, it will be processed and converted to dirhams, which will then be forwarded to the government’s account. The entire process is designed to be quick and secure, leveraging blockchain technology to ensure transparency and minimize processing delays. Boosting Dubai’s Financial Services The initiative forms part of Dubai’s overall target of achieving 90% cashless payments by the year 2026. According to a director of the digital payment systems regulation, this step will benefit both the public and private sectors. The DOF did not reveal which cryptocurrencies will be accepted initially. However, it was proposed that stable cryptocurrencies could be incorporated into the list of payment options. This is consistent with increasing appetite for stable digital money in the UAE,…

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