First Government to Accept Crypto Payments: Dubai Rolls Out New System
- Dubai pioneers global crypto adoption by enabling blockchain payments for services.
- Government aims for 90% cashless transactions by 2026 through stablecoin use.
- Crypto.com powers secure, regulated digital payments across all public sectors.
Dubai is set to become the first government in the world to accept cryptocurrency payments for public services. In a major push toward digital finance, the city’s Department of Finance (DOF) has partnered with global exchange Crypto.com to support the Dubai Cashless Strategy, which encourages modern and inclusive payment systems across the emirate.
Residents and businesses will soon be able to pay government fees using blockchain-based currencies. These payments will be converted into Emirati dirhams before transfer to the DOF’s accounts, making the process seamless and compliant with existing financial regulations.
Building a Cashless Future: Dubai’s Strategic Vision
The agreement was formalized during the Dubai FinTech Summit and highlights Dubai’s forward-thinking approach to innovation. The city aims to ensure that more than 90% of all public and private transactions go cashless by 2026. This transition c…
The post First Government to Accept Crypto Payments: Dubai Rolls Out New System appeared first on Coin Edition.
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First Government to Accept Crypto Payments: Dubai Rolls Out New System
- Dubai pioneers global crypto adoption by enabling blockchain payments for services.
- Government aims for 90% cashless transactions by 2026 through stablecoin use.
- Crypto.com powers secure, regulated digital payments across all public sectors.
Dubai is set to become the first government in the world to accept cryptocurrency payments for public services. In a major push toward digital finance, the city’s Department of Finance (DOF) has partnered with global exchange Crypto.com to support the Dubai Cashless Strategy, which encourages modern and inclusive payment systems across the emirate.
Residents and businesses will soon be able to pay government fees using blockchain-based currencies. These payments will be converted into Emirati dirhams before transfer to the DOF’s accounts, making the process seamless and compliant with existing financial regulations.
Building a Cashless Future: Dubai’s Strategic Vision
The agreement was formalized during the Dubai FinTech Summit and highlights Dubai’s forward-thinking approach to innovation. The city aims to ensure that more than 90% of all public and private transactions go cashless by 2026. This transition c…
The post First Government to Accept Crypto Payments: Dubai Rolls Out New System appeared first on Coin Edition.
Read More
Dubai Duty Free Partners With Crypto.com to Explore Crypto Payment Options