Dubai government to accept crypto payments through Crypto.com partnership

Dubai government to accept crypto payments through Crypto.com partnership


Crypto.com logo displayed on a phone screen with representation of cryptocurrencies.

Nurphoto | Nurphoto | Getty Images

Dubai’s Department of Finance announced a partnership with crypto platform Crypto.com that will allow government service fees to be paid with cryptocurrencies.

The memorandum of understanding between Dubai government officials and Mohammed Al Hakim, president of Crypto.com UAE, was signed Monday on the sidelines of the Dubai FinTech Summit.

Government officials said in a press release that the partnership will help achieve the “Dubai Cashless Strategy,” which seeks to solidify Dubai’s status as a leading digital city. The strategy aims to reach 90% cashless transactions across Dubai’s public and private sectors by 2026.

Once technical arrangements for the initiative are finalized, individuals and “businesses customers of government entities” will be able to pay service fees through digital wallets on Crypto.com.  

“The platform will securely convert these payments into Emirati dirhams and transfer them to Dubai Finance accounts, ensuring a streamlined, secure, and innovative payment framework,” Dubai Finance added. 

Bitcoin retreats as U.S. and China agree to pause some tariffs: CNBC Crypto World

Crypto.com’s Al Hakim called the initiative a “truly global first programme.” However, the announcement did not clarify what types of digital currencies the department of finance would accept, or for which types of government fees covered by the agreement. 

Crypto.com and Dubai Finance did not immediately respond to a request for comment from CNBC. 

Crypto.com first received a license for its Dubai entity to offer regulated virtual asset service activities in 2023. Last month, the company said Dubai’s virtual asset regulatory body had also issued a limited license to offer derivatives.

Dubai has been betting on the crypto industry for years as part of its ambition to become a global tech hub. 



Source

Bitcoin price rises as Israel-Iran ceasefire begins, and Senate unveils major crypto bill
Technology

Bitcoin price rises as Israel-Iran ceasefire begins, and Senate unveils major crypto bill

Crypto prices, including bitcoin, rose on Tuesday after President Trump announced a ceasefire between Iran and Israel. By midday Tuesday, bitcoin had passed the $105,000 level, ether jumped back above the $2,400 mark, and XRP climbed to $2.19.  The risk-on action in the markets, which also saw stocks rally on the Mideast de-escalation, wasn’t the […]

Read More
Nvidia CEO Huang sells  million worth of stock, first sale of 3 million plan
Technology

Nvidia CEO Huang sells $15 million worth of stock, first sale of $873 million plan

Nvidia CEO Jensen Huang attends a roundtable discussion at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris on June 11, 2025. Sarah Meyssonnier | Reuters Nvidia CEO Jensen Huang sold 100,000 shares of the chipmaker’s stock on Friday and Monday, according to a filing with the […]

Read More
Ambarella shares soar 19% on report chip designer is exploring sale
Technology

Ambarella shares soar 19% on report chip designer is exploring sale

Thomas Fuller | SOPA Images | Lightrocket | Getty Images Ambarella shares popped 19% after a report that the chip designer is currently working with bankers on a potential sale. Bloomberg reported the news, citing sources familiar with the matter. While no deal is imminent, the sources told Bloomberg that the firm may draw interest […]

Read More