Dubai’s Department of Finance has announced a groundbreaking partnership with the cryptocurrency platform Crypto.com, allowing government service fees to be paid using cryptocurrencies. The memorandum of understanding was signed on Monday during the Dubai FinTech Summit, with Mohammed Al Hakim, president of Crypto.com UAE, representing the platform.
This collaboration aims to support the “Dubai Cashless Strategy,” which seeks to enhance Dubai’s reputation as a leading digital city. The strategy targets achieving 90% cashless transactions across both public and private sectors by 2026.
Once the technical arrangements are completed, individuals and businesses interacting with government entities will be able to settle service fees via digital wallets on Crypto.com. The platform will securely convert these cryptocurrency payments into Emirati dirhams and transfer the funds to Dubai Finance accounts, creating a streamlined and secure payment process. Al Hakim described the initiative as a “truly global first programme.” However, the announcement did not specify which cryptocurrencies will be accepted or the types of government fees covered under the agreement.
Crypto.com previously obtained a license in 2023 to offer regulated virtual asset services in Dubai, and just last month, the city’s virtual asset regulatory body granted the company a limited license to offer derivatives.
Dubai continues to invest in the crypto industry as part of its strategy to establish itself as a global technology hub.
