Dubai Government Agrees to Accept Cryptocurrency Payments for Services

Dubai will permit cryptocurrency payments for government services through a partnership with Crypto.com. This initiative supports Dubai's goal of becoming a cashless society.

Key points include:

The agreement allows individuals and businesses to pay fees using digital wallets from Crypto.com.
Payments will be converted into dirhams by the platform.
This move aims to enhance digital payment channels and is expected to contribute at least 8 billion dirhams ($2.2 billion) annually to the economy.
Dubai has established itself as a crypto hub, launching the world’s first independent crypto regulator and licensing exchanges such as Binance and OKX.
The emirate also plans to attract 1,000 metaverse and blockchain companies by 2030.