Crypto.com logo displayed on the phone screen with cryptocurrency representation.
Nurphoto | Nurphoto | Getty images
Finance Department in Dubai announced Partnership with the Crypto platform Crypto.com This will enable the government service for cryptocurrencies.
Memorandum arrangements between government officials in Dubai and Mohammed Al Hakim, president of Crypto.com Zea, was signed on Monday off the beaten track of the fintech Dubai summit.
District officials said in a press release that the partnership would help to achieve the “Dubai Cashless strategy”, which aims to strengthen Dubai's status as a leading digital city. The strategy aims to achieve 90% of non -cash transactions in the public and private sector in Dubai until 2026.
After completing the technical arrangements regarding the initiative of a person and “customers of government entities” will be able to pay services for services via digital portfolios at Crypto.com.
“The platform will securely transform these payments to Emirati Dirhams and transfer them to financial accounts in Dubai, providing improved, secure and innovative payment frames,” added Dubai Finance.
Al Hakim from Crypto.com called the initiative “a truly global first program”. However, the advertisement did not explain what types of digital currencies the Finance Department would accept, or for what kind of government fees covered by the contract.
Crypto.com And Dubai Finance did not immediately answer at the request for CNBC comment.
Crypto.com First He received a license That his Dubai entity would offer regulated activities of virtual assets in 2023. Last month, the company said that Dubai's regulatory body also issued limited license Offer derivatives.
Dubai was Betting of the cryptocurrency industry Over the years, as part of his ambition to become a global technology center.