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Dubai is stepping up its game in digital finance. In a major move, the government has partnered with Crypto.com to allow residents and businesses to pay for government services using cryptocurrencies. The news was announced at the Dubai Fintech Summit, where the deal was formalized between Dubai’s Department of Finance and Crypto.com.
How It Works
The system will use Crypto.com’s wallet infrastructure to process payments, converting crypto into dirhams (AED) before sending them to government accounts. While the exact cryptocurrencies accepted weren’t named, the statement confirmed that stablecoins would be used to ensure smooth and secure transactions. The feature will go live once technical integrations are complete.
Crypto Finds a Home in Dubai
This isn’t just about crypto payments, it’s part of Dubai’s broader push toward a fully cashless economy. The emirate launched its “Cashless Dubai Strategy” in October 2024, aiming to make over 90% of financial transactions digital by 2026. The government is already 97% digital in its payment systems, and this new partnership is designed to accelerate that final push.
High-level officials, including Abdulla Mohammed Al Basti and Abdulrahman Saleh Al Saleh, backed the agreement, highlighting how it fits into Dubai’s D33 Economic Agenda — a plan to make the city a global innovation hub. Meanwhile, Crypto.com’s UAE head, Mohammed Al-Hakim, emphasized the deal as a step forward in normalizing crypto in everyday life.
Real Estate Goes Crypto Too
The shift isn’t limited to government services. Private sector projects, including the under-construction Trump International Hotel and Tower in Dubai, have already announced plans to accept crypto payments, showing how digital assets are becoming mainstream in the city’s booming real estate market.
Overall, Dubai isn’t just experimenting with crypto, it’s putting it to work. From paying your bills to buying property, the city is building a real-world use case for digital currencies, positioning itself as a serious global leader in fintech innovation. Will it be a threat to the US? We have to wait and watch.