Dubai Embraces Crypto: Government Fees Now Payable in Digital Assets

Dubai’s Department of Finance has announced a groundbreaking partnership with Crypto.com, enabling the payment of government service fees using large-cap cryptocurrencies. The move is seen as a major step toward digital finance integration.

The agreement was signed during the Dubai FinTech Summit between government officials and Mohammed Al Hakim, president of Crypto.com UAE. This initiative marks another leap forward in Dubai’s fintech ambitions.

Once technical infrastructure is in place, residents and business entities dealing with government agencies will be able to use their Crypto.com wallets to make payments in cryptocurrency for public services.

According to the Department of Finance, payments made in crypto will be converted into Emirati dirhams and then deposited into government accounts. This ensures both security and compliance with financial regulations.

A spokesperson for Crypto.com confirmed that the platform would enable users to pay for utilities, including parking fees, using widely recognized digital currencies like Bitcoin and Ethereum.

Dubai’s government sees this initiative as a pivotal element in its broader “Dubai Cashless Strategy.” This plan aims to make 90% of transactions in the emirate completely digital by 2026.

Al Hakim hailed the collaboration as a “truly global first programme,” reflecting Dubai’s long-standing commitment to adopting crypto innovation as part of its journey toward becoming a global technology hub.

support us via https://sociabuzz.com/infohit/tribe