- The partnership supports the implementation of Dubai’s cashless strategy, which aims to expand digital payment methods in the public sector.
- Under the agreement, Crypto.com will provide the infrastructure for converting cryptocurrencies into dirhams.
The Dubai government is set to allow residents and businesses to pay for government services using cryptocurrencies. The move comes as a result of a new partnership with global crypto platform Crypto.com, which aims to integrate digital assets into public finances on a large scale.
New payment model backed by Dubai institutions
Dubai’s Department of Finance (DOF) officially signed the agreement during the Dubai Fintech Summit. A number of government officials, including Abdulla Mohammed Al Basti, Secretary General of the Executive Committee, and Abdulrahman Saleh Al Saleh, Director General of the Department of Finance, witnessed the signing of the Memorandum of Understanding (MoU) with Crypto.com.
The partnership aims to implement Dubai's cashless strategy by providing a way to pay government fees using cryptocurrency wallets. The technical infrastructure will allow Crypto.com to convert digital assets into dirhams and transfer funds to the DOF, ensuring compliance and security.
Commenting on the move, Eric Anziani, President and COO of Crypto.com, said: “The Dubai Government has a true global vision in building a cashless society. We are honored to have been selected to support the Dubai Department of Finance in this initiative, which will allow Crypto.com to power the government’s first full implementation of payments digitization.”
The agreement supports the Emirate of Dubai’s ambition to lead financial innovation and digital transformation. This shift is aligned with the broader goals of the Dubai Economic Agenda D33, a long-term plan to enhance Dubai’s position as a global economic and innovation hub.
Officials see the move as a gateway to more inclusive and efficient services. The goal is for more than 2026 percent of public and private sector transactions to be cashless by 90, Amna Mohammed Luta, director general of digital payment systems, said.
Crypto.com Enters Public Sector Role
Once the system goes live, Dubai residents and businesses will be able to pay for public services directly from their cryptocurrency wallets. The conversion of cryptocurrencies to dirhams will be handled by Crypto.com in the background, providing a seamless user experience.
Last week, Crypto.com became the first trading partner on the Lynq Network, with real-time settlement and proceeds transfer capabilities.
The exchange said the partnership will improve the way money flows in the cryptocurrency market by reducing risk and increasing efficiency for institutional clients. The partnership will see Crypto.com join an alliance of financial and cryptocurrency firms including B2C2, Galaxy, Wintermute and Bank of America.