Dubai Finance (DOF) has signed a groundbreaking Memorandum of Understanding (MoU) with Crypto.com to allow cryptocurrency payments for government service fees, marking a pioneering step in global digital finance.
This initiative supports the Dubai Cashless Strategy and aims to make the emirate a global hub for financial innovation.
The agreement was signed during the Dubai FinTech Summit in the presence of senior government officials and Crypto.com leadership. Through this partnership, Dubai will introduce a new payment channel for government services using stable cryptocurrencies, with Crypto.com facilitating the transactions. Payments made through the platform will be converted to Emirati dirhams and transferred to DOF accounts, ensuring compliance and security.
Dubai aims to become a fully digital economy, targeting 90% cashless transactions across public and private sectors by 2026. The initiative is part of the D33 Economic Agenda, expected to inject AED 8 billion annually into the economy by accelerating fintech growth and innovation.
Crypto.com’s UAE President, Mohammed Al Hakim, and DOF’s Ahmad Ali Meftah emphasized that the move would transform how government fees are paid, ensuring efficiency, transparency, and inclusivity. The integration positions Dubai at the forefront of crypto adoption in government services, aligning with its vision for sustainable economic diversification.
The announcement and strategic vision were first reported by Bitcoin Magazine, highlighting Dubai’s bold approach to reimagining financial systems through blockchain and crypto innovation.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
