Dubai Embraces Crypto Payments for Government Services and Digital Finance

Dubai’s government partners with Crypto.com to enable cryptocurrency payments for services. By 2026, Dubai targets 90% cashless transactions to enhance financial efficiency. Stable cryptocurrencies could be integrated into Dubai’s government payment system. Dubai’s government has partnered with Crypto.com to adopt cryptocurrency payments for government services. The deal, made at the Dubai Fintech Summit on May 12, is another step toward making the city cashless. Under this agreement, individuals can pay for government services using cryptocurrency through the digital wallet of Crypto.com. Payments will be converted into dirhams and credited to the Dubai Department of Finance (DOF) accounts. The new system will make payments easier and smoother for individuals and businesses. The first step is to choose the government service through which you have to make a payment. This may include such things as utility bills, business registration fees, and licensing costs. After choosing the service, the platform will give you an opportunity to pay with cryptocurrency. Once the user selects a cryptocurrency, the system will provide a unique address to which th… The post Dubai Embraces Crypto Payments for Government Services and Digital Finance appeared first on Coin Edition .

Source: Coin Edition