Dubai taps Crypto.com to enable crypto payments for govt services

The Dubai government signed an agreement with Crypto.com to introduce crypto payments for government services as part of its cashless strategy.
This initiative aims for 90% of financial transactions in Dubai’s public and private sectors to be cashless by 2026, using stable cryptocurrencies likely including stablecoins.
Payments made through Crypto.com’s wallets will be converted to dirhams and credited to Dubai’s Department of Finance accounts.
The move supports Dubai’s ambition to expand its fintech sector and aims to add $2.1 billion to the economy, while a regulatory framework for crypto is being developed to ensure security and innovation.