Dubai govt enters partnership to accept crypto payments for services

• Published On: 13 May 2025 at 16:51

Dubai’s Department of Finance has partnered with Crypto.com to enable residents to pay government service fees using cryptocurrencies.

During the Dubai FinTech Summit, government officials and the president of Crypto.com UAE, Mohammed Al Hakim, signed a memorandum of understanding that formalised their collaboration.

In a press release, government officials stated that the partnership supports the "Dubai Cashless Strategy," which aims to establish Dubai as a leading digital city. The strategy aims to achieve 90% cashless transactions in both the public and private sectors by 2026.

Once technical preparations are completed, individuals and business customers of government entities will be able to pay service fees through Crypto.com using digital wallets.

"The platform will securely convert these payments into Emirati dirhams and transfer them to Dubai Finance accounts, ensuring a streamlined, secure, and innovative payment framework," Dubai Finance announced.

According to Mohammed Al Hakim of Crypto.com, the initiative is a "truly global first programme." However, the announcement did not specify which digital currencies the Department of Finance would accept or which government fees would be covered by the agreement.

Crypto.com and Dubai Finance have not responded to CNBC's request for comment.

Crypto.com was granted a licence in 2023 to provide regulated virtual asset services in Dubai.

Last month, the company announced that Dubai's virtual asset regulatory body had granted a limited licence to offer derivatives.

Dubai has been focussing on the cryptocurrency industry for years as part of its efforts to establish itself as a global technology hub.