Dubai to accept cryptocurrencies for government services in partnership with Crypto.com

PANews reported on May 13 that, according to Finance Magnates, the Dubai government has signed a cooperation agreement with Crypto.com, which will allow residents and businesses to pay government service fees using cryptocurrencies. The plan relies on Crypto.com's technical infrastructure to achieve instant conversion of digital assets into dirhams and transfer them to government accounts. Amna Mohammed Lootah, director of the Dubai Digital Payment Systems Regulatory Authority, stated that the goal is to achieve over 90% cashless transactions in public and private sectors by 2026. This move is an important part of Dubai's D33 economic agenda, aimed at consolidating its position as a global financial innovation center.