Dubai partners with Crypto.com to enable crypto payments for government services

According to Cointelegraph, the Dubai government has signed an agreement with Crypto.com, planning to allow individuals and business users to pay government service fees through Crypto.com's digital wallet. Payments will be automatically converted to dirhams and transferred to the Dubai Treasury account. This initiative is part of Dubai's "cashless strategy" aimed at achieving 90% cashless transactions in public and private sectors by 2026. The Dubai Treasury stated that this collaboration will accelerate financial technology development and is expected to bring at least 80 billion dirhams (approximately $2.1 billion) of economic growth. The specific cryptocurrencies to be accepted have not yet been announced, but officials mentioned potential support for "stablecoins", suggesting a priority for these digital assets. This partnership marks an important step for Dubai in promoting digital payments and cryptocurrency applications, further solidifying its position as a globally crypto-friendly city.