KEY TAKEAWAYS
- Dubai Finance partners with Crypto.com to enable cryptocurrency payments for government service fees, marking a significant step in digital finance.
- The initiative supports Dubai’s Cashless Strategy, aiming to transition to a fully digital, cashless society.
- This collaboration highlights Dubai’s commitment to adopting secure cryptocurrency solutions and enhancing its global standing in digital payments.
- Once technical arrangements are complete, Crypto.com will facilitate secure payment conversions to Emirati dirhams for Dubai Finance.
Dubai, 12 May 2025—Dubai Finance (DOF) has signed a Memorandum of Understanding (MoU) with Crypto.com, a globally recognized cryptocurrency trading platform, to facilitate government service fee payments using cryptocurrencies. This agreement marks a pioneering milestone in digital finance on a global scale.
The MoU was officially signed in the presence of His Excellency Abdulla Mohammed Al Basti, Secretary General of the Executive Council of Dubai, and His Excellency Abdulrahman Saleh Al Saleh, Director General of DOF. The agreement was formalized by Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at DOF, and Mohammed Al Hakeem, Head of Operations at Crypto.com UAE. The signing took place during the Dubai FinTech Summit at the Dubai International Financial Centre.
Advancing Dubai’s Digital Finance Landscape
This partnership is set to accelerate the implementation of the Dubai Cashless Strategy, which aims to foster secure, efficient, and inclusive financial transactions through cryptocurrencies. The initiative supports Dubai’s transition to a fully digital, cashless society by empowering the Government of Dubai to launch a new digital payment channel on its digital portals.
His Excellency Abdulla Mohammed Al Basti emphasized that adopting secure cryptocurrency solutions within the Government of Dubai’s payment system reflects a proactive approach to future needs and global economic developments. He noted that Dubai continues to advance through coordinated efforts across government entities and key sectors.
Strategic Partnerships for Economic Growth
His Excellency Abdulrahman Saleh Al Saleh highlighted Dubai Finance’s role in driving the Dubai Cashless Strategy and shaping a distinctive digital financial future. He underscored the significance of the MoU with Crypto.com in aligning with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to elevate Dubai’s global standing in digital payments.
Eric Anziani, President and COO of Crypto.com, expressed pride in supporting Dubai’s Department of Finance as part of this initiative. He acknowledged the exceptional vision of Dubai’s leadership in shaping the future of economic growth through ambitious programs.
Ahmad Ali Meftah reaffirmed Dubai Finance’s commitment to embracing the latest financial technologies. He stated that collaboration between the public and private sectors is vital for driving this transformation, enhancing customer trust, and unlocking new opportunities for economic growth.
Amna Mohammed Lootah, Director of Digital Payment Systems Regulation, stated that the Dubai Cashless Strategy aims to solidify the emirate’s position among the world’s leading digital cities. The strategy is expected to drive economic growth by adding at least AED 8 billion annually to the economy.
Once the necessary technical arrangements are finalized, individuals and businesses will be able to pay service fees through Crypto.com’s digital wallets. The platform will securely convert these payments into Emirati dirhams and transfer them to Dubai Finance accounts, ensuring a streamlined and secure payment framework.
For more details, the announcement can be found here.
Why This Matters: Impact, Industry Trends & Expert Insights
Dubai’s Department of Finance has partnered with Crypto.com to allow cryptocurrency payments for government services, marking a major step in the emirate’s digital finance evolution.
Recent industry reports indicate that Dubai is at the forefront of cryptocurrency payment adoption, with initiatives expanding into various sectors such as tourism and public services. This aligns with Dubai’s strategic move to integrate cryptocurrency into government services, showcasing its leadership in digital finance.
As per insights from a Security.org report, there are ongoing concerns about cryptocurrency security, with 40% of owners expressing doubts. This supports the significance of secure frameworks in Dubai’s initiative to enhance consumer trust in digital payments.
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