What To Know
- Dubai’s Department of Finance (DOF) has made a pioneering step to develop its digital finance terrain as it signs a Memorandum of Understanding (MoU)with global cryptocurrency platform Crypto.
- Made at the sidelines of Dubai FinTech Summit 2025, the deal was formalized in front of top government representatives such as Abdulla Mohammed Al Basti Secretary General of The Executive Council of Dubai and Abdulrahman Saleh Al Saleh Director General of DOF.
- Dubai’s leadership status as the vanguard of digital finance gets established, and a new benchmark for leading the way in public sector innovation is established worldwide by the incorporation of cryptocurrency into government payments.
Dubai’s Department of Finance (DOF) has made a pioneering step to develop its digital finance terrain as it signs a Memorandum of Understanding (MoU)with global cryptocurrency platform Crypto.com to allow customers to pay government service fees using the cryptocurrencies. This critical step underscores the Dubai Cashless Strategy and makes Dubai a world pioneer in financial innovation.
Made at the sidelines of Dubai FinTech Summit 2025, the deal was formalized in front of top government representatives such as Abdulla Mohammed Al Basti Secretary General of The Executive Council of Dubai and Abdulrahman Saleh Al Saleh Director General of DOF. The signing was signed by Ahmad Ali Meftah, Executive of Central Accounts at DOF and Mohammed Al Hakim President of Crypto.com UAE, licensed by Dubai’s Virtual Assets Regulatory Authority (VARA).
This partnership compliments the Dubai Economic Agenda D33 and it will ensure secure frictionless cryptocurrency payment for all government services. It underlines Dubai’s plans to evolve into a cashless society entirely by 2026 and to make more than 90% of transactions digital.
Eric Anziani, Crypto.com’s President and COO, called the deal a world’s first while taking pride in helping Dubai go digital. When it is rolled out, Crypto.com will convert crypto payments to dirhams and safely transfer to Dubai Finance accounts.
The officials stressed that the partnership not only provides assistance to innovation and economic growth but also increases customer confidence in the government services. Amna Mohammed Lootah, Director of Digital Payment Systems Regulation, said that this initiative could bring AED 8 billion to Dubai’s economy per annum.
Dubai’s leadership status as the vanguard of digital finance gets established, and a new benchmark for leading the way in public sector innovation is established worldwide by the incorporation of cryptocurrency into government payments.
