What To Know
- The decision by du represents an important advancement toward the future since it shows both the UAE’s developing embrace of blockchain technology and its adherence to financial legislation.
- The adoption of cryptocurrency by du creates an industry model that other telecom and utility providers in the UAE can follow.
- The UAE telecom company du makes payments via cryptocurrency available to customers who can also use Apple Pay, Samsung Pay, debit cards and traditional credit cards.
The UAE telecom company du makes payments via cryptocurrency available to customers who can also use Apple Pay, Samsung Pay, debit cards and traditional credit cards.
du Expands Payment Options
Customers can settle payments through various channels that include cryptocurrency as well as Apple Pay, Samsung Pay and credit cards and debit cards.
The telecom provider du operates a blockchain system of payment using an unspecified cryptocurrency currency.
Apple Pay & Samsung Pay for seamless transactions.
Debit & credit cards for traditional payments.
This development follows Dubai’s active pursuit of digital financial transformation since du has maintained official silence about its changes.
UAE’s New Crypto Law & Payment Rules
The new regulations from the UAE Central Bank enable dirham-stable coin payments to operate throughout the country. The acceptance of Bitcoin, Ethereum, and Tether based stablecoins remains limited to financial free zones while they fail to meet daily payment requirements within the UAE.
Impact on the Telecom Industry
The adoption of cryptocurrency by du creates an industry model that other telecom and utility providers in the UAE can follow. Customers must verify which cryptocurrencies can be used after the latest regulatory changes take effect.
The decision by du represents an important advancement toward the future since it shows both the UAE’s developing embrace of blockchain technology and its adherence to financial legislation.
