Related News

Access Denied You don’t have permission to access ” on this server. Reference #18.77fdd417.1756447667.3fe9711 Source link

US ends exemptions on parcel imports under $800 (AI image) The US ended its $800 tariff exemption for package shipments on Friday, introducing a transitional period of six months where

Urjit Patel appointed executive Director to IMF (File photo) Former Reserve Bank of India (RBI) governor Dr Urjit Patel has been appointed as Executive Director of the International Monetary Fund

Dr Urjit Patel, the former Reserve Bank of India governor, has been appointed Executive Director (ED) representing India at the International Monetary Fund after the Centre’s approval for a three-year

Market experts indicate that supportive measures will provide stability to domestic markets despite international trade challenges. (AI image) Stock market today: Indian equity benchmark indices, Nifty50 and BSE Sensex, opened

NEW DELHI: The push for diversification of India’s exports to other countries is not just a short-term phenomenon but a larger policy shift for the medium- to long term as

Trending News

In today’s digital age, the opportunity to make money online without any initial investment is more accessible than ever before. Whether you’re a student looking to earn some pocket money,

In today’s digital world, make money online has become a dream many want to turn into reality. Whether you’re looking for a side hustle or aiming to build a full-time

JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this

Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public

Dubai government to accept crypto through Crypto.com partnership

Word Count: 282 | Estimated Reading Time: 2 minutes


Crypto.com logo displayed on a phone screen with representation of cryptocurrencies.

Nurphoto | Nurphoto | Getty Images

Dubai’s Department of Finance announced a partnership with crypto platform Crypto.com that will allow government service fees to be paid with cryptocurrencies.

The memorandum of understanding between Dubai government officials and Mohammed Al Hakim, president of Crypto.com UAE, was signed Monday on the sidelines of the Dubai FinTech Summit.

Government officials said in a press release that the partnership will help achieve the “Dubai Cashless Strategy,” which seeks to solidify Dubai’s status as a leading digital city. The strategy aims to reach 90% cashless transactions across Dubai’s public and private sectors by 2026.

Once technical arrangements for the initiative are finalized, individuals and “businesses customers of government entities” will be able to pay service fees through digital wallets on Crypto.com.  

“The platform will securely convert these payments into Emirati dirhams and transfer them to Dubai Finance accounts, ensuring a streamlined, secure, and innovative payment framework,” Dubai Finance added. 

Bitcoin retreats as U.S. and China agree to pause some tariffs: CNBC Crypto World

Crypto.com’s Al Hakim called the initiative a “truly global first programme.” However, the announcement did not clarify what types of digital currencies the department of finance would accept, or for which types of government fees covered by the agreement. 

Crypto.com and Dubai Finance did not immediately respond to a request for comment from CNBC. 

Crypto.com first received a license for its Dubai entity to offer regulated virtual asset service activities in 2023. Last month, the company said Dubai’s virtual asset regulatory body had also issued a limited license to offer derivatives.

Dubai has been betting on the crypto industry for years as part of its ambition to become a global tech hub. 



Source link

Most Popular Articles