Dubai’s Department of Finance (DOF) has taken a significant step towards modernizing and digitizing its government services with its latest partnership with Crypto.com. This innovative partnership aims to process payments for government services in the emirate, in line with the Dubai Cashless Strategy, which aims to digitize 90 percent of all transactions in the region.
This strategic move highlights Dubai’s commitment to staying at the forefront of technological advancements and creating a more efficient and seamless experience for its residents and visitors. With the increasing popularity of cryptocurrencies, this partnership will bring added convenience and accessibility for individuals and businesses alike.
One of the key objectives of the Dubai Cashless Strategy is to create a smart and cashless society that is in line with Dubai’s vision to become a global leader in innovation and technology. With the DOF’s partnership with Crypto.com, this goal is well on its way to becoming a reality.
According to His Excellency Abdulrahman Saleh Al Saleh, Director General of DOF, “The partnership between DOF and Crypto.com is an important step towards achieving the goals set out in the Dubai Cashless Strategy. We are continuously looking for ways to enhance our services and provide our residents with the latest and most efficient solutions. With this partnership, we are confident that we will be able to provide a more seamless and secure payment experience for our customers.”
Crypto.com is a pioneering cryptocurrency platform that offers a range of services, including a mobile app for buying, selling, and trading cryptocurrencies, as well as a Visa card that allows users to spend their crypto assets at over 60 million merchants worldwide. With its proven track record and expertise in the field, Crypto.com is the ideal partner for the DOF to implement its cashless strategy effectively.
The partnership between DOF and Crypto.com will also bring several benefits for the emirate. It will attract more businesses and investors to Dubai, as it provides a more efficient and modern way of conducting transactions. Additionally, it will enhance the overall economic ecosystem by creating a more secure and streamlined payment process.
Kris Marszalek, Co-founder and CEO of Crypto.com, expressed his excitement about the partnership, stating, “We are thrilled to be partnering with DOF to bring the benefits of cryptocurrency to Dubai. This collaboration will not only enhance the efficiency of government services but also showcase Dubai’s progressive approach towards technology and innovation.”
This partnership is not the first time Dubai has taken steps towards embracing cryptocurrencies and blockchain technology. In 2019, the Dubai Multi Commodities Centre (DMCC) launched its own cryptocurrency platform, “DMCC Tradeflow,” to facilitate trade finance for businesses. Dubai’s forward-thinking and progressive mindset towards emerging technologies have made it a hub for innovation and attracted many international businesses to set up their headquarters in the region.
In conclusion, the partnership between DOF and Crypto.com is a significant milestone in Dubai’s journey towards a cashless society. It not only highlights the emirate’s commitment to driving innovation but also showcases its determination to create a more efficient and modern society for its residents and visitors. With this partnership, Dubai is once again proving to be a global leader in embracing emerging technologies and paving the way for a more advanced and sustainable future.
