Lucía Peña
Dubai’s Department of Finance has announced a groundbreaking agreement with Crypto.com that will enable residents and businesses to pay government service fees using cryptocurrencies. This bold step is part of the city’s broader ambition to become a global leader in digital transformation and financial innovation.
The memorandum of understanding (MoU) was signed during the Dubai FinTech Summit, marking a major milestone for crypto adoption at a government level. Mohammed Al Hakim, President of Crypto.com UAE, signed on behalf of the exchange.
This initiative aligns with Dubai’s “Cashless Strategy,” which targets 90% of all financial transactions across public and private sectors to be digital by 2026. Government officials emphasized that the move strengthens Dubai’s position as a tech-forward smart city.
Once technical integrations are complete, both individuals and business customers engaging with government services will be able to settle payments via digital wallets using Crypto.com’s platform.
“Payments will be converted into Emirati dirhams in real-time and securely transferred to Dubai Finance accounts,” said the Department of Finance, promising an efficient and secure payment system.
What Cryptocurrencies Will Be Accepted?
While the official announcement did not specify which cryptocurrencies will be accepted, or which government services will be eligible under the new system, Crypto.com described the initiative as a “world-first program” in its scale and scope.
Neither Crypto.com nor Dubai’s Department of Finance responded to requests for further clarification from media outlets at the time of publication.
Dubai’s Growing Role in the Crypto Industry
Crypto.com first secured its license to operate in Dubai in 2023, allowing it to offer regulated virtual asset services. Just last month, the company received regulatory approval to offer limited crypto derivatives trading within the region.
Dubai has made major investments in the digital asset sector, positioning itself as a central hub for blockchain, fintech, and Web3 innovation. This new partnership adds to the momentum, offering a real-world use case for crypto in public sector finance.
