Emirates has signed a memorandum of understanding with Crypto.com for the integration of cryptocurrency payments into its systems. The implementation is expected next year.
Signing of the MoU
The signing ceremony took place in the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates. The document was signed by Adnan Kazim, Emirates’ deputy president and chief commercial officer, and Mohammed Al Hakim, president of Crypto.com’s UAE operations.
Plans for Collaboration
Kazim noted that this strategic decision aligns with Dubai's vision for financial innovation and will provide customers with increased flexibility in transactions with Emirates. The companies also plan joint promotional campaigns to raise awareness and drive user adoption once the service goes live.
Crypto and Real Estate Market in Dubai
The integration of crypto payments comes amid Dubai's efforts to lead in the crypto finance sector. The city promotes the use of cryptocurrencies across various industries, including real estate. Recent data indicate that Dubai’s real estate market reached new heights, with a 44% increase in transaction volume compared to the previous year.
The signing of the memorandum between Emirates and Crypto.com highlights the growing interest in cryptocurrency in Dubai, which aims to position itself as a leader in digital assets.
