Dubai is preparing to use and enable crypto payments for government services, after an agreement was signed between Dubai Finance and Crypto, a world-renowned cryptocurrency trading platform.

This paves the way for the government to use financial technology to provide a new digital payment channel on Dubai's digital portals, enabling payment for government services using stable cryptocurrencies in a safe and innovative manner.

The MoU was signed on the sidelines of the Dubai Finance and Crypto's participation in the Dubai FinTech Summit, which kicked off on Monday at the Dubai International Financial Centre (DIFC). The summit marks a pivotal step in driving Dubai's digital financial landscape towards the future.

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Once the necessary technical arrangements for activating the agreement are completed, customers of various government entities, both individuals and institutions, are expected to be able to pay government service fees using digital wallets on the Crypto platform, which will transfer these fees to Dubai Finance accounts in Emirati dirhams, within a secure and innovative pay.

The memorandum aims to support the implementation of Dubai's cashless strategy and the transition to a cashless digital society.

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