{"id":45318,"date":"2025-05-13T07:36:26","date_gmt":"2025-05-13T04:36:26","guid":{"rendered":"https:\/\/entarabi.com\/?p=45318"},"modified":"2025-05-13T07:40:23","modified_gmt":"2025-05-13T04:40:23","slug":"dubais-department-of-finance-signs-mou-with-crypto-com-to-enable-government-service-payments-via-cryptocurrency","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2025\/05\/dubais-department-of-finance-signs-mou-with-crypto-com-to-enable-government-service-payments-via-cryptocurrency\/","title":{"rendered":"Dubai\u2019s Department of Finance Signs MoU with Crypto.com to Enable Government Service Payments via Cryptocurrency"},"content":{"rendered":"<ul>\n<li dir=\"ltr\" style=\"text-align: left;\" data-start=\"273\" data-end=\"385\">Dubai to launch digital payments for government services using <strong data-start=\"336\" data-end=\"363\">stable cryptocurrencies<\/strong> through Crypto.com.<\/li>\n<li dir=\"ltr\" style=\"text-align: left;\" data-start=\"273\" data-end=\"385\">The initiative aligns with Dubai\u2019s <strong data-start=\"423\" data-end=\"444\">Cashless Strategy<\/strong> and digital transformation vision.<\/li>\n<li dir=\"ltr\" style=\"text-align: left;\" data-start=\"386\" data-end=\"481\">\n<p data-start=\"388\" data-end=\"481\">Payments will be securely processed through <strong data-start=\"528\" data-end=\"547\">digital wallets<\/strong>, converted into AED, and credited to Dubai\u2019s Department of Finance.<\/p>\n<\/li>\n<\/ul>\n<p dir=\"ltr\" data-start=\"617\" data-end=\"923\">The <strong data-start=\"649\" data-end=\"683\">Department of Finance in Dubai<\/strong> has announced the signing of a <strong data-start=\"715\" data-end=\"752\">Memorandum of Understanding (MoU)<\/strong> with global cryptocurrency exchange <strong data-start=\"789\" data-end=\"803\">Crypto.com<\/strong>, paving the way for <strong data-start=\"824\" data-end=\"851\">citizens and businesses<\/strong> to pay <strong data-start=\"859\" data-end=\"886\">government service fees<\/strong> using <strong data-start=\"893\" data-end=\"922\">stable digital currencies<\/strong>.<\/p>\n<p dir=\"ltr\" data-start=\"925\" data-end=\"1057\">The MoU was signed during the <strong data-start=\"955\" data-end=\"979\">Dubai Fintech Summit<\/strong>, held at the Dubai International Financial Centre (DIFC), in the presence of:<\/p>\n<ul dir=\"ltr\" data-start=\"1058\" data-end=\"1423\">\n<li data-start=\"1058\" data-end=\"1144\">\n<p data-start=\"1060\" data-end=\"1144\"><strong data-start=\"1060\" data-end=\"1089\">Abdulla Mohammed Al Basti<\/strong>, Secretary General of The Executive Council of Dubai<\/p>\n<\/li>\n<li data-start=\"1145\" data-end=\"1230\">\n<p data-start=\"1147\" data-end=\"1230\"><strong data-start=\"1147\" data-end=\"1177\">Abdulrahman Saleh Al Saleh<\/strong>, Director General of Dubai\u2019s Department of Finance<\/p>\n<\/li>\n<li data-start=\"1231\" data-end=\"1423\">\n<p data-start=\"1233\" data-end=\"1423\">Signing officials included <strong data-start=\"1260\" data-end=\"1280\">Ahmed Ali Moftah<\/strong>, Executive Director of Central Accounts Sector at the Department of Finance, and <strong data-start=\"1362\" data-end=\"1380\">Mohammad Hakim<\/strong>, General Manager of Crypto.com in the UAE.<\/p>\n<\/li>\n<\/ul>\n<h3 dir=\"ltr\" data-start=\"1425\" data-end=\"1475\">A Step Towards a Cashless, Tech-Driven Economy<\/h3>\n<p dir=\"ltr\" data-start=\"1477\" data-end=\"1868\">According to an official government statement, this agreement supports the goals of Dubai\u2019s <strong data-start=\"1569\" data-end=\"1590\">Cashless Strategy<\/strong>, aiming to transform the emirate into a <strong data-start=\"1631\" data-end=\"1656\">fully digital society<\/strong>. Through this MoU, <strong data-start=\"1676\" data-end=\"1709\">digital wallets on Crypto.com<\/strong> will be integrated into <strong data-start=\"1734\" data-end=\"1770\">Dubai\u2019s digital payment gateways<\/strong>, allowing secure and innovative payment of public service fees using <strong data-start=\"1840\" data-end=\"1867\">stable cryptocurrencies<\/strong>.<\/p>\n<h3 dir=\"ltr\" data-start=\"2017\" data-end=\"2075\">Boosting Dubai\u2019s Fintech Ecosystem and Economic Growth<\/h3>\n<p dir=\"ltr\" data-start=\"2077\" data-end=\"2263\">Dubai\u2019s Department of Finance estimates that the broader cashless transformation strategy could contribute <strong data-start=\"2184\" data-end=\"2210\">AED 8 billion annually<\/strong> to the local economy. This will be achieved through:<\/p>\n<ul dir=\"ltr\" data-start=\"2264\" data-end=\"2441\">\n<li data-start=\"2264\" data-end=\"2320\">\n<p data-start=\"2266\" data-end=\"2320\">Accelerating the growth of the <strong data-start=\"2297\" data-end=\"2318\">fintech ecosystem<\/strong><\/p>\n<\/li>\n<li data-start=\"2321\" data-end=\"2378\">\n<p data-start=\"2323\" data-end=\"2378\">Expanding the scope of <strong data-start=\"2346\" data-end=\"2376\">digital financial services<\/strong><\/p>\n<\/li>\n<li data-start=\"2379\" data-end=\"2441\">\n<p data-start=\"2381\" data-end=\"2441\">Supporting innovation in <strong data-start=\"2406\" data-end=\"2441\">digital payments infrastructure<\/strong><\/p>\n<\/li>\n<\/ul>\n<h3 dir=\"ltr\" data-start=\"2443\" data-end=\"2486\">Secure Payment and Seamless Integration<\/h3>\n<p dir=\"ltr\" data-start=\"2488\" data-end=\"2826\">Once technical integration is completed, individuals and businesses will be able to <strong data-start=\"2572\" data-end=\"2603\">pay for government services<\/strong> using their <strong data-start=\"2616\" data-end=\"2638\">Crypto.com wallets<\/strong>. Payments will be <strong data-start=\"2657\" data-end=\"2695\">instantly converted to UAE dirhams<\/strong> and settled in the accounts of Dubai\u2019s Department of Finance\u2014ensuring compliance, transparency, and security in every transaction.<\/p>\n<p dir=\"ltr\" data-start=\"2828\" data-end=\"3014\">This move highlights Dubai\u2019s position as a <strong data-start=\"2871\" data-end=\"2901\">regional and global leader<\/strong> in adopting next-generation technologies to improve government services and support a <strong data-start=\"2988\" data-end=\"3013\">smart digital economy<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dubai to launch digital payments for government services using stable cryptocurrencies through Crypto.com. The initiative aligns with Dubai\u2019s Cashless Strategy and digital transformation vision. Payments will be securely processed through digital wallets, converted into AED, and credited to Dubai\u2019s Department of Finance. The Department of Finance in Dubai has announced the signing of a Memorandum [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":45316,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1810],"tags":[5829,8260,4119],"class_list":["post-45318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","tag-crypto-com","tag-department-of-finance-in-dubai","tag-dubai-fintech-summit"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/45318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=45318"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/45318\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/45316"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=45318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=45318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=45318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}