Key Insights
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Dubai has partnered with Crypto.com to enable residents and businesses to pay for government services using cryptocurrencies, supporting the emirate’s 2026 cashless strategy.
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Crypto.com will manage crypto-to-dirham conversions, ensuring compliant, secure, and seamless transactions; stablecoins are expected to be used.
DUBAI (MarketsXplora) – The Government of Dubai has signed an agreement with global cryptocurrency exchange Crypto.com to enable residents and businesses to pay for government services using digital assets, in a major step toward becoming a fully cashless society.
The agreement, formalized during the Dubai FinTech Summit, marks the first comprehensive crypto payment integration across government platforms and aligns with the emirate’s ambitious Dubai Cashless Strategy. The initiative is also a key component of the broader Dubai Economic Agenda D33, which seeks to position the city as a leading global center for financial innovation and digital transformation.
Under the terms of the memorandum of understanding (MoU), signed by the Dubai Department of Finance (DOF) and Crypto.com, users will soon be able to pay service fees directly through their cryptocurrency wallets. While the specific digital assets to be accepted were not named, officials indicated that “stable cryptocurrencies” would be supported, hinting at the use of stablecoins.
Crypto.com will manage crypto-to-dirham conversions
Crypto.com will handle the backend conversion of digital assets into United Arab Emirates dirhams (AED), transferring the funds to the DOF. The move is designed to ensure compliance, security, and a seamless experience for users.
Eric Anziani, President and Chief Operating Officer of Crypto.com, praised Dubai’s leadership in adopting innovative financial technologies.
“The Government of Dubai has been a true global visionary with its plans for a cashless society. We are proud to be selected to support Dubai’s Department of Finance as part of this initiative, which sees Crypto.com enable the delivery of the first comprehensive and holistic Government-wide implementation of payment digitisation,” Anziani said.
Key government figures present at the signing included Abdulla Mohammed Al Basti, Secretary General of the Executive Council, and Abdulrahman Saleh Al Saleh, Director General of the Department of Finance.
Dubai’s Cashless Strategy Aims to Digitize 90% of Transactions by 2026
The initiative supports Dubai’s goal of having over 90% of public and private sector transactions conducted via cashless methods by 2026. Amna Mohammed Lootah, Director of Digital Payment Systems Regulation, expressed confidence that the partnership would significantly advance the city’s digital payment ambitions.
“We are confident that this milestone will significantly accelerate the advancement of the Dubai Cashless Strategy,” Lootah said.
The Dubai Cashless Strategy, originally launched in October 2024, builds on strong momentum in digital adoption. According to the DOF, 97% of all government payments in 2023 were already made digitally.
Public Sector Crypto Integration Poised to Boost Fintech and Economy
The city projects that the digitisation of public payments could add as much as 8 billion dirhams ($2.1 billion) to the local economy, driven by the expansion of fintech services and enhanced financial efficiency.
Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at the DOF, stated that the government is actively developing a regulatory framework that “fosters innovation while ensuring the highest standards of security and efficiency” in digital financial transactions.
Dubai has consistently positioned itself as a crypto-forward jurisdiction. The emirate recently hosted the Dubai edition of Token2049, one of the world’s premier crypto conferences, between April 30 and May 1. In addition, on March 19, the government launched a pilot project to tokenize real estate assets on blockchain.
The announcement also follows news from April 28, when a group of major Abu Dhabi institutions—including the Emirate’s sovereign wealth fund—revealed plans to introduce a dirham-pegged stablecoin, signaling rising regional momentum in crypto-based finance.
Globally, Dubai is not alone in exploring the use of cryptocurrency for public payments. In the United States, a New York state lawmaker introduced legislation in April that would allow government agencies to accept crypto payments.
The launch date for Dubai’s crypto payment system has yet to be confirmed, but officials suggest the infrastructure is now in place, marking a significant step in the city’s digital evolution.