The Dubai Department of Finance has announced a Memorandum of Understanding (MoU) with the global cryptocurrency exchange Crypto.com. This partnership allows residents and businesses to use virtual currencies for paying government service fees. The agreement was signed during the Dubai FinTech Summit, marking a significant milestone in Dubai’s journey toward becoming a digital city.
This initiative forms part of the broader Dubai Cashless Strategy, which aims to ensure that 90% of all payment transactions in both public and private sectors are conducted without cash by 2026. The strategy reinforces Dubai's ambition to be a global leader in digital governance and financial technology.
Under the new system, individuals and companies will be able to pay for public services using Crypto.com’s digital wallet. The platform will instantly convert cryptocurrency payments into UAE Dirhams (AED) and transfer the funds directly to the Dubai Department of Finance’s account. This mechanism ensures a secure, convenient, and innovative payment experience.
The President of Crypto.com in the UAE, Mohammed Al Hakim, described the initiative as a “world-first application of government payment solutions.” Specific details regarding which types of digital assets will be accepted or which government services will be covered have not yet been disclosed.
Crypto.com received regulatory approval in Dubai in 2023 to offer virtual asset trading and custody services. In April of this year, the exchange was also granted a limited operational license for derivative products by the Dubai Virtual Assets Regulatory Authority (VARA), paving the way for further innovation in financial applications.
Dubai has long been a proactive adopter of blockchain and virtual asset policies, standing out as one of the Middle East’s most progressive cities in cryptocurrency regulation and technology adoption. The collaboration with Crypto.com has drawn significant attention, and if successfully implemented, could expand into areas such as digital identity, commercial tax payments, and smart city applications.
👉 Explore advanced payment solutions
Frequently Asked Questions
What does the Dubai and Crypto.com partnership allow?
This partnership enables both individuals and businesses in Dubai to pay for government services using selected cryptocurrencies through the Crypto.com platform. The system instantly converts digital currency into UAE Dirhams for settlement.
Which cryptocurrencies will be accepted for Dubai government payments?
The Dubai government has not yet released an official list of accepted digital currencies. Further announcements are expected as the technical infrastructure is finalized and rolled out.
How will cryptocurrency payments be processed?
Payments made in cryptocurrency will be converted in real-time to AED via the Crypto.com wallet. The funds are then directly and securely transferred to the government’s account.
Is Dubai planning to expand cryptocurrency use beyond government fees?
Yes. Depending on the success of this project, the government may extend cryptocurrency payments to other domains such as commercial taxes, digital identity verification, and smart city services.
What is the Dubai Cashless Strategy?
It is a government initiative aimed at transitioning 90% of all transactions in Dubai to non-cash methods by 2026. The goal is to enhance convenience, security, and innovation in the financial ecosystem.
Why did Dubai choose to collaborate with Crypto.com?
Crypto.com is a regulated and licensed virtual asset service provider in Dubai. Its compliance with local regulations and technological capability made it a suitable partner for this public-sector digital payment initiative.