Dubai will accept the CRIPTO for government salaries in a global state

Dubai will become one of the first governments in the world to fully enable CRIPTO payments for public services, after a significant agreement was signed between Dubai’s Department of Finance and Cripto.com.

Announced at Dubai Fintech 12 summit. Maya, Memorandum of Understanding Description of plans For a secure digital payment channel that allows individuals and companies to pay government fees using cryptocurrency bills.

These payments will be converted to the DIRHAMS Emirates and switch to DOF accounts, marking a big step forward in the implementation of Dubai National Strategy, according to CRIPTO.com.

Dubai as Cripto Hub

The initiative is part of Dubai wider ambition to position himself as Global hub for financial innovation. The city’s helpless strategy aims to transfer more than 90% of financial transactions in public and private sectors to digital methods until 2026. Years.

According to the DOF, the adoption of payment enabled Blockckains could contribute at least 8 billion AED of 10 billion local economies by encouraging Fintech growth and simplification of financial services.

The agreement, which officials describe as the first of this kind at the government level, transcending pilot programs in other jurisdictions and integrate cropto pay directly into Dubai digital infrastructure.

Once technical integration is complete, users will be able to access the service through CRIPTO.com’s wallet, allowing seamless and secure crypto transactions in all more participant state entities.