Dubai's government is partnering with Crypto.com to enable cryptocurrency payments for government services. The Dubai Finance Department (DOF), which manages the city's budget, signed a Memorandum of Understanding (MoU) with Crypto.com to facilitate the use of digital assets for settling government fees. This initiative aligns with Dubai's broader strategy to become a cashless society and enhance its position as a global leader in digital transformation.

The announcement was made at the Dubai Fintech Summit, where His Excellency Abdulrahman Saleh Al Saleh, Director General of DOF, highlighted the move's significance in deploying secure financial technology solutions. These solutions aim to streamline government transactions and foster innovation in financial services. Dubai had previously launched a "cashless strategy" campaign in October, noting that 97% of government payments were already digital.

Crypto.com President and COO Eric Anziani praised Dubai as a "true global visionary." While the specific digital coins and tokens to be accepted were not detailed, the partnership marks a significant step for Dubai, already considered a crypto-friendly city that recently hosted the Token2049 conference and serves as a base for numerous digital asset companies.

Decrypt sought clarification from Crypto.com regarding the specific government fees covered by the agreement but did not receive an immediate response. In related news, Crypto.com had previously signed a non-binding agreement with Trump Media and Technology Group in March to offer exchange-traded funds, including those based on cryptocurrencies.