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Dubai Becomes First Government to Accept Crypto for All Public Services

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Dubai has become the first government in the world to officially approve cryptocurrency for paying public service fees. This move enables residents and businesses to use blockchain-based currencies for transactions with government departments.

The Department of Finance has partnered with global exchange Crypto.com to support this initiative. The collaboration is part of the Dubai Cashless Strategy, which targets 90 percent cashless transactions across the emirate by 2026.

Crypto payments made by users will be immediately converted to Emirati dirhams when they access government accounts. This mechanism ensures that the system remains entirely in accordance with the existing financial regulations and provides a new level of payment flexibility.

Also Read: Shiba Inu Explodes on Binance as Trading Volume Surges Past $97 Million

The agreement was disclosed during the Dubai FinTech Summit and is to be implemented in all the departments without exception. No pilot stage will be present as the government is going for instant and full-scale implementation.

Crypto.com, authorized by Dubai’s Virtual Assets Regulatory Authority, will handle the transaction process. Stablecoins will be used to make payments, minimizing price volatility.

Full-Scale Integration Begins Across All Departments

Abdulrahman Al Saleh, the Director General of the Department of Finance, leads the project’s execution. He emphasized that this transition supports a sustainable digital economy and meets the city’s financial innovation goals.

According to Ahmad Ali Meftah, the Executive Director of Central Accounts, the initiative concentrates on convenience and on creating a secure and future financial network.

Technical teams are just concluding infrastructure on the crypto payment option. When finished, the system will enable the users to make government payments directly through the supported blockchain wallets.

Mohammed Al-Hakim, president of Crypto.com UAE, said the system will run throughout all the various government departments. This strengthens the city’s commitment to the full and sustainable shift to digital public finance.

Abdulla Al Basti, the Executive Council secretary general, was present at the agreement signing. Their presence also strongly indicates government support for this strategic shift.

Conclusion

Dubai’s introduction of crypto payments for public services marks a global first. With full integration and regulatory support, the city sets a new standard for digital transactions in the public sector.

Also Read: ADA Breaks Out: Brave Deal and Japan Surge Ignite Cardano Frenzy

The post Dubai Becomes First Government to Accept Crypto for All Public Services appeared first on 36Crypto.

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