Key notes
- Emirates associates with Crypto.com to allow cryptographic payments.
- The partnership should increase the use of cryptocurrency in the region.
- Dubai strengthens its position as blockchain and digital asset innovation hub.
Emirates, a large global airline, has teamed up with the Crypto.com crypto-upper exchange and payment platform to allow crypto payments for its services.
The two companies have signed a memorandum of understanding (MOU) to integrate Crypto.com Pay into the infrastructure for the payment of Emirates. The implementation should start next year, ensuring that the new feature confirms the safety and compliance standards.
In a press releaseEmirates announced that the signature ceremony had taken place in the presence of its Highness Sheikh Ahmed Bin Saeed Al Maktoum, President and Chief Executive Officer of Emirates Airline & Group.
Crypto.com representative was Mohammed Al Hakim, president of the company’s water operations, while Emirates was represented by Adnan Kazim, vice-president and commercial director.
Adnan Kazim explained that the partnership with Crypto.com alignments with the continuous efforts of Emirates to adapt to the evolving preferences of its customers, in particular young travelers who promote the use of cryptocurrency for purchases.
“This strategic decision complies with Dubai’s vision to be at the forefront of financial innovation while offering our customers greater flexibility and a choice in the way they transure with Emirates,” he added.
Eric Anziani, president and chief of exploitation of Crypto.com, said that the partnership will bring a “real reality to the digital asset industry” and will allow the two companies to provide innovative financial solutions to their customers.
Dubai embraces cryptocurrency
Dubai has made constant progress to become a center for blockchain and innovation of digital assets.
In a recent development, the Solana Foundation signed a memorandum of understanding with the Dubai virtual asset regulatory authority (VARA) to establish the Dubai Solana economic zone, a collaborative environment aimed at promoting constructive commitment between Crypto developers and regulators.
In another notable decision, the Dubai land department announced in May that it would use the Grand Book XRP as a backdrop of the Blockchain for a real estate tokenization initiative.
This marks a first region, because no other register of government property in the Middle East previously adopted a public blockchain to digitize the acts of ownership.
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