Dubai’s Division of Finance (DOF), on 12 Could 2025, signed a Memorandum of Understanding (MoU) with Crypto.com to allow crypto funds for varied fee companies.
Because of this collaboration, residents and companies will be capable of pay for companies like visa charges, licensing, and utilities with crypto through Dubai Pay, the federal government’s digital fee platform. A pilot program later this yr will begin the implementation of this service.
Crypto.com President Mohammed Al Hakim mentioned, “In the present day’s announcement represents important progress for the adoption of digital finance with a complete integration into the layers of presidency funds.” Notably, the corporate entered Dubai in 2023 after receiving its first Digital Asset Regulatory Authority (VARA) license.
https://t.co/vCNztATkNg is proud to be chosen to help @DOF_Dubai in a world-first settlement to allow a Authorities-wide implementation of funds digitisation.
Learn extra https://t.co/1UJbe7YEH7 pic.twitter.com/YbaoBChldI
— Crypto.com (@cryptocom) Could 13, 2025
Abdulrahman Saleh Al Saleh, Director Basic of the Division of Finance, said, “We take nice pleasure in Dubai Finance’s key function in driving the Dubai Cashless Technique and shaping a particular digital monetary future.”
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Hashkey Luggage VASP License By way of VARA to Function within the UAE
Hashkey, on 12 Could 2025, introduced its official launch within the UAE with the institution of Hashkey World MENA. The Digital Asset Service Supplier (VASP) license that the corporate obtained via Dubai’s VARA permits Hashkey to supply crypto trade in addition to broker-dealer companies inside and from Dubai.
Sherif Sanad, nation supervisor, HashKey World MENA, said, “As a licensed platform, HashKey World MENA embraces institutional wants by providing a regulated, safe gateway for fiat-crypto transactions, backed by institutional-grade safeguards and strategic partnerships like Customary Chartered.”
Going ahead, the Hashkey World MENA will give attention to offering people in addition to establishments within the area with regulated and safe entry to digital asset companies.
Moreover, fiat-to-crypto transactions in USD and AED will probably be facilitated by the platform in collaboration with Customary Chartered, a world banking group headquartered in London, UK.
Additionally, the partnership will provide over-the-counter (OTC) buying and selling companies for established cryptocurrencies.
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Dirham-Based mostly Crypto Conversion Providers Began by Mbank within the UAE
The UAE’s built-in digital financial institution, Al Maryah Group Financial institution (Mbank), together with crypto custodian Changer, introduced on 12 Could 2025, the launch of a dirham-based crypto conversion service.
The UAE’s central financial institution facilitates safe and regulatory-compliant escrow holding of AED funds utilizing Mbank’s digital infrastructure. Moreover, it allows the conversion of digital belongings and stablecoins, together with USDT and USDC, into AED via the Changer platform.
Mohammed Wassim Khayata, CEO of Mbank and a board member of Changer, said, “By offering AED Escrow Account Providers to Changer, we guarantee safe and controlled dirham-to-crypto conversions for Changer shoppers.”
Tarek Soubra, CTO at Mbank, continued, “Prospects can now convert their cryptocurrencies into AED via Changer.ae after which use their transformed AED funds instantly and seamlessly, with Mbank holding the AED funds in escrow. Alternatively, Mwallet clients can now obtain their transformed AED funds instantly into their wallets and use them for any supported transactions or for rapid money withdrawal utilizing a Jaywan ATM card.”
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Emarat and Crypto.com Collaborate to Deliver Crypto to Gasoline Stations within the UAE
Emarat, the state-owned gasoline retail firm, via its partnership with Crypto.com, has enabled clients to pay for gasoline and different retail companies utilizing cryptocurrency.
The preliminary section of this integration, introduced on 8 Could 2025, will probably be restricted to 10 Emarat gasoline stations throughout the UAE, with plans to allow crypto funds throughout its total community.
Ali Khalifa Al Shamsi, Director-Basic of Emarat, said, “Our partnership with Crypto.com displays our dedication to innovation and offering clients with numerous fee choices. This initiative can also be in step with the UAE’s technique to guide in digital finance and rising applied sciences.”
Because of this, Prospects can now pay for gasoline utilizing Bitcoin and different digital belongings instantly on the pump, bypassing conventional fiat transactions.
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Key Takeaways
Emarat, in collaboration with Crypto.com, has enabled clients to pay for gasoline and different retail companies utilizing cryptocurrency.
Hashkey World MENA, now operational within the UAE, will facilitate Fiat-to-crypto transactions in USD and AED in collaboration with Customary Chartered
Dubai DOF signed an MoU with Crypto.com to allow crypto funds for varied authorities companies
The submit Dubai Cashless Technique: Crypto.com Companions with Dubai Authorities for Fee Providers appeared first on 99Bitcoins.
