Dubai residents will soon have the option to pay for government services using cryptocurrency, a groundbreaking shift that positions the city as a leader in digital finance. This initiative follows a new memorandum of understanding (MoU) signed between Dubai’s Department of Finance (DOF) and global digital asset platform Crypto.com.
The agreement, formalized during the Dubai FinTech Summit, aims to expand the Dubai Cashless Strategy by allowing government fees to be paid in crypto. Payments made through Crypto.com’s wallet will be automatically converted into Emirati dirhams before being transferred to DOF accounts.
“This is more than a payment method,” emphasized in a Gulf News report by Ahmad Ali Meftah, Executive Director of Central Accounts at DOF. “It’s about building a sustainable digital financial model for the future.” The DOF is already working on the technical integration needed to enable these payments for both individuals and businesses.
Officials highlighted that Dubai’s move goes beyond isolated pilot programs seen elsewhere, making it one of the first governments globally to fully integrate cryptocurrency payments across a wide range of public services.
Dubai’s broader vision for financial innovation is evident through its Virtual Assets Regulatory Authority (VARA) and its Dubai Economic Agenda D33, which aims to ensure over 90% of public and private sector transactions are conducted cashlessly by 2026. Authorities estimate that this shift could boost the local economy by more than AED 8 billion annually.
Senior officials present at the MoU signing, including Abdulla Al Basti, Secretary General of The Executive Council of Dubai, and Abdulrahman Al Saleh, Director General of DOF, emphasized that the agreement is a testament to Dubai’s proactive approach in adapting to economic shifts and embracing digital innovation.