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DUBAI ACTIVATES CRYPTO PAYMENTS FOR GOVERNMENT FEES 🇦🇪
Dubai residents can now pay government fees using cryptocurrency through
Key Facts:
✅ became the FIRST crypto firm to secure a Stored Value Facilities (SVF) license from the UAE Central Bank
✅ It's Dubai government FEES, not UAE-wide taxes
✅ Payments are auto-converted to AED or dirham-backed stablecoins (government never holds crypto)
✅ Users must onboard via VARA-licensed platform
Part of Dubai's Cashless Strategy targeting 90% cashless transactions by end of 2026, projected to add $2.2B annually to the economy.
Next step: Emirates Airlines & Dubai Duty Free integrations (pending Central Bank approval).