Dubai’s Division of Finance (DOF), on 12 Might 2025, signed a Memorandum of Understanding (MoU) with Crypto.com to allow crypto funds for varied cost companies.
Because of this collaboration, residents and companies will be capable to pay for companies like visa charges, licensing, and utilities with crypto through Dubai Pay, the federal government’s digital cost platform. A pilot program later this 12 months will start the implementation of this service.
Crypto.com President Mohammed Al Hakim stated, “Right this moment’s announcement represents vital 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) Might 13, 2025
Abdulrahman Saleh Al Saleh, Director Basic of the Division of Finance, acknowledged, “We take nice satisfaction 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 Via VARA to Function within the UAE
Hashkey, on 12 Might 2025, introduced its official launch within the UAE with the institution of Hashkey International MENA. The Digital Asset Service Supplier (VASP) license that the corporate obtained by way of Dubai’s VARA permits Hashkey to offer crypto change in addition to broker-dealer companies inside and from Dubai.
Sherif Sanad, nation supervisor, HashKey International MENA, acknowledged, “As a licensed platform, HashKey International MENA embraces institutional wants by providing a regulated, safe gateway for fiat-crypto transactions, backed by institutional-grade safeguards and strategic partnerships like Normal Chartered.”
Going ahead, the Hashkey International MENA will deal with 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 might be facilitated by the platform in collaboration with Normal 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-Primarily based 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 Might 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 property and stablecoins, together with USDT and USDC, into AED by way of the Changer platform.
Mohammed Wassim Khayata, CEO of Mbank and a board member of Changer, acknowledged, “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, “Clients can now convert their cryptocurrencies into AED by way of Changer.ae after which use their transformed AED funds instantly and seamlessly, with Mbank holding the AED funds in escrow. Alternatively, Mwallet prospects 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 Convey Crypto to Gas Stations within the UAE
Emarat, the state-owned gasoline retail firm, by way of its partnership with Crypto.com, has enabled prospects to pay for gasoline and different retail companies utilizing cryptocurrency.
The preliminary section of this integration, introduced on 8 Might 2025, might 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, acknowledged, “Our partnership with Crypto.com displays our dedication to innovation and offering prospects with numerous cost choices. This initiative can also be consistent with the UAE’s technique to guide in digital finance and rising applied sciences.”
In consequence, Clients can now pay for gasoline utilizing Bitcoin and different digital property straight on the pump, bypassing conventional fiat transactions.
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Key Takeaways
Emarat, in collaboration with Crypto.com, has enabled prospects to pay for gasoline and different retail companies utilizing cryptocurrency.
Hashkey International MENA, now operational within the UAE, will facilitate Fiat-to-crypto transactions in USD and AED in collaboration with Normal 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.
