The Emirates Airlines Group signed a memorandum of understanding with the “Crypto.com” platform to integrate the enhancement solutions in the encrypted currencies within its operational systems, in cooperation with the “Dubai Free Market”.
The memorandum was signed in the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, Supreme President and CEO of Emirates Airlines and the group, as well as executive leaders of the two companies, in a move aimed at enhancing payment and consistency options with government trends to develop the digital economy system in the emirate.
According to an official statement issued by the media office of the Dubai Government, this step reflects Dubai’s ambitions to consolidate its position as a global center of blockchain technologies and digital currencies, and it is expected to start integrating the “Crypto.com Pay” service next year, in parallel with the launch of awareness campaigns for customers to support the gradual accreditation of the system.
This step comes after the Dubai Land and Property Department announced a similar partnership with the same platform, in preparation for digitizing real estate transactions and supporting the real estate market targets in the country that exceeds a trillion dirhams.
It is noteworthy that the UAE has already started adopting government payments in digital currencies, within the framework of a comprehensive strategy to activate financial innovation and expand payment options for citizens and investors alike.
The step of the Emirates Airlines group in integrating the encrypted currencies solutions comes within a partnership with the “Crypto.com” platform, in the context of the accelerated direction of the Emirate of Dubai towards developing the structure of the digital economy. Universal Financial Technologies.
This step is consistent with the government’s vision in diversifying the payment options for citizens and visitors, and paying the wheel of digital transformation in the travel and retail sectors, and the partnership is an affirmation of the continuous increase in accepting digital currencies in the local organizational environment, especially after government agencies allowed to pay some public fees through digital assets, as well as the efforts of the real estate parties towards digitizing transactions using the coded symbols (Tokeenization), which contributes to supporting a market that exceeds a trillion dirhams.
