UAE Residents Can Soon Use Cryptocurrency for Salaries, Bills, and Fines
UAE Residents will soon be able to receive salaries and pay for utility bills, groceries, and traffic fines through cryptocurrency, as digital currencies gain traction in the region.
Both public and private sectors are promoting the adoption of digital currencies, particularly among younger generations.
For more updates, connect with us on WhatsApp!
In a significant move, Dubai has announced plans to enable cryptocurrency payments for government services following an agreement with Crypto.com, a leading cryptocurrency trading platform.
Ola Doudin, CEO of BitOasis, highlighted that this shift redefines cryptocurrency from merely an investment tool to a practical utility in the public sector.
Doudin emphasized the real-world applications of stablecoins, which are increasingly used to preserve savings in high-inflation countries and facilitate faster, lower-cost remittances. Numerous companies in sectors such as property, airlines, and fuel are already accepting cryptocurrency.
In a notable legal case, a Dubai court ordered a company to pay an employee’s dues in both dirhams and cryptocurrency, underscoring the growing acceptance of digital currencies.
Experts predict that cryptocurrency adoption will progress from government portals to high-value sectors like hospitality and retail.
With proactive regulatory frameworks in place, Dubai’s financial infrastructure is well-equipped to support this transition.
Many small businesses, including restaurants, have started accepting various cryptocurrencies, and the trend is expected to continue growing, making cryptocurrency payments a common practice in the UAE.
Follow us on Facebook for the latest updates!
Read more
Khaleej Times
