Dubai's Emirates embraces crypto payements for 'younger, tech-savvy customers'

Emirates has signed a deal with Crypto.com, which will allow customers to make payments using crypto trading platforms payment services. The Gulf carrier is expecting to include 'younger, tech-savvy customers' in its market segment. The parent company of Emirates, the Emirates Group, said in a statement on Wednesday that it had signed a deal with Crypto.com.

The partnership is expected to further boost the regional and global tourism of Dubai, as well as putting it right at the forefront of the digital currency revolution. With the partnership, Emirates wants to tap into the customer segments who prefer digital currencies. Recently, Dubai Duty Free has also entered into an MoU with Crypto.com to enable digital asset payments in both physical stores and online platforms. Dubai Duty Free, one of the largest duty-free retailers in the world, serves millions of international travellers passing through Dubai International Airport annually.

The UAE has become a hub of crypto companies in recent years, with several start-ups propping up across the nation, with more than 650 crypto firms in the free zone of DMCC, in Dubai. It has already allowed payment by cryptocurrencies in areas like real estate, school fees and transportation. Notably, Dubai set up VARA, a watchdog for regulating digital assets, in 2022.

This partnership reinforces Dubai’s reputation as a global leader in innovation and technology, but also reinforces the emirate’s ongoing efforts under the D33 Agenda.