Dubai’s government signed a partnership with Crypto.com on May 12 during the Dubai Fintech Summit.
The agreement allows residents and businesses to use crypto to pay for government services.
The Dubai Department of Finance (DOF) confirmed that Crypto.com will process the payments. Customers can pay using crypto through Crypto.com wallets. The company will convert the crypto into dirhams and send the funds to the DOF.
The announcement did not mention specific cryptocurrencies. However, the DOF said the platform would accept “stable cryptocurrencies,” suggesting stablecoin payments like USDT or other fiat-pegged assets.
This move supports Dubai’s goal to expand crypto use within public services. It also links with earlier plans from Abu Dhabi institutions, which announced on April 28 their intention to launch a stablecoin backed by the dirham.
Dubai Cashless Strategy Targets 90% of Transactions by 2026
The Dubai cashless strategy aims to make 90% of all financial transactions cashless by 2026. This applies to both public and private sectors.
Amna Mohammed Lootah, director of digital payment systems regulation, said the new payment system will help accelerate the strategy:
“We are confident that this milestone will significantly accelerate the advancement of the Dubai Cashless Strategy.”
The strategy was first introduced in October 2024. By that time, 97% of all government payments were already processed digitally in 2023.
The goal is to replace remaining cash-based transactions and support secure digital alternatives.
According to the DOF, the cashless approach could add at least 8 billion dirhams ($2.1 billion) to the city’s economy. The projection includes gains from digital services, payments, and other fintech sector activities.
Stablecoin Payments to Support Fintech and Regulation in Dubai
The new crypto payment system is part of a broader push to develop Dubai’s fintech infrastructure. The city has already started work on projects that apply blockchain in public operations.
In March, Dubai launched a pilot project to tokenize real estate on blockchain.
That program is testing how property ownership and transfer could be handled using digital tokens. These tests aim to prepare the legal and financial systems for future digital integration.
Ahmad Ali Meftah, executive director of the central accounts sector at the DOF, said the government is still building a regulatory framework.
The aim is to keep financial activity safe and efficient:
“We are still actively developing a regulatory framework that fosters innovation while ensuring the highest standards of security and efficiency.”
The Crypto.com partnership adds to these efforts. It introduces a new option for digital payments while Dubai finalizes its rules around crypto.
Dubai Expands Crypto Use Through Official Events and Projects
Dubai continues to strengthen its crypto profile through events and new services. The city hosted the Token2049 conference between April 30 and May 1. This brought together global companies in blockchain and finance.
Before that, the government started testing blockchain use in real estate through tokenization programs.
These are separate from the crypto payments partnership but show the broader strategy of applying blockchain across sectors.
Other governments are exploring similar steps. In April, a New York lawmaker introduced a bill to let state agencies accept crypto.
Dubai’s move places it among jurisdictions testing real use cases for crypto in public services.
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