Major international airline Emirates signed a memorandum of understanding (MOU) with Crypto.com to integrate Crypto.com payments into the airline’s payment infrastructure, which is expected to be implemented next year.
The signing ceremony took place at His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman and CEO of Amirates Airlines, the airline Announce Wednesday.
The Memorandum of Understanding was signed by Adnan Kazim, Vice President and Chief Commercial Officer of the UAE and Mohammed Al Hakim, President of UAE Operations, Crypto.com.
“This strategic move is in line with Dubai’s vision to be at the forefront of financial innovation, while providing our clients with greater flexibility and choice in how they trade with the UAE,” Kazim said.
In addition to payment integration, the two companies will collaborate in promotions to raise awareness and drive user adoption once the service goes online.
Related: Dubai regulators clarify real-world asset tokenization rules
Dubai Eye’s Leadership
This convergence emerged as Dubai’s efforts to lead cryptocurrencies as the city sought to establish itself as a major hub for blockchain and digital asset projects.
Supported by regulatory clarity and a personal innovation environment, several industries in the emirate, from real estate to telecommunications, have opened the door to cryptocurrency payments.
Earlier this year, the ties Partner with UAE-based Reelly Tech Expand its USDT use (USDT) is stable in real estate transactions. The deal allows buyers to purchase properties using USDT through 30,000 Reelly technology agents worldwide.
Last month, the financial regulator Dubai Financial Services Agency (DFSA), which is responsible for the Dubai International Financial Centre (DIFC), Approved Ripple’s RLUSD Stablecoin. DIFC can now use RLUSD Stablecoin for a variety of virtual asset services.
Dubai Multi-Commodity Center Free Zone Attracted more than 600 crypto companiesas the country regards itself as a leader in digital finance, more and more companies are flocking to Dubai International Financial Centre and a central district.
Related: Dubai Taps Crypto.com enables encrypted payments for Govt services
Dubai sees real estate boom
Dubai’s real estate market Reaching a new high in Maytotal sales of Dh6.8 billion (about USD 18.2 billion), totaling 18,700 transactions, a year-on-year increase of 44%. This surge has come, driven by the acceleration of the acceleration of real estate tokenization.
In May only, multiple initiatives, including $3 billion RWA deal Government and industry players launched Mavryk, a real estate giant, and blockchain infrastructure provider.
On May 19, virtual asset regulators, crypto regulators in Dubai, Updated guide Including the provisions for tokenization of actual assets (RWA). Attorney Irina Heaver tells Cointelegraph that these rules provide clear paths for issuers Start and trade tokens for real estate assets.
Magazine: Highly convinced that ETH will surge by 160%, Sol’s emotional opportunity: Business Secrets
