Dubai, UAE – May 13, 2025 — In a bold step toward embracing digital innovation, Dubai has announced plans to allow residents and businesses to pay for government services using cryptocurrency. This landmark initiative positions the emirate as the first government globally to implement widespread crypto payments for public services.

The move was formalized through a Memorandum of Understanding (MoU) signed between the Dubai Department of Finance (DOF) and global digital asset platform Crypto.com during the Dubai FinTech Summit 2025.

How It Will Work

Under the agreement, users will be able to pay government service fees using stablecoins and other supported cryptocurrencies via the Crypto.com app. The platform will convert the crypto payments into UAE dirhams (AED) in real time before transferring the funds to DOF accounts, ensuring price stability and regulatory compliance.

“This isn’t just a new payment method—it’s a step toward a sustainable and inclusive digital financial ecosystem,” said Ahmad Ali Meftah, Executive Director of Central Accounts at DOF.

Part of Dubai’s Cashless Strategy

The initiative is part of the Dubai Cashless Strategy, which aligns with the Dubai Economic Agenda D33. The strategy aims to shift over 90% of government and private sector transactions to digital or non-cash formats by 2026.

Officials estimate that a successful transition could generate more than AED 8 billion annually for the local economy by reducing cash-handling costs, improving efficiency, and supporting fintech development.

Regulated and Secure

The crypto payments will be processed through Crypto.com, a platform licensed by Dubai’s Virtual Assets Regulatory Authority (VARA). Using stablecoins tied to fiat currencies helps reduce the volatility typically associated with digital assets.

“We’re proud to work with the Dubai government on this pioneering project,” said Mohammed Al Hakim, President of Crypto.com UAE. “It’s a full-scale, real-world application of regulated digital assets—not a pilot or trial.”

What It Means for Residents and Businesses

Once launched, this payment model will allow customers to:

• Pay government fees using supported cryptocurrencies.

• Enjoy instant currency conversion with full transparency.

• Conduct transactions securely through a regulated platform.

Setting a Global Precedent

While other countries have explored crypto taxation or tested limited blockchain solutions, Dubai’s implementation marks the world’s first full integration of crypto into government fee collection infrastructure.

The agreement was signed in the presence of senior government officials, including Abdulla Al Basti, Secretary General of the Executive Council of Dubai, and Abdulrahman Al Saleh, Director General of DOF, who emphasized the emirate’s commitment to innovation and financial leadership.