Dubai has teamed up with cryptocurrency exchange Crypto.com to allow digital asset payments for a variety of government services.
The partnership was announced during the Dubai Fintech Summit on May 12 and forms a key part of the city’s wider plan to go completely cashless. The Dubai Department of Finance (DOF) explained that this initiative will introduce a new crypto-based payment option across official government platforms, supporting the emirate’s goal of becoming a fully digital economy.
Once operational, individuals and businesses will be able to settle service-related fees using crypto through Crypto.com’s wallet app. These payments will be automatically converted to dirhams and deposited into the DOF’s accounts, according to the department.r
Amna Mohammed Lootah, who oversees digital payment systems regulation, highlighted that Dubai aims for 90% of all financial transactions—both public and private—to be conducted without cash by 2026.
“This is a major step that will fast-track the goals of our Cashless Dubai Strategy,” Lootah stated.
Although the DOF hasn’t specified which digital assets will be accepted initially, it did clarify that users will be able to pay with “stable cryptocurrencies,” suggesting stablecoins will likely be supported.
Notably, just weeks earlier on April 28, several top institutions in Abu Dhabi, including the national sovereign wealth fund, unveiled plans to introduce a new stablecoin pegged to the UAE dirham.
Fintech Sector Growth at the Heart of the Strategy
Dubai’s push toward a cashless society was originally outlined in October 2024. At the time, authorities revealed that 97% of government payments in 2023 were already processed digitally.
Officials believe the new strategy could inject at least 8 billion dirhams (roughly $2.1 billion) into the economy, largely through fintech development and sector expansion.
Ahmad Ali Meftah, executive director of the DOF’s central accounts division, noted that the government is also in the process of refining its regulatory framework to balance innovation with robust security and efficiency standards for digital payments.
Dubai continues to position itself as a hub for crypto and blockchain innovation. The city recently hosted Token2049 from April 30 to May 1, further cementing its reputation as a crypto-friendly destination.
On March 19, Dubai also began piloting a project aimed at tokenizing real estate assets using blockchain technology—another sign of its deepening integration of digital finance tools.
Meanwhile, other regions are also warming up to crypto in public services. In the United States, a New York legislator proposed a bill in April that would allow state agencies to accept cryptocurrency for payments.
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