Dubai, a global hub for financial innovation, has made history by becoming the first government to enable cryptocurrency payments for public service fees. This groundbreaking agreement was announced at the Dubai FinTech Summit on May 12 and outlines a secure digital payment channel using crypto wallets. The memorandum of understanding between Dubai’s Department of Finance (DOF) and Crypto.com will allow individuals and businesses to pay government fees directly with their cryptocurrency wallets, which will then be converted into Emirati dirhams and transferred to DOF accounts. This significant step aligns with the Dubai Cashless Strategy, aiming to move over 90% of financial transactions in both public and private sectors to digital methods by 2026.