Emirates has announced a preliminary agreement with Crypto.com to support cryptocurrency payments through the platform's services. This partnership aims to attract younger, tech-savvy consumers who prefer digital currencies, offering them greater flexibility and choice. The collaboration is expected to be fully implemented next year.
Dubai Duty Free also plans to introduce cryptocurrency payments in collaboration with Crypto.com. The United Arab Emirates (UAE) has been increasingly active in the global crypto industry, with many companies seeking expansion in the region. Cryptocurrency payments are becoming more common in sectors such as real estate, education, and transportation.
In 2022, Dubai established the Virtual Assets Regulatory Authority (VARA) to oversee the emerging crypto market. The Dubai Multi Commodities Centre (DMCC), one of its main free zones, has attracted over 650 crypto companies. In May, Air Arabia partnered with digital bank MBank to accept AE Coin, a stablecoin pegged to the UAE Dirham, for ticket bookings.
According to Linus Bauer, founder of BAA & Partners, while crypto payments may not replace traditional methods soon due to compatibility and compliance issues, they present a forward-looking option for airlines aiming to enhance customer experience and digital capabilities.
