Dubai Duty Free signs MoU with Crypto.com for crypto payments

Dubai Duty Free has signed a Memorandum of Understanding (MoU) with Crypto.com, a global leader in cryptocurrency services, to explore enabling crypto payment and develop collaborative initiatives.

 

The MoU paves the way for exploring crypto payments at Dubai Duty Free both in-store and online, offering travellers more diverse and innovative payment options.

 

The agreement was signed at the Emirates Headquarters by Ramesh Cidambi, Managing Director of Dubai Duty Free, and Mohammed Al Hakim, President of UAE Operations at Crypto.com.

 

The signing took place in the presence of Sheikh Ahmed bin Saeed Al Maktoum, President Dubai Civil Aviation Authority and Chairman of Dubai Duty Free.

 

Dubai Duty Free's plan to accept cryptocurrency marks a bold step toward redefining the future of travel retail, catering to a wider spectrum of customer preferences while staying firmly aligned with the UAE's vision of fostering innovation and driving digital transformation across both retail and financial sectors.

 

Both parties will begin feasibility studies and detailed planning to bring crypto payment solutions to life and roll out collaborative initiatives under the MoU.

 

Commenting on the MoU signing, Cidambi said, “This MoU underscores our commitment to innovation and to providing greater convenience and choice for our customers. As a global hub welcoming millions of travellers, Dubai Duty Free continually seeks to enhance the retail experience. We believe that embracing digital currency payments, such as cryptocurrency, is a forward-looking step that will add significant value for our diverse customer base and support our vision for sustained growth.”

 

Eric Anziani, President and COO, Crypto.com said, “We’re delighted to complete the signing of this important MoU with Dubai Duty Free. As we continue to expand the everyday use case for crypto, integration with exceptional partners such as Dubai Duty Free will bring real momentum to the digital asset industry and enable both companies to offer genuine innovative finance solutions for our customers. We look forward to working together as we continue to build our crypto offering in the GCC.”

 

Alain Yacine, President of Middle East, Crypto.com added, “Our focus is on developing a comprehensive and exceptional suite of products for our customers, which leverage the potential of digital finance and drive expansion of this critical sector. Signing an MoU with Dubai Duty Free will provide us a platform to achieve this with an exceptional partner in the region and we’re thrilled at the prospect of working with them on this venture.” -TradeArabia News Service