Emirates, Dubai Duty Free set to allow crypto payments

Emirates Airline and Dubai Duty Free are set to allow crypto payments for flights and duty free merchandise, due to two new agreements with global digital asset platform Crypto.com, set to be implemented next year.

HH Sheikh Ahmed bin Saeed Al Maktoum, President, Dubai Civil Aviation Authority and Chairman, Dubai Airports and Chairman and Chief Executive, Emirates Airline & Group announced the news in a post on X on Wednesday.

An MoU was signed in the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, between Adnan Kazim, Emirates’ Deputy President and Chief Commercial Officer and Mohammed Al Hakim, President of Crypto.com’s UAE operations, Emirates announced in a press release issued on Wednesday.

Kazim said: “Partnering with Crypto.com to integrate cryptocurrency into our digital payments system reflects Emirates’ commitment to meeting evolving customer preferences, in addition to tapping into younger, tech-savvy customer segments who prefer digital currencies,” as per the press release.

“This strategic move is in line with Dubai’s vision to be at the forefront of financial innovation while at the same time providing our customers with greater flexibility and choice in how they transact with Emirates.”

The news comes as Bitcoin surpasses $112,000 for the first time on Wednesday.

“We’re delighted to complete the signing of this important MoU with Emirates Airline,” Eric Anziani, President and COO, Crypto.com said as per the press statement.

“As we continue to expand the everyday use case for crypto, integration with exceptional partners such as Emirates 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.”

In addition to exploring payment integration, Emirates and Crypto.com will also explore leveraging promotional marketing campaigns to create awareness and encourage adoption of this new payment solution.

Dubai Duty Free experiences record sales of AED7.901bn in 2024

The airline’s latest partnership comes as Dubai positions itself as a global cryptocurrency hub. For the past three years, UAE has developed a comprehensive regulatory framework for cryptocurrencies, earning confidence of global players seeking predictability, innovation and favorable tax regimes.

A number of Dubai companies are already accepting cryptocurrency as a form of purchase from real estate developers to major telecoms.

Earlier this month, The Dubai Land Department has signed a partnership with Crypto.com to develop a blockchain-powered investment environment for virtual real estate allowing for people to buy, sell and invest in property.

In 2024, UAE attracted crypto investments worth more than $30 billion - a regional record, according to Khaleej Times.