Dubai Duty Free has signed a Memorandum of Understanding (MoU) with Crypto.com, a global crypto exchange regulated in UAE, to explore enabling crypto payment and develop collaborative initiatives.
As per the press release, the MoU paves the way for exploring crypto payments at Dubai Duty Free both in-store and online, offering travelers more diverse and innovative payment options and expanding collaborations through strategic partnerships, joint marketing campaigns, and customer engagement programs that leverage the strengths of both organizations.
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 HH Sheikh Ahmed bin Saeed Al Maktoum, President Dubai Civil Aviation Authority and Chairman of Dubai Duty Free.
Ramesh Cidambi, Managing Director of Dubai Duty Free noted that the MOU will offer more convenience and choice for their customers. He noted, “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 added, “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.”
Both parties will begin feasibility studies and detailed planning to bring crypto payment solutions to life and roll out collaborative initiatives under the MoU.
A couple of years back, Dubai Duty Free was in the process of offering stablecoin payments using WadzPay, but this did not materialize.
Prior to this Crypto.com exchange partnered with Emarat Energy Company to offer crypto payment options at select Emarat service stations. As per the LinkedIn post the expansion depends on regulatory approvals and customer demand.
