RATE Group | Dubai Set to Introduce Cryptocurrency Payments
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Dubai Set to Introduce Cryptocurrency Payments

09 Oct Dubai Set to Introduce Cryptocurrency Payments

Posted at 21:43h in Cryptocurrency News by

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Dubai will enable its citizens and residents to make digital payments for retail purchases, bills, and even school fees with a state-backed cryptocurrency thanks to a partnership between Emcredit – Dubai’s Credi Bureau and two blockchain-related firms.

Using Cryptocurrency to Pay the Bills

Consumers in Dubai, UAE will soon be able to pay for their bills, retail purchases, telecommunications, school fees, and other utilities using the state-backed emCash, according to local media. It’s issued by the Credit Bureau of Dubai which is a subsidiary of the Dubai Department of Economic Development.

In order to make all this happen, the city is entering into a partnership with payment provide Pundi X – a company which has developed a POS device for exclusive usage of emcash. The other company in the agreement is Ebooc Fintech & Loyalty Lab which is providing blockchain-based technology as well as loyalty solutions.

Speaking on the matter was a spokesperson from Emcredit, who…

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