Dubai Enables Cryptocurrency for Government Services

On May 12, 2025, Dubai's Department of Finance (DOF) announced a collaboration with Crypto.com. This partnership enables residents and businesses to pay for government services using cryptocurrency.

The move is part of Dubai's Cashless Strategy, which targets 90% of financial transactions to be cashless by 2026. Crypto.com will handle the digital payments and convert them into Emirati dirhams before transferring the funds to the government.

You can read in further detail about the partnership here

Once live, this system will allow users to pay through Crypto.com’s app or wallet for a range of public services. Dubai continues to position itself as a testbed for financial innovation.

Abu Dhabi’s Sovereign Wealth Fund Increases Bitcoin Exposure

In Q1 2025, Abu Dhabi’s Mubadala Investment Company increased its holdings in BlackRock’s iShares Bitcoin Trust (IBIT) to 8.7 million shares, worth approximately $408.5 million. This information was disclosed in a recent 13F filing with the SEC.

This increase contrasts with other state funds like Wisconsin’s, which recently scaled back their direct Bitcoin ETF exposure. Mubadala’s position reflects continued confidence in Bitcoin as part of their diversified investment portfolio.

UAE’s Strategic Position in the Digital Asset Space

Dubai is enabling the use of cryptocurrency in daily transactions. Abu Dhabi is backing Bitcoin through sovereign investments. Both actions reflect the UAE's broader strategy to lead in digital asset infrastructure and adoption.

As per a study by Atmos, the UAE had one of the highest rates of cryptocurrency ownership in 2024.

Few countries are moving this quickly or decisively. The United Arab Emirates is combining regulatory clarity, public-private partnerships, and capital allocation to become a central player in global crypto markets.

Follow us on LinkedIn to receive push notifications on our latest posts.