Government officials said in a press release that the partnership will help achieve the "Dubai Cashless Strategy," which seeks to solidify Dubai's status as a leading digital city. The strategy aims to reach 90% cashless transactions across Dubai's public and private sectors by 2026.
Crypto.com's Al Hakim called the initiative a "truly global first programme."
Crypto.com first received a license for its Dubai entity to offer regulated virtual asset service activities in 2023. Last month, the company said Dubai's virtual asset regulatory body had also issued a limited license to offer derivatives.
Dubai has been betting on the crypto industry for years as part of its ambition to become a global tech hub.