Dubai Government-Owned Licensing Firm Starts Accepting BTC, ETH, & USDT as Payments

“Cryptocurrencies are the payment method of the future,” said Tasawar Ulhaq, CEO of Kiklabb.

Dubai government-owned licensing solutions, Kiklabb, has started accepting cryptocurrencies as a payment option for the trade licenses and visa fees.

The supported digital currencies include Bitcoin (BTC), Ethereum (ETH), and the stablecoin Tether (USDT), reported a local publication.

Besides paying with a digital asset, the firm allows its customers to register for Dubai trade licenses remotely just using their smartphone. Tasawar Ulhaq, CEO of Kiklabb said,

“We’ve seen growing interest in cryptocurrency, with several customers in the blockchain and fintech sectors part of the Kiklabb community. So it really was just a matter of time before we recognised Bitcoin, Ethereum, and Tether. Cryptocurrencies are the payment method of the future.”

Ulhaq further shared that they are the first government-owned licensing entity in the UAE to accept cryptocurrency payments. Still, it expected this trend to only continue as the technology rapidly gains traction across the Middle East.

“I’m eager to see how it changes the way we do business in the near future,” he added. “We’re in talks with high-profile players in the cryptocurrency sector who are exploring entry into Dubai.”

The region has a robust community of local and international companies working in the cryptocurrency sector in the fields of education, healthcare, and food technology.

Cryptocurrency adoption took over the starting 2020 when the coronavirus pandemic made digital payments a necessity. This year, this is continuing even at a faster pace, with big giants also joining in.

Besides companies, even cities and municipalities are taking an increased interest. Miami has already voted to start using Bitcoin for city government transactions and even add it to their Treasury to attract tech companies to the area.

While Mayor Francis Suarez is looking to turn Miami into a tech hub as he said, “It’s wonderful to be a very ‘crypto-forward’ city in the city of Miami,” Commissioner Joe Carollo, who voted against the plan, said, “I can’t drink the Kool-Aid on this one.”

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide