Emirates Signs Initial Agreement To Add Crypto Payments

Emirates airline (photo: x @emirites)

JAKARTA The Emirates airline signed an initial agreement with Crypto.com that allows customers to make payments through the crypto platform payment service. This was revealed by Emirates' parent company on Wednesday, July 9.

This collaboration is expected to take effect next year and aims to attract segments of young and technology literate customers who prefer digital currencies. This partnership targets segments of young and tech-savvy customers who prefer to use digital currencies," said Adnan Kazim, Vice President and Chief Commercial Officer of Emirates, in a statement.

The United Arab Emirates (UAE) has continued to develop as a major center for crypto companies in recent years. Many crypto companies have established offices or expanded their operations in the country. In addition, payments using crypto have also been implemented in other sectors such as property, school fees, and transportation.

In Dubai, the virtual asset supervisory authority (VARA) was formed in 2022 to regulate the growing virtual asset sector. One of the largest free zones in the city, the Dubai Multi Commodities Center (DMCC), is now home to more than 650 crypto companies.

Other Airlines Also Adopt Crypto

Several other airlines have also adopted payment options using crypto in recent years. In the Gulf region, Dubai-listed Air Arabia airline last May announced it would receive an AE Coin stablecoin backed by the UAE dirham to book flight tickets.

Emirates' move marks the wider adoption of digital currencies in the aviation industry and reinforces Dubai's position as one of the major centers of the global crypto ecosystem.