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Dubai Free Zone Becomes First UAE Government Entity to Accept Bitcoin
The free zone accepts payments in bitcoin, ether and the tether stablecoin.
Updated May 9, 2023, 3:16 a.m. Published Feb 17, 2021, 12:09 p.m.
Cryptocurrencies are now accepted as a form of payment at the KIKLABB free trade zone in Mina Rashid, Dubai.
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- With the news, KIKLABB has become the first United Arab Emirates government-owned entity to accept crypto payments, according to a Gulf News report Tuesday.
- The free zone is allowing customers to pay for Dubai trade licenses and visas with bitcoin, ether and the tether stablecoin.
- "KIKLABB is collaborating with international partners for payment processing of cryptocurrency transactions, guaranteeing all regulations are adhered to as a government-owned entity," KIKLABB CEO Tasawar Ulhaq told the publication.
Read more: Uber CEO Says Company to Consider Crypto for Rides, Not Its Balance Sheet
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