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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.
Por Tanzeel Akhtar
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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