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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.
Cryptocurrencies are now accepted as a form of payment at the KIKLABB free trade zone in Mina Rashid, Dubai.
STORY CONTINUES BELOW
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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
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
