Dubai Free Zone Becomes First UAE Government Entity to Accept Bitcoin

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Dubai Free Zone Becomes First UAE Government Entity to Accept Bitcoin

Cryptocurrencies are now accepted as a form of payment at the KIKLABB free trade zone in Mina Rashid, Dubai.

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.

This is an exciting development, as this means there will definitely be more nations to follow.

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