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Virtuzone, a Dubai-based business formation services provider is accepting cryptocurrency payments in partnership with Binance Pay.
Executive director of Business Development and Strategic Partnerships at Binance, Nadeem Ladki, said on Monday in a press release:
“Virtuzone’s decision to accept cryptocurrency payments and integrate Binance Pay into its systems raises the bar for innovation and demonstrates the way forward when it comes to setting up businesses in the UAE.”
Binance Pay is the contactless cryptocurrency payment service developed by world’s largest crypto exchange Binance. The platform is intended to enable instant international money transfers and user-to-user transfers, taking out third parties. It currently supports more than 40 cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).
Chairman and Co-founder of Virtuzone, Neil Petch, said:
“The partnership we have forged with Binance reflects our commitment to continue our pursuit of innovative solutions that will positively impact the UAE startup community, whilst expanding the future possibilities and opportunities for Virtuzone and its clients. Collaborating with a renowned Web 3.0 technology leader like Binance puts us at the forefront of digital transformation and the Fourth Industrial Revolution across the UAE and the region.”
Looking to become a dominant crypto hub and the world’s leading metaverse economy, Dubai’s regulatory landscape is very crypto-friendly with world leading crypto exchanges having received licenses to operate recently.
With crypto payments on the rise across the emirates after widespread adoption of cryptocurrencies, other large businesses in the United Arab Emirates such as real estate developer DAMAC and retail giant, Majid Al Futtaim.