It’s full steam ahead for the cryptocurrency sector in Dubai as the government’s official credit bureau partners up with blockchain company Pundi.
Pundi made the announcement today, stating that the partnership between “Dubai’s official government credit bureau and their regional distribution partners, ebooc & loyalty labs will be bringing digital payments to the public sector in an historic moment for the adoption of blockchain.”
The UAE’s official credit bureau, emcredit, has launched a digital currency called emcash. This cryptocurrency will be the means by which consumers can pay a wide variety of bills – from school fees and utilities.
The payments will be made possible by Pundi’s own X POS device created for ebooc & loyalty labs. This device will be exclusively used for cryptocurrency payments with emcash.
This move is unprecented and by making cryptocurrency payments as accessible as possible to the public, it pushes Dubai to the forefront of cryptocurrency adoption. A spokesperson from emcredit says, “We are committed to continuously improving the services we offer to our customers in accordance with the directive of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai. To be the world’s first city to offer blockchain-based payment solutions to our residents is an exciting moment for Dubai. It confirms Dubai’s status as an international tech hub.“