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Dubai's Emirates signss preliminary agreement to add crypto to payment

Emirates' parent company announced in a Wednesday statement that the airline has reached a preliminary agreement with Crypto.com, which will enable its customers to pay through the platform's payment system.

Adnan Kazim said that the partnership would be implemented next year and aimed to tap into "younger tech-savvy segments of customers who prefer digital currency", according to a statement by Adnan Kazim.

In recent years, the United Arab Emirates is emerging as an important hub for crypto companies. Several have opened or are seeking to expand their businesses, and they've enabled payment via cryptocurrency in areas such as real estate, education fees, and transportation.

Dubai's largest free zone, the DMCC hosts over 650 crypto companies. The city has set up the watchdog VARA to regulate the virtual asset sector in 2022.

In recent years, other airlines have adopted cryptocurrency as a payment option. Air Arabia, a Dubai-listed airline, announced in May that it would accept the stablecoin AE Coin backed by UAE dirhams for bookings. (Reporting by Federico Maccioni)

(source: Reuters)