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.

Disclosure

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.