Popular cryptocurrency exchange, Crypto.com, has entered into a strategic Memorandum of Understanding with Emirates Petroleum Company PJSC (Emarat) to enable crypto payment options at Emarat service station outlets. The exchange confirmed the partnership in a blog post on Thursday, adding that it is still subject to regulatory approval.
It’s worth noting that the Emirates Petroleum Company is a leading petroleum firm with over 155 service stations across the United Arab Emirates. As revealed, the partnership allows Emarat dealers to accept crypto as a payment option across their various outlets in the UAE. This means that Emarat customers can now enjoy crypto and digital asset services as part of their checkout solutions via Crypto.com.
As part of the partnership, the exchange users and Emarat customers will benefit from a variety of exclusive offers and promotional programs designed to uplift customers’ experience.
At the first phase of the partnership, the exchange plans to integrate 10 Emarat service stations into its payment system. As time goes on, the payment system will be integrated across the Emarat service station network. As revealed, the first station to be launched by Emarat and Crypto.com is the Emarat’s Al Ameen station in Al Wasl Road.
Emarat Chief Retail Officer reacts to the partnership
Meanwhile, the Chief Retail Officer and Senior Vice President of Marketing at Emarat, Ali Bin Zayed Al Falasi, has reacted to the partnership. Al Falasi emphasized the company’s commitment to developing innovations that improve its customers’ experience.
He added that the partnership with Crypto.com also opens up new opportunities and enhances convenience for customers. The vice president added that the collaboration also connects the energy retail sector with the emerging financial ecosystem.
Crypto.com president in the UAE, Mohammed al Hakim, also revealed that the exchange’s goal is to further enable the utility of cryptocurrency. He also shared the delight of partnering with the leading petroleum brand in the region, thus highlighting the importance of incorporating cryptocurrency into the everyday activities of individuals.
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