Renowned international aviation company, Emirates has signed a memorandum of understanding (MoU) with Crypto.com. The global airline made the revelation on Wednesday via a blog post as part of its bid to fully embrace digital assets.
As part of the agreement, the firm is set to integrate Crypto.com into its payment system, allowing users to make seamless transactions with various types of cryptocurrencies. In the statement, Emirates disclosed that the implementation will take place next year.
Also, the collaboration will mature beyond payment integration as the new partners will work on promotional campaigns to boost users’ awareness about the initiative. This plan, according to the aviation powerhouse, will help enhance users’ adoption once the payment option becomes available.
Meanwhile, Adnan Kazim, Emirates’ deputy president and chief commercial officer alongside Mohammed Al Hakim, president of Crypto.com UAE operations signed the MoU. In addition, His Highness Sheikh Ahmed bin Saeed Al Maktoum, the chairman and chief executive of Emirates Airline and Group graced the signing ceremony of the MoU.
Recently, Crypto.com also signed an MoU with Emirates Petroleum Company (PSJC) also known as Emarat. As part of the agreement, all 155 service stations belonging to the company in the UAE will accept payment in cryptocurrencies.
Executives’ insight into the partnership between Emirates and Crypto.com
Adnan Kazim while speaking about the collaboration said the synergy with Crypto.com underlies the commitment of the aviation giant to suit the “evolving customer preferences.” The deputy president added that with the move, the company is tapping into its younger, tech-oriented customers who prefer digital asset payments.
Furthermore, the Emirates executive opined that the latest collaborative effort aligns with the broader vision of Dubai to lead financial innovation across the globe.
Similarly, Eric Anziani, the president and COO of Crypto.com disclosed that the partnership with Emirates will bring “real momentum to the digital asset industry.” The president of Crypto.com emphasized that the MoU empowers the two partners to provide realistic innovative finance solutions for customers.
Side note
It is worth mentioning that the collaboration between Emirates and Crypto.com coincides with the increasing adoption of digital assets innovation in the United Arab Emirates. So far, the Middle Eastern country has introduced regulations to foster innovation in the virtual assets sector.
Due to that, companies across different sectors of the country have adopted cryptocurrency payments. However, for Emirates, the partnership with Crypto.com is a landmark achievement in its bid to embrace digital asset innovations.
In 2022, Emirates announced plans to venture into NFTs and the Metaverse to enhance customer and staff experience.
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