Virtuzone, Binance enter partnership to foster UAE crypto adoption

According to Aug. 29, Virtuezone has partnered with Binance to accept crypto for business building services across the UAE using its payment gateway. press release.

The two companies said the goal of the partnership is to increase crypto adoption rates in the country.

Virtuezone is an end-to-end business service provider, helping companies entering the UAE market meet their requirements from registration to licensing. By enabling cryptocurrency payment options into the system, Virtuezone helps reduce the payment barriers faced by companies wishing to set up local operations.

Nadeem Ladki, Director of Business Development and Strategy at Binance said:

โ€œAs a leader in its field, Virtuzone’s decision to accept cryptocurrency payments and integrate Binance Pay into its system raises the bar for innovation and points the way forward when it comes to setting up business in the UAE.โ€

Virtuzone also reiterated its commitment to play a key role in the UAE’s Web3 movement as it works to promote the use of cryptocurrencies and blockchain technology in all its service offerings.

binance pay in united arab emirates

Binance is one of the few cryptocurrency exchanges to work with UAE regulators to make the Emirates a friendly hub for crypto asset regulation.I also received it recently Approval in principle Offer services including Binance Pay in the United Arab Emirates.

Binance Pay is now accepted in 29 retail malls, 13 hotels and 4 communities. Top companies that have integrated their services into their systems include JA Resorts & Hotels, Majid Al Futtaim and Virtuzone.

Crypto payments are starting

A recent survey found that 40% of young people between the ages of 18 and 35 in 11 countries would like to use cryptocurrencies to pay for goods and services. Many payment providers are ready to serve the market, like Binance. recently partnered with an Australian private group to offer payment services. Once complete, will be available at over 170 convenience operators, including service stations and restaurants.

Stripe has partnered with cryptocurrency startup OpenNode to reintroduce Bitcoin (BTC) payments to its customers. A user can instantly convert their Stripe account balance into her BTC via the Lightning Network.

US Paypal users can now transfer, send, and receive prescribed cryptocurrencies after the company launched its crypto payment method.

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