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 (BTC, +1.48%), ether (ETH, +4.93%) and the tether (USDT, -0.15%) 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.
*Article by CoinDesk