Dubai’s residents will soon be able to pay for school fees, bills and retail purchases with the UAE’s own cryptocurrency, “emCash.”
The state’s own cryptocurrency, launched by Dubai’s first official credit bureau, emCredit, is going for wider adoption. Teamed up with payments provider Pundi X and Ebooc Fintech & Loyalty Lab, emCash is making its way to retail storefronts.
“To be the world's first city to offer blockchain-based payment solutions to our residents is an exciting moment for Dubai. It confirms Dubai's status as an international tech hub. Deploying cutting-edge technology such as Blockchain is a key priority and is delivering benefits to our citizens in the form of convenience and securities to customers and merchants across Dubai,” said an emCredit spokesperson.