Dubai Duty Free has signed a Memorandum of Understanding with Crypto.com to explore enabling cryptocurrency payments and develop collaborative initiatives.
The MoU creates opportunities for crypto payments at Dubai Duty Free locations both in-store and online, providing travellers with payment options and expanding collaborations through strategic partnerships, joint marketing campaigns, and customer engagement programmes that leverage the strengths of both organisations.
Dubai Duty Free embraces crypto payments
The agreement was signed at the Emirates Headquarters by Ramesh Cidambi, Managing Director of Dubai Duty Free and Mohammed Al Hakim, President of UAE Operations at Crypto.com.
The signing took place in the presence of Sheikh Ahmed bin Saeed Al Maktoum, President Dubai Civil Aviation Authority and Chairman of Dubai Duty Free.
“This MoU underscores our commitment to innovation and to providing greater convenience and choice for our customers. As a global hub welcoming millions of travellers, Dubai Duty Free continually seeks to enhance the retail experience. We believe that embracing digital currency payments, such as cryptocurrency, is a forward-looking step that will add significant value for our diverse customer base and support our vision for sustained growth,” Cidambi said.
“We’re delighted to complete the signing of this important MoU with Dubai Duty Free. As we continue to expand the everyday use case for crypto, integration with exceptional partners such as Dubai Duty Free will bring real momentum to the digital asset industry and enable both companies to offer genuine innovative finance solutions for our customers. We look forward to working together as we continue to build our crypto offering in the GCC,” Eric Anziani, President and COO, Crypto.com added.
This move aligns with Dubai Duty Free’s performance in the first half of the year, where it recorded a turnover of AED 4.118 billion ($1.128 billion), representing a 5.34 per cent increase compared to the same period last year.
The airport retailer’s plan to accept cryptocurrency marks more than just a new way to pay; it’s a step toward redefining the future of travel retail.
By bringing together convenience, security, and innovation, the airport shopping experience is poised to become more dynamic and cutting-edge than ever before.
Introducing crypto payments will help Dubai Duty Free cater to a wider spectrum of customer preferences while staying aligned with the UAE’s vision of fostering innovation and driving digital transformation across both retail and financial sectors.
As a brand recognised for its spirit in technology and strategic collaborations, Dubai Duty Free continues to push the boundaries of digital payments.
Over the years, Dubai Duty Free has embraced solutions like Alipay and TerraPay, and through its partnerships with payment providers, it is building a future-ready ecosystem that reinforces its reputation as an innovator in global travel retail.
Both parties will begin feasibility studies and planning to bring crypto payment solutions to life and roll out collaborative initiatives under the MoU.
“Our focus is on developing a comprehensive and exceptional suite of products for our customers, which leverage the potential of digital finance and drive expansion of this critical sector. Signing an MoU with Dubai Duty Free will provide us a platform to achieve this with an exceptional partner in the region and we’re thrilled at the prospect of working with them on this venture,” Alain Yacine, President of Middle East, Crypto.com explained.