Du, a prominent telecom provider in the UAE, has recently introduced cryptocurrency as a payment method. This move aims to embrace the growing popularity of digital currencies and offer customers more flexibility in making payments for telecom services, positioning Du as a forward-thinking, innovative company in the region.
Customers can now conveniently pay their Du bills through various options, including Apple Pay, Samsung Pay, debit or credit cards, and even cryptocurrency. This expanded range of payment methods provides greater flexibility and ease, catering to diverse preferences and enhancing the overall customer experience.
UAE Central Bank Introduces New Crypto Regulations
The UAE Central Bank has announced a new regulation stating that only stablecoins backed by the dirham will be allowed for purchasing goods and services within the country. This move aims to strengthen the country’s digital economy while maintaining currency stability. The regulation, set to take effect later this year, is expected to impact both consumers and businesses, ensuring that digital transactions align with the country’s economic framework and fostering trust in digital currency adoption.
Widely used cryptocurrencies, including Bitcoin and Ethereum, as well as USD-backed stablecoins like Tether, will not be accepted for everyday transactions in the UAE. However, these digital assets can still be used within designated financial free zones. This new rule, set to take effect soon, aims to regulate the use of cryptocurrencies while ensuring the stability of the local economy. It also encourages the use of stablecoins pegged to the dirham for more secure and regulated transactions.
