Mohammed Al-Hakim, the newly appointed President of Crypto.com UAE predicts that with the rise in crypto adoption in the region, digital assets might surpass traditional currencies in daily use cases.
In an interview with a local media outlet on 19 February 2025, Hakim said, “In the next two years in the UAE, you will be able to do more with cryptocurrency than with the dirham and dollar.”
Hakim’s appointment as President of Crypto.com in the UAE makes him the first GCC and an Emirati national to assume a senior role in a global crypto exchange. Hakim’s appointment is expected to help Crypto.com better navigate its expansion in the Gulf region.
Mohammed Al Hakim, President GCC, https://t.co/oCPEjWvtyD:
“The next 2 years in UAE, you will be able to do more with cryptocurrency as a day to day, than you will be able to do with Dirhams or Dollars”
He shared this after discussing the region’s rapid crypto adoption. With… pic.twitter.com/Q6IBCgXqSc
— Ralleroedvin (@Ralleroedvin) February 4, 2025
Importantly, this development comes at a crucial time. Gulf nations are currently pivoting and accelerating their adoption of blockchain technology and other digital assets.
Furthermore, the UAE and Saudi Arabia in the GCC region have led crypto adoption in the region with an increased investment in cryptocurrencies, blockchain technologies and projects along with developing a robust regulatory framework that has facilitated the integration of digital assets into mainstream financial systems.
meanwhile, Crypto.com aims to expand access to its crypto payments, decentralized finance (DeFi) solutions and blockchain-based financial services in the region.
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ACET and Saif Belhasa Holding Forge Blockchain Partnership in the UAE
Further enhancing UAE’s position as a hub for digital assets blockchain technology, ACET, a global blockchain-driven digital asset has entered into a Memorandum of Understanding (MOU) with Saif Belhasa Holding Forge (SBH), a prominent business house in the Middle East.
Commenting on the partnership, Saif Ahmad Belhasa, Chairman of SBH said, “ACET (ACT) will be officially integrated into our financial ecosystem, making crypto a mainstream financial tool in the UAE and beyond.”
Crypto adoption is happening NOW.
ACET (ACT) is powering real estate, luxury, & retail in the UAE.
$5B of institutional backing—AND WE JUST GETTING STARTED!
100x isn’t a dream.
It’s inevitable.Buy NOW
CA: 0x9f3bcbe48e8b754f331dfc694a894e8e686ac31d#ACT100X… pic.twitter.com/YMwxhHcts1
— Nu Brave (@NuBraveIN) February 19, 2025
The partnership aims to enhance the regional economy. Together they highlighted a three-year roadmap focusing on real estate, automotive, retail and hospitality and financial services.
The ACET integration in SBH’s financial system will automate transactions, asset transfers, and enhance AI business solutions. The partnership is now aiming for Dubai Virtual Asset Regulatory Authority (VARA) and Abu Dhabi Global Market (ADGM) certification.
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DU Incorporates Cryptocurrency In Payment Options
Meanwhile, UAE-based telecommunications giant DU’s decision to expand its payment methods to include cryptocurrencies reflects the growing acceptance of digital currencies in the region.
Payment options through crypto will be added to Du’s recently launched financial technology platform.
Nicholas Levi, CEO at DuPay stated, “Cryptocurrencies are being used as an investment. Will we have an investment product one day potentially? I’m not saying no to that. Will we use crypto for our own transactions? There are some plans with the [UAE] central bank to work on that.”
Du’s customers can now settle their bills using cryptocurrencies in addition to the already existing fintech solutions such as Apple Pay and Samsung Pay. This development is in line with Du’s intention to embrace emerging financial technologies and payment solutions.
The company has previously expressed openness towards integrating cryptocurrencies in their fintech services. Du’s acceptance of cryptocurrencies is in sync with Dubai’s broader goal to be a blockchain-powered city.
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Key Takeaways
- Crypto.com UAE President predicts cryptocurrencies will surpass the dirham and dollar in UAE transactions within two years.
- UAE telecom giant Du now accepts cryptocurrency for bill payments, signalling growing digital currency integration.
- ACET and Saif Belhasa Holding partner to implement blockchain in real estate, automotive, and retail sectors.
The post “You will be able to do more with cryptocurrency than with Dirham and Dollar,” Says Crypto.com UAE Head appeared first on 99Bitcoins.
