The Zayed International Airport situated in UAE capital Abu Dhabi plans to enable digital assets spending within its premises. As reported by the Gulf News, the move is intended as a major push to promote cashless travel and elevate UAE’s position in the global crypto adoption arena.
As part of this move, travelers will be allowed to use cryptocurrencies and stablecoins to shop and make other purchases within the Zayed International Airport.
Abu Dhabi Airports has signed a memorandum of understanding (MoU) with investment firm Al Hail Holding to power the initiative. A joint committee will be established from members of both entities to provide a stable operational infrastructure to support crypto payments and maintain regulatory engagement with the government.
Elena Sorlini, Managing Director and CEO of Abu Dhabi Airports reportedly believes that airports are soon becoming hotspots for digital commerce — an opportunity that the authorities wish to tap into in the UAE.
“Through our partnership with Al Hail Holding and Xare we will pilot cashless, next-generation payment technologies that simplify every step of the traveller journey and redefine convenience, sustainability and financial access, while showcasing UAE as the ideal launchpad for a digital economy,” the report quoted Sorlini as saying.
Fintech firm Xare has been onboarded to provide the technical assistance for these crypto payments. The partnership was confirmed by the official X handle of the Zayed International Airport on Friday, October 10.
In the later stages of this pilot, other advanced technologies like Artificial Intelligence (AI) will also be integrated into the crypto payment systems to make them more efficient.
The merger of crypto with aviation in the UAE has seemingly picked pace this year.
Earlier in July, the Emirates Airlines partnered Crypto.com to enable crypto as a payment option for customers.