Dubai Duty Free has partnered with Crypto.com to explore enabling cryptocurrency payments at its locations and develop collaborative initiatives, highlighting innovation and enhanced customer experiences.

Dubai Duty Free recently entered into a partnership agreement with Crypto.com, marked by the signing of a Memorandum of Understanding (MoU). This collaboration aims to enable cryptocurrency payment options at Dubai Duty Free's various locations, enhancing both in-store and online customer experiences.

The establishment of this MoU opens doors for crypto payments, providing travellers with more options and fostering strategic collaborations such as joint marketing campaigns and customer engagement programs that benefit from the strengths of both entities.

Dubai Duty Free Welcomes Cryptocurrency Payments

The agreement was formally signed by Ramesh Cidambi, Managing Director of Dubai Duty Free, and Mohammed Al Hakim, President of UAE Operations at Crypto.com. The ceremony was witnessed by Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority and Chairman of Dubai Duty Free.

Ramesh Cidambi commented, “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.”

Echoing this sentiment, Eric Anziani, President and COO of Crypto.com, stated, “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.”

This partnership aligns with Dubai Duty Free’s impressive performance for the first half of the year, reflecting a turnover of AED 4.118 billion ($1.128 billion), marking a 5.34 percent increase from the previous year.

The decision to accept cryptocurrency payments is more than just a new transaction method; it's a significant move towards redefining the future of travel retail. By integrating convenience, security, and innovation, Dubai Duty Free is poised to revolutionize the airport shopping experience.

This initiative will help meet the varied preferences of customers while aligning with the UAE’s commitment to fostering innovation and advancing digital transformation in both retail and financial sectors.

Renowned for its technological and strategic adaptability, Dubai Duty Free continues to widen the scope of digital transactions. Having already adopted solutions like Alipay and TerraPay, it is paving the way toward a future-ready ecosystem, reinforcing its status as a leader in global travel retail.

Both parties will soon embark on feasibility studies and planning efforts to implement cryptocurrency payment solutions and initiate the collaborative initiatives outlined in the MoU.

Alain Yacine, President of the Middle East at Crypto.com, emphasized, “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 in this critical sector. Signing an MoU with Dubai Duty Free provides us with a platform to achieve these goals alongside an exceptional partner, and we’re thrilled at the prospect of working with them on this venture.”