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Virtuzone, a UAE-based company, will accept crypto payments via Binance Pay

Virtuzone, a company based out of Dubai, UAE, has started accepting cryptocurrency payments. Currently, the company is accepting payments via Binance pay.

Since Virtuzone will be using Binance Pay, users can pay via 40 different cryptocurrencies. The list includes some of the most popular coins including Bitcoin (BTC), Ethereum (ETH), and USD coin (USDC). The platform allows instantaneous fund transfers and has zero third-party transaction fees, making it an attractive option for users.

In light of the recent developments at Virtuzone, the executive director of Business Development and Strategic Partnerships at Binance, Nadeem Ladki, said that it raises the bar for innovation. He also commented that the Arabic company’s decision will show the way forward for UAE-based companies.

“Virtuzone’s decision to accept cryptocurrency payments and integrate Binance Pay into its systems raises the bar for innovation and demonstrates the way forward when it comes to setting up businesses in the UAE.”

Nadeem ladki

Virtuzone’s decision to embrace cryptocurrency comes shortly after Dubai decided to double down on its efforts in expanding cryptocurrency adoption in the emirate. The authorities in the city recently set up a Virtual Assets Regulatory Authority (VARA) to look after cryptocurrency adoption. The board has set up some crypto-friendly laws in Dubai. The authorities also plan on handing over trading licenses to several crypto platforms within the near future. Thus, companies have hastened the rates of cryptocurrency adoption.

Alongside Virtuzone, some other UAE-based companies that have adopted crypto via Binance Pay include Majid Al Futtiam, JA Resorts and Hotels, and Damac. This widespread adoption of crypto in the emirates is another step toward the success of digital currencies.

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