In a groundbreaking move that signals the growing integration of blockchain technology into global commerce, Dubai Duty Free has signed a Memorandum of Understanding (MoU) with leading digital asset platform Crypto.com to explore the introduction of cryptocurrency payments for both in-store and online retail channels.
The agreement, which aims to drive innovation and align with the UAE’s broader digital economy goals, was signed at Emirates Headquarters in the presence of HH Sheikh Ahmed bin Saeed Al Maktoum. It marks a significant step toward modernizing the travel retail experience at one of the world’s busiest international hubs.
A Strategic Leap Toward Digital Transformation
The MoU was formalized by Ramesh Cidambi, Managing Director of Dubai Duty Free, and Mohammed Al Hakim, President of UAE Operations at Crypto.com. Under this agreement, both entities will collaborate on initiatives related to payment innovation, customer engagement, strategic partnerships, and joint marketing efforts.
Cidambi highlighted the importance of staying ahead of global retail trends, especially in a city like Dubai, where millions of travelers pass through annually.
“This MoU underscores our commitment to innovation and to providing greater convenience and choice for our customers,” Cidambi said. “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.”
By potentially enabling crypto payments, Dubai Duty Free aims to broaden its appeal to tech-savvy travelers and meet the evolving expectations of a global consumer base.
Crypto.com Eyes Real-World Integration of Digital Assets
Executives at Crypto.com echoed similar sentiments about the partnership’s role in expanding the everyday use of cryptocurrencies in mainstream settings.
Eric Anziani, President and COO of Crypto.com, described the agreement as a milestone for the industry:
“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,” he stated. “This partnership allows both companies to offer innovative finance solutions to a growing and diverse customer base.”
Meanwhile, Alain Yacine, President of Crypto.com Middle East, emphasized the regional significance of the deal:
“Our focus is on developing a comprehensive and exceptional suite of products that leverage the potential of digital finance. Signing this MoU with Dubai Duty Free gives us a platform to achieve this with one of the region’s most iconic retail operators.”
Supporting the UAE’s Vision for a Digital Economy
The collaboration comes at a time when the UAE is making rapid strides in digital transformation, particularly in sectors like finance, logistics, and commerce. The introduction of crypto payment capabilities at a globally recognized retail destination like Dubai Duty Free would serve as a high-profile case study in the seamless integration of digital assets into traditional consumer experiences.
Moreover, this partnership aligns with Dubai Duty Free’s strong business performance in 2025. The company recorded AED 4.118 billion in revenue during the first half of the year, marking a 5.34% increase compared to the same period last year. This upward trend provides a robust foundation for future-focused experiments in payment systems and digital engagement.
Next Steps: Feasibility Studies Underway
While the MoU does not guarantee immediate implementation of cryptocurrency payments, both parties have confirmed that feasibility studies are now in progress. These studies will assess the technical, regulatory, and operational aspects of introducing crypto as a valid payment option within Dubai Duty Free’s ecosystem.
If successful, the initiative could pave the way for wider adoption of digital currencies in airports and retail environments globally—starting with Dubai, one of the world’s leading travel and innovation hubs.
