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UAE company formation specialist Virtuzone is partnering with Binance to accept cryptocurrency payments for business setups through the latter’s proprietary payment technology.
The alliance makes Virtuzone the first company in the UAE to set up a business through cryptocurrency payments Binance PayVirtuzone said the move, aimed at boosting the growth of e-commerce startups in the UAE, aims to help reduce barriers to entrepreneurship by enabling cryptocurrency payments. It also creates more opportunities for global businesses to tap into the country’s thriving entrepreneurial community.
Binance will facilitate settlement and the crypto-to-crypto gateway will support various crypto assets such as BNB, Bitcoin and Ethereum. With this development, Virtuzone has joined JA Resorts and Hotels and Majid Al Futtaim as the first company in the UAE to integrate Binance Pay into its system.
While many businesses have started adopting digital assets, the UAE has long been User friendly for encryptionIn early May, a five-star hotel in Dubai’s Al Furjan luxury district began accepting guests as payment methods in bitcoin, ether, and Binance’s stablecoin.
Dubai Museum of the Future, a $136 million UAE government-funded museum that opened a few months ago, has also teamed up with Binance NFT to launch a series of blockchain-based digital products.
Binance Pay is a contactless and borderless gateway on the Binance App that allows users and merchants around the world to spend cryptocurrencies without incurring special fees.
George Hojeige, CEO of Virtuzone, commented: “Our alliance with Binance aims to create more synergies between the business setup and the crypto industry, with the overall goal of creating a crypto-friendly and tech-centric business environment that enables We can handle it with ease. To build companies specializing in Decentralized Finance (DeFi), Blockchain Technology, Non-Fungible Tokens (NFT) development and trading, further establishing the UAE as a key to innovation and next-generation technologies hub.”
Nadeem Ladki, Executive Director of Business Development and Strategic Partnerships at Binance, added: “As a leader in the field, Virtuzone’s decision to accept cryptocurrency payments and integrate Binance Pay into its system raises the bar for innovation and demonstrates the future of Directions. Doing business in the UAE. The ease of using Binance Pay anywhere in the world, coupled with best-in-class security and technology, will be a huge draw for the local and global start-up community looking to do business outside the UAE.”
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