Virtuzone and Binance, the UAE’s main provider of institutional and business startup services, have partnered to enable crypto payments in the UAE through Binance Pay.
With this, Virtuzone has become the first company in the country to accept crypto payments for business setup via Binance Pay, Coin Journal learned from a press release.
Reducing barriers to entrepreneurship
By making it possible to pay for business startups using cryptocurrencies, Virtuzone aims to minimize barriers to entrepreneurship while also creating more opportunities for companies to tap into the country’s thriving startup community.
The leading service provider also aims to advance the use of blockchain technology and cryptocurrencies in the UAE while playing a key role in the Web 3.0 movement in the country.
Binance Pay eliminates transaction fees and delays
Binance Pay provides unlimited, contactless, and secure crypto payments and transfers.
It allows instant money transfers all over the world, supports a range of cryptocurrencies, and enables user-to-user transfers, eliminating the delays and fees that come with transactions by intermediaries.
Before Virtuzone, Majid Al Futtaim and JA Resorts and Hotels integrated Binance Pay into their systems.
Our partnership with Binance aims to create an enhanced synergy between the crypto and startup industries with the main goal of creating a tech-centric, crypto-friendly business environment to facilitate the finding of companies specializing in decentralized finance (DeFi), NFT. Development, blockchain technologies, and more.
Nadeem Ladki, Executive Director of Business Development and Strategic Partnerships at Binance, said:
Available anywhere in the world, Binance Pay’s user-friendliness and top-notch technology and security will be highly attractive to the global and local startup community looking to establish their businesses outside of the UAE.
Neil Petch, Virtuzone President, and Co-Founder added:
The partnership with Binance is a sign of our commitment to continue seeking new solutions that will positively impact the startup community in the UAE while developing the potential and opportunities for Virtuzone and its customers. Collaborating with a recognized Web 3.0 technology leader like Binance puts us ahead of digital transformation in the UAE and the region.