KIKLABB, a Dubai-based license bureau, will allow citizens to pay for their visa and trade license fees in digital currencies. KIKLABB has noted a rising interest in citizens interested in making payments via digital currencies, stated CEO Tasawar Ulhaq. The United Arab Emirates government has taken a step towards digital currency payments, with one of its entities becoming the first to accept digital currency payments. Cryptocurrencies are being widely accepted as bitcoin continues to gain mainstream exposure amid its massive winning rally. Earlier, Tesla also announced that the firm is considering accepting bitcoin as payment.
“We’ve seen growing interest in cryptocurrency with several customers.”
KIKLABB CEO Tasawar Ulhaq speaking to Dubai-based outlet Arabian Business, stated, “We’ve seen growing interest in cryptocurrency with several customers in the blockchain and fintech sectors part of the KIKLABB community, so it really was just a matter of time before we recognized Bitcoin, Ethereum and Tether.” Touting cryptocurrencies as the future payment method, the CEO believes that KIKLABB is just the first of many other public entities that will embrace them. The UAE government has been promoting the uptake of blockchain technology over the past few years.
Major companies continue to explore crypto payment options.
As reported earlier, the world’s leading electric car maker Tesla announced that the firm is considering accepting bitcoin as payment from customers. Luzboa, a small energy trading company in Portugal, also announced to soon start accepting Bitcoin as payment for electricity. The company’s president Pedro Morais Leitão announced the news to Portuguese publication Expresso on Wednesday, stating that the new payment option should become available this month. Its Emirates Blockchain Strategy 2021 is working on integrating the technology in at least half of its transactions. The UK-headquartered private jet charter company PrivateFly revealed that nearly 20% of its yearly revenue came in the form of the leading cryptocurrency.