UAE Launches Crypto-Powered Gas Stations in Historic Emarat–Crypto.com Deal

The United Arab Emirates (UAE) is making history with the launch of the first cryptocurrency-friendly gas station with Crypto.com. In a significant development, gas stations operated by Emirates General Petroleum Corporation (Emarat) now allow customers to pay for gas using digital currency.

Launch Aims To Redefine Modern Fuel Retail

In an update shared on its official X handle, Emarat clarified that the move is part of its visionary Project Landmark. It states that it is meant to set the pace and redefine how a gas service station should function.

Emarat is collaborating with Crypto.com, a cryptocurrency exchange that offers various financial services, including direct crypto payments. The strategic collaboration, which will commence with 10 different locations, is the first in the Middle East and North Africa.

The plan is to expand across Emarat’s network. In March 2024, Emarat introduced Project Landmark to redefine modern service stations by integrating technology and sustainable innovations. The idea seems to make gas stations futuristic or keep up with contemporary trends, of which crypto payment is key.

Crypto.com to Strengthen UAE Digital Payment Ecosystem

As of this writing, the first phase of this partnership will see crypto payments activated in 10 Emarat stations. A flagship “Emarat x Crypto.com” station on Al Wasl Road, Dubai, will also be launched.

The service will roll out gradually across different locations nationwide. It is worth noting that Emarat owns about 156 gas stations in Dubai and the Northern Emirates. Hence, activating crypto payment services across all its gas stations will signal a massive win for digital adoption in the UAE.

It aligns with the UAE’s growing adoption of cryptocurrency. In March this year, for instance, Ripple, a leading blockchain payment provider, secured regulatory approval from the Dubai Financial Services Authority (DFSA).

The license grants Ripple the green light to provide payment solutions for financial institutions and businesses across the UAE.

UAE Accelerates Crypto Adoption

The UAE has positioned itself as a leader in crypto adoption and is opening its space as an attractive destination for players in the sector.

Binance, a crypto exchange, recently secured $2 billion in investment from MGX, an Abu Dhabi-based Artificial Intelligence (AI) and tech investor. The collaboration aims to build a more inclusive and robust digital finance ecosystem.