Dubai Completes First Government Payment in Dirhams via Digital Assets

Dubai's Department of Finance has successfully piloted a government service fee payment settled in UAE dirhams using digital assets. The test, conducted in collaboration with the Dubai Land Department through the 'Dubai Pay' platform, processed a property map issuance fee within a secure, closed environment.

The transaction Leveraged infrastructure from Foris Dax Middle East, the first Virtual Asset Service Provider in the UAE to receive in-principle approval from the Central Bank for a Stored Value Facilities license. Officials emphasized this was strictly a technical proof-of-concept to validate systems before potential wider adoption.

'This marks a proactive step toward the future of digital transactions in the emirate,' said His Excellency Abdulrahman Al Saleh, Director General of Dubai's Department of Finance. The initiative aligns with Dubai's strategy to adopt advanced financial technologies while maintaining stringent security and compliance standards.