Emirates has announced its partnership with Crypto.com, marking a significant step towards integrating crypto payment within the airline industry.
The agreement, a Memorandum of Understanding (MoU), will allow Emirates customers to make payments through the crypto platform’s payment service, expanding the airline’s reach to a younger, tech-savvy demographic that increasingly favors digital currencies.
This partnership with Crypto.com could also increase the transactional volume for $CRO, Crypto.com’s native token.
Emirates’ Strategic Move into Crypto Payment
The MoU between Emirates and Crypto.com is set to revolutionize how the airline handles customer transactions.
According to Adnan Kazim, Emirates’ deputy president and chief commercial officer, the partnership will cater to a younger customer base that prefers digital currencies over traditional payment methods.
Crypto.com’s robust payment platform will provide a seamless way for customers to use digital currencies like Bitcoin and Cronos ($CRO) to book flights and purchase services from the airline.
The UAE’s Role as a Crypto Hub
Dubai’s proactive approach to cryptocurrency regulation continues to position the UAE has become a key player in the cryptocurrency market.
In 2022, the Dubai Virtual Assets Regulatory Authority (VARA) was set up to regulate the burgeoning virtual asset industry. The DMCC in Dubai has more than 650 crypto companies, which cements its reputation of being one of the cities of cryptocurrency innovation.
Several government collaborations with cryptocurrency platforms have also been established in the country. For example, the Dubai Land Department has partnered with Crypto.com to explore blockchain and cryptocurrency payments in real estate transactions, including government fees.
Soon, the Dubai Department of Finance has also stated that they are collaborating with Crypto.com to allow citizens to pay the fees for government services with cryptocurrencies.
Also Read: New Truth Social ETF Offers Regulated Access to Top Cryptos
Increasing Crypto Adoption in the Travel Sector
Emirates’ partnership with Crypto.com is not unique in the travel sector. Other airways have already turned to a crypto payment method.
As an illustration, the Dubai-listed airline Air Arabia declared in May to accept the UAE dirham-backed stablecoin AE Coin to purchase flight tickets.
This partnership with Crypto.com could also increase the transactional volume for $CRO, Crypto.com’s native token. As cryptocurrencies become more widely accepted in everyday transactions, there is likely to be an uptick in the adoption of $CRO, both as a payment method and a store of value.
Cronos ($CRO): A Bullish Trend in the Crypto Market
Cronos ($CRO) has been performing well in the crypto market, having boosted its value by 15.3% in the past 24 hours.
Its market capitalization of 2.9 billion is not the least important player in the cryptocurrency arena, and the token is gaining momentum. Trading Volume also surged by 2258.63%.
Payment networks, such as the one with Emirates, are likely to increase the utilization and adoption of the token in the future due to the integration of $CRO.
Also, the collaboration will increase the exposure of $CRO as it gains exposure in the mainstream by becoming utilitarian.
The recent development on $CRO was its entry into the newly filed Crypto Blue Chip ETF on the Truth Social platform of President Trump. This ETF comprises leisurely digital currencies such as $BTC, $ETH, $XRP, and $CRO, which is a great sign of endorsement for the $CRO.
That addition is an indication of its rising legitimacy and acceptance as an important asset in the cryptocurrency market.
